602 Logan St · Elmira, NY 14901

$115,000

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 55 Days on market

Built 1890 $80/sqft · 33% below area Est $171k · 33% 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 +23.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.4/10.0
• 1% rule +6.7/10.0
• 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

Very nice 3 bedroom home in desirable location. Vinyl siding, hardwood floors and newer furnace. This one won't last long.

Key facts

• Built 1890
• Listed 54 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story house; Existing construction; Vinyl siding
• Construction: Stone foundation
• Exterior features: Blacktop driveway; City street frontage; Near public transit; Rectangular residential lot

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Three bedrooms — all on the second level
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Pull-down attic stairs; Full basement with dirt floor
• Laundry & utility: Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% 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: 81 active listings in the ZIP; 10 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

• In year one you build about $12k of equity ($795 loan paydown + $12k 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 $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $43k; list at $115k implies a 170% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.17% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.70%
• DSCR: 1.34
• GRM: 7.1

CMA / ARV

• ARV (median comp): $170,971
• List price: $115,000
• Delta: -32.74%
• 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
921 Grove St	0.25mi	3/1.0	1,414 (-2%)	5mo	$134,000	$95	81
660 Walnut St	0.21mi	4/1.5 (+1)	1,400 (-3%)	1mo	$150,000	$107	78
862 Magee St	0.73mi	3/1.0	1,440 (0%)	1mo	$64,900	$45	65
478 Roe Ave	0.47mi	3/1.0	1,512 (+5%)	8mo	$157,500	$104	63
511 Davis St	0.43mi	3/1.0	1,592 (+11%)	1mo	$63,000	$40	61
336 W Washington Ave	0.44mi	3/2.0	1,344 (-7%)	5mo	$119,900	$89	60
717 W Gray St	0.65mi	3/1.5	1,485 (+3%)	9mo	$132,500	$89	55
720 W Church St	0.56mi	2/1.5 (-1)	1,514 (+5%)	5mo	$33,000	$22	54
1002 Johnson St	0.53mi	3/1.0	1,276 (-11%)	8mo	$82,500	$65	50
816 W Gray St	0.71mi	3/1.0	1,642 (+14%)	0mo	$133,000	$81	43
903 W 1st St	0.70mi	3/1.5	1,632 (+13%)	4mo	$125,000	$77	40
950 N Main St	0.73mi	4/1.5 (+1)	1,644 (+14%)	7mo	$37,000	$23	29

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: 29.9%
• Equity multiple: 3.36×
• Total profit: $75,858
• Equity at exit: $103,601

10-year hold

• IRR: 25.9%
• Equity multiple: 7.62×
• Total profit: $213,151
• Equity at exit: $223,420

Cash invested: $32,200 (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: 81
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,347 high
• Mortgage (P&I): −$603
• Tax from tax record: −$207 /mo · $2,478/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $207

Break-even live

Break-even rent $1,085

Max offer price $115,000

Occupancy floor 80%

Sensitivity live

Price	-10% $272	-5% $239	+0% $207	+5% $174	+10% $142
Rent	-10% $100	-5% $154	+0% $207	+5% $260	+10% $313
Rate	-1.0pp $265	-0.5pp $236	base $207	+0.5pp $177	+1.0pp $147

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
970 Scio St Elmira, NY	2.0	1.0	911	$1,200	$1.32	44d	1	0.41mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	44d	1	0.43mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	0.43mi
357 W Clinton St Unit 1 Elmira, NY	2.0	1.5	1650	$1,500	$0.91	44d	1	0.50mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	44d	1	0.50mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	0.78mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	0.83mi
1210 W Water St Elmira, NY	2.0	2.0	1340	$1,995	$1.49	44d	1	1.25mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	44d	1	1.33mi
160 Boardman St Unit B Elmira, NY	2.0	1.0	1727	$800	$0.46	44d	1	1.37mi

Listing history 24 events

1. 2026-06-21
   days on market $115,000 Active 55 DOM
2. 2026-06-19
   days on market $115,000 Active 53 DOM
3. 2026-06-18
   days on market $115,000 Active 52 DOM
4. 2026-06-17
   days on market $115,000 Active 51 DOM
5. 2026-06-16
   days on market $115,000 Active 50 DOM
6. 2026-06-15
   days on market $115,000 Active 49 DOM
7. 2026-06-14
   days on market $115,000 Active 47 DOM
8. 2026-06-12
   days on market $115,000 Active 46 DOM
9. 2026-06-09
   days on market $115,000 Active 43 DOM
10. 2026-06-08
    days on market $115,000 Active 42 DOM
11. 2026-06-07
    days on market $115,000 Active 41 DOM
12. 2026-06-05
    days on market $115,000 Active 38 DOM
13. 2026-06-03
    days on market $115,000 Active 37 DOM
14. 2026-06-02
    days on market $115,000 Active 36 DOM
15. 2026-06-01
    days on market $115,000 Active 35 DOM
16. 2026-05-31
    days on market $115,000 Active 34 DOM
17. 2026-05-30
    days on market $115,000 Active 33 DOM
18. 2026-05-08
    price $115,000 752-char remark
19. 2026-04-27
    listed $119,000 Active 752-char remark
20. 2010-06-17
    historical
21. 2010-06-01
    listed $63,900
22. 2008-08-26
    soldstatus $42,550
23. 2008-08-18
    soldstatus $42,550

    Show marketing remark (122 chars)

    Very nice 3 bedroom home in desirable location. Vinyl siding, hardwood floors and newer furnace. This one won't last long.

24. 2007-12-29
    listed $44,900

    Show marketing remark (122 chars)

    Very nice 3 bedroom home in desirable location. Vinyl siding, hardwood floors and newer furnace. This one won't last long.

ⓘ 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: $2,478 · $207/mo
• Projected year-2 tax: $2,478 · $207/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 · 94% 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 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: $16,166
• − Mortgage interest: −$6,442
• − Property taxes: −$2,478
• − Insurance: −$575
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − Depreciation: −$3,345
• Taxable income: $739
• Est. tax owed @ 24.0%: −$177
• After-tax cash flow: $2,303/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

+156.1% since first listed

7 events — show timeline

• 2026-05-08 Price Changed $115,000 UNYREIS
• 2026-04-27 Listed $119,000 UNYREIS
• 2010-06-17 Listing Removed — UNYREIS
• 2010-06-01 Listed $63,900 UNYREIS
• 2008-08-26 Sold (Public Records) $42,550 Public Records
• 2008-08-18 Sold (MLS) $42,550 UNYREIS
• 2007-12-29 Listed $44,900 UNYREIS

Property tax history

+9.2%/yr

Latest (2025): $2,478 · -25.8% YoY. Source: county tax records.