319 E Second St · Corning, NY 14830

$200,000

4 bd · 2.0 ba · 1,798 sqft · SingleFamily public records · 6 Days on market

Built 1910 4,290 sqft lot Est $149k · 34% over

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Why this score? — see what drove the D+ 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 +20.9/30.0
• DSCR +6.6/10.0
• 1% rule +6.2/10.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

2 story home in the city of Corning conveniently located just a few minutes drive from Market St, the Corning Glass Museum, and the Rockwell Museum. This 4 bedroom 2 bathroom home has hardwood floors, tile in the kitchen and bathrooms, a covered porch, and a 200amp electrical service panel.

Key facts

• Covered porch
• Tile in the kitchen
• Hardwood floors

Tags

• HARDWOOD FLOORS
• TILE IN THE KITCHEN
• COVERED PORCH

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water connected; Sewer connected
• Home design: Two-story wood-sided house; Existing/resale property
• Construction: Wood siding; Stone foundation
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 165 x 26

Interior

• Kitchen: Dishwasher; Oven; Free-standing range; Refrigerator; Gas water heater
• Bedrooms: Total rooms: 8
• Flooring: Ceramic tile; Hardwood; Varied flooring
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Separate/formal living room; Pull-down attic stairs; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).

Location & tenants

• Location reads 87/100 on livability (#14 in NY, #334 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: employment D.
• Corning City School District (town): math 44% / reading 53% proficiency, ranked #406 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: William E Severn Elementary School (math 37% / reading 42%, grade F, #1,444 of 2,108 statewide, top 71%, 373 students, 55% FRL); Corning-Painted Post Middle School (math 22% / reading 48%, grade F, #480 of 729 statewide, top 66%, 962 students, 46% FRL); Corning-Painted Post High School (math 93% / reading 98%, grade A+, #82 of 1,100 statewide, top 7%, 1,463 students, 36% FRL).
• Market conditions: 111 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 22y 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 $114k; list at $200k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,000

Questions for the listing agent

1. Built in 1910 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.12% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $149,234
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
385 Watauga Avenue Ext	0.20mi	4/1.5	1,798 (0%)	10mo	$115,000	$64	80
315 E 2nd St	0.01mi	4/2.0	1,932 (+8%)	11mo	$86,000	$45	78
240 Park Ave	0.26mi	4/2.0	1,800 (+0%)	19mo	$50,000	$28	72
107 E Second St	0.45mi	3/2.0 (-1)	1,769 (-2%)	8mo	$132,000	$75	65
175 E 3rd St	0.32mi	4/2.0	1,991 (+11%)	6mo	$199,000	$100	62
183 Columbia St	0.17mi	3/2.0 (-1)	1,586 (-12%)	12mo	$132,000	$83	58
330 E Third St	0.11mi	3/1.5 (-1)	1,559 (-13%)	15mo	$114,000	$73	53
112 E Third St	0.45mi	4/2.0	1,933 (+8%)	16mo	$198,000	$102	53
213 Wall St	0.51mi	3/2.0 (-1)	1,932 (+8%)	12mo	$260,000	$135	49
248 Chemung St	0.44mi	3/1.5 (-1)	1,705 (-5%)	20mo	$216,000	$127	48
232 E Second St	0.19mi	3/1.5 (-1)	1,537 (-14%)	20mo	$55,000	$36	43
65 Glen Ave	0.67mi	3/1.0 (-1)	1,584 (-12%)	12mo	$162,900	$103	30

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-14,671
• Equity at exit: $29,821

10-year hold

• IRR: 2.6%
• Equity multiple: 1.18×
• Total profit: $10,353
• Equity at exit: $17,292

Cash invested: $56,000 (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 14830

• Active inventory: 111
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,244 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$364 /mo · $4,364/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $277

Break-even live

Break-even rent $1,893

Max offer price $200,000

Occupancy floor 83%

Sensitivity live

Price	-10% $390	-5% $333	+0% $277	+5% $220	+10% $164
Rent	-10% $100	-5% $188	+0% $277	+5% $366	+10% $454
Rate	-1.0pp $378	-0.5pp $328	base $277	+0.5pp $225	+1.0pp $172

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	46d	1	0.34mi

Listing history 18 events

1. 2026-06-05
   days on market $200,000 Active 6 DOM
2. 2026-06-03
   days on market $200,000 Active 5 DOM
3. 2026-06-02
   days on market $200,000 Active 4 DOM
4. 2026-06-01
   days on market $200,000 Active 3 DOM
5. 2026-05-31
   days on market $200,000 Active 2 DOM
6. 2026-05-29
   listed $200,000 Active
7. 2017-09-29
   historical
8. 2017-03-29
   listed $139,000
9. 2016-11-15
   historical
10. 2016-04-05
    listed $149,000
11. 2010-11-16
    soldstatus $114,000
12. 2010-11-09
    soldstatus $114,000
13. 2010-06-16
    listed $124,000
14. 2007-07-26
    historical
15. 2007-07-17
    listed $107,000
16. 2004-10-12
    soldstatus $85,000
17. 2004-10-05
    soldstatus $85,000
18. 2004-08-09
    listed $89,900

ⓘ 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: $4,364 · $364/mo
• Projected year-2 tax: $4,364 · $364/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 · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 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: $26,927
• − Mortgage interest: −$11,203
• − Property taxes: −$4,364
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,154
• − Management: −$2,154
• − Depreciation: −$5,818
• Taxable income: $233
• Est. tax owed @ 24.0%: −$56
• After-tax cash flow: $3,266/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: Corning City School District
• NCES district ID: 3608400
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 53% ▲ 4.00%
• Median HH income: $53,042
• Composite: 41.8/100
• National rank: #3392
• State rank: #406 of 590 in NY

Livability — Corning

• Score: 87/100
• State rank: #14
• US rank: #334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corning, NY
• County: Steuben County · 41,193 people
• City population: 19,015
• Metro: Corning, NY
• Population (ZIP): 19,015
• Household income: $73,263
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 565.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Spanish 1% Other Asian/Pacific 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: ▼ -94.59%
• Current HPI: 173.9857
• 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

+122.5% since first listed

13 events — show timeline

• 2026-05-29 Listed $200,000 UNYREIS
• 2017-09-29 Listing Removed — UNYREIS
• 2017-03-29 Listed $139,000 UNYREIS
• 2016-11-15 Listing Removed — UNYREIS
• 2016-04-05 Listed $149,000 UNYREIS
• 2010-11-16 Sold (Public Records) $114,000 Public Records
• 2010-11-09 Sold (MLS) $114,000 UNYREIS
• 2010-06-16 Listed $124,000 UNYREIS
• 2007-07-26 Listing Removed — UNYREIS
• 2007-07-17 Listed $107,000 UNYREIS
• 2004-10-12 Sold (Public Records) $85,000 Public Records
• 2004-10-05 Sold (MLS) $85,000 UNYREIS
• 2004-08-09 Listed $89,900 UNYREIS

Property tax history

+2.8%/yr

Latest (2025): $4,364 · -1.9% YoY. Source: county tax records.