421 High St · Elmira, NY 14901

$109,999

3 bd · 1.0 ba · 1,435 sqft · SingleFamily public records · 86 Days on market

Built 1900 2,635 sqft lot

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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 +26.4/30.0
• Appreciation +10.0/10.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Recently Renovated & Ready to Earn! Why deal with the headaches of a fixer-upper when you can own a fully updated, income-producing asset today? 421 High Street offers a rare "turn-key" opportunity in the heart of Elmira. This 3-bedroom, 1-bathroom home has been meticulously renovated from top to bottom, specifically tailored for durability and modern tenant appeal. The Property Highlights: Modern Interior: Step into a bright, open living space featuring brand-new luxury laminate and vinyl flooring throughout—perfect for high-traffic rental use without the worry of carpet maintenance. Updated Kitchen & Baths: The heart of the home features a refreshed eat-in

Key facts

• Fully updated
• Turn-key opportunity
• Updated mechanicals

Tags

• FULLY UPDATED
• TURN-KEY OPPORTUNITY
• BRIGHT OPEN LIVING SPACE
• UPDATED KITCHEN
• FIRST-FLOOR LAUNDRY ROOM
• UPDATED MECHANICALS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% 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; 8 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 $12k of equity ($760 loan paydown + $11k 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $21k; list at $110k implies a 424% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; 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 $103,399 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.20% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.20%
• DSCR: 1.50
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $51,660
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
421 High St	0.00mi	3/1.5	1,435 (0%)	0mo	$100,000	$70	98
600 Beach St	0.46mi	3/1.5	1,432 (-0%)	10mo	$77,319	$54	68
862 Magee St	0.69mi	3/1.0	1,440 (+0%)	1mo	$64,900	$45	66
810 Oak St	0.47mi	3/1.0	1,341 (-7%)	6mo	$13,500	$10	62
812 Jay St	0.27mi	3/1.5	1,568 (+9%)	11mo	$34,500	$22	61
310 Sly St	0.71mi	3/1.5	1,359 (-5%)	6mo	$75,000	$55	51
755 Harper St	0.43mi	3/1.0	1,326 (-8%)	24mo	$48,000	$36	47
823 Canal St	0.60mi	2/— (-1)	1,242 (-13%)	8mo	$12,000	$10	38
720 German St	0.39mi	4/2.0 (+1)	1,620 (+13%)	16mo	$50,000	$31	38
957 Oak St	0.63mi	4/1.5 (+1)	1,626 (+13%)	13mo	$54,590	$34	31

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: 30.9%
• Equity multiple: 3.43×
• Total profit: $74,733
• Equity at exit: $99,096

10-year hold

• IRR: 26.7%
• Equity multiple: 7.77×
• Total profit: $208,555
• Equity at exit: $213,704

Cash invested: $30,800 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,317 high
• Mortgage (P&I): −$577
• Tax from tax record: −$130 /mo · $1,563/yr
• Insurance: −$46
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $232

Break-even live

Break-even rent $1,023

Max offer price $109,999

Occupancy floor 77%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	0.50mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	44d	1	0.80mi
357 W Clinton St Unit 1 Elmira, NY	2.0	1.5	1650	$1,500	$0.91	44d	1	0.81mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	0.87mi
160 Boardman St Unit B Elmira, NY	2.0	1.0	1727	$800	$0.46	44d	1	1.01mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	44d	1	1.02mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	1.15mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	44d	1	1.38mi

Listing history 15 events

1. 2026-03-13
   status Pending
2. 2025-12-11
   listed $109,999 Active
3. 2025-06-23
   historical $1,395
4. 2025-05-15
   listed $1,395
5. 2025-05-12
   historical
6. 2025-05-05
   price $114,900
7. 2025-04-10
   price $124,900
8. 2025-02-28
   price $127,500
9. 2025-02-11
   soldstatus $21,000
10. 2025-02-10
    listed $134,900 Active
11. 2024-08-06
    soldstatus $16,100
12. 2006-08-07
    soldstatus $40,000
13. 1992-03-30
    soldstatus $10,738
14. 1991-06-07
    soldstatus $10,000
15. 1990-07-17
    soldstatus $9,000

ⓘ 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: $1,563 · $130/mo
• Projected year-2 tax: $1,711 · $143/mo
• Expected delta: +$148/yr (+$12/mo · 9.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 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: $15,804
• − Mortgage interest: −$6,162
• − Property taxes: −$1,563
• − Insurance: −$1,216
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$3,200
• Taxable income: $1,134
• Est. tax owed @ 24.0%: −$272
• After-tax cash flow: $2,511/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

+1122.2% since first listed

15 events — show timeline

• 2026-03-13 Pending — UNYREIS
• 2025-12-11 Listed $109,999 UNYREIS
• 2025-06-23 Rental Removed $1,395 UNYREIS
• 2025-05-15 Listed for Rent $1,395 UNYREIS
• 2025-05-12 Listing Removed — UNYREIS
• 2025-05-05 Price Changed $114,900 UNYREIS
• 2025-04-10 Price Changed $124,900 UNYREIS
• 2025-02-28 Price Changed $127,500 UNYREIS
• 2025-02-11 Sold (Public Records) $21,000 Public Records
• 2025-02-10 Listed $134,900 UNYREIS
• 2024-08-06 Sold (Public Records) $16,100 Public Records
• 2006-08-07 Sold (Public Records) $40,000 Public Records
• 1992-03-30 Sold (Public Records) $10,738 Public Records
• 1991-06-07 Sold (Public Records) $10,000 Public Records
• 1990-07-17 Sold (Public Records) $9,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,563 · -42.9% YoY. Source: county tax records.