3043 College Ave · Corning, NY 14830

$40,000

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

Built 1942 Fair condition 0.31 ac lot $32/sqft · 66% below area ↓ 7% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

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.

Key facts

• Covered front porch
• Spacious backyard
• Newer metal roof

Tags

• NEWER METAL ROOF
• UPDATED HOT WATER TANK
• SEPTIC SYSTEM
• COVERED FRONT PORCH
• SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Cap rate 38.8% vs local median 6.9% 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: 142 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 93d 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 $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.52% ✓
• Cap rate: 38.81%
• Cash-on-cash: 116.12%
• DSCR: 6.17
• GRM: 1.8

CMA / ARV

• ARV (median comp): $117,865
• List price: $40,000
• Delta: -62.67%
• 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%)	20mo	$101,850	$84	67
2747 Gorton Rd	0.67mi	2/1.0	1,239 (-2%)	10mo	$69,000	$56	57
326 Woodview Ave	0.65mi	2/1.0	1,148 (-9%)	2mo	$108,500	$95	52
388 E Second St	0.68mi	3/2.0 (+1)	1,152 (-9%)	16mo	$147,500	$128	31
2835 Main	0.57mi	3/2.0 (+1)	1,440 (+14%)	17mo	$116,000	$81	28
215 Park Ave	0.66mi	3/1.0 (+1)	1,444 (+14%)	23mo	$72,000	$50	22

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: —
• Equity multiple: 6.59×
• Total profit: $62,612
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 13.83×
• Total profit: $143,684
• Equity at exit: $3,458

Cash invested: $11,200 (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: 1 active · 3 under contract
• Months of supply: 3.0 mo (33%/mo absorbed)
• Median asking: $149,000 ($107/sqft)
• Median days on market: 4 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -12.6% 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: 142
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,808 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$118 /mo · $1,422/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $1,084

Break-even live

Break-even rent $437

Max offer price $40,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,106	-5% $1,095	+0% $1,084	+5% $1,072	+10% $1,061
Rent	-10% $941	-5% $1,012	+0% $1,084	+5% $1,155	+10% $1,227
Rate	-1.0pp $1,104	-0.5pp $1,094	base $1,084	+0.5pp $1,073	+1.0pp $1,063

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: $10,000
• Closing costs: $1,200
• Club membership (one-time): —
• 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	93d	1	0.68mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	93d	1	0.74mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	93d	1	0.97mi
90 E Market St Unit 2 Corning, NY	2.0	1.0	1044	$2,200	$2.11	93d	1	1.13mi

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connectedPublic water connectedSeptic tank sewer
• Home design: Single-story homeResale fixer
• Construction: Wood sidingMetal roofBuilt existing (year not specified)
• Exterior features: Dirt drivewayShed(s) and storage

Interior

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

Listing history 50 events

1. 2026-08-08
   days on market $40,000 Active 2 DOM
2. 2026-08-07
   pricedays on marketlisting id $40,000 Active 1 DOM
3. 2026-07-29
   days on market $44,000 Active 91 DOM
4. 2026-07-27
   days on market $44,000 Active 89 DOM
5. 2026-07-25
   days on market $44,000 Active 87 DOM
6. 2026-07-23
   days on market $44,000 Active 85 DOM
7. 2026-07-22
   days on market $44,000 Active 84 DOM
8. 2026-07-21
   days on market $44,000 Active 83 DOM
9. 2026-07-18
   pricedays on market $44,000 Active 80 DOM
10. 2026-07-16
    days on market $48,000 Active 78 DOM
11. 2026-07-16
    days on market $48,000 Active 77 DOM
12. 2026-07-14
    days on market $48,000 Active 76 DOM
13. 2026-07-13
    days on market $48,000 Active 75 DOM
14. 2026-07-12
    days on market $48,000 Active 74 DOM
15. 2026-07-11
    days on market $48,000 Active 73 DOM
16. 2026-07-10
    days on market $48,000 Active 72 DOM
17. 2026-07-09
    days on market $48,000 Active 71 DOM
18. 2026-07-08
    days on market $48,000 Active 70 DOM
19. 2026-07-07
    days on market $48,000 Active 69 DOM
20. 2026-07-06
    days on market $48,000 Active 68 DOM
21. 2026-07-05
    days on market $48,000 Active 67 DOM
22. 2026-07-04
    days on market $48,000 Active 66 DOM
23. 2026-07-03
    days on market $48,000 Active 65 DOM
24. 2026-07-02
    days on market $48,000 Active 64 DOM
25. 2026-07-01
    price $48,000 Active 63 DOM
26. 2026-07-01
    days on market $52,000 Active 63 DOM
27. 2026-06-30
    days on market $52,000 Active 62 DOM
28. 2026-06-29
    days on market $52,000 Active 61 DOM
29. 2026-06-28
    days on market $52,000 Active 60 DOM
30. 2026-06-27
    days on market $52,000 Active 59 DOM
31. 2026-06-26
    days on market $52,000 Active 57 DOM
32. 2026-06-22
    days on market $52,000 Active 54 DOM
33. 2026-06-19
    days on market $52,000 Active 51 DOM
34. 2026-06-18
    remarks 695-char remark
35. 2026-06-18
    price $52,000 Active 50 DOM
36. 2026-06-18
    days on market $56,000 Active 50 DOM
37. 2026-06-17
    days on market $56,000 Active 49 DOM
38. 2026-06-16
    days on market $56,000 Active 48 DOM
39. 2026-06-15
    days on market $56,000 Active 47 DOM
40. 2026-06-14
    days on market $56,000 Active 45 DOM
41. 2026-06-12
    days on market $56,000 Active 44 DOM
42. 2026-06-09
    days on market $56,000 Active 41 DOM
43. 2026-06-08
    days on market $56,000 Active 40 DOM
44. 2026-06-07
    days on market $56,000 Active 39 DOM
45. 2026-06-05
    days on market $56,000 Active 36 DOM
46. 2026-06-03
    days on market $56,000 Active 35 DOM
47. 2026-06-02
    days on market $56,000 Active 34 DOM
48. 2026-06-01
    days on market $56,000 Active 33 DOM
49. 2026-05-31
    days on market $56,000 Active 32 DOM
50. 2026-05-30
    days on market $56,000 Active 31 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: $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: −$2,241
• − Property taxes: −$1,422
• − Insurance: −$200
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$1,164
• Taxable income: $13,203
• Est. tax owed @ 24.0%: −$3,169
• After-tax cash flow: $9,836/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 $31,600–$56,880 screening

This single-family home requires significant exterior repairs and maintenance, but has newer mechanical systems and a spacious lot. Potential investors should consider the extensive work needed to bring the property up to a fair condition.

Components & finishes AI

Roof metal

Deferred maintenance Est. $30,000–$90,000 screening

• Major Roof (roof) — Significant damage to the roof structure is visible.
• Major Windows (windows) — Windows appear to be broken or missing, indicating severe damage.
• Major Exterior (exterior) — The exterior walls show significant damage and missing sections.

Repairs flagged

• Major roof — Significant wear and potential leaks
• Major siding — Severe peeling and weathering
• Major exterior walls — Significant deterioration

Value-add opportunities

• Both paint exterior walls — Enhances curb appeal and value ↑
• Both repair and replace siding — Improves home's appearance and value ↑
• Both replace roof — Fixes major issue and improves home's value ↑

ⓘ 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

• 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%
• 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%

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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

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connectedPublic water connectedSeptic tank sewer
• Home design: Single-story homeResale fixer
• Construction: Wood sidingMetal roofBuilt existing (year not specified)
• Exterior features: Dirt drivewayShed(s) and storage

Interior

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

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.