442 W 5th St · Elmira, NY 14901

$54,900

2 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 58 Days on market

Built 1900 3,400 sqft lot $43/sqft · 54% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 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

Come see this cozy 1,272 +-, 2 - bedroom, 1 - bathroom home situated within walking distance to Elmira College, and Grove Park! Step inside and see the large living room that leads to the formal dining room. From there, the kitchen provides access to the basement and large mud-storage room. Head upstairs to find two generously sized bedrooms and the full bath. Outside, a secluded, fenced in yard is a great place to relax. Lastly a one car garage provides additional storage or a workshop space. Currently being used as a single-family rental with a long-term tenant, providing flexibility as an income property, or a full-time residence. Don't miss your chance to own this great property! Property being conveyed in "as-is" condition.

Key facts

• One car garage
• Formal dining room
• Access to basement

Tags

• SECLUDED FENCED IN YARD
• LARGE LIVING ROOM
• FORMAL DINING ROOM
• ACCESS TO BASEMENT
• LARGE MUD-STORAGE ROOM
• ONE CAR GARAGE

🏷️ Possibly a rental listed for sale. The $54,900 price doesn't fit this home's estimated sale value (~$120,223) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $635 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.2% vs local median 10.1% in Elmira — 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 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; 9 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 $6k of equity ($380 loan paydown + $5k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $55k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,253 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 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. 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. 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: 2.48% ✓
• Cap rate: 20.17%
• Cash-on-cash: 49.56%
• DSCR: 3.21
• GRM: 3.4

CMA / ARV

• ARV (median comp): $120,223
• List price: $54,900
• Delta: -54.33%
• 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
1002 Johnson St	0.52mi	3/1.0 (+1)	1,276 (+0%)	8mo	$82,500	$65	63
336 W Washington Ave	0.32mi	3/2.0 (+1)	1,344 (+6%)	5mo	$119,900	$89	62
347 Irvine Pl	0.33mi	3/1.0 (+1)	1,167 (-8%)	5mo	$30,000	$26	62
823 Canal St	0.68mi	2/—	1,242 (-2%)	8mo	$12,000	$10	58
561 W Washington Ave	0.27mi	2/1.5	1,421 (+12%)	10mo	$130,000	$91	57
921 Grove St	0.37mi	3/1.0 (+1)	1,414 (+11%)	5mo	$134,000	$95	55
340 Webber Pl	0.43mi	3/1.0 (+1)	1,131 (-11%)	9mo	$115,000	$102	49
418 Tompkins St	0.70mi	3/1.0 (+1)	1,190 (-6%)	4mo	$162,720	$137	48
862 Magee St	0.56mi	3/1.0 (+1)	1,440 (+13%)	1mo	$64,900	$45	46
965 Wisner St	0.66mi	3/1.0 (+1)	1,358 (+7%)	9mo	$20,000	$15	45
410 Guinnip Ave	0.72mi	2/1.5	1,106 (-13%)	7mo	$135,000	$122	37
914 Magee St	0.61mi	3/1.5 (+1)	1,448 (+14%)	10mo	$97,000	$67	33

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: 63.3%
• Equity multiple: 5.58×
• Total profit: $70,396
• Equity at exit: $49,458

10-year hold

• IRR: 56.8%
• Equity multiple: 12.42×
• Total profit: $175,623
• Equity at exit: $106,659

Cash invested: $15,372 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,363 high
• Mortgage (P&I): −$288
• Tax from tax record: −$131 /mo · $1,577/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $635

Break-even live

Break-even rent $560

Max offer price $54,900

Occupancy floor 48%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
357 W Clinton St Unit 1 Elmira, NY	2.0	1.5	1650	$1,500	$0.91	43d	1	0.31mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	43d	1	0.31mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	43d	1	0.35mi
970 Scio St Elmira, NY	2.0	1.0	911	$1,200	$1.32	43d	1	0.50mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	43d	1	0.63mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	43d	1	0.67mi
160 Boardman St Unit B Elmira, NY	2.0	1.0	1727	$800	$0.46	43d	1	1.27mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	43d	1	1.30mi
1210 W Water St Elmira, NY	2.0	2.0	1340	$1,995	$1.49	43d	1	1.44mi

Listing history 27 events

1. 2026-06-19
   days on market $54,900 Active 58 DOM
2. 2026-06-18
   days on market $54,900 Active 57 DOM
3. 2026-06-17
   days on market $54,900 Active 56 DOM
4. 2026-06-16
   days on market $54,900 Active 55 DOM
5. 2026-06-15
   days on market $54,900 Active 54 DOM
6. 2026-06-14
   days on market $54,900 Active 52 DOM
7. 2026-06-13
   price $54,900 Active 51 DOM
8. 2026-06-12
   days on market $59,900 Active 51 DOM
9. 2026-06-09
   days on market $59,900 Active 48 DOM
10. 2026-06-08
    days on market $59,900 Active 47 DOM
11. 2026-06-07
    days on market $59,900 Active 46 DOM
12. 2026-06-05
    days on market $59,900 Active 43 DOM
13. 2026-06-03
    days on market $59,900 Active 42 DOM
14. 2026-06-02
    days on market $59,900 Active 41 DOM
15. 2026-06-01
    days on market $59,900 Active 40 DOM
16. 2026-05-31
    days on market $59,900 Active 39 DOM
17. 2026-05-30
    days on market $59,900 Active 38 DOM
18. 2026-04-22
    listed $59,900 Active 748-char remark

    Show marketing remark (748 chars)

    Come see this cozy 1,272 +-, 2 - bedroom, 1 - bathroom home situated within walking distance to Elmira College, and Grove Park! Step inside and see the large living room that leads to the formal dining room. From there, the kitchen provides access to the basement and large mud-storage room. Head upstairs to find two generously sized bedrooms and the full bath. Outside, a secluded, fenced in yard is a great place to relax. Lastly a one car garage provides additional storage or a workshop space. Currently being used as a single-family rental with a long-term tenant, providing flexibility as an income property, or a full-time residence. Don't miss your chance to own this great property! Property being conveyed in "as-is" condition.

19. 2014-05-23
    soldstatus $28,000
20. 2010-02-03
    soldstatus $22,500
21. 2010-02-01
    soldstatus $22,500 223-char remark

    Show marketing remark (223 chars)

    What a great deal for an investment or first time home buyer CHEAPER THAN PAYING RENT, Newer furnace & electric some newer windows, front porch, rear porch, fenced back yard, 1 car detached garage, was rented for $525

22. 2009-09-07
    listed $24,900 223-char remark

    Show marketing remark (223 chars)

    What a great deal for an investment or first time home buyer CHEAPER THAN PAYING RENT, Newer furnace & electric some newer windows, front porch, rear porch, fenced back yard, 1 car detached garage, was rented for $525

23. 2006-07-23
    historical
24. 2006-01-23
    listed $32,500
25. 2001-11-02
    soldstatus $25,750
26. 2001-11-02
    soldstatus $25,750
27. 2000-10-16
    listed $28,000

ⓘ 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: $1,577 · $131/mo
• Projected year-2 tax: $1,577 · $131/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 · 70% 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: $16,361
• − Mortgage interest: −$3,075
• − Property taxes: −$1,577
• − Insurance: −$274
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$1,597
• Taxable income: $7,219
• Est. tax owed @ 24.0%: −$1,733
• After-tax cash flow: $5,886/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

+113.9% since first listed

10 events — show timeline

• 2026-04-22 Listed $59,900 UNYREIS
• 2014-05-23 Sold (Public Records) $28,000 Public Records
• 2010-02-03 Sold (Public Records) $22,500 Public Records
• 2010-02-01 Sold (MLS) $22,500 UNYREIS
• 2009-09-07 Listed $24,900 UNYREIS
• 2006-07-23 Listing Removed — UNYREIS
• 2006-01-23 Listed $32,500 UNYREIS
• 2001-11-02 Sold (Public Records) $25,750 Public Records
• 2001-11-02 Sold (MLS) $25,750 UNYREIS
• 2000-10-16 Listed $28,000 UNYREIS

Property tax history

+7.6%/yr

Latest (2025): $1,577 · -10.4% YoY. Source: county tax records.