332 E 2nd St · Corning, NY 14830

$139,900

3 bd · 2.0 ba · 1,913 sqft · SingleFamily public records · 114 Days on market

Built 1870 10,395 sqft lot $73/sqft · 15% below area Est $165k · 15% under ↓ 26% since listing

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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 +14.4/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Victorian style home features a covered front porch, fenced yard, gazebo, and a carriage house. The carriage house is not a residential property and is ideal for storage purposes. Off street parking is available off Etruscan Lane next to the carriage house. This 3 bedroom / 2 bathroom house boasts hardwood floors, pocket doors, and a fireplace in the living room. Heat and plumbing are not in working order. Electric service upgrade & electric repairs may be needed. A recent survey of an adjoining property shows the garage/carriage house may be encroaching on this property. The property is being sold As-Is Condition.

Key facts

• Covered front porch
• Off street parking
• Fenced yard

Tags

• COVERED FRONT PORCH
• FENCED YARD
• GAZEBO
• CARRIAGE HOUSE
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 8.0% in Corning — 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 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: 106 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 34% 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 $967 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — 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 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?
7. 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.
8. 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.
9. 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: 1.49% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.32%
• DSCR: 1.73
• GRM: 5.6

CMA / ARV

• ARV (median comp): $165,295
• List price: $139,900
• Delta: -15.36%
• 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
315 E 2nd St	0.04mi	4/2.0 (+1)	1,932 (+1%)	11mo	$86,000	$45	82
373 Watauga Avenue Ext	0.14mi	4/2.0 (+1)	2,076 (+8%)	1mo	$180,000	$87	73
175 E 3rd St	0.34mi	4/2.0 (+1)	1,991 (+4%)	6mo	$199,000	$100	67
385 Watauga Avenue Ext	0.17mi	4/1.5 (+1)	1,798 (-6%)	10mo	$115,000	$64	67
213 Wall St	0.53mi	3/2.0	1,932 (+1%)	12mo	$260,000	$135	64
240 Park Ave	0.23mi	4/2.0 (+1)	1,800 (-6%)	19mo	$50,000	$28	59
107 E Second St	0.48mi	3/2.0	1,769 (-8%)	8mo	$132,000	$75	59
112 E Third St	0.47mi	4/2.0 (+1)	1,933 (+1%)	16mo	$198,000	$102	58
171 Upper Delevan Ave	0.42mi	3/2.0	2,108 (+10%)	8mo	$290,000	$138	57
224 Wall St	0.51mi	2/1.5 (-1)	1,857 (-3%)	21mo	$125,000	$67	47
248 Chemung St	0.44mi	3/1.5	1,705 (-11%)	20mo	$216,000	$127	43
159 Watauga	0.43mi	2/1.5 (-1)	1,677 (-12%)	15mo	$162,000	$97	40

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: 7.4%
• Equity multiple: 1.29×
• Total profit: $11,388
• Equity at exit: $20,860

10-year hold

• IRR: 16.8%
• Equity multiple: 2.38×
• Total profit: $54,111
• Equity at exit: $12,096

Cash invested: $39,172 (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: 106
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,086 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$323 /mo · $3,877/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $533

Break-even live

Break-even rent $1,411

Max offer price $139,900

Occupancy floor 69%

Sensitivity live

Price	-10% $612	-5% $572	+0% $533	+5% $493	+10% $454
Rent	-10% $368	-5% $450	+0% $533	+5% $615	+10% $698
Rate	-1.0pp $603	-0.5pp $568	base $533	+0.5pp $497	+1.0pp $460

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: $34,975
• Closing costs: $4,197
• 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	45d	1	0.34mi

Listing history 29 events

1. 2026-06-19
   days on market $139,900 Active 114 DOM
2. 2026-06-18
   days on market $139,900 Active 113 DOM
3. 2026-06-17
   days on market $139,900 Active 112 DOM
4. 2026-06-16
   days on market $139,900 Active 111 DOM
5. 2026-06-15
   days on market $139,900 Active 110 DOM
6. 2026-06-14
   days on market $139,900 Active 108 DOM
7. 2026-06-12
   days on market $139,900 Active 107 DOM
8. 2026-06-09
   days on market $139,900 Active 104 DOM
9. 2026-06-08
   days on market $139,900 Active 103 DOM
10. 2026-06-07
    days on market $139,900 Active 102 DOM
11. 2026-06-05
    days on market $139,900 Active 99 DOM
12. 2026-06-03
    days on market $139,900 Active 98 DOM
13. 2026-06-02
    days on market $139,900 Active 97 DOM
14. 2026-06-01
    days on market $139,900 Active 96 DOM
15. 2026-05-31
    days on market $139,900 Active 95 DOM
16. 2026-05-30
    days on market $139,900 Active 94 DOM
17. 2026-05-13
    status Active 633-char remark

    Show marketing remark (633 chars)

    This Victorian style home features a covered front porch, fenced yard, gazebo, and a carriage house. The carriage house is not a residential property and is ideal for storage purposes. Off street parking is available off Etruscan Lane next to the carriage house. This 3 bedroom / 2 bathroom house boasts hardwood floors, pocket doors, and a fireplace in the living room. Heat and plumbing are not in working order. Electric service upgrade & electric repairs may be needed. A recent survey of an adjoining property shows the garage/carriage house may be encroaching on this property. The property is being sold As-Is Condition.

18. 2026-05-04
    status Pending 633-char remark

    Show marketing remark (633 chars)

    This Victorian style home features a covered front porch, fenced yard, gazebo, and a carriage house. The carriage house is not a residential property and is ideal for storage purposes. Off street parking is available off Etruscan Lane next to the carriage house. This 3 bedroom / 2 bathroom house boasts hardwood floors, pocket doors, and a fireplace in the living room. Heat and plumbing are not in working order. Electric service upgrade & electric repairs may be needed. A recent survey of an adjoining property shows the garage/carriage house may be encroaching on this property. The property is being sold As-Is Condition.

19. 2026-04-17
    price $139,900 633-char remark

    Show marketing remark (633 chars)

    This Victorian style home features a covered front porch, fenced yard, gazebo, and a carriage house. The carriage house is not a residential property and is ideal for storage purposes. Off street parking is available off Etruscan Lane next to the carriage house. This 3 bedroom / 2 bathroom house boasts hardwood floors, pocket doors, and a fireplace in the living room. Heat and plumbing are not in working order. Electric service upgrade & electric repairs may be needed. A recent survey of an adjoining property shows the garage/carriage house may be encroaching on this property. The property is being sold As-Is Condition.

20. 2026-03-31
    price $154,900 633-char remark

    Show marketing remark (633 chars)

    This Victorian style home features a covered front porch, fenced yard, gazebo, and a carriage house. The carriage house is not a residential property and is ideal for storage purposes. Off street parking is available off Etruscan Lane next to the carriage house. This 3 bedroom / 2 bathroom house boasts hardwood floors, pocket doors, and a fireplace in the living room. Heat and plumbing are not in working order. Electric service upgrade & electric repairs may be needed. A recent survey of an adjoining property shows the garage/carriage house may be encroaching on this property. The property is being sold As-Is Condition.

21. 2026-02-15
    listed $169,900 Active 633-char remark

    Show marketing remark (633 chars)

    This Victorian style home features a covered front porch, fenced yard, gazebo, and a carriage house. The carriage house is not a residential property and is ideal for storage purposes. Off street parking is available off Etruscan Lane next to the carriage house. This 3 bedroom / 2 bathroom house boasts hardwood floors, pocket doors, and a fireplace in the living room. Heat and plumbing are not in working order. Electric service upgrade & electric repairs may be needed. A recent survey of an adjoining property shows the garage/carriage house may be encroaching on this property. The property is being sold As-Is Condition.

22. 2025-06-27
    historical
23. 2025-06-12
    listed $168,000 Active
24. 2025-06-11
    historical
25. 2025-05-12
    status Active
26. 2025-04-09
    historical
27. 2025-03-11
    listed $185,000 Active
28. 2024-12-06
    historical
29. 2024-06-06
    listed $189,000

ⓘ 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: $3,877 · $323/mo
• Projected year-2 tax: $3,877 · $323/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 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: $25,030
• − Mortgage interest: −$7,837
• − Property taxes: −$3,877
• − Insurance: −$700
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − Depreciation: −$4,070
• Taxable income: $4,543
• Est. tax owed @ 24.0%: −$1,090
• After-tax cash flow: $5,303/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

-26.0% since first listed

13 events — show timeline

• 2026-05-13 Relisted — UNYREIS
• 2026-05-04 Pending — UNYREIS
• 2026-04-17 Price Changed $139,900 UNYREIS
• 2026-03-31 Price Changed $154,900 UNYREIS
• 2026-02-15 Listed $169,900 UNYREIS
• 2025-06-27 Listing Removed — UNYREIS
• 2025-06-12 Listed $168,000 UNYREIS
• 2025-06-11 Listing Removed — UNYREIS
• 2025-05-12 Relisted — UNYREIS
• 2025-04-09 Listing Removed — UNYREIS
• 2025-03-11 Listed $185,000 UNYREIS
• 2024-12-06 Listing Removed — UNYREIS
• 2024-06-06 Listed $189,000 UNYREIS

Property tax history

+9.2%/yr

Latest (2025): $3,877 · -1.5% YoY. Source: county tax records.