328 Commerce St · Corning, NY 14830

$189,000

3 bd · 2.0 ba · 1,854 sqft · SingleFamily public records · 56 Days on market

Built 1923 0.26 ac lot Est $180k · 5% over

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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 +22.8/30.0
• DSCR +7.3/10.0
• 1% rule +6.1/10.0
• ARV discount +5.2/15.0
• 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 is your winter project! Great opportunity for a flip or rehab for you and your family. The home features a classic floor plan with an enclosed porch, a spacious great room, a cozy living room, and a full bathroom on the first floor. The back deck offers space for relaxation, and the fully fenced yard is perfect for outdoor activities. There’s also a detached garage and driveway off Roundhouse Lane. The property does need a tear-off roof, but the mechanicals appear solid, giving you a great starting point for your work. Finish the renovations by spring and enjoy the rewards! Located in Corning, this home is near Market Street with its shops, restaurants, and galleries. Denison Park is close by for recreation, and the Corning Museum of Glass and Rockwell Museum are just a short drive away. Schools, grocery stores, and other amenities are all within easy reach. Don’t miss this chance to create something special!

Key facts

• Large eat-in kitchen
• Gas fireplace
• New appliances

Tags

• LARGE EAT-IN KITCHEN
• NEW APPLIANCES
• NEW COUNTERTOPS
• VINYL REPLACEMENT WINDOWS
• GAS FIREPLACE
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.

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.
• 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 $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

• It's been on market 56 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $53k; list at $189k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.11% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.43%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $179,838
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 E 2nd St	0.31mi	4/2.0 (+1)	1,932 (+4%)	11mo	$86,000	$45	64
107 E Second St	0.57mi	3/2.0	1,769 (-5%)	8mo	$132,000	$75	60
385 Watauga Avenue Ext	0.46mi	4/1.5 (+1)	1,798 (-3%)	10mo	$115,000	$64	58
10 Corning Blvd	0.64mi	4/2.5 (+1)	1,804 (-3%)	5mo	$245,000	$136	54
240 Park Ave	0.43mi	4/2.0 (+1)	1,800 (-3%)	19mo	$50,000	$28	54
175 E 3rd St	0.51mi	4/2.0 (+1)	1,991 (+7%)	6mo	$199,000	$100	54
373 Watauga Avenue Ext	0.46mi	4/2.0 (+1)	2,076 (+12%)	1mo	$180,000	$87	53
213 Wall St	0.68mi	3/2.0	1,932 (+4%)	12mo	$260,000	$135	52
183 Columbia St	0.40mi	3/2.0	1,586 (-14%)	12mo	$132,000	$83	47
112 E Third St	0.62mi	4/2.0 (+1)	1,933 (+4%)	16mo	$198,000	$102	45
171 Upper Delevan Ave	0.69mi	3/2.0	2,108 (+14%)	8mo	$290,000	$138	38
159 Watauga	0.67mi	2/1.5 (-1)	1,677 (-10%)	15mo	$162,000	$97	34

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: -4.9%
• Equity multiple: 0.82×
• Total profit: $-9,726
• Equity at exit: $28,181

10-year hold

• IRR: 4.8%
• Equity multiple: 1.35×
• Total profit: $18,559
• Equity at exit: $16,341

Cash invested: $52,920 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,090 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$254 /mo · $3,044/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $327

Break-even live

Break-even rent $1,675

Max offer price $189,000

Occupancy floor 79%

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: $47,250
• Closing costs: $5,670
• 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	44d	1	0.43mi

Listing history 23 events

1. 2026-06-18
   status $189,000 Pending 56 DOM
2. 2026-06-18
   days on market $189,000 Active Under Contract 56 DOM
3. 2026-06-17
   days on market $189,000 Active Under Contract 55 DOM
4. 2026-06-16
   days on market $189,000 Active Under Contract 54 DOM
5. 2026-06-15
   days on market $189,000 Active Under Contract 53 DOM
6. 2026-06-14
   days on market $189,000 Active Under Contract 51 DOM
7. 2026-06-12
   days on market $189,000 Active Under Contract 50 DOM
8. 2026-06-09
   days on market $189,000 Active Under Contract 47 DOM
9. 2026-06-08
   days on market $189,000 Active Under Contract 46 DOM
10. 2026-06-07
    days on market $189,000 Active Under Contract 45 DOM
11. 2026-06-05
    days on market $189,000 Active Under Contract 42 DOM
12. 2026-06-03
    days on market $189,000 Active Under Contract 41 DOM
13. 2026-06-02
    days on market $189,000 Active Under Contract 40 DOM
14. 2026-06-01
    days on market $189,000 Active Under Contract 39 DOM
15. 2026-05-31
    days on market $189,000 Active Under Contract 38 DOM
16. 2026-05-30
    days on market $189,000 Active Under Contract 37 DOM
17. 2026-04-29
    historical Active Under Contract
18. 2026-04-23
    listed $189,000 Active
19. 2025-04-04
    soldstatus $53,000 Closed 942-char remark

    Show marketing remark (942 chars)

    This is your winter project! Great opportunity for a flip or rehab for you and your family. The home features a classic floor plan with an enclosed porch, a spacious great room, a cozy living room, and a full bathroom on the first floor. The back deck offers space for relaxation, and the fully fenced yard is perfect for outdoor activities. There’s also a detached garage and driveway off Roundhouse Lane. The property does need a tear-off roof, but the mechanicals appear solid, giving you a great starting point for your work. Finish the renovations by spring and enjoy the rewards! Located in Corning, this home is near Market Street with its shops, restaurants, and galleries. Denison Park is close by for recreation, and the Corning Museum of Glass and Rockwell Museum are just a short drive away. Schools, grocery stores, and other amenities are all within easy reach. Don’t miss this chance to create something special!

20. 2025-04-01
    soldstatus $53,000
21. 2025-01-24
    status Pending 942-char remark

    Show marketing remark (942 chars)

    This is your winter project! Great opportunity for a flip or rehab for you and your family. The home features a classic floor plan with an enclosed porch, a spacious great room, a cozy living room, and a full bathroom on the first floor. The back deck offers space for relaxation, and the fully fenced yard is perfect for outdoor activities. There’s also a detached garage and driveway off Roundhouse Lane. The property does need a tear-off roof, but the mechanicals appear solid, giving you a great starting point for your work. Finish the renovations by spring and enjoy the rewards! Located in Corning, this home is near Market Street with its shops, restaurants, and galleries. Denison Park is close by for recreation, and the Corning Museum of Glass and Rockwell Museum are just a short drive away. Schools, grocery stores, and other amenities are all within easy reach. Don’t miss this chance to create something special!

22. 2024-12-21
    historical Active Under Contract 942-char remark

    Show marketing remark (942 chars)

    This is your winter project! Great opportunity for a flip or rehab for you and your family. The home features a classic floor plan with an enclosed porch, a spacious great room, a cozy living room, and a full bathroom on the first floor. The back deck offers space for relaxation, and the fully fenced yard is perfect for outdoor activities. There’s also a detached garage and driveway off Roundhouse Lane. The property does need a tear-off roof, but the mechanicals appear solid, giving you a great starting point for your work. Finish the renovations by spring and enjoy the rewards! Located in Corning, this home is near Market Street with its shops, restaurants, and galleries. Denison Park is close by for recreation, and the Corning Museum of Glass and Rockwell Museum are just a short drive away. Schools, grocery stores, and other amenities are all within easy reach. Don’t miss this chance to create something special!

23. 2024-12-12
    listed $59,777 Active 942-char remark

    Show marketing remark (942 chars)

    This is your winter project! Great opportunity for a flip or rehab for you and your family. The home features a classic floor plan with an enclosed porch, a spacious great room, a cozy living room, and a full bathroom on the first floor. The back deck offers space for relaxation, and the fully fenced yard is perfect for outdoor activities. There’s also a detached garage and driveway off Roundhouse Lane. The property does need a tear-off roof, but the mechanicals appear solid, giving you a great starting point for your work. Finish the renovations by spring and enjoy the rewards! Located in Corning, this home is near Market Street with its shops, restaurants, and galleries. Denison Park is close by for recreation, and the Corning Museum of Glass and Rockwell Museum are just a short drive away. Schools, grocery stores, and other amenities are all within easy reach. Don’t miss this chance to create something special!

ⓘ 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: $3,044 · $254/mo
• Projected year-2 tax: $3,119 · $260/mo
• Expected delta: +$75/yr (+$6/mo · 2.5%)

ⓘ 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 8 d/yr ≥94°F today · 17 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: $25,079
• − Mortgage interest: −$10,587
• − Property taxes: −$3,044
• − Insurance: −$945
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − Depreciation: −$5,498
• Taxable income: $992
• Est. tax owed @ 24.0%: −$238
• After-tax cash flow: $3,692/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

+216.2% since first listed

7 events — show timeline

• 2026-04-29 Contingent — UNYREIS
• 2026-04-23 Listed $189,000 UNYREIS
• 2025-04-04 Sold (MLS) $53,000 UNYREIS
• 2025-04-01 Sold (Public Records) $53,000 Public Records
• 2025-01-24 Pending — UNYREIS
• 2024-12-21 Contingent — UNYREIS
• 2024-12-12 Listed $59,777 UNYREIS

Property tax history

+4.2%/yr

Latest (2025): $3,044 · -1.9% YoY. Source: county tax records.