325 Fitch St · Elmira, NY 14901

$149,000

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 49 Days on market

Built 1951 0.28 ac lot Est $111k · 34% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +7.7/30.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• DSCR +1.8/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Lovely 3 bedroom Cape Cod on a corner lot in a "tucked away" community. Very well cared for with hardwood floors, 1-car garage, & priced to sell. Just the right size for the budget conscience.

Key facts

• Great storage
• New furnace
• New patio area

Tags

• NEW PATIO AREA
• PRIVATE FENCED YARD
• NEW FURNACE
• NEW FLOORING
• GREAT STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (17.9% below list).
• Recommended offer: $118k (20.7% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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; 6 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 $16k of equity ($1k loan paydown + $15k 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.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $66k; list at $149k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,098 (20.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.03%
• DSCR: 0.78
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $111,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1116 North Main St	0.29mi	3/1.0	1,228 (-2%)	3mo	$118,000	$96	82
1002 Johnson St	0.17mi	3/1.0	1,276 (+2%)	8mo	$82,500	$65	81
418 Tompkins St	0.26mi	3/1.0	1,190 (-5%)	4mo	$162,720	$137	76
347 Irvine Pl	0.26mi	3/1.0	1,167 (-6%)	5mo	$30,000	$26	73
325 Noble St	0.41mi	3/1.0	1,237 (-1%)	9mo	$140,000	$113	72
336 W Center St	0.25mi	3/2.0	1,304 (+4%)	7mo	$115,000	$88	71
336 W Washington Ave	0.28mi	3/2.0	1,344 (+8%)	5mo	$119,900	$89	66
823 Canal St	0.52mi	2/— (-1)	1,242 (-0%)	8mo	$12,000	$10	63
965 Wisner St	0.33mi	3/1.0	1,358 (+9%)	9mo	$20,000	$15	62
921 Grove St	0.48mi	3/1.0	1,414 (+13%)	5mo	$134,000	$95	51
1320 Grand Central Ave	0.74mi	3/1.0	1,376 (+10%)	3mo	$37,500	$27	46
660 Walnut St	0.64mi	4/1.5 (+1)	1,400 (+12%)	1mo	$150,000	$107	42

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: 20.7%
• Equity multiple: 2.68×
• Total profit: $70,095
• Equity at exit: $134,231

10-year hold

• IRR: 18.9%
• Equity multiple: 6.16×
• Total profit: $215,354
• Equity at exit: $289,474

Cash invested: $41,720 (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: 10.1×

Monthly cashflow live

• Estimated rent: $1,224 high
• Mortgage (P&I): −$781
• Tax from tax record: −$298 /mo · $3,578/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $-175

Break-even live

Break-even rent $1,445

Max offer price $118,098

Occupancy floor —

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
970 Scio St Elmira, NY	2.0	1.0	911	$1,200	$1.32	43d	1	0.54mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	43d	1	0.88mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	43d	1	0.89mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	43d	1	0.98mi
410 E 2nd St Unit FS3W Elmira, NY	3.0	1.0	800	$1,250	$1.56	43d	1	1.06mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	43d	1	1.13mi

Listing history 5 events

1. 2025-11-21
   status Pending
2. 2025-10-02
   listed $149,000 Active
3. 2019-07-11
   soldstatus $66,000
4. 2019-07-01
   soldstatus $66,000 207-char remark

   Show marketing remark (207 chars)

   Lovely 3 bedroom Cape Cod on a corner lot in a "tucked away" community. Very well cared for with hardwood floors, 1-car garage, & priced to sell. Just the right size for the budget conscience.

5. 2019-04-29
   listed $69,900 207-char remark

   Show marketing remark (207 chars)

   Lovely 3 bedroom Cape Cod on a corner lot in a "tucked away" community. Very well cared for with hardwood floors, 1-car garage, & priced to sell. Just the right size for the budget conscience.

ⓘ 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: $3,578 · $298/mo
• Projected year-2 tax: $3,578 · $298/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 17 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: $14,684
• − Mortgage interest: −$8,346
• − Property taxes: −$3,578
• − Insurance: −$745
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$4,335
• Taxable loss: −$4,669
• Est. tax savings @ 24.0%: +$1,121
• After-tax cash flow: $-979/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

+113.2% since first listed

5 events — show timeline

• 2025-11-21 Pending — UNYREIS
• 2025-10-02 Listed $149,000 UNYREIS
• 2019-07-11 Sold (Public Records) $66,000 Public Records
• 2019-07-01 Sold (MLS) $66,000 UNYREIS
• 2019-04-29 Listed $69,900 UNYREIS

Property tax history

+15.9%/yr

Latest (2025): $3,578 · -12.4% YoY. Source: county tax records.