332 E 2nd St · Corning, NY 14830

$74,900

3 bd · 2.0 ba · 1,913 sqft · SingleFamily public records · 256 Days on market

Built 1870 Fair condition 10,395 sqft lot $39/sqft · 56% below area ↓ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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 $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $830 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.6% vs local median 5.9% 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: 196 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 256 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $95k (56%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 256 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.28% ✓
• Cap rate: 19.59%
• Cash-on-cash: 47.50%
• DSCR: 3.11
• GRM: 3.7

CMA / ARV

• ARV (median comp): $170,188
• List price: $74,900
• Delta: -55.99%
• 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
328 Watauga Avenue Ext	0.16mi	3/2.0	1,847 (-4%)	3mo	$176,500	$96	84
315 E 2nd St	0.04mi	4/2.0 (+1)	1,932 (+1%)	16mo	$86,000	$45	78
328 Commerce St	0.33mi	2/2.0 (-1)	1,854 (-3%)	5mo	$200,000	$108	70
373 Watauga Avenue Ext	0.14mi	4/2.0 (+1)	2,076 (+8%)	6mo	$180,000	$87	70
256 Park Ave	0.27mi	3/1.5	1,752 (-8%)	3mo	$30,000	$17	69
217 E 3rd St	0.25mi	4/2.0 (+1)	1,780 (-7%)	5mo	$180,000	$101	68
175 E 3rd St	0.34mi	4/2.0 (+1)	1,991 (+4%)	11mo	$199,000	$100	63
385 Watauga Avenue Ext	0.17mi	4/1.5 (+1)	1,798 (-6%)	15mo	$115,000	$64	63
213 Wall St	0.53mi	3/2.0	1,932 (+1%)	16mo	$260,000	$135	60
107 E Second St	0.48mi	3/2.0	1,769 (-8%)	12mo	$132,000	$75	55
206 Watauga Ave	0.34mi	3/1.0	1,650 (-14%)	5mo	$160,000	$97	53
171 Upper Delevan Ave	0.42mi	3/2.0	2,108 (+10%)	12mo	$290,000	$138	53

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: 44.9%
• Equity multiple: 2.94×
• Total profit: $40,764
• Equity at exit: $11,168

10-year hold

• IRR: 50.8%
• Equity multiple: 5.94×
• Total profit: $103,686
• Equity at exit: $6,476

Cash invested: $20,972 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 8 active · 21 under contract
• Months of supply: 3.0 mo (33%/mo absorbed)
• Median asking: $197,500 ($109/sqft)
• Median days on market: 44 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -18.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14830

• Active inventory: 196
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,706 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $830

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 46%

Sensitivity live

Price	-10% $882	-5% $856	+0% $830	+5% $804	+10% $778
Rent	-10% $695	-5% $763	+0% $830	+5% $898	+10% $965
Rate	-1.0pp $868	-0.5pp $849	base $830	+0.5pp $811	+1.0pp $791

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: $18,725
• Closing costs: $2,247
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Conhocton St Corning, NY	2.0	1.0	1248	$1,550	$1.24	51d	1	0.13mi
25 Glen Ave Corning, NY	3.0	1.0	1480	$1,545	$1.04	6d	1	0.66mi
231 W 3rd St Corning, NY	3.0	2.0	2187	$3,500	$1.60	10d	1	1.19mi
237 W 3rd St Unit 201 Corning, NY	2.0	1.0	2076	$1,550	$0.75	10d	1	1.22mi
237 W 3rd St Unit 201 Corning, NY	2.0	1.0	2076	$1,550	$0.75	51d	1	1.22mi
84 Gorton St Corning, NY	2.0	1.0	1909	$975	$0.51	0d	1	1.31mi

Listing history 50 events

1. 2026-11-08
   days on market $74,900 Active 256 DOM
2. 2026-11-07
   days on market $74,900 Active 255 DOM
3. 2026-11-06
   days on market $74,900 Active 254 DOM
4. 2026-11-05
   days on market $74,900 Active 253 DOM
5. 2026-11-04
   pricedays on market $74,900 Active 252 DOM
6. 2026-11-02
   days on market $99,900 Active 250 DOM
7. 2026-11-01
   days on market $99,900 Active 249 DOM
8. 2026-10-31
   days on market $99,900 Active 248 DOM
9. 2026-10-30
   days on market $99,900 Active 247 DOM
10. 2026-10-29
    days on market $99,900 Active 246 DOM
11. 2026-10-28
    days on market $99,900 Active 245 DOM
12. 2026-10-27
    days on market $99,900 Active 244 DOM
13. 2026-10-26
    days on market $99,900 Active 243 DOM
14. 2026-10-25
    days on market $99,900 Active 242 DOM
15. 2026-10-24
    days on market $99,900 Active 241 DOM
16. 2026-10-23
    days on market $99,900 Active 240 DOM
17. 2026-10-22
    days on market $99,900 Active 239 DOM
18. 2026-10-21
    days on market $99,900 Active 238 DOM
19. 2026-10-20
    days on market $99,900 Active 237 DOM
20. 2026-10-19
    days on market $99,900 Active 236 DOM
21. 2026-10-18
    days on market $99,900 Active 235 DOM
22. 2026-10-17
    days on market $99,900 Active 234 DOM
23. 2026-10-16
    days on market $99,900 Active 233 DOM
24. 2026-10-15
    days on market $99,900 Active 232 DOM
25. 2026-10-14
    days on market $99,900 Active 231 DOM
26. 2026-10-13
    days on market $99,900 Active 230 DOM
27. 2026-10-12
    days on market $99,900 Active 229 DOM
28. 2026-10-11
    days on market $99,900 Active 228 DOM
29. 2026-10-10
    days on market $99,900 Active 227 DOM
30. 2026-10-09
    days on market $99,900 Active 226 DOM
31. 2026-10-08
    days on market $99,900 Active 225 DOM
32. 2026-10-07
    days on market $99,900 Active 224 DOM
33. 2026-10-07
    price $99,900 Active 223 DOM
34. 2026-10-06
    days on market $119,000 Active 223 DOM
35. 2026-10-05
    days on market $119,000 Active 222 DOM
36. 2026-10-04
    days on market $119,000 Active 221 DOM
37. 2026-10-03
    days on market $119,000 Active 220 DOM
38. 2026-10-02
    days on market $119,000 Active 219 DOM
39. 2026-10-01
    days on market $119,000 Active 218 DOM
40. 2026-09-30
    days on market $119,000 Active 217 DOM
41. 2026-09-29
    days on market $119,000 Active 216 DOM
42. 2026-09-28
    days on market $119,000 Active 215 DOM
43. 2026-09-27
    days on market $119,000 Active 214 DOM
44. 2026-09-26
    days on market $119,000 Active 213 DOM
45. 2026-09-25
    days on market $119,000 Active 212 DOM
46. 2026-09-24
    days on market $119,000 Active 211 DOM
47. 2026-09-23
    days on market $119,000 Active 210 DOM
48. 2026-09-20
    days on market $119,000 Active 207 DOM
49. 2026-09-18
    days on market $119,000 Active 205 DOM
50. 2026-09-17
    days on market $119,000 Active 204 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $20,473
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − Depreciation: −$2,179
• Taxable income: $9,325
• Est. tax owed @ 24.0%: −$2,238
• After-tax cash flow: $7,724/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $47,825–$86,085 screening

This Victorian-style home requires extensive repairs and maintenance, including roof replacement, siding repair, and interior wall and paint work. Upgrades to the HVAC, mechanical systems, and electric service are also needed. Landscaping and fencing improvements would further enhance its curb appeal and value.

Components & finishes AI

Roof tile · good

Deferred maintenance Est. $30,500–$92,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Major Windows (windows) — Windows appear old and may need replacement.
• Major Electrical (electrical) — Electrical panel may be outdated and require upgrade.
• Major Exterior (exterior) — Exterior siding appears worn and may need repainting or replacement.

Repairs flagged

• Major roof — Signs of wear and discoloration suggest significant damage.
• Major siding — The siding is worn and peeling, indicating extensive damage.
• Major paint — The paint is peeling in places, indicating significant wear.
• Major flooring — The condition of the flooring is not clear, but it likely needs replacement or repair.
• Major interior walls — The walls and paint show signs of wear and discoloration, indicating significant damage.
• Major electric service — The electric service is not in working order, indicating a major issue.
• Major HVAC — The HVAC is not in working order, indicating a major issue.
• Major mechanical systems — The mechanical systems are not in working order, indicating a major issue.
• Major landscaping — The landscaping is overgrown and in need of trimming and maintenance.
• Major fence — The fence is in poor condition and may need repair or replacement.
• Minor windows — The frames may need cleaning or repainting, but the windows themselves appear to be in good condition.

Value-add opportunities

• Both roof replacement — Re-roofing would significantly improve the home's appearance and increase its value. ↑
• Both siding repair/replacement — Repairing or replacing the siding would improve the home's curb appeal and increase its value. ↑
• Both painting — Painting the exterior would improve the home's appearance and increase its value. ↑
• Both landscaping — Trimming and maintaining the landscaping would improve the home's curb appeal and increase its value. ↑
• Both fence repair/replacement — Repairing or replacing the fence would improve the home's curb appeal and increase its value. ↑
• Both HVAC and mechanical systems repair — Repairing the HVAC and mechanical systems would improve the home's functionality and increase its value. ↑
• Both electric service upgrade and repairs — Upgrading and repairing the electric service would improve the home's functionality and increase its value. ↑
• Both interior wall and paint repair — Repairing the interior walls and paint would improve the home's appearance and increase its value. ↑
• Both flooring replacement — Replacing the flooring would improve the home's appearance and increase its value. ↑
• Both windows cleaning and repainting — Cleaning and repainting the window frames would improve the home's appearance and increase its value. (Frames appear to be in good condition, but may need cleaning and repainting.) ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 57/100

Zoned Schools

Elementary William E Severn Elementary School F NY #1,444/2,108 Nat'l #19,648/41,679 Middle Corning-Painted Post Middle School F NY #480/729 Nat'l #7,460/14,009 High Corning-Painted Post High School A+ NY #82/1,100 Nat'l #115/17,239

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

A Composite livability gradescore 87/100

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 · 93,062 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: 5% of renters

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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%

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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%
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Spanish 1% Other Asian/Pacific 1%

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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

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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.