170 Prospect St · Hornell, NY 14843

$85,000

4 bd · 1.0 ba · 2,074 sqft · SingleFamily public records · 16 Days on market

Built 1880 0.26 ac lot Est $151k · 44% under

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Why this score? — see what drove the A- 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
• Appreciation +7.0/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Ready for your to make it your own. Plenty of space indoors and out. Large side yard fenced for the family pets. Large 2 story barn, perfect for storage or a work shop. Nice back porch for sitting outside. Inside on the main floor is a Front living room, family room space with pellet stove, bedroom or office space Spacious Dining & Kitchen area with access to back porch. Upstairs you will find a full bath and four bedrooms.

Key facts

• 0.26 acre lot
• Garage
• Built 1880

Property features AI

Exterior

• Parking: Detached 1-car garage (no driveway)
• Utilities: Public water connected; Sewer connected
• Home design: 2-story home; Resale property; Existing construction
• Construction: Vinyl siding; Asphalt roof; Stone foundation; Built (existing)
• Exterior features: Flag lot; Lot dimensions approximately 140 x 114

Interior

• Kitchen: Gas cooktop; Dishwasher
• Flooring: Laminate flooring; Varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Kitchen island; Full basement
• Laundry & utility: Laundry on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $976 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.1% 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.
• Hornell City School District (town): math 33% / reading 49% proficiency, ranked #519 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 3 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; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% 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 $4k of equity ($588 loan paydown + $3k 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 $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $72k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1880 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.39% ✓
• Cap rate: 20.07%
• Cash-on-cash: 49.22%
• DSCR: 3.19
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $151,402
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Spruce St	0.07mi	4/2.5	1,799 (-13%)	5mo	$170,000	$94	65
16 Adsit Pl	0.46mi	4/1.5	2,060 (-1%)	15mo	$150,000	$73	63
45 Jane St	0.38mi	4/2.5	2,212 (+7%)	7mo	$185,000	$84	59
313 Arlington Pl	0.37mi	3/2.0 (-1)	1,896 (-9%)	4mo	$72,000	$38	57
17 Adsit Pl	0.45mi	4/1.5	2,320 (+12%)	6mo	$85,000	$37	52
384 Canisteo St	0.52mi	4/2.0	1,962 (-5%)	13mo	$172,000	$88	52
48 Church St	0.60mi	4/1.5	1,978 (-5%)	16mo	$75,657	$38	49
45 Oak St	0.50mi	5/1.5 (+1)	1,886 (-9%)	11mo	$95,000	$50	45
33 E Vanscoter St	0.70mi	3/2.0 (-1)	2,002 (-4%)	10mo	$73,000	$36	44
56 Sawyer St	0.67mi	3/2.0 (-1)	1,960 (-6%)	11mo	$149,900	$76	42
67 Oak St	0.47mi	3/1.5 (-1)	1,822 (-12%)	12mo	$50,000	$27	41
67 N Main St	0.69mi	3/2.0 (-1)	1,770 (-15%)	3mo	$157,000	$89	32

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: 55.6%
• Equity multiple: 4.23×
• Total profit: $76,810
• Equity at exit: $42,837

10-year hold

• IRR: 54.3%
• Equity multiple: 8.62×
• Total profit: $181,240
• Equity at exit: $69,858

Cash invested: $23,800 (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: 3.5×

Monthly cashflow live

• Estimated rent: $2,032 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$148 /mo · $1,777/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $976

Break-even live

Break-even rent $797

Max offer price $85,000

Occupancy floor 47%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
58 Elm St Hornell, NY	4.0	2.0	1600	$2,495	$1.56	44d	1	0.41mi
15 Hakes Ave Unit 102 Hornell, NY	4.0	2.0	2000	$2,195	$1.10	44d	1	0.49mi
14 Willow Pl Hornell, NY	4.0	2.0	1726	$2,000	$1.16	44d	1	0.61mi

Listing history 15 events

1. 2026-06-08
   status $85,000 Pending 16 DOM
2. 2026-06-07
   days on market $85,000 Active 16 DOM
3. 2026-06-07
   days on market $85,000 Active 15 DOM
4. 2026-06-03
   days on market $85,000 Active 12 DOM
5. 2026-06-02
   days on market $85,000 Active 11 DOM
6. 2026-06-01
   days on market $85,000 Active 10 DOM
7. 2026-05-31
   days on market $85,000 Active 9 DOM
8. 2026-05-30
   days on market $85,000 Active 8 DOM
9. 2026-05-22
   listed $85,000 Active
10. 2022-06-03
    soldstatus $72,000
11. 2022-05-31
    soldstatus $72,000 Closed Sale or Rented 434-char remark

    Show marketing remark (434 chars)

    Ready for your to make it your own. Plenty of space indoors and out. Large side yard fenced for the family pets. Large 2 story barn, perfect for storage or a work shop. Nice back porch for sitting outside. Inside on the main floor is a Front living room, family room space with pellet stove, bedroom or office space Spacious Dining & Kitchen area with access to back porch. Upstairs you will find a full bath and four bedrooms.

12. 2022-05-19
    status Pending Sale 434-char remark

    Show marketing remark (434 chars)

    Ready for your to make it your own. Plenty of space indoors and out. Large side yard fenced for the family pets. Large 2 story barn, perfect for storage or a work shop. Nice back porch for sitting outside. Inside on the main floor is a Front living room, family room space with pellet stove, bedroom or office space Spacious Dining & Kitchen area with access to back porch. Upstairs you will find a full bath and four bedrooms.

13. 2022-04-14
    historical Continue to Show- Under Contract 434-char remark

    Show marketing remark (434 chars)

    Ready for your to make it your own. Plenty of space indoors and out. Large side yard fenced for the family pets. Large 2 story barn, perfect for storage or a work shop. Nice back porch for sitting outside. Inside on the main floor is a Front living room, family room space with pellet stove, bedroom or office space Spacious Dining & Kitchen area with access to back porch. Upstairs you will find a full bath and four bedrooms.

14. 2022-01-24
    listed $77,900 Active 434-char remark

    Show marketing remark (434 chars)

    Ready for your to make it your own. Plenty of space indoors and out. Large side yard fenced for the family pets. Large 2 story barn, perfect for storage or a work shop. Nice back porch for sitting outside. Inside on the main floor is a Front living room, family room space with pellet stove, bedroom or office space Spacious Dining & Kitchen area with access to back porch. Upstairs you will find a full bath and four bedrooms.

15. 2003-10-20
    soldstatus $57,000

ⓘ 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: $1,777 · $148/mo
• Projected year-2 tax: $1,777 · $148/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,387
• − Mortgage interest: −$4,761
• − Property taxes: −$1,777
• − Insurance: −$425
• − Repairs & maintenance: −$1,951
• − Management: −$1,951
• − Depreciation: −$2,473
• Taxable income: $11,048
• Est. tax owed @ 24.0%: −$2,652
• After-tax cash flow: $9,063/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: Hornell City School District
• NCES district ID: 3614820
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $40,251
• Composite: 34.33/100
• National rank: #5234
• State rank: #519 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

• Census place: Hornell, NY
• 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

+49.1% since first listed

7 events — show timeline

• 2026-05-22 Listed $85,000 UNYREIS
• 2022-06-03 Sold (Public Records) $72,000 Public Records
• 2022-05-31 Sold (MLS) $72,000 UNYREIS
• 2022-05-19 Pending — UNYREIS
• 2022-04-14 Contingent — UNYREIS
• 2022-01-24 Listed $77,900 UNYREIS
• 2003-10-20 Sold (Public Records) $57,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,777 · -0.5% YoY. Source: county tax records.