1190 County Rt. 66 Balsam #14 · Hornell, NY 14843

$29,900

3 bd · 1.0 ba · 1,110 sqft · SingleFamily · 71 Days on market

Built 1984 Poor condition

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Welcome to this 3-bedroom home located in the Woodlands 55+ resident-owned co-op community. Enjoy the peace of mind that comes with co-op living—park approval is required, and there is a refundable one-time $100 admittance fee for new owners. Step inside through the enclosed patio. From there, you’ll enter a spacious kitchen featuring a large bay window. The stove and dishwasher were replaced in 2017, offering modern convenience. The kitchen flows into the comfortable living room, creating an easy, open layout. A standout feature of this home is the 15' x 13' primary bedroom addition, complete with a generous closet. This addition received a new tear-off roof in 2022 and new carpet in 2025.Two additional bedrooms provide flexibility for guests, hobbies, or office space. The bathroom/laundry room was fully renovated in 2019, and the washer and dryer (approx. 4–5 years old) are included. Some major mechanicals have been updated as well: furnace replaced in 2020 and central air installed in 2022.Outside, you’ll find a 4–5-year-old shed, a carport for one vehicle, and additional driveway parking. Property being sold AS IS The community allows up to two dogs under 25 lbs, making it a pet-friendly environment. The affordable $335 monthly lot fee includes road plowing and garbage service.

Key facts

• New tear-off roof
• New carpet
• Spacious kitchen

Tags

• ENCLOSED PATIO
• SPACIOUS KITCHEN
• LARGE BAY WINDOW
• PRIMARY BEDROOM ADDITION
• NEW TEAR-OFF ROOF
• NEW CARPET

🏢 Co-op / cooperative unit. The $29,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $943 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.
• Cap rate 44.1% vs local median 13.3% in Hornell — 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 70/100 on livability (#451 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, schools D, crime F.
• Arkport Central School District (town): math 59% / reading 65% proficiency, ranked #223 of 590 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($207 loan paydown + $1k appreciation (4.0% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $4k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $30k implies a 121% gain — meaningful room to come down on a strong offer.

Recommended offer $28,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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: 4.87% ✓
• Cap rate: 44.13%
• Cash-on-cash: 135.15%
• DSCR: 7.01
• GRM: 1.7

CMA / ARV

• ARV (median comp): $185,458
• List price: $29,900
• Delta: -83.88%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1262 Maple Ct	0.27mi	3/1.0	1,056 (-5%)	9mo	$145,000	$137	72

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.79×
• Total profit: $65,203
• Equity at exit: $15,069

10-year hold

• IRR: —
• Equity multiple: 18.46×
• Total profit: $146,177
• Equity at exit: $24,573

Cash invested: $8,372 (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 14843

• Home prices YoY: 1.9%
• Active inventory: 59
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,455 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $943

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 30%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7459 Seneca Rd N Hornell, NY	4.0	1.5	1200	$1,395	$1.16	43d	1	0.34mi

Listing history 14 events

1. 2026-06-09
   days on market $29,900 Active 71 DOM
2. 2026-06-08
   days on market $29,900 Active 70 DOM
3. 2026-06-07
   days on market $29,900 Active 69 DOM
4. 2026-06-05
   days on market $29,900 Active 66 DOM
5. 2026-06-03
   days on market $29,900 Active 65 DOM
6. 2026-06-02
   days on market $29,900 Active 64 DOM
7. 2026-06-01
   days on market $29,900 Active 63 DOM
8. 2026-05-31
   days on market $29,900 Active 62 DOM
9. 2026-05-30
   days on market $29,900 Active 61 DOM
10. 2026-05-06
    price $29,900 1334-char remark

    Show marketing remark (1334 chars)

    Welcome to this 3-bedroom home located in the Woodlands 55+ resident-owned co-op community. Enjoy the peace of mind that comes with co-op living—park approval is required, and there is a refundable one-time $100 admittance fee for new owners. Step inside through the enclosed patio. From there, you’ll enter a spacious kitchen featuring a large bay window. The stove and dishwasher were replaced in 2017, offering modern convenience. The kitchen flows into the comfortable living room, creating an easy, open layout. A standout feature of this home is the 15' x 13' primary bedroom addition, complete with a generous closet. This addition received a new tear-off roof in 2022 and new carpet in 2025.Two additional bedrooms provide flexibility for guests, hobbies, or office space. The bathroom/laundry room was fully renovated in 2019, and the washer and dryer (approx. 4–5 years old) are included. Some major mechanicals have been updated as well: furnace replaced in 2020 and central air installed in 2022.Outside, you’ll find a 4–5-year-old shed, a carport for one vehicle, and additional driveway parking. Property being sold AS IS The community allows up to two dogs under 25 lbs, making it a pet-friendly environment. The affordable $335 monthly lot fee includes road plowing and garbage service.

11. 2026-04-20
    price $31,900 1334-char remark

    Show marketing remark (1334 chars)

    Welcome to this 3-bedroom home located in the Woodlands 55+ resident-owned co-op community. Enjoy the peace of mind that comes with co-op living—park approval is required, and there is a refundable one-time $100 admittance fee for new owners. Step inside through the enclosed patio. From there, you’ll enter a spacious kitchen featuring a large bay window. The stove and dishwasher were replaced in 2017, offering modern convenience. The kitchen flows into the comfortable living room, creating an easy, open layout. A standout feature of this home is the 15' x 13' primary bedroom addition, complete with a generous closet. This addition received a new tear-off roof in 2022 and new carpet in 2025.Two additional bedrooms provide flexibility for guests, hobbies, or office space. The bathroom/laundry room was fully renovated in 2019, and the washer and dryer (approx. 4–5 years old) are included. Some major mechanicals have been updated as well: furnace replaced in 2020 and central air installed in 2022.Outside, you’ll find a 4–5-year-old shed, a carport for one vehicle, and additional driveway parking. Property being sold AS IS The community allows up to two dogs under 25 lbs, making it a pet-friendly environment. The affordable $335 monthly lot fee includes road plowing and garbage service.

12. 2026-03-30
    listed $34,000 Active 1334-char remark

    Show marketing remark (1334 chars)

    Welcome to this 3-bedroom home located in the Woodlands 55+ resident-owned co-op community. Enjoy the peace of mind that comes with co-op living—park approval is required, and there is a refundable one-time $100 admittance fee for new owners. Step inside through the enclosed patio. From there, you’ll enter a spacious kitchen featuring a large bay window. The stove and dishwasher were replaced in 2017, offering modern convenience. The kitchen flows into the comfortable living room, creating an easy, open layout. A standout feature of this home is the 15' x 13' primary bedroom addition, complete with a generous closet. This addition received a new tear-off roof in 2022 and new carpet in 2025.Two additional bedrooms provide flexibility for guests, hobbies, or office space. The bathroom/laundry room was fully renovated in 2019, and the washer and dryer (approx. 4–5 years old) are included. Some major mechanicals have been updated as well: furnace replaced in 2020 and central air installed in 2022.Outside, you’ll find a 4–5-year-old shed, a carport for one vehicle, and additional driveway parking. Property being sold AS IS The community allows up to two dogs under 25 lbs, making it a pet-friendly environment. The affordable $335 monthly lot fee includes road plowing and garbage service.

13. 2016-09-28
    soldstatus $13,500 205-char remark

    Show marketing remark (205 chars)

    This is a l984 Windsor single wide mobile home in park. Model#ZWI 70141-7588 Originally built as a 2 bdrm, there has been an addition added that includes a very large master bedroom and an enclosed porch.

14. 2016-07-05
    listed $14,900 205-char remark

    Show marketing remark (205 chars)

    This is a l984 Windsor single wide mobile home in park. Model#ZWI 70141-7588 Originally built as a 2 bdrm, there has been an addition added that includes a very large master bedroom and an enclosed porch.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,461
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − Depreciation: −$870
• Taxable income: $11,524
• Est. tax owed @ 24.0%: −$2,766
• After-tax cash flow: $8,549/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This mobile home requires extensive repairs and updates to bring it up to a livable condition. Significant investments in appliances, roof, exterior, windows, and landscaping are necessary to increase its resale and rental value.

Repairs flagged

• Major Appliances — Old and worn
• Major Roof — Signs of wear and tear
• Major Exterior siding — Weathered and damaged
• Major Windows — Visible damage
• Major Landscaping — Overgrown and unkempt

Value-add opportunities

• Resale New appliances — Modern appliances enhance appeal
• Resale New roof — A new roof improves the home's appearance and value
• Resale New exterior siding — Fresh siding enhances curb appeal
• Resale New windows — New windows improve energy efficiency and appearance
• Both Landscaping — A well-maintained lawn and landscaping boost curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Old and worn	Major	$15,000–50,000
Roof · Signs of wear and tear	Major	$15,000–50,000
Exterior siding · Weathered and damaged	Major	$15,000–50,000
Windows · Visible damage	Major	$15,000–50,000
Landscaping · Overgrown and unkempt	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale New appliances — Modern appliances enhance appeal ↑
• Resale New roof — A new roof improves the home's appearance and value ↑
• Resale New exterior siding — Fresh siding enhances curb appeal ↑
• Resale New windows — New windows improve energy efficiency and appearance ↑
• Both Landscaping — A well-maintained lawn and landscaping boost curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Arkport Central School District
• NCES district ID: 3603240
• Math proficiency: 59% ▲ 4.00%
• Reading proficiency: 65% ▲ 15.00%
• Median HH income: $44,995
• Composite: 52.24/100
• National rank: #1601
• State rank: #223 of 590 in NY

Livability — Hornell

• Score: 70/100
• State rank: #451
• US rank: #7888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Steuben County · 41,193 people
• City population: 12,383
• Metro: Corning, NY
• Population (ZIP): 12,383
• Household income: $57,874
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 415.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Arabic 1% Spanish 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: ▲ 3.95%
• Current HPI: 210.1986
• 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

+100.7% since first listed

5 events — show timeline

• 2026-05-06 Price Changed $29,900 UNYREIS
• 2026-04-20 Price Changed $31,900 UNYREIS
• 2026-03-30 Listed $34,000 UNYREIS
• 2016-09-28 Sold (MLS) $13,500 UNYREIS
• 2016-07-05 Listed $14,900 UNYREIS