1211-13 Richard St · Southport, NY 14904

$82,900

3 bd · 2.5 ba · 1,750 sqft · SingleFamily public records · 25 Days on market

Built 1950 5,000 sqft lot $47/sqft · 42% below area Est $143k · 42% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This nice property features three bedrooms and two- and one-half bathrooms, encompassing a total area of 1,750 square feet. It includes a one-car garage and is situated on three lots on 2 streets. Wheelchair ramp for easy access. Start here to have a great home at a great price.

Key facts

• Three lots
• Two streets
• Wheelchair ramp

Tags

• WHEELCHAIR RAMP
• THREE LOTS
• TWO STREETS

Property features AI

Exterior

• Parking: Detached garage; One garage space
• Utilities: Cable available; Public water (connected); Sewer connected; Electric with circuit breakers
• Home design: Single-story home; Existing (previously built)
• Construction: Vinyl siding; Asphalt shingle roof; Block foundation
• Exterior features: Concrete driveway; Open porch; Shed(s) / storage; Near public transit; Rectangular residential lot; City street frontage; Lot dimensions approximately 100 x 100

Interior

• Kitchen: Eat-in kitchen; Appliances negotiable; Gas water heater
• Bedrooms: Two main-level bedrooms
• Flooring: Hardwood; Carpet; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms; One half bathroom; Two main-level bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Eat-in kitchen; Separate/formal living room; Main-level primary bedroom; Full basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $83k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• Recommended offer: $82k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 6.5% in Southport — 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 65/100 on livability (#690 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D, health & safety D, crime D-.
• 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.
• Zoned schools: Ernie Davis Academy (math 5% / reading 31%, grade F, #691 of 729 statewide, top 95%, 802 students, 66% FRL).
• Market conditions: 104 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $573 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $7k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $83k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,656 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.58% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.52%
• DSCR: 1.82
• GRM: 5.3

CMA / ARV

• ARV (median comp): $143,074
• List price: $82,900
• Delta: -42.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
348 Laurentian Pl	0.37mi	3/1.5	1,616 (-8%)	5mo	$148,950	$92	62
1525 Maple Ave	0.66mi	4/2.0 (+1)	1,792 (+2%)	4mo	$45,000	$25	55
260 Universal Ave	0.46mi	3/2.0	1,584 (-10%)	16mo	$250,000	$158	47
239 Robert St	0.42mi	4/1.0 (+1)	1,512 (-14%)	6mo	$50,000	$33	42
392 Coldbrook Dr	0.63mi	3/2.0	1,613 (-8%)	21mo	$210,000	$130	38
105 S Kinyon St	0.64mi	3/2.0	1,615 (-8%)	23mo	$103,000	$64	36
505 Palomino Mnr	0.71mi	4/2.0 (+1)	1,988 (+14%)	12mo	$220,000	$111	27

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: 10.3%
• Equity multiple: 1.41×
• Total profit: $9,473
• Equity at exit: $12,361

10-year hold

• IRR: 19.5%
• Equity multiple: 2.64×
• Total profit: $37,982
• Equity at exit: $7,168

Cash invested: $23,212 (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 14904

• Home prices YoY: -9.6%
• Active inventory: 104
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,314 medium
• Mortgage (P&I): −$435
• Tax from tax record: −$210 /mo · $2,525/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $358

Break-even live

Break-even rent $860

Max offer price $82,900

Occupancy floor 68%

Sensitivity live

Price	-10% $405	-5% $382	+0% $358	+5% $335	+10% $311
Rent	-10% $255	-5% $306	+0% $358	+5% $410	+10% $462
Rate	-1.0pp $400	-0.5pp $379	base $358	+0.5pp $337	+1.0pp $315

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: $20,725
• Closing costs: $2,487
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1254 Charles St Elmira, NY	2.0	1.0	1560	$1,350	$0.87	45d	1	0.07mi
550 Spruce St Unit 303 Elmira, NY	2.0	2.0	1350	$1,350	$1.00	45d	1	1.44mi
160 Boardman St Unit B Elmira, NY	2.0	1.0	1727	$800	$0.46	45d	1	1.49mi

Listing history 19 events

1. 2026-06-09
   days on market $82,900 Active 25 DOM
2. 2026-06-08
   days on market $82,900 Active 24 DOM
3. 2026-06-07
   days on market $82,900 Active 23 DOM
4. 2026-06-05
   pricedays on market $82,900 Active 20 DOM
5. 2026-06-03
   days on market $89,900 Active 19 DOM
6. 2026-06-02
   days on market $89,900 Active 18 DOM
7. 2026-06-01
   days on market $89,900 Active 17 DOM
8. 2026-05-31
   days on market $89,900 Active 16 DOM
9. 2026-05-30
   days on market $89,900 Active 15 DOM
10. 2026-05-14
    listed $89,900 Active 279-char remark
11. 2026-01-04
    historical
12. 2026-01-03
    historical
13. 2026-01-03
    historical
14. 2025-12-20
    price $60,000
15. 2025-12-03
    listed $65,000 Active
16. 2025-11-21
    historical
17. 2025-11-10
    listed $65,000 Active
18. 1994-05-16
    soldstatus $54,500
19. 1994-05-11
    soldstatus $50,000

ⓘ 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: $2,525 · $210/mo
• Projected year-2 tax: $2,525 · $210/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 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 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: $15,767
• − Mortgage interest: −$4,644
• − Property taxes: −$2,525
• − Insurance: −$414
• − Repairs & maintenance: −$1,261
• − Management: −$1,261
• − Depreciation: −$2,412
• Taxable income: $3,250
• Est. tax owed @ 24.0%: −$780
• After-tax cash flow: $3,520/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 — Southport

• Score: 65/100
• State rank: #690
• US rank: #13026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southport, NY
• City population: 14,276
• Population (ZIP): 14,276

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 7% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Jamaica, Dominican Republic
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -23.33%
• Current HPI: 220.688
• 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

+65.8% since first listed

11 events — show timeline

• 2026-06-04 Price Changed $82,900 CNYIS
• 2026-05-14 Listed $89,900 CNYIS
• 2026-01-04 Listing Removed — CNYIS
• 2026-01-03 Listing Removed — CNYIS
• 2026-01-03 Listing Removed — CNYIS
• 2025-12-20 Price Changed $60,000 CNYIS
• 2025-12-03 Listed $65,000 CNYIS
• 2025-11-21 Listing Removed — CNYIS
• 2025-11-10 Listed $65,000 CNYIS
• 1994-05-16 Sold (Public Records) $54,500 Public Records
• 1994-05-11 Sold (Public Records) $50,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $2,525 · +1.1% YoY. Source: county tax records.