217 La France St · Elmira, NY 14904

$63,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 72 Days on market

Built 1900 4,875 sqft lot $63/sqft · 22% below area Est $82k · 22% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

welcome to this 2 bedroom house, Move in ready, 2 Bedroom, 1 bath, Living room and a Dining room. good size yard and a driveway. first floor layout: Living room, Dining room, Kitchen, 2nd floor layout: Bathroom, 2 Bedrooms and an extra room which can be used as an office or for storage etc. .. .

Key facts

• 4,875 sq ft lot
• Built 1900
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $60k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.4% vs local median 10.1% in Elmira — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: 101 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y ago; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $64k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,066 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 1900 — 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: 2.15% ✓
• Cap rate: 17.39%
• Cash-on-cash: 39.63%
• DSCR: 2.76
• GRM: 3.9

CMA / ARV

• ARV (median comp): $82,216
• List price: $63,900
• Delta: -22.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
767 Erie St	0.38mi	3/1.5	1,036 (+3%)	8mo	$23,000	$22	69
561 Post St	0.42mi	2/1.0 (-1)	1,004 (-0%)	8mo	$112,500	$112	68
212 Austin Ln	0.45mi	3/1.0	1,056 (+5%)	10mo	$57,447	$54	63
207 Morrow St	0.55mi	3/1.0	976 (-3%)	8mo	$96,900	$99	62
242 Home St	0.15mi	2/1.0 (-1)	888 (-12%)	7mo	$75,000	$84	62
1008 Parkside Dr	0.60mi	2/1.0 (-1)	1,040 (+3%)	10mo	$115,000	$111	53
733 Robinson St	0.49mi	3/1.0	1,105 (+10%)	10mo	$117,500	$106	52
602 Post St	0.42mi	3/1.5	1,134 (+12%)	8mo	$127,500	$112	51
405 Balsam St	0.70mi	2/1.0 (-1)	1,081 (+7%)	5mo	$22,000	$20	46
420 Schuyler Ave	0.65mi	3/1.0	1,152 (+14%)	2mo	$154,148	$134	44
508 Baylor Rd	0.66mi	3/1.0	1,139 (+13%)	8mo	$137,800	$121	41
433 Schuyler Ave	0.68mi	3/1.0	1,156 (+15%)	5mo	$140,500	$122	40

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

Projected returns pro-forma

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

5-year hold

• IRR: 36.0%
• Equity multiple: 2.53×
• Total profit: $27,332
• Equity at exit: $9,528

10-year hold

• IRR: 42.7%
• Equity multiple: 5.05×
• Total profit: $72,471
• Equity at exit: $5,525

Cash invested: $17,892 (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 14904

• Home prices YoY: -9.6%
• Active inventory: 101
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,371 high
• Mortgage (P&I): −$335
• Tax from tax record: −$130 /mo · $1,563/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $591

Break-even live

Break-even rent $623

Max offer price $63,900

Occupancy floor 52%

Sensitivity live

Price	-10% $627	-5% $609	+0% $591	+5% $573	+10% $555
Rent	-10% $483	-5% $537	+0% $591	+5% $645	+10% $699
Rate	-1.0pp $623	-0.5pp $607	base $591	+0.5pp $574	+1.0pp $558

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: $15,975
• Closing costs: $1,917
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	44d	1	0.65mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	0.83mi
235 Allen St Elmira, NY	2.0	1.0	780	$950	$1.22	44d	1	0.89mi
410 E 2nd St Unit FS3W Elmira, NY	3.0	1.0	800	$1,250	$1.56	44d	1	0.92mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	0.97mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	44d	1	1.18mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	1.22mi
550 Spruce St Unit 303 Elmira, NY	2.0	2.0	1350	$1,350	$1.00	44d	1	1.28mi

Listing history 32 events

1. 2026-06-19
   days on market $63,900 Active 72 DOM
2. 2026-06-18
   days on market $63,900 Active 71 DOM
3. 2026-06-17
   days on market $63,900 Active 70 DOM
4. 2026-06-16
   days on market $63,900 Active 69 DOM
5. 2026-06-15
   days on market $63,900 Active 68 DOM
6. 2026-06-14
   days on market $63,900 Active 66 DOM
7. 2026-06-12
   days on market $63,900 Active 65 DOM
8. 2026-06-09
   days on market $63,900 Active 62 DOM
9. 2026-06-08
   days on market $63,900 Active 61 DOM
10. 2026-06-07
    days on market $63,900 Active 60 DOM
11. 2026-06-05
    days on market $63,900 Active 57 DOM
12. 2026-06-03
    remarks 308-char remark
13. 2026-06-03
    pricedays on market $63,900 Active 56 DOM
14. 2026-06-02
    days on market $64,900 Active 55 DOM
15. 2026-06-01
    days on market $64,900 Active 54 DOM
16. 2026-05-31
    days on market $64,900 Active 53 DOM
17. 2026-05-30
    days on market $64,900 Active 52 DOM
18. 2026-05-01
    price $64,900 296-char remark

    Show marketing remark (296 chars)

    welcome to this 2 bedroom house, Move in ready, 2 Bedroom, 1 bath, Living room and a Dining room. good size yard and a driveway. first floor layout: Living room, Dining room, Kitchen, 2nd floor layout: Bathroom, 2 Bedrooms and an extra room which can be used as an office or for storage etc. .. .

19. 2026-04-08
    listed $69,900 Active 296-char remark

    Show marketing remark (296 chars)

    welcome to this 2 bedroom house, Move in ready, 2 Bedroom, 1 bath, Living room and a Dining room. good size yard and a driveway. first floor layout: Living room, Dining room, Kitchen, 2nd floor layout: Bathroom, 2 Bedrooms and an extra room which can be used as an office or for storage etc. .. .

20. 2025-10-09
    historical
21. 2025-08-07
    historical Active Under Contract
22. 2025-05-09
    price $30,000
23. 2025-02-25
    price $35,000
24. 2024-12-09
    listed $40,000 Active
25. 2006-12-27
    soldstatus $24,500
26. 2006-12-15
    soldstatus $24,500
27. 2006-10-30
    listed $24,500
28. 2006-07-12
    historical
29. 2005-07-12
    listed $29,500
30. 2005-04-23
    historical
31. 2004-04-23
    listed $29,700
32. 1997-02-13
    soldstatus $12,000

ⓘ 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: $1,563 · $130/mo
• Projected year-2 tax: $1,563 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $16,448
• − Mortgage interest: −$3,579
• − Property taxes: −$1,563
• − Insurance: −$320
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$1,859
• Taxable income: $6,496
• Est. tax owed @ 24.0%: −$1,559
• After-tax cash flow: $5,532/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): 14,276

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 7% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Jamaica, Dominican Republic
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -23.33%
• Current HPI: 220.688
• 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

+440.8% since first listed

15 events — show timeline

• 2026-05-01 Price Changed $64,900 UNYREIS
• 2026-04-08 Listed $69,900 UNYREIS
• 2025-10-09 Listing Removed — UNYREIS
• 2025-08-07 Contingent — UNYREIS
• 2025-05-09 Price Changed $30,000 UNYREIS
• 2025-02-25 Price Changed $35,000 UNYREIS
• 2024-12-09 Listed $40,000 UNYREIS
• 2006-12-27 Sold (Public Records) $24,500 Public Records
• 2006-12-15 Sold (MLS) $24,500 UNYREIS
• 2006-10-30 Listed $24,500 UNYREIS
• 2006-07-12 Listing Removed — UNYREIS
• 2005-07-12 Listed $29,500 UNYREIS
• 2005-04-23 Listing Removed — UNYREIS
• 2004-04-23 Listed $29,700 UNYREIS
• 1997-02-13 Sold (Public Records) $12,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,563 · -34.9% YoY. Source: county tax records.