2003 Lake Rd · Elmira Heights, NY 14903

$44,900

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 1 Days on market

Built 1925 5,413 sqft lot ↓ 25% since listing

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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
• Appreciation +6.9/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 3-Bedroom Home with Original Woodwork – Bring Your Vision! A classic home full of character andpotential. This 3-bedroom, 1-bath property features beautiful original woodwork, trim, and doors that showcaseits timeless charm. Spacious rooms, tall ceilings, and natural light offer a warm and inviting feel throughout. While the home is in need of updates and repairs, it provides an excellent opportunity for those looking to restoreand customize a property with great bones. Outside, you’ll find a nice yard with room for gardens or outdoorgatherings. Conveniently located near local schools, shopping, and amenities, this home is ideal for anyoneseeking a rewarding renovation project or an investment opportunity. Bring your ideas and make this charminghome shine again!

Key facts

• 5,413 sq ft lot
• Built 1925

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected; Sewer available; Public water available (not connected)
• Home design: Two-story home; Existing/resale property
• Construction: Vinyl siding; Architectural shingle roof; Poured foundation; Built as existing structure
• Exterior features: Blacktop driveway; Shed and exterior storage

Interior

• Kitchen: Free-standing range; Oven; Refrigerator
• Bedrooms: 7 total rooms (includes living areas and bedrooms)
• Flooring: Carpet; Hardwood; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Separate formal living room; Galley kitchen; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).

Location & tenants

• Location reads 72/100 on livability (#338 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Elmira Heights Central School District (suburban): math 39% / reading 46% proficiency, ranked #496 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($310 loan paydown + $2k appreciation (3.8% 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 (3.8% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,900

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.70% ✓
• Cap rate: 23.63%
• Cash-on-cash: 61.90%
• DSCR: 3.75
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $128,160
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2003 Lake Rd	0.00mi	3/1.0	1,440 (0%)	1mo	$37,000	$26	99
160 Mccauley Ave	0.31mi	3/1.5	1,440 (0%)	2mo	$180,000	$125	82
382 E Warren St	0.65mi	3/1.0	1,468 (+2%)	12mo	$65,000	$44	56
162 Horseheads Blvd	0.39mi	3/1.5	1,362 (-5%)	23mo	$170,000	$125	52
1703 Grand Central Ave	0.42mi	3/1.0	1,300 (-10%)	18mo	$55,200	$42	49
207 Birchwood Ave	0.73mi	4/1.0 (+1)	1,568 (+9%)	3mo	$140,000	$89	44
1560 Pratt St	0.60mi	3/2.0	1,507 (+5%)	20mo	$84,000	$56	43
244 Devonshire Dr	0.60mi	4/1.5 (+1)	1,332 (-8%)	15mo	$132,000	$99	40
210 Horseheads Blvd	0.51mi	3/2.0	1,260 (-12%)	24mo	$163,000	$129	32

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

Projected returns pro-forma

3.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 67.5%
• Equity multiple: 4.87×
• Total profit: $48,661
• Equity at exit: $22,241

10-year hold

• IRR: 66.4%
• Equity multiple: 9.99×
• Total profit: $113,068
• Equity at exit: $35,966

Cash invested: $12,572 (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 14903

• Home prices YoY: 1.6%
• Active inventory: 26
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,214 medium
• Mortgage (P&I): −$235
• Tax est. 1.5%: −$56 /mo · $674/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $649

Break-even live

Break-even rent $393

Max offer price $44,900

Occupancy floor 42%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
258 E 14th St Elmira, NY	2.0	1.0	1100	$1,200	$1.09	43d	1	0.75mi
263 W 13th St Unit Lower Elmira Heights, NY	3.0	1.0	900	$1,241	$1.38	43d	1	1.22mi

Listing history 13 events

1. 2026-05-20
   status Pending 793-char remark

   Show marketing remark (793 chars)

   Charming 3-Bedroom Home with Original Woodwork – Bring Your Vision! A classic home full of character andpotential. This 3-bedroom, 1-bath property features beautiful original woodwork, trim, and doors that showcaseits timeless charm. Spacious rooms, tall ceilings, and natural light offer a warm and inviting feel throughout. While the home is in need of updates and repairs, it provides an excellent opportunity for those looking to restoreand customize a property with great bones. Outside, you’ll find a nice yard with room for gardens or outdoorgatherings. Conveniently located near local schools, shopping, and amenities, this home is ideal for anyoneseeking a rewarding renovation project or an investment opportunity. Bring your ideas and make this charminghome shine again!

2. 2026-05-12
   status Pending
3. 2026-05-12
   listed $44,900 Active
4. 2026-04-30
   historical 793-char remark

   Show marketing remark (793 chars)

   Charming 3-Bedroom Home with Original Woodwork – Bring Your Vision! A classic home full of character andpotential. This 3-bedroom, 1-bath property features beautiful original woodwork, trim, and doors that showcaseits timeless charm. Spacious rooms, tall ceilings, and natural light offer a warm and inviting feel throughout. While the home is in need of updates and repairs, it provides an excellent opportunity for those looking to restoreand customize a property with great bones. Outside, you’ll find a nice yard with room for gardens or outdoorgatherings. Conveniently located near local schools, shopping, and amenities, this home is ideal for anyoneseeking a rewarding renovation project or an investment opportunity. Bring your ideas and make this charminghome shine again!

5. 2026-04-16
   price $44,900 793-char remark

   Show marketing remark (793 chars)

   Charming 3-Bedroom Home with Original Woodwork – Bring Your Vision! A classic home full of character andpotential. This 3-bedroom, 1-bath property features beautiful original woodwork, trim, and doors that showcaseits timeless charm. Spacious rooms, tall ceilings, and natural light offer a warm and inviting feel throughout. While the home is in need of updates and repairs, it provides an excellent opportunity for those looking to restoreand customize a property with great bones. Outside, you’ll find a nice yard with room for gardens or outdoorgatherings. Conveniently located near local schools, shopping, and amenities, this home is ideal for anyoneseeking a rewarding renovation project or an investment opportunity. Bring your ideas and make this charminghome shine again!

6. 2026-03-14
   price $48,900 793-char remark

   Show marketing remark (793 chars)

   Charming 3-Bedroom Home with Original Woodwork – Bring Your Vision! A classic home full of character andpotential. This 3-bedroom, 1-bath property features beautiful original woodwork, trim, and doors that showcaseits timeless charm. Spacious rooms, tall ceilings, and natural light offer a warm and inviting feel throughout. While the home is in need of updates and repairs, it provides an excellent opportunity for those looking to restoreand customize a property with great bones. Outside, you’ll find a nice yard with room for gardens or outdoorgatherings. Conveniently located near local schools, shopping, and amenities, this home is ideal for anyoneseeking a rewarding renovation project or an investment opportunity. Bring your ideas and make this charminghome shine again!

7. 2026-02-12
   price $49,900 793-char remark

   Show marketing remark (793 chars)

   Charming 3-Bedroom Home with Original Woodwork – Bring Your Vision! A classic home full of character andpotential. This 3-bedroom, 1-bath property features beautiful original woodwork, trim, and doors that showcaseits timeless charm. Spacious rooms, tall ceilings, and natural light offer a warm and inviting feel throughout. While the home is in need of updates and repairs, it provides an excellent opportunity for those looking to restoreand customize a property with great bones. Outside, you’ll find a nice yard with room for gardens or outdoorgatherings. Conveniently located near local schools, shopping, and amenities, this home is ideal for anyoneseeking a rewarding renovation project or an investment opportunity. Bring your ideas and make this charminghome shine again!

8. 2026-02-09
   listed $52,900 Active 793-char remark

   Show marketing remark (793 chars)

   Charming 3-Bedroom Home with Original Woodwork – Bring Your Vision! A classic home full of character andpotential. This 3-bedroom, 1-bath property features beautiful original woodwork, trim, and doors that showcaseits timeless charm. Spacious rooms, tall ceilings, and natural light offer a warm and inviting feel throughout. While the home is in need of updates and repairs, it provides an excellent opportunity for those looking to restoreand customize a property with great bones. Outside, you’ll find a nice yard with room for gardens or outdoorgatherings. Conveniently located near local schools, shopping, and amenities, this home is ideal for anyoneseeking a rewarding renovation project or an investment opportunity. Bring your ideas and make this charminghome shine again!

9. 2026-02-02
   historical
10. 2026-01-05
    listed $52,900 Active
11. 2026-01-05
    historical
12. 2025-11-13
    price $55,000
13. 2025-10-07
    listed $59,900 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% 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 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: $14,564
• − Mortgage interest: −$2,515
• − Property taxes: −$674
• − Insurance: −$224
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$1,306
• Taxable income: $7,515
• Est. tax owed @ 24.0%: −$1,804
• After-tax cash flow: $5,979/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 Heights Central School District
• NCES district ID: 3610590
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 46% ▲ 7.00%
• Median HH income: $42,753
• Composite: 35.85/100
• National rank: #4821
• State rank: #496 of 590 in NY

Livability — Elmira Heights

• Score: 72/100
• State rank: #338
• US rank: #5747

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,140

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 (81%)
• Race & ethnicity: White 81% Black 7% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 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: ▲ 3.80%
• Current HPI: 234.7884
• 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

-25.0% since first listed

13 events — show timeline

• 2026-05-20 Pending — UNYREIS
• 2026-05-12 Pending — UNYREIS
• 2026-05-12 Listed $44,900 UNYREIS
• 2026-04-30 Listing Removed — UNYREIS
• 2026-04-16 Price Changed $44,900 UNYREIS
• 2026-03-14 Price Changed $48,900 UNYREIS
• 2026-02-12 Price Changed $49,900 UNYREIS
• 2026-02-09 Listed $52,900 UNYREIS
• 2026-02-02 Listing Removed — UNYREIS
• 2026-01-05 Listing Removed — UNYREIS
• 2026-01-05 Listed $52,900 UNYREIS
• 2025-11-13 Price Changed $55,000 UNYREIS
• 2025-10-07 Listed $59,900 UNYREIS

Property tax history

+4.1%/yr

Latest (2025): $2,697 · +4.9% YoY. Source: county tax records.