107 E Main St · Hornell, NY 14843

$29,900

3 bd · 1.5 ba · 1,414 sqft · SingleFamily public records · 65 Days on market

Built 1890 1,271 sqft lot $21/sqft · 72% below area ↓ 30% since listing

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

This 3 bedroom, 1.5 bath home in the heart of Hornell offers endless potential for the right buyer. Perfect for those looking to create their dream space or invest in a property with great value, this home boasts off-street parking, a spacious layout, and a convenient location close to shops, parks and local amenities. The home features a traditional layout with three bedrooms, a full bathroom upstairs, and a half bath on the main floor. Bring your vision and creativity to this property and turn it into the perfect home or investment opportunity. Being sold as-is, this home is ready for its next chapter!

Key facts

• Convenient location
• Off-street parking
• Spacious layout

Tags

• OFF-STREET PARKING
• SPACIOUS LAYOUT
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.
• Cap rate 53.7% vs local median 12.6% 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-, crime F, commute 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.
• Zoned schools: North Hornell School (309 students, 44% FRL); Hornell Intermediate School (math 20% / reading 43%, grade F, #1,679 of 2,108 statewide, top 80%, 477 students, 64% FRL); Hornell Junior-Senior High School (math 45% / reading 58%, grade D+, #967 of 1,100 statewide, top 88%, 625 students, 53% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 61 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 38% 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 $1k of equity ($207 loan paydown + $1k 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $28,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 6.05% ✓
• Cap rate: 53.74%
• Cash-on-cash: 169.46%
• DSCR: 8.54
• GRM: 1.4

CMA / ARV

• ARV (median comp): $104,926
• List price: $29,900
• Delta: -71.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
153 Sutherby Ave	0.19mi	3/1.5	1,412 (-0%)	2mo	$149,000	$106	90
98 Catherine St	0.07mi	3/1.0	1,371 (-3%)	5mo	$20,000	$15	86
146 Terry St	0.19mi	3/1.0	1,394 (-1%)	9mo	$50,000	$36	79
9 Marshall Ave	0.22mi	3/1.5	1,524 (+8%)	5mo	$118,000	$77	73
175 S Leach Ave	0.13mi	3/1.5	1,248 (-12%)	4mo	$22,501	$18	71
46 Glen Ave	0.33mi	2/1.0 (-1)	1,352 (-4%)	4mo	$40,000	$30	67
85 Front St	0.34mi	3/2.0	1,568 (+11%)	2mo	$160,000	$102	62
22 Cottage Ave	0.55mi	3/1.5	1,340 (-5%)	6mo	$40,000	$30	61
176 Greeley Ave	0.29mi	3/1.0	1,204 (-15%)	1mo	$115,000	$96	59
12 Elmwood Pl	0.54mi	2/1.0 (-1)	1,296 (-8%)	3mo	$18,500	$14	51
19 Oconnor Ave	0.61mi	3/1.5	1,216 (-14%)	8mo	$65,000	$53	41
34 School St	0.74mi	3/1.5	1,256 (-11%)	7mo	$125,000	$100	41

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: —
• Equity multiple: 10.61×
• Total profit: $80,481
• Equity at exit: $15,069

10-year hold

• IRR: —
• Equity multiple: 22.41×
• Total profit: $179,239
• Equity at exit: $24,573

Cash invested: $8,372 (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: 61
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,810 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$78 /mo · $940/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $1,182

Break-even live

Break-even rent $313

Max offer price $29,900

Occupancy floor 30%

Sensitivity live

Price	-10% $1,199	-5% $1,191	+0% $1,182	+5% $1,174	+10% $1,165
Rent	-10% $1,039	-5% $1,111	+0% $1,182	+5% $1,254	+10% $1,325
Rate	-1.0pp $1,197	-0.5pp $1,190	base $1,182	+0.5pp $1,175	+1.0pp $1,167

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: $7,475
• Closing costs: $897
• 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	45d	1	0.54mi
54 Bemis Ave Hornell, NY	2.0	1.0	1801	$1,300	$0.72	45d	1	0.80mi
14 Willow Pl Hornell, NY	4.0	2.0	1726	$2,000	$1.16	45d	1	1.00mi

Listing history 25 events

1. 2026-06-21
   days on market $29,900 Active 65 DOM
2. 2026-06-19
   days on market $29,900 Active 63 DOM
3. 2026-06-18
   days on market $29,900 Active 62 DOM
4. 2026-06-17
   days on market $29,900 Active 61 DOM
5. 2026-06-16
   days on market $29,900 Active 60 DOM
6. 2026-06-15
   days on market $29,900 Active 59 DOM
7. 2026-06-14
   days on market $29,900 Active 57 DOM
8. 2026-06-12
   days on market $29,900 Active 56 DOM
9. 2026-06-09
   days on market $29,900 Active 53 DOM
10. 2026-06-08
    days on market $29,900 Active 52 DOM
11. 2026-06-07
    days on market $29,900 Active 51 DOM
12. 2026-06-07
    days on market $29,900 Active 50 DOM
13. 2026-06-03
    days on market $29,900 Active 47 DOM
14. 2026-06-02
    days on market $29,900 Active 46 DOM
15. 2026-06-01
    days on market $29,900 Active 45 DOM
16. 2026-05-31
    days on market $29,900 Active 44 DOM
17. 2026-05-30
    days on market $29,900 Active 43 DOM
18. 2026-04-17
    listed $29,900 Active 611-char remark

    Show marketing remark (611 chars)

    This 3 bedroom, 1.5 bath home in the heart of Hornell offers endless potential for the right buyer. Perfect for those looking to create their dream space or invest in a property with great value, this home boasts off-street parking, a spacious layout, and a convenient location close to shops, parks and local amenities. The home features a traditional layout with three bedrooms, a full bathroom upstairs, and a half bath on the main floor. Bring your vision and creativity to this property and turn it into the perfect home or investment opportunity. Being sold as-is, this home is ready for its next chapter!

19. 2025-12-31
    historical
20. 2025-09-15
    status Active
21. 2025-08-29
    status Pending
22. 2025-06-26
    listed $39,900 Active
23. 2025-06-15
    historical
24. 2025-05-27
    price $39,900
25. 2024-11-22
    listed $42,900 Active

ⓘ 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: $940 · $78/mo
• Projected year-2 tax: $940 · $78/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 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: $21,719
• − Mortgage interest: −$1,675
• − Property taxes: −$940
• − Insurance: −$150
• − Repairs & maintenance: −$1,738
• − Management: −$1,738
• − Depreciation: −$870
• Taxable income: $14,610
• Est. tax owed @ 24.0%: −$3,506
• After-tax cash flow: $10,681/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

-30.3% since first listed

8 events — show timeline

• 2026-04-17 Listed $29,900 UNYREIS
• 2025-12-31 Listing Removed — UNYREIS
• 2025-09-15 Relisted — UNYREIS
• 2025-08-29 Pending — UNYREIS
• 2025-06-26 Listed $39,900 UNYREIS
• 2025-06-15 Listing Removed — UNYREIS
• 2025-05-27 Price Changed $39,900 UNYREIS
• 2024-11-22 Listed $42,900 UNYREIS

Property tax history

-2.8%/yr

Latest (2025): $940 · -0.4% YoY. Source: county tax records.