1242 W Church St · West Elmira, NY 14905

$99,000

3 bd · 2.0 ba · 2,268 sqft · SingleFamily public records · 102 Days on market

Built 1895 0.43 ac lot $44/sqft · 57% below area ↓ 45% since listing

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Why this score? — see what drove the D- 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 +10.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Livability +3.6/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located near Hendy Elementary and the West Elmira Fire Department, this spacious 4-bedroom, 2-bath home offers incredible potential. Once a two-unit apartment house, the property retains its original layout with separate upstairs and downstairs living areas—perfect for those seeking to reconvert it into a duplex or maintain as a single-family residence. Inside, you'll find generously sized rooms throughout, many of which are just waiting to be restored to their former glory. With a bit of vision and TLC, this home can shine once again. Whether you're looking to create a multi-family income property or your dream home in a prime location, this West Elmira gem offers endless possibilities!"

Key facts

• Prime location
• 0.43 acre lot
• Parking

Tags

• TWO-UNIT APARTMENT HOUSE
• MULTI-FAMILY INCOME PROPERTY
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $87k (12.2% below list).
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.2% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 4.6% in West Elmira — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 72/100 on livability (#341 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: amenities F, commute 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: 39 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

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $40k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; flood insurance adds $56/mo; built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,913 (12.2% 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 102 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.11% ✓
• Cap rate: 5.64%
• Cash-on-cash: -2.32%
• DSCR: 0.90
• GRM: 7.5

CMA / ARV

• ARV (median comp): $228,829
• List price: $99,000
• Delta: -56.74%
• 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
1518 W Water St	0.50mi	4/2.0 (+1)	2,278 (+0%)	2mo	$225,000	$99	70
73 Durland Ave	0.33mi	3/2.0	2,438 (+8%)	4mo	$261,900	$107	68
1307 W Church St	0.20mi	3/1.5	2,040 (-10%)	4mo	$245,000	$120	68
93 Durland Ave	0.22mi	4/3.5 (+1)	2,441 (+8%)	1mo	$305,000	$125	65
1249 W Clinton St	0.25mi	4/2.5 (+1)	2,064 (-9%)	6mo	$274,900	$133	61
1058 W 2nd St	0.44mi	4/2.5 (+1)	2,394 (+6%)	9mo	$340,000	$142	56
1055 W Clinton St	0.51mi	3/2.5	2,453 (+8%)	8mo	$299,900	$122	54
94 Evergreen Ave	0.64mi	4/2.0 (+1)	2,092 (-8%)	4mo	$195,000	$93	49
919 Fassett Rd	0.62mi	3/3.0	2,041 (-10%)	10mo	$202,000	$99	42
907 W Clinton St	0.74mi	3/2.0	1,958 (-14%)	2mo	$275,000	$140	41
711 Wall St	0.73mi	2/2.0 (-1)	2,502 (+10%)	6mo	$271,000	$108	39
34 Sunnyside Dr	0.56mi	4/2.5 (+1)	1,968 (-13%)	8mo	$245,900	$125	38

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: -24.0%
• Equity multiple: 0.18×
• Total profit: $-22,793
• Equity at exit: $14,761

10-year hold

• IRR: -18.5%
• Equity multiple: -0.01×
• Total profit: $-27,994
• Equity at exit: $8,560

Cash invested: $27,720 (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 14905

• Home prices YoY: -9.4%
• Active inventory: 39
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$362 /mo · $4,346/yr
• Insurance: −$41
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-109

Break-even live

Break-even rent $1,238

Max offer price $86,913

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 W Water St Unit A Elmira, NY	2.0	1.0	2246	$1,100	$0.49	43d	1	1.05mi

Listing history 21 events

1. 2026-06-19
   days on market $99,000 Active 102 DOM
2. 2026-06-18
   days on market $99,000 Active 101 DOM
3. 2026-06-17
   days on market $99,000 Active 100 DOM
4. 2026-06-16
   days on market $99,000 Active 99 DOM
5. 2026-06-15
   days on market $99,000 Active 98 DOM
6. 2026-06-14
   days on market $99,000 Active 96 DOM
7. 2026-06-12
   days on market $99,000 Active 95 DOM
8. 2026-06-09
   days on market $99,000 Active 92 DOM
9. 2026-06-08
   days on market $99,000 Active 91 DOM
10. 2026-06-07
    days on market $99,000 Active 90 DOM
11. 2026-06-05
    days on market $99,000 Active 87 DOM
12. 2026-06-03
    days on market $99,000 Active 86 DOM
13. 2026-06-02
    days on market $99,000 Active 85 DOM
14. 2026-06-01
    days on market $99,000 Active 84 DOM
15. 2026-05-31
    days on market $99,000 Active 83 DOM
16. 2026-05-30
    days on market $99,000 Active 82 DOM
17. 2026-04-17
    price $99,000 708-char remark

    Show marketing remark (708 chars)

    Located near Hendy Elementary and the West Elmira Fire Department, this spacious 4-bedroom, 2-bath home offers incredible potential. Once a two-unit apartment house, the property retains its original layout with separate upstairs and downstairs living areas—perfect for those seeking to reconvert it into a duplex or maintain as a single-family residence. Inside, you'll find generously sized rooms throughout, many of which are just waiting to be restored to their former glory. With a bit of vision and TLC, this home can shine once again. Whether you're looking to create a multi-family income property or your dream home in a prime location, this West Elmira gem offers endless possibilities!"

18. 2026-03-09
    listed $139,000 Active 708-char remark

    Show marketing remark (708 chars)

    Located near Hendy Elementary and the West Elmira Fire Department, this spacious 4-bedroom, 2-bath home offers incredible potential. Once a two-unit apartment house, the property retains its original layout with separate upstairs and downstairs living areas—perfect for those seeking to reconvert it into a duplex or maintain as a single-family residence. Inside, you'll find generously sized rooms throughout, many of which are just waiting to be restored to their former glory. With a bit of vision and TLC, this home can shine once again. Whether you're looking to create a multi-family income property or your dream home in a prime location, this West Elmira gem offers endless possibilities!"

19. 2026-02-23
    historical
20. 2025-11-05
    status Active
21. 2025-08-21
    listed $179,900 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: $4,346 · $362/mo
• Projected year-2 tax: $4,346 · $362/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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥97°F today · 18 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: $13,200
• − Mortgage interest: −$5,546
• − Property taxes: −$4,346
• − Insurance: −$1,162
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$2,880
• Taxable loss: −$2,845
• Est. tax savings @ 24.0%: +$683
• After-tax cash flow: $-626/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 — West Elmira

• Score: 72/100
• State rank: #341
• US rank: #5769

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Elmira, NY
• City population: 8,976
• Population (ZIP): 8,976

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 (82%)
• Race & ethnicity: White 82% Two or more races 7% Black 7% Hispanic / Latino 3% Asian 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 2% Chinese 1% Russian/Polish/Slavic 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: ▼ -26.09%
• Current HPI: 252.0326
• 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

-45.0% since first listed

5 events — show timeline

• 2026-04-17 Price Changed $99,000 UNYREIS
• 2026-03-09 Listed $139,000 UNYREIS
• 2026-02-23 Listing Removed — UNYREIS
• 2025-11-05 Relisted — UNYREIS
• 2025-08-21 Listed $179,900 UNYREIS

Property tax history

+5.5%/yr

Latest (2025): $4,346 · +94.5% YoY. Source: county tax records.