3043 College Ave · Corning, NY 14830

$52,000

2 bd · 1.0 ba · 1,264 sqft · SingleFamily public records · 51 Days on market

Built 1942 0.31 ac lot $41/sqft · 55% below area ↓ 7% 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
• 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

PRICE REDUCED & PHOTOS ADDED! Calling all investors, contractors, and visionaries! Bring your tools and imagination to this 2-bedroom, 1-bath home packed with potential and sitting on a generous 1/3-acre lot. Skip the heavy lifting on major mechanicals as this property already features a newer metal roof, a hot water tank (less than 3 years old), and a solid furnace (less than 10 years old) and Septic system replaced approx. 10 years ago. Relax on the covered front porch or step into the spacious backyard to enjoy the peaceful, gentle sounds of the creek. Whether you're looking to renovate and flip, build a rental portfolio, or expand for your dream property, the footprint is read

Key facts

• Covered front porch
• Spacious lot
• Newer metal roof

Tags

• SPACIOUS LOT
• NEWER METAL ROOF
• COVERED FRONT PORCH

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connected; Public water connected; Septic tank sewer
• Home design: Single-story home; Resale fixer
• Construction: Wood siding; Metal roof; Built existing (year not specified)
• Exterior features: Dirt driveway; Shed(s) and storage

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced air heating
• Interior features: Partial basement; Basement (partial); Other interior features (see remarks)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $52k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $52k).
• Recommended offer: $50k (3.0% below list) — sets the bar for market timing.
• Cap rate 29.7% 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.
• Market conditions: 106 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $360 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($50k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,440 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1942 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 3.48% ✓
• Cap rate: 29.73%
• Cash-on-cash: 83.72%
• DSCR: 4.73
• GRM: 2.4

CMA / ARV

• ARV (median comp): $116,704
• List price: $52,000
• Delta: -55.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3010 College Ave	0.11mi	3/1.0 (+1)	1,216 (-4%)	18mo	$101,850	$84	68
2747 Gorton Rd	0.67mi	2/1.0	1,239 (-2%)	8mo	$69,000	$56	59
326 Woodview Ave	0.65mi	2/1.0	1,148 (-9%)	1mo	$108,500	$95	53
388 E Second St	0.68mi	3/2.0 (+1)	1,152 (-9%)	15mo	$147,500	$128	32
2835 Main	0.57mi	3/2.0 (+1)	1,440 (+14%)	15mo	$116,000	$81	29
215 Park Ave	0.66mi	3/1.0 (+1)	1,444 (+14%)	21mo	$72,000	$50	23

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: 84.1%
• Equity multiple: 4.87×
• Total profit: $56,332
• Equity at exit: $7,753

10-year hold

• IRR: 87.4%
• Equity multiple: 10.11×
• Total profit: $132,607
• Equity at exit: $4,496

Cash invested: $14,560 (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: 2.4×

Monthly cashflow live

• Estimated rent: $1,808 medium
• Mortgage (P&I): −$273
• Tax from tax record: −$118 /mo · $1,422/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $1,016

Break-even live

Break-even rent $523

Max offer price $52,000

Occupancy floor 39%

Sensitivity live

Price	-10% $1,045	-5% $1,031	+0% $1,016	+5% $1,001	+10% $986
Rent	-10% $873	-5% $944	+0% $1,016	+5% $1,087	+10% $1,159
Rate	-1.0pp $1,042	-0.5pp $1,029	base $1,016	+0.5pp $1,002	+1.0pp $989

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
311 Denison Pkwy E Unit 201 Corning, NY	1.0	1.0	920	$1,350	$1.47	44d	1	0.68mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	44d	1	0.74mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	44d	1	0.97mi
90 E Market St Unit 2 Corning, NY	2.0	1.0	1044	$2,200	$2.11	44d	1	1.13mi

Listing history 19 events

1. 2026-06-19
   days on market $52,000 Active 51 DOM
2. 2026-06-18
   remarks 695-char remark
3. 2026-06-18
   price $52,000 Active 50 DOM
4. 2026-06-18
   days on market $56,000 Active 50 DOM
5. 2026-06-17
   days on market $56,000 Active 49 DOM
6. 2026-06-16
   days on market $56,000 Active 48 DOM
7. 2026-06-15
   days on market $56,000 Active 47 DOM
8. 2026-06-14
   days on market $56,000 Active 45 DOM
9. 2026-06-12
   days on market $56,000 Active 44 DOM
10. 2026-06-09
    days on market $56,000 Active 41 DOM
11. 2026-06-08
    days on market $56,000 Active 40 DOM
12. 2026-06-07
    days on market $56,000 Active 39 DOM
13. 2026-06-05
    days on market $56,000 Active 36 DOM
14. 2026-06-03
    days on market $56,000 Active 35 DOM
15. 2026-06-02
    days on market $56,000 Active 34 DOM
16. 2026-06-01
    days on market $56,000 Active 33 DOM
17. 2026-05-31
    days on market $56,000 Active 32 DOM
18. 2026-05-30
    days on market $56,000 Active 31 DOM
19. 2026-04-28
    listed $56,000 Active 549-char remark

ⓘ 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: $1,422 · $118/mo
• Projected year-2 tax: $1,422 · $118/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
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,701
• − Mortgage interest: −$2,913
• − Property taxes: −$1,422
• − Insurance: −$260
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$1,513
• Taxable income: $12,122
• Est. tax owed @ 24.0%: −$2,909
• After-tax cash flow: $9,281/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

• 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

-7.1% since first listed

2 events — show timeline

• 2026-06-18 Price Changed $52,000 UNYREIS
• 2026-04-28 Listed $56,000 UNYREIS

Property tax history

-1.6%/yr

Latest (2025): $1,422 · +3.1% YoY. Source: county tax records.