306 Fulton St · Elmira, NY 14904

$184,000

6 bd · 2.0 ba · 2,270 sqft · MultiFamily public records · 58 Days on market

Built 1880 4,000 sqft lot $81/sqft · 81% above 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
• 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
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Investors and house-hackers, look no further! This stunning, fully renovated duplex at 306 Fulton St offers a rare, completely turnkey opportunity in Elmira. No detail was overlooked in this top-to-bottom transformation, featuring brand-new flooring, fresh paint, and modern finishes throughout both units. This spacious 2,270 sq. ft. property offers a flexible 6-bedroom, 2-bathroom layout, making it ideal for high-yield rental income or owner-occupancy. Situated on a quiet street in Southwest Elmira, you’ll enjoy low-maintenance living with municipal water and sewer connections. Everything has been changed—just bring your tenants and start collecting rent on day one!

Key facts

• Brand-new flooring
• Fresh paint
• Flexible layout

Tags

• FULLY RENOVATED DUPLEX
• TURNKEY OPPORTUNITY
• BRAND-NEW FLOORING
• FRESH PAINT
• MODERN FINISHES
• FLEXIBLE LAYOUT

Property features AI

Finance

• Financial info: Tenant(s) pay all utilities; Operating expenses include water and sewer; Multifamily with separate gas and electric meters (2 each); Total of 2 dwelling units

Exterior

• Parking: On-street parking
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story multifamily property (2 units); Resale property
• Construction: Vinyl siding; Architectural shingle roof; Stone foundation; Existing (previously built) structure
• Exterior features: Rectangular residential lot; City street and main thoroughfare frontage; Lot dimensions approximately 40 x 100

Interior

• Kitchen: Each unit includes an oven/range and refrigerator; Dining area open to living room in each unit
• Bedrooms: Two 3-bedroom units
• Flooring: Vinyl flooring in places; Varied flooring throughout
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Pull-down attic stairs; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $184k.

Deal economics

• At list price, monthly cash flow is $943 ($11k/yr) — positive. Per door: $471/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $184k).
• Recommended offer: $178k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 10.1% in 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 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: crime F, 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.
• 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; 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 $1k of loan paydown is wiped out by about $6k 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 $52k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago 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 $24k; list at $184k implies a 663% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,480 (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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.57% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.96%
• DSCR: 1.98
• GRM: 5.3

CMA / ARV

• ARV (median comp): $101,847
• List price: $184,000
• Delta: 80.66%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 South Ave	0.49mi	5/2.0 (-1)	2,168 (-4%)	12mo	$100,000	$46	55
401 Franklin St	0.37mi	5/2.0 (-1)	2,505 (+10%)	17mo	$70,000	$28	46
260 Caldwell Ave	0.54mi	5/2.0 (-1)	2,079 (-8%)	13mo	$30,000	$14	45
360 Franklin St	0.35mi	6/2.0	2,596 (+14%)	18mo	$18,500	$7	45
700 Delaware Ave	0.60mi	5/2.0 (-1)	2,446 (+8%)	15mo	$85,000	$35	42
360 Davis St	0.66mi	5/3.0 (-1)	2,363 (+4%)	16mo	$68,000	$29	41
509 W 1st St	0.67mi	5/2.0 (-1)	2,014 (-11%)	5mo	$50,000	$25	40
719 S Main St	0.71mi	5/2.0 (-1)	2,217 (-2%)	22mo	$110,000	$50	40
501 Spaulding St	0.62mi	6/2.0	2,569 (+13%)	17mo	$19,000	$7	35
413 Baty St	0.61mi	5/2.0 (-1)	1,978 (-13%)	13mo	$63,000	$32	34
356 W Second St	0.68mi	5/3.0 (-1)	2,560 (+13%)	8mo	$120,000	$47	31

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: 14.7%
• Equity multiple: 1.59×
• Total profit: $30,314
• Equity at exit: $27,435

10-year hold

• IRR: 23.4%
• Equity multiple: 3.02×
• Total profit: $104,068
• Equity at exit: $15,909

Cash invested: $51,520 (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: 10.6×

Monthly cashflow live

• Estimated rent: $2,894 high
• Mortgage (P&I): −$965
• Tax from tax record: −$302 /mo · $3,624/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $943

Break-even live

Break-even rent $1,701

Max offer price $184,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,047	-5% $995	+0% $943	+5% $891	+10% $839
Rent	-10% $714	-5% $828	+0% $943	+5% $1,057	+10% $1,171
Rate	-1.0pp $1,035	-0.5pp $990	base $943	+0.5pp $895	+1.0pp $847

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,894
Total (2 units)			$2,894

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: $46,000
• Closing costs: $5,520
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $184,000 Active 58 DOM
2. 2026-06-19
   days on market $184,000 Active 56 DOM
3. 2026-06-18
   days on market $184,000 Active 55 DOM
4. 2026-06-17
   days on market $184,000 Active 54 DOM
5. 2026-06-16
   days on market $184,000 Active 53 DOM
6. 2026-06-15
   days on market $184,000 Active 52 DOM
7. 2026-06-14
   days on market $184,000 Active 50 DOM
8. 2026-06-12
   days on market $184,000 Active 49 DOM
9. 2026-06-09
   days on market $184,000 Active 46 DOM
10. 2026-06-08
    days on market $184,000 Active 45 DOM
11. 2026-06-07
    days on market $184,000 Active 44 DOM
12. 2026-06-05
    days on market $184,000 Active 41 DOM
13. 2026-06-03
    days on market $184,000 Active 40 DOM
14. 2026-06-02
    days on market $184,000 Active 39 DOM
15. 2026-06-01
    days on market $184,000 Active 38 DOM
16. 2026-05-31
    days on market $184,000 Active 37 DOM
17. 2026-05-30
    days on market $184,000 Active 36 DOM
18. 2026-05-19
    price $184,000 686-char remark
19. 2026-04-24
    listed $189,000 Active 686-char remark
20. 2025-05-12
    historical
21. 2025-05-12
    historical
22. 2025-04-11
    price $39,900
23. 2025-02-28
    price $41,000
24. 2024-12-30
    listed $45,000 Active
25. 2024-12-23
    historical
26. 2024-09-19
    listed $56,000 Active
27. 2024-08-02
    soldstatus $24,100

ⓘ 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: $3,624 · $302/mo
• Projected year-2 tax: $3,624 · $302/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 (shaded) · 49% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°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: $34,728
• − Mortgage interest: −$10,307
• − Property taxes: −$3,624
• − Insurance: −$920
• − Repairs & maintenance: −$2,778
• − Management: −$2,778
• − Depreciation: −$5,353
• Taxable income: $8,968
• Est. tax owed @ 24.0%: −$2,152
• After-tax cash flow: $9,160/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): 14,276

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

+663.5% since first listed

10 events — show timeline

• 2026-05-19 Price Changed $184,000 UNYREIS
• 2026-04-24 Listed $189,000 UNYREIS
• 2025-05-12 Listing Removed — UNYREIS
• 2025-05-12 Listing Removed — UNYREIS
• 2025-04-11 Price Changed $39,900 UNYREIS
• 2025-02-28 Price Changed $41,000 UNYREIS
• 2024-12-30 Listed $45,000 UNYREIS
• 2024-12-23 Listing Removed — WNYREIS
• 2024-09-19 Listed $56,000 WNYREIS
• 2024-08-02 Sold (Public Records) $24,100 Public Records

Property tax history

+19.2%/yr

Latest (2025): $3,624 · -19.9% YoY. Source: county tax records.