1063 Lincoln St · Elmira, NY 14901

$120,000

3 bd · 1.5 ba · 1,557 sqft · SingleFamily public records · 18 Days on market

Built 1921 7,680 sqft lot $77/sqft · 15% below area Est $141k · 15% under

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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 +16.1/30.0
• ARV discount +14.3/15.0
• Appreciation +10.0/10.0
• 1% rule +5.8/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

This 3 bedroom home has updated 1.5 baths, freshly painted throughout, natural woodwork, gleaming hardwood floors, central air, huge eat-in kitchen with lots of cabinet space, tankless water heater, updated electric, lovely heated sunporch.

Key facts

• 7,680 sq ft lot
• Garage
• Built 1921

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water connected; Sewer connected
• Home design: 2 stories; Existing construction
• Construction: Vinyl siding; Blown-in insulation; Shingle roof; Poured foundation
• Exterior features: Blacktop driveway; Covered porch

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: Bedroom 1
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; Main level bathroom present
• Heating & cooling: Electric forced air heating
• Interior features: Ceiling fan(s); Separate/formal dining room; Entrance foyer; Eat-in kitchen; Home office; Full basement with sump pump
• Laundry & utility: Electric water heater; Tankless water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $61 ($734/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 10.1% in Elmira — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 78 active listings in the ZIP; 7 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

• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $80k; list at $120k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1921 — 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: 1.08% ✓
• Cap rate: 6.90%
• Cash-on-cash: 2.18%
• DSCR: 1.10
• GRM: 7.7

CMA / ARV

• ARV (median comp): $141,184
• List price: $120,000
• Delta: -15.00%
• 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
625 Roe Ave	0.30mi	3/1.5	1,687 (+8%)	4mo	$230,000	$136	69
1153 College Ave	0.38mi	3/1.0	1,480 (-5%)	5mo	$105,000	$71	68
218 Grant St	0.50mi	2/1.0 (-1)	1,580 (+2%)	5mo	$89,000	$56	63
921 Grove St	0.38mi	3/1.0	1,414 (-9%)	5mo	$134,000	$95	60
319 Webber Pl	0.41mi	3/1.5	1,716 (+10%)	8mo	$145,000	$84	57
455 Roe Ave	0.19mi	4/2.0 (+1)	1,764 (+13%)	6mo	$105,000	$60	57
819 Sunset Dr	0.59mi	3/2.0	1,440 (-8%)	2mo	$202,800	$141	57
950 N Main St	0.58mi	4/1.5 (+1)	1,644 (+6%)	7mo	$37,000	$23	53
862 Magee St	0.71mi	3/1.0	1,440 (-8%)	1mo	$64,900	$45	51
1201 Magee St	0.57mi	3/2.0	1,686 (+8%)	8mo	$176,000	$104	51
336 W Washington Ave	0.46mi	3/2.0	1,344 (-14%)	5mo	$119,900	$89	49
660 Walnut St	0.71mi	4/1.5 (+1)	1,400 (-10%)	1mo	$150,000	$107	45

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.9%
• Equity multiple: 3.06×
• Total profit: $69,352
• Equity at exit: $108,106

10-year hold

• IRR: 22.8%
• Equity multiple: 6.99×
• Total profit: $201,368
• Equity at exit: $233,134

Cash invested: $33,600 (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 14901

• Home prices YoY: 15.9%
• Active inventory: 78
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,296 high
• Mortgage (P&I): −$629
• Tax from tax record: −$283 /mo · $3,396/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $61

Break-even live

Break-even rent $1,218

Max offer price $120,000

Occupancy floor 90%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
357 W Clinton St Unit 1 Elmira, NY	2.0	1.5	1650	$1,500	$0.91	43d	1	0.86mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	43d	1	0.86mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	43d	1	0.96mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	43d	1	1.02mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	43d	1	1.11mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	43d	1	1.27mi
715 W Water St Unit A Elmira, NY	2.0	1.0	2246	$1,100	$0.49	43d	1	1.31mi

Listing history 5 events

1. 2026-05-16
   status Pending 808-char remark
2. 2026-04-28
   listed $120,000 Active 808-char remark
3. 2012-06-27
   soldstatus $80,000 240-char remark

   Show marketing remark (240 chars)

   This 3 bedroom home has updated 1.5 baths, freshly painted throughout, natural woodwork, gleaming hardwood floors, central air, huge eat-in kitchen with lots of cabinet space, tankless water heater, updated electric, lovely heated sunporch.

4. 2012-06-27
   soldstatus $80,000

   Show marketing remark (240 chars)

   This 3 bedroom home has updated 1.5 baths, freshly painted throughout, natural woodwork, gleaming hardwood floors, central air, huge eat-in kitchen with lots of cabinet space, tankless water heater, updated electric, lovely heated sunporch.

5. 2012-04-02
   listed $82,000 240-char remark

   Show marketing remark (240 chars)

   This 3 bedroom home has updated 1.5 baths, freshly painted throughout, natural woodwork, gleaming hardwood floors, central air, huge eat-in kitchen with lots of cabinet space, tankless water heater, updated electric, lovely heated sunporch.

ⓘ 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: $3,396 · $283/mo
• Projected year-2 tax: $3,396 · $283/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥97°F today · 17 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: $15,547
• − Mortgage interest: −$6,722
• − Property taxes: −$3,396
• − Insurance: −$600
• − Repairs & maintenance: −$1,244
• − Management: −$1,244
• − Depreciation: −$3,491
• Taxable loss: −$1,150
• Est. tax savings @ 24.0%: +$276
• After-tax cash flow: $1,010/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): 14,430

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 (70%)
• Race & ethnicity: White 70% Black 15% Two or more races 7% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Chinese 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: ▲ 32.34%
• Current HPI: 236.2674
• 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

+46.3% since first listed

5 events — show timeline

• 2026-05-16 Pending — UNYREIS
• 2026-04-28 Listed $120,000 UNYREIS
• 2012-06-27 Sold (Public Records) $80,000 Public Records
• 2012-06-27 Sold (MLS) $80,000 UNYREIS
• 2012-04-02 Listed $82,000 UNYREIS

Property tax history

+7.7%/yr

Latest (2025): $3,396 · -15.8% YoY. Source: county tax records.