360 College Ave · Elmira, NY 14901

$99,500

4 bd · 3.5 ba · 2,571 sqft · SingleFamily public records · 137 Days on market

Built 1880 4,557 sqft lot $39/sqft · 12% below area Est $113k · 12% 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 +25.4/30.0
• ARV discount +12.8/15.0
• Appreciation +10.0/10.0
• 1% rule +8.8/10.0
• DSCR +8.4/10.0
• 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

Step into the character and charm of 360 College Avenue, a stately 19th-century Elmira home that blends classic architecture with generous living space. This spacious residence offers a welcoming front porch, high ceilings, and the kind of original details you just don’t find in newer construction. Inside, you’ll find multiple living and dining areas perfect for entertaining, along with a large kitchen footprint that’s ready for your modern touch. Upstairs, the home provides comfortable bedroom space for family, guests, or a home office setup, with an additional half bath on the main level for everyday convenience. Outside, the deep city lot gives you room for gardens, pets, or play, all just minutes from downtown Elmira, Elmira College, shopping, and local parks. Finished 3rd story! Currently tenant occupied with long term tenants. Please allow 48 hours to contact tenants for showings!

Key facts

• Original details
• High ceilings
• 4,557 sq ft lot

Tags

• WELCOMING FRONT PORCH
• HIGH CEILINGS
• ORIGINAL DETAILS
• MULTIPLE LIVING AREAS
• LARGE KITCHEN FOOTPRINT
• COMFORTABLE BEDROOM SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

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; 1 comparable units currently listed for rent nearby; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($688 loan paydown + $10k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $32k; list at $100k implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.38% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.91%
• DSCR: 1.44
• GRM: 6.0

CMA / ARV

• ARV (median comp): $112,723
• List price: $99,500
• Delta: -11.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209-211 Fulton St	0.60mi	5/2.0 (+1)	2,684 (+4%)	5mo	$120,000	$45	49
517 Euclid Ave	0.67mi	4/2.0	2,252 (-12%)	1mo	$190,000	$84	41
610 Euclid Ave	0.65mi	4/3.5	2,871 (+12%)	21mo	$287,000	$100	33
401 Hoffman St	0.73mi	4/2.0	2,316 (-10%)	14mo	$60,000	$26	32
316 Irvine Pl	0.67mi	3/2.0 (-1)	2,203 (-14%)	16mo	$45,000	$20	20

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: 31.6%
• Equity multiple: 3.48×
• Total profit: $68,971
• Equity at exit: $89,637

10-year hold

• IRR: 27.3%
• Equity multiple: 7.89×
• Total profit: $191,831
• Equity at exit: $193,307

Cash invested: $27,860 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$293 /mo · $3,515/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $230

Break-even live

Break-even rent $1,084

Max offer price $99,500

Occupancy floor 78%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
414 Walnut St Elmira, NY	3.0	1.0	3564	$1,375	$0.39	43d	1	0.40mi

Listing history 23 events

1. 2026-06-19
   days on market $99,500 Active 137 DOM
2. 2026-06-18
   days on market $99,500 Active 136 DOM
3. 2026-06-17
   days on market $99,500 Active 135 DOM
4. 2026-06-16
   days on market $99,500 Active 134 DOM
5. 2026-06-15
   days on market $99,500 Active 133 DOM
6. 2026-06-14
   days on market $99,500 Active 131 DOM
7. 2026-06-12
   days on market $99,500 Active 130 DOM
8. 2026-06-09
   days on market $99,500 Active 127 DOM
9. 2026-06-08
   days on market $99,500 Active 126 DOM
10. 2026-06-07
    days on market $99,500 Active 125 DOM
11. 2026-06-05
    days on market $99,500 Active 122 DOM
12. 2026-06-03
    days on market $99,500 Active 121 DOM
13. 2026-06-02
    days on market $99,500 Active 120 DOM
14. 2026-06-01
    days on market $99,500 Active 119 DOM
15. 2026-05-31
    days on market $99,500 Active 118 DOM
16. 2026-05-30
    days on market $99,500 Active 117 DOM
17. 2026-02-02
    listed $99,500 Active 918-char remark

    Show marketing remark (918 chars)

    Step into the character and charm of 360 College Avenue, a stately 19th-century Elmira home that blends classic architecture with generous living space. This spacious residence offers a welcoming front porch, high ceilings, and the kind of original details you just don’t find in newer construction. Inside, you’ll find multiple living and dining areas perfect for entertaining, along with a large kitchen footprint that’s ready for your modern touch. Upstairs, the home provides comfortable bedroom space for family, guests, or a home office setup, with an additional half bath on the main level for everyday convenience. Outside, the deep city lot gives you room for gardens, pets, or play, all just minutes from downtown Elmira, Elmira College, shopping, and local parks. Finished 3rd story! Currently tenant occupied with long term tenants. Please allow 48 hours to contact tenants for showings!

18. 2017-08-24
    historical
19. 2016-08-24
    listed $55,900
20. 2016-08-24
    listed $55,900
21. 2010-01-28
    historical
22. 2009-07-28
    listed $45,900
23. 2000-03-17
    soldstatus $32,000

ⓘ 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: $3,515 · $293/mo
• Projected year-2 tax: $3,515 · $293/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥97°F today · 17 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: $16,500
• − Mortgage interest: −$5,574
• − Property taxes: −$3,515
• − Insurance: −$498
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$2,895
• Taxable income: $1,380
• Est. tax owed @ 24.0%: −$331
• After-tax cash flow: $2,430/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

+210.9% since first listed

7 events — show timeline

• 2026-02-02 Listed $99,500 UNYREIS
• 2017-08-24 Listing Removed — UNYREIS
• 2016-08-24 Listed $55,900 UNYREIS
• 2016-08-24 Listed $55,900 GBAOR
• 2010-01-28 Listing Removed — UNYREIS
• 2009-07-28 Listed $45,900 UNYREIS
• 2000-03-17 Sold (Public Records) $32,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $3,515 · -11.1% YoY. Source: county tax records.