1598 Mill St · Elkland, PA 14898

$144,900

3 bd · 2.0 ba · 1,520 sqft · MultiFamily public records · 91 Days on market

Built 1870 9,100 sqft lot $95/sqft · at area comps Est $144k · at est.

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.1/15.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to this beautifully remodeled home nestled in the quiet small town of Woodhull, New York. This home combines comfort with modern updates, find high ceilings, abundant natural light, and an inviting open-concept layout that creates a bright living space. Offering 3 bedrooms and 2 full bathrooms, one conveniently located on the main floor and another upstairs. Main floor laundry adds everyday convenience, while generous storage throughout and additional blank space provide the perfect opportunity to customize and make the home your own. Step outside to enjoy the porch overlooking the backyard, an ideal setting for relaxing evenings or entertaining guests. A detached garage/shed with loft space offers excellent additional storage or workshop potential. Located within a short walk to local amenities in Woodhull, this property also provides easy access to nearby destinations, including the City of Corning, New York and the scenic beauty of Keuka Lake, both just a short drive away. This move-in ready home offers small-town charm with convenient access to recreation, shopping, and dining. Don't miss your chance to own this fantastic property!

Key facts

• Generous storage
• Natural light
• Main floor laundry

Tags

• REMODELED HOME
• HIGH CEILINGS
• NATURAL LIGHT
• OPEN-CONCEPT LAYOUT
• MAIN FLOOR LAUNDRY
• GENEROUS STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#1,171 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Addison Central School District (rural): math 32% / reading 35% proficiency, ranked #563 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tuscarora Elementary School (math 16% / reading 27%, grade F, #1,941 of 2,108 statewide, top 92%, 423 students, 49% FRL); Addison Middle/High School (math 44% / reading 43%, grade F, #1,043 of 1,100 statewide, top 95%, 546 students, 43% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Steuben County population projected at -20% 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 $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $145k implies a 663% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,859 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — 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 D-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. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.05%
• DSCR: 1.80
• GRM: 6.2

CMA / ARV

• ARV (median comp): $143,539
• List price: $144,900
• Delta: 0.95%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 37.7%
• Equity multiple: 3.90×
• Total profit: $117,764
• Equity at exit: $130,537

10-year hold

• IRR: 32.4%
• Equity multiple: 8.79×
• Total profit: $316,208
• Equity at exit: $281,509

Cash invested: $40,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 14898

• Home prices YoY: 3.3%
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $1,951 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$111 /mo · $1,331/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $610

Break-even live

Break-even rent $1,179

Max offer price $144,900

Occupancy floor 64%

Sensitivity live

Price	-10% $692	-5% $651	+0% $610	+5% $569	+10% $528
Rent	-10% $456	-5% $533	+0% $610	+5% $687	+10% $764
Rate	-1.0pp $683	-0.5pp $647	base $610	+0.5pp $573	+1.0pp $534

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$1,952
Total (2 units)			$1,951

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-24
   price $144,900 1161-char remark

   Show marketing remark (1161 chars)

   Welcome to this beautifully remodeled home nestled in the quiet small town of Woodhull, New York. This home combines comfort with modern updates, find high ceilings, abundant natural light, and an inviting open-concept layout that creates a bright living space. Offering 3 bedrooms and 2 full bathrooms, one conveniently located on the main floor and another upstairs. Main floor laundry adds everyday convenience, while generous storage throughout and additional blank space provide the perfect opportunity to customize and make the home your own. Step outside to enjoy the porch overlooking the backyard, an ideal setting for relaxing evenings or entertaining guests. A detached garage/shed with loft space offers excellent additional storage or workshop potential. Located within a short walk to local amenities in Woodhull, this property also provides easy access to nearby destinations, including the City of Corning, New York and the scenic beauty of Keuka Lake, both just a short drive away. This move-in ready home offers small-town charm with convenient access to recreation, shopping, and dining. Don't miss your chance to own this fantastic property!

2. 2026-04-01
   price $149,900 1161-char remark

   Show marketing remark (1161 chars)

   Welcome to this beautifully remodeled home nestled in the quiet small town of Woodhull, New York. This home combines comfort with modern updates, find high ceilings, abundant natural light, and an inviting open-concept layout that creates a bright living space. Offering 3 bedrooms and 2 full bathrooms, one conveniently located on the main floor and another upstairs. Main floor laundry adds everyday convenience, while generous storage throughout and additional blank space provide the perfect opportunity to customize and make the home your own. Step outside to enjoy the porch overlooking the backyard, an ideal setting for relaxing evenings or entertaining guests. A detached garage/shed with loft space offers excellent additional storage or workshop potential. Located within a short walk to local amenities in Woodhull, this property also provides easy access to nearby destinations, including the City of Corning, New York and the scenic beauty of Keuka Lake, both just a short drive away. This move-in ready home offers small-town charm with convenient access to recreation, shopping, and dining. Don't miss your chance to own this fantastic property!

3. 2026-02-19
   listed $154,900 Active 1161-char remark

   Show marketing remark (1161 chars)

   Welcome to this beautifully remodeled home nestled in the quiet small town of Woodhull, New York. This home combines comfort with modern updates, find high ceilings, abundant natural light, and an inviting open-concept layout that creates a bright living space. Offering 3 bedrooms and 2 full bathrooms, one conveniently located on the main floor and another upstairs. Main floor laundry adds everyday convenience, while generous storage throughout and additional blank space provide the perfect opportunity to customize and make the home your own. Step outside to enjoy the porch overlooking the backyard, an ideal setting for relaxing evenings or entertaining guests. A detached garage/shed with loft space offers excellent additional storage or workshop potential. Located within a short walk to local amenities in Woodhull, this property also provides easy access to nearby destinations, including the City of Corning, New York and the scenic beauty of Keuka Lake, both just a short drive away. This move-in ready home offers small-town charm with convenient access to recreation, shopping, and dining. Don't miss your chance to own this fantastic property!

4. 2025-03-04
   soldstatus $19,000
5. 2018-01-05
   soldstatus $25,000
6. 2017-12-20
   soldstatus $25,000 92-char remark

   Show marketing remark (92 chars)

   Some work needs to be done. Fully rented now. Owner will consider financing with $5000 down.

7. 2017-07-28
   listed $29,900 92-char remark

   Show marketing remark (92 chars)

   Some work needs to be done. Fully rented now. Owner will consider financing with $5000 down.

8. 2009-11-09
   soldstatus $20,000

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $1,331 · $111/mo
• Projected year-2 tax: $1,810 · $151/mo
• Expected delta: +$479/yr (+$40/mo · 36.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,412
• − Mortgage interest: −$8,117
• − Property taxes: −$1,331
• − Insurance: −$724
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − Depreciation: −$4,215
• Taxable income: $5,279
• Est. tax owed @ 24.0%: −$1,267
• After-tax cash flow: $6,055/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: Addison Central School District
• NCES district ID: 3602370
• Math proficiency: 32% ▼ -12.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $44,519
• Composite: 28.58/100
• National rank: #6720
• State rank: #563 of 590 in NY

Livability — Elkland

• Score: 65/100
• State rank: #1171
• US rank: #13602

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,501

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 93,062 people
• By 2030: 89,793 · -3.5%
• By 2040: 82,353 · -11.5%
• By 2050: 74,286 · -20.2%
• By 2075: 55,589 · -40.3%
• By 2100: 37,587 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 6%
• Common ancestry: Polish 11% Lithuanian 3% Italian 1%
• Foreign-born: 0%
• Languages at home: 85% English-only · German/W. Germanic 15%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+31.8) · D 34.1% · R 65.9%
• 2008→2024 swing: -15.0pp toward R · 2008: -16.8pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+29.6 2016: R+36.2 2012: R+16.4 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.06%
• Current HPI: 310.6944
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+624.5% since first listed

8 events — show timeline

• 2026-04-24 Price Changed $144,900 UNYREIS
• 2026-04-01 Price Changed $149,900 UNYREIS
• 2026-02-19 Listed $154,900 UNYREIS
• 2025-03-04 Sold (Public Records) $19,000 Public Records
• 2018-01-05 Sold (Public Records) $25,000 Public Records
• 2017-12-20 Sold (MLS) $25,000 UNYREIS
• 2017-07-28 Listed $29,900 UNYREIS
• 2009-11-09 Sold (Public Records) $20,000 Public Records

Property tax history

-6.1%/yr

Latest (2025): $1,331 · +19.4% YoY. Source: county tax records.