308 S Main St · Horseheads, NY 14845

$320,000

4 bd · 3.0 ba · 3,155 sqft · SingleFamily public records · 7 Days on market

Built 1920 3,327 sqft lot Est $287k · 11% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD home. Selling 'as-is'. Buyer to verify all information including zoning and C of O ordinance. Streamline K eligible FHA financing. Case #372-368575

Key facts

• New boiler
• Quartz countertops
• Brand new roof

Tags

• BRAND NEW ROOF
• NEW BOILER
• FULLY RENOVATED KITCHEN
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS
• BRIGHT LIVING ROOM

Property features AI

Exterior

• Parking: No garage
• Utilities: Cable available; High-speed internet available; Public water (connected); Sewer connected
• Home design: Two-story residence; Resale property
• Construction: Brick and vinyl siding; Poured foundation; Existing (previously built)
• Exterior features: Blacktop driveway; Covered patio/porch; Patio; Porch; Shed(s); Exterior storage

Interior

• Kitchen: Country kitchen; Quartz counters; Gas oven; Gas range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Convertible bedroom (counts among total rooms)
• Flooring: Laminate; Luxury vinyl; Varies
• Bathrooms: 4 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas heating; Baseboard heating; Hot water heating
• Interior features: Attic; Separate/formal dining room; Separate/formal living room; Home office; Country kitchen; Quartz counters; Storage; Convertible bedroom; Primary bedroom with bath; Walk-out basement access; One fireplace
• Laundry & utility: Main-level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Cap rate 11.5% vs local median 5.1% in Horseheads — 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 69/100 on livability (#494 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, schools B; Watch: crime D+, health & safety D, amenities F.
• Horseheads Central School District (suburban): math 44% / reading 58% proficiency, ranked #347 of 590 in NY (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Chemung County population projected at -17% 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 $90k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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 $122k; list at $320k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $320,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. Crime grade is D 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?
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: 1.41% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.58%
• DSCR: 1.83
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $287,105
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1019 S Main St	0.68mi	4/3.5	3,462 (+10%)	15mo	$315,000	$91	38
403 Bush Ave	0.71mi	3/2.0 (-1)	3,410 (+8%)	16mo	$300,000	$88	31

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: 10.3%
• Equity multiple: 1.41×
• Total profit: $36,542
• Equity at exit: $47,713

10-year hold

• IRR: 19.4%
• Equity multiple: 2.63×
• Total profit: $145,758
• Equity at exit: $27,668

Cash invested: $89,600 (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 14845

• Home prices YoY: -24.9%
• Active inventory: 92
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $4,500 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$356 /mo · $4,276/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $1,387

Break-even live

Break-even rent $2,744

Max offer price $320,000

Occupancy floor 64%

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
911 S Main St Horseheads, NY	4.0	3.0	2945	$4,500	$1.53	44d	1	0.55mi

Listing history 7 events

1. 2026-06-19
   days on market $320,000 Active 7 DOM
2. 2026-06-18
   days on market $320,000 Active 6 DOM
3. 2026-06-17
   days on market $320,000 Active 5 DOM
4. 2026-06-16
   days on market $320,000 Active 4 DOM
5. 2026-06-15
   days on market $320,000 Active 3 DOM
6. 2026-06-12
   remarks 699-char remark
7. 2026-06-12
   listed $320,000 Active 1 DOM

ⓘ 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: $4,276 · $356/mo
• Projected year-2 tax: $4,842 · $403/mo
• Expected delta: +$566/yr (+$47/mo · 13.2%)

ⓘ 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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,000
• − Mortgage interest: −$17,925
• − Property taxes: −$4,276
• − Insurance: −$1,600
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − Depreciation: −$9,309
• Taxable income: $12,250
• Est. tax owed @ 24.0%: −$2,940
• After-tax cash flow: $13,707/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: Horseheads Central School District
• NCES district ID: 3614850
• Math proficiency: 44% ▼ -19.00%
• Reading proficiency: 58% ▲ 3.00%
• Median HH income: $60,594
• Composite: 44.58/100
• National rank: #2781
• State rank: #347 of 590 in NY

Livability — Horseheads

• Score: 69/100
• State rank: #494
• US rank: #8689

Category grades

Amenities F Commute F Cost of living A Crime D+ Employment C+ Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Horseheads, NY
• Population (ZIP): 20,552

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Asian 2% Hispanic / Latino 2% Black 2%
• Common ancestry: Romanian 6% Slovak 2% Iranian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 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: ▼ -82.23%
• Current HPI: 247.777
• 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

+78.8% since first listed

7 events — show timeline

• 2026-06-12 Listed $320,000 UNYREIS
• 2010-07-30 Sold (MLS) $122,000 UNYREIS
• 2010-01-22 Listed $122,000 UNYREIS
• 2009-08-18 Listing Removed — UNYREIS
• 2009-02-19 Listed $195,500 UNYREIS
• 2007-09-26 Sold (MLS) $186,200 UNYREIS
• 2007-02-20 Listed $179,000 UNYREIS

Property tax history

-2.0%/yr

Latest (2025): $4,276 · +3.2% YoY. Source: county tax records.