223 Mount Zoar St · Elmira, NY 14904

$65,000

4 bd · 2.0 ba · 1,558 sqft · SingleFamily public records · 12 Days on market

Built 1800 5,400 sqft lot Est $104k · 38% under

---

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 +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large single family home previously used as a rental. With some TLC this could be a great income property or primary residence. Square footage is per real-info.

Key facts

• Fully functional
• Brand new furnace
• Added insulation

Tags

• FULLY FUNCTIONAL
• PARTIALLY RENOVATED
• BRAND NEW FURNACE
• ADDED INSULATION
• WALKING DISTANCE TO SCHOOLS
• WALKING DISTANCE TO SHOPPING

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story house; Existing/resale property
• Construction: Wood siding; Poured foundation
• Exterior features: Blacktop driveway; Rectangular lot (approx. 40 x 135)

Interior

• Kitchen: Free-standing range; Oven; Refrigerator
• Bedrooms: Total rooms: 10 (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal living room; Separate/formal dining room; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 14.7% vs local median 10.1% in Elmira — 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 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: 101 active listings in the ZIP; 4 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

• Local home prices are declining (-3.0%/yr); year-one equity from $449 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 21y 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 $30k; list at $65k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1800 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1800 — 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 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?
5. 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?
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: 2.04% ✓
• Cap rate: 14.75%
• Cash-on-cash: 30.20%
• DSCR: 2.34
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $104,386
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Broadway St	0.19mi	4/1.0	1,468 (-6%)	3mo	$78,000	$53	75
507 Partridge St	0.37mi	3/1.5 (-1)	1,592 (+2%)	3mo	$106,500	$67	70
478 Mount Zoar St	0.34mi	4/1.0	1,456 (-6%)	2mo	$35,000	$24	68
421 Jefferson St	0.27mi	3/1.5 (-1)	1,688 (+8%)	5mo	$85,106	$50	62
558 Coburn St	0.43mi	4/1.5	1,716 (+10%)	0mo	$125,020	$73	61
551 Lyon St	0.57mi	3/1.0 (-1)	1,586 (+2%)	3mo	$158,000	$100	59
609 Chester St	0.56mi	3/1.5 (-1)	1,618 (+4%)	7mo	$110,000	$68	55
631 Pennsylvania Ave	0.45mi	4/1.0	1,787 (+15%)	2mo	$67,000	$37	49
704 Maple Ave	0.71mi	3/1.0 (-1)	1,674 (+7%)	1mo	$69,000	$41	45
461 W Hudson St	0.40mi	3/1.5 (-1)	1,331 (-15%)	6mo	$93,906	$71	44
310 Sly St	0.54mi	3/1.5 (-1)	1,359 (-13%)	6mo	$75,000	$55	41
626 Decker Ave	0.66mi	3/2.0 (-1)	1,335 (-14%)	2mo	$142,000	$106	38

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: 24.9%
• Equity multiple: 2.03×
• Total profit: $18,747
• Equity at exit: $9,692

10-year hold

• IRR: 32.7%
• Equity multiple: 3.98×
• Total profit: $54,322
• Equity at exit: $5,620

Cash invested: $18,200 (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: 101
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,326 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$222 /mo · $2,663/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $458

Break-even live

Break-even rent $747

Max offer price $65,000

Occupancy floor 60%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	0.59mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	0.90mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	0.91mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	44d	1	1.02mi

Listing history 10 events

1. 2026-06-19
   days on market $65,000 Active 12 DOM
2. 2026-06-18
   days on market $65,000 Active 11 DOM
3. 2026-06-17
   days on market $65,000 Active 10 DOM
4. 2026-06-16
   days on market $65,000 Active 9 DOM
5. 2026-06-15
   days on market $65,000 Active 8 DOM
6. 2026-06-14
   days on market $65,000 Active 6 DOM
7. 2026-06-12
   days on market $65,000 Active 5 DOM
8. 2026-06-09
   days on market $65,000 Active 2 DOM
9. 2026-06-07
   remarks 496-char remark
10. 2026-06-07
    listed $65,000 Active 1 DOM

ⓘ 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: $2,663 · $222/mo
• Projected year-2 tax: $2,663 · $222/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 5/10 Major FEMA zone X (shaded) · 51% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 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: $15,918
• − Mortgage interest: −$3,641
• − Property taxes: −$2,663
• − Insurance: −$325
• − Repairs & maintenance: −$1,273
• − Management: −$1,273
• − Depreciation: −$1,891
• Taxable income: $4,851
• Est. tax owed @ 24.0%: −$1,164
• After-tax cash flow: $4,332/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

+62.9% since first listed

15 events — show timeline

• 2026-06-06 Listed $65,000 UNYREIS
• 2025-07-31 Listing Removed — UNYREIS
• 2025-05-27 Price Changed $43,000 UNYREIS
• 2025-01-21 Listed $50,000 UNYREIS
• 2011-10-14 Sold (MLS) $30,000 UNYREIS
• 2011-08-09 Listed $32,500 UNYREIS
• 2010-06-23 Sold (Public Records) $9,900 Public Records
• 2008-09-30 Listing Removed — UNYREIS
• 2008-03-24 Listed $19,900 UNYREIS
• 2007-12-31 Listing Removed — UNYREIS
• 2007-03-25 Listed $25,900 UNYREIS
• 2005-12-31 Listing Removed — UNYREIS
• 2005-07-01 Listed $34,900 UNYREIS
• 2005-03-24 Listing Removed — UNYREIS
• 2005-02-01 Listed $39,900 UNYREIS

Property tax history

+6.9%/yr

Latest (2025): $2,663 · -11.7% YoY. Source: county tax records.