199 Wall St · Corning, NY 14830

$139,000

4 bd · 2.0 ba · 3,201 sqft · SingleFamily public records · 69 Days on market

Built 1900 5,324 sqft lot ↓ 22% since listing

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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
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Over 3,000 sq ft of living space, Welcome to the House on the Hill! This spacious home offers 4 generously sized bedrooms, 2 full bathrooms, 2 kitchens, 2 furnaces, and 2 hot water heaters- everything is DOUBLED. Live comfortably in one side while the other conjoining side could serve as the perfect in-law suite, complete with its own bedroom, bathroom, living room and kitchen. This home has so much potential! Roof replaced in 2018. Located just a few blocks away from Market Street. SOLD AS IS.

Key facts

• In-law suite
• 2 furnaces
• 2 kitchens

Tags

• 2 KITCHENS
• 2 FURNACES
• 2 HOT WATER HEATERS
• IN-LAW SUITE
• ROOF REPLACED

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water (connected); Sewer connected
• Home design: Two-story home; Resale property; Shingle roof
• Construction: Wood siding; Stone foundation
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 84 x 63

Interior

• Kitchen: Electric cooktop; Gas cooktop; Refrigerator
• Bedrooms: One main-level bedroom; Includes in-law suite / additional bedroom areas
• Flooring: Carpet; Laminate; Varies
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Gas heating; Forced-air heating
• Interior features: Entrance foyer; Eat-in kitchen; Galley kitchen; Second kitchen; In-law floorplan
• Laundry & utility: Main-level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $131k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 8.0% in Corning — 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 87/100 on livability (#14 in NY, #334 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: employment D.
• Corning City School District (town): math 44% / reading 53% proficiency, ranked #406 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 106 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Steuben County population projected at -20% 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 $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,659 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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. 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.47% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.43%
• DSCR: 1.73
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $403,326
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
96 E 4th St	0.11mi	4/2.5	3,014 (-6%)	0mo	$489,000	$162	83
176 Cedar St	0.09mi	4/2.0	3,147 (-2%)	16mo	$350,000	$111	79
65 E 4th St	0.10mi	3/3.5 (-1)	3,102 (-3%)	8mo	$390,000	$126	73
173 E 3rd St	0.17mi	4/3.5	2,930 (-8%)	9mo	$259,000	$88	64
10 W Second St	0.23mi	4/2.5	2,784 (-13%)	10mo	$360,000	$129	57
181 Upper Delevan Ave	0.32mi	3/3.0 (-1)	3,098 (-3%)	18mo	$433,000	$140	56
4 E Fourth St	0.22mi	5/2.5 (+1)	3,469 (+8%)	22mo	$403,000	$116	50
261 Upper Delevan Ave	0.48mi	3/2.5 (-1)	2,933 (-8%)	9mo	$329,000	$112	49
140 E First St	0.16mi	5/1.5 (+1)	3,624 (+13%)	19mo	$410,000	$113	48
312 Steuben St	0.60mi	4/3.0	2,741 (-14%)	11mo	$393,500	$144	35

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: 7.6%
• Equity multiple: 1.30×
• Total profit: $11,524
• Equity at exit: $20,725

10-year hold

• IRR: 16.9%
• Equity multiple: 2.39×
• Total profit: $54,171
• Equity at exit: $12,018

Cash invested: $38,920 (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 14830

• Active inventory: 106
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,046 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$296 /mo · $3,556/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $533

Break-even live

Break-even rent $1,371

Max offer price $139,000

Occupancy floor 69%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-29
   status Pending
2. 2026-04-21
   price $139,000
3. 2026-03-31
   price $150,000
4. 2026-03-31
   status Active
5. 2026-03-24
   historical Active Under Contract
6. 2026-03-21
   price $160,000
7. 2026-03-02
   price $169,900
8. 2026-02-19
   listed $179,000 Active

ⓘ 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: $3,556 · $296/mo
• Projected year-2 tax: $3,556 · $296/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 ≥94°F today · 16 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: $24,548
• − Mortgage interest: −$7,786
• − Property taxes: −$3,556
• − Insurance: −$695
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − Depreciation: −$4,044
• Taxable income: $4,540
• Est. tax owed @ 24.0%: −$1,090
• After-tax cash flow: $5,305/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: Corning City School District
• NCES district ID: 3608400
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 53% ▲ 4.00%
• Median HH income: $53,042
• Composite: 41.8/100
• National rank: #3392
• State rank: #406 of 590 in NY

Livability — Corning

• Score: 87/100
• State rank: #14
• US rank: #334

Category grades

Amenities A+ Commute A- Cost of living A Crime B- Employment D Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corning, NY
• County: Steuben County · 41,193 people
• City population: 19,015
• Metro: Corning, NY
• Population (ZIP): 19,015
• Household income: $73,263
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 565.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Spanish 1% Other Asian/Pacific 1%

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: ▼ -94.59%
• Current HPI: 173.9857
• Rent YoY: —
• Metro: Corning, NY
• 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

-22.3% since first listed

8 events — show timeline

• 2026-04-29 Pending — UNYREIS
• 2026-04-21 Price Changed $139,000 UNYREIS
• 2026-03-31 Price Changed $150,000 UNYREIS
• 2026-03-31 Relisted — UNYREIS
• 2026-03-24 Contingent — UNYREIS
• 2026-03-21 Price Changed $160,000 UNYREIS
• 2026-03-02 Price Changed $169,900 UNYREIS
• 2026-02-19 Listed $179,000 UNYREIS

Property tax history

+3.3%/yr

Latest (2025): $3,556 · -1.9% YoY. Source: county tax records.