722 E Washington Ave · Elmira, NY 14901

$127,500

4 bd · 1.0 ba · 1,577 sqft · SingleFamily public records · 62 Days on market

Built 1914 8,670 sqft lot $81/sqft · 142% above area

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Nestled in a prime location with easy interstate access, this beautifully maintained four-bedroom, two-story classic radiates timeless charm and modern comfort. The home is bathed in an abundance of natural light streaming through large windows, highlighting the stunning original woodwork and gorgeous hardwood floors that flow throughout. The spacious living room features newer carpeting for a cozy touch, while the functional layout includes a full bathroom on each floor for maximum convenience. Outside, the property offers exceptional spaces for relaxation and play, from the inviting full front porch to the expansive rear deck overlooking a large, flat backyard. Storage is plentiful with a walk-up attic and a partially finished full basement, while the two-car garage provides ample space for vehicles and hobbies. Combining historic character with meticulous care, this home is a rare find that perfectly balances indoor elegance with outdoor versatility. Square Footage Per Tac Records.

Key facts

• 8,670 sq ft lot
• 2 garage spots
• Built 1914

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $128k).
• Recommended offer: $120k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 10.1% in Elmira — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 62/100 on livability (#832 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Elmira City School District (urban): math 23% / reading 35% proficiency, ranked #580 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 78 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($882 loan paydown + $13k appreciation (10.0% local appreciation)).
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $36k; list at $128k implies a 254% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,850 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $59,170
• List price: $127,500
• Delta: 115.48%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
810 Oak St	0.07mi	3/1.0 (-1)	1,341 (-15%)	6mo	$13,500	$10	61
421 High St	0.52mi	3/1.5 (-1)	1,435 (-9%)	0mo	$100,000	$70	54
950 N Main St	0.70mi	4/1.5	1,644 (+4%)	7mo	$37,000	$23	52
960 East Ave	0.50mi	3/1.0 (-1)	1,753 (+11%)	1mo	$39,999	$23	52
862 Magee St	0.64mi	3/1.0 (-1)	1,440 (-9%)	1mo	$64,900	$45	50
1227 Lake St	0.54mi	3/1.5 (-1)	1,664 (+6%)	11mo	$49,000	$29	50
600 Beach St	0.50mi	3/1.5 (-1)	1,432 (-9%)	10mo	$77,319	$54	46
918 Magee St	0.65mi	4/1.0	1,812 (+15%)	1mo	$112,000	$62	44
914 Magee St	0.64mi	3/1.5 (-1)	1,448 (-8%)	10mo	$97,000	$67	41
1320 Grand Central Ave	0.69mi	3/1.0 (-1)	1,376 (-13%)	3mo	$37,500	$27	39
408 Oak St	0.55mi	3/2.0 (-1)	1,788 (+13%)	8mo	$78,000	$44	36
965 Wisner St	0.63mi	3/1.0 (-1)	1,358 (-14%)	9mo	$20,000	$15	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 3.27×
• Total profit: $81,190
• Equity at exit: $114,862

10-year hold

• IRR: 25.0%
• Equity multiple: 7.44×
• Total profit: $229,910
• Equity at exit: $247,704

Cash invested: $35,700 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14901

• Home prices YoY: 15.9%
• Active inventory: 78
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,349 medium
• Mortgage (P&I): −$669
• Tax from tax record: −$160 /mo · $1,922/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $184

Break-even live

Break-even rent $1,116

Max offer price $127,500

Occupancy floor 81%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	0.84mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	44d	1	1.00mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	1.26mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	1.40mi

Listing history 19 events

1. 2026-06-19
   days on market $127,500 Active 62 DOM
2. 2026-06-18
   days on market $127,500 Active 61 DOM
3. 2026-06-17
   days on market $127,500 Active 60 DOM
4. 2026-06-16
   days on market $127,500 Active 59 DOM
5. 2026-06-15
   days on market $127,500 Active 58 DOM
6. 2026-06-14
   days on market $127,500 Active 56 DOM
7. 2026-06-12
   days on market $127,500 Active 55 DOM
8. 2026-06-09
   days on market $127,500 Active 52 DOM
9. 2026-06-08
   days on market $127,500 Active 51 DOM
10. 2026-06-07
    days on market $127,500 Active 50 DOM
11. 2026-06-05
    days on market $127,500 Active 47 DOM
12. 2026-06-03
    days on market $127,500 Active 46 DOM
13. 2026-06-02
    days on market $127,500 Active 45 DOM
14. 2026-06-01
    days on market $127,500 Active 44 DOM
15. 2026-05-31
    days on market $127,500 Active 43 DOM
16. 2026-05-30
    days on market $127,500 Active 42 DOM
17. 2026-04-18
    listed $130,000 Active 999-char remark

    Show marketing remark (999 chars)

    Nestled in a prime location with easy interstate access, this beautifully maintained four-bedroom, two-story classic radiates timeless charm and modern comfort. The home is bathed in an abundance of natural light streaming through large windows, highlighting the stunning original woodwork and gorgeous hardwood floors that flow throughout. The spacious living room features newer carpeting for a cozy touch, while the functional layout includes a full bathroom on each floor for maximum convenience. Outside, the property offers exceptional spaces for relaxation and play, from the inviting full front porch to the expansive rear deck overlooking a large, flat backyard. Storage is plentiful with a walk-up attic and a partially finished full basement, while the two-car garage provides ample space for vehicles and hobbies. Combining historic character with meticulous care, this home is a rare find that perfectly balances indoor elegance with outdoor versatility. Square Footage Per Tac Records.

18. 2000-03-08
    soldstatus $36,000
19. 1994-10-21
    soldstatus $48,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,922 · $160/mo
• Projected year-2 tax: $2,038 · $170/mo
• Expected delta: +$117/yr (+$10/mo · 6.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,193
• − Mortgage interest: −$7,142
• − Property taxes: −$1,922
• − Insurance: −$638
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$3,709
• Taxable income: $192
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $2,164/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Elmira City School District
• NCES district ID: 3610560
• Math proficiency: 23% ▼ -7.00%
• Reading proficiency: 35% ▲ 7.00%
• Median HH income: $40,180
• Composite: 24.39/100
• National rank: #7688
• State rank: #580 of 590 in NY

Livability — Elmira

• Score: 62/100
• State rank: #832
• US rank: #16139

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmira, NY
• City population: 14,276
• Population (ZIP): 14,430

Population outlook (Chemung County) Hauer SSP2

• Today (2025): 82,931 people
• By 2030: 80,356 · -3.1%
• By 2040: 74,745 · -9.9%
• By 2050: 69,012 · -16.8%
• By 2075: 55,689 · -32.8%
• By 2100: 41,428 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 15% Two or more races 7% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Chinese 1%

Political lean MEDSL · Chemung

• 2024 margin: R (+16.8) · D 41.6% · R 58.4%
• 2008→2024 swing: -15.6pp toward R · 2008: -1.2pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+13.4 2016: R+20.0 2012: R+2.9 2008: R+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 32.34%
• Current HPI: 236.2674
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+170.8% since first listed

3 events — show timeline

• 2026-04-18 Listed $130,000 UNYREIS
• 2000-03-08 Sold (Public Records) $36,000 Public Records
• 1994-10-21 Sold (Public Records) $48,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,922 · -19.4% YoY. Source: county tax records.