1018 Hall St · Elmira, NY 14901

$73,900

4 bd · 2.0 ba · 1,988 sqft · MultiFamily public records · 12 Days on market

Built 1900 7,923 sqft lot Est $78k · at est.

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +9.6/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Updated duplex on a quiet side street with updates throughout. New roof, plumbing and electric, mechanicals, windows and flooring, separate utilities as well as laundry facilities in each unit. Ideal for investors or owner-occupied.

Key facts

• 7,923 sq ft lot
• Parking
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $74k.

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 $74k).
• Cap rate 24.5% vs local median 10.1% in Elmira — 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 62/100 on livability (#832 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Elmira City School District (urban): math 23% / reading 35% proficiency, ranked #580 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ernie Davis Academy (math 5% / reading 31%, grade F, #691 of 729 statewide, top 95%, 802 students, 66% FRL).
• Market conditions: 81 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($511 loan paydown + $7k appreciation (10.0% local appreciation)).
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 21y 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 $54k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.05% ✓
• Cap rate: 24.51%
• Cash-on-cash: 65.07%
• DSCR: 3.90
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $77,532
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
317 Roe Ave	0.67mi	5/2.0 (+1)	2,016 (+1%)	0mo	$50,000	$25	61
712 E Washington Ave	0.32mi	3/2.0 (-1)	2,042 (+3%)	19mo	$58,000	$28	60
313 Roe Ave	0.65mi	3/2.0 (-1)	1,909 (-4%)	1mo	$137,500	$72	57
365 E Thurston St	0.54mi	5/2.0 (+1)	2,026 (+2%)	14mo	$79,000	$39	55
912 Magee St	0.48mi	4/2.5	1,769 (-11%)	3mo	$109,000	$62	54
768 Linden Pl	0.35mi	3/2.0 (-1)	1,788 (-10%)	13mo	$65,000	$36	51
382 Norton St	0.37mi	4/2.0	1,692 (-15%)	12mo	$27,000	$16	48
1054 College Ave	0.59mi	5/2.0 (+1)	2,214 (+11%)	22mo	$130,000	$59	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 76.7%
• Equity multiple: 6.40×
• Total profit: $111,834
• Equity at exit: $66,575

10-year hold

• IRR: 70.7%
• Equity multiple: 14.21×
• Total profit: $273,387
• Equity at exit: $143,571

Cash invested: $20,692 (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 14901

• Home prices YoY: 15.9%
• Active inventory: 81
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,256 high
• Mortgage (P&I): −$388
• Tax from tax record: −$242 /mo · $2,903/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $1,122

Break-even live

Break-even rent $836

Max offer price $73,900

Occupancy floor 45%

Sensitivity live

Price	-10% $1,164	-5% $1,143	+0% $1,122	+5% $1,101	+10% $1,080
Rent	-10% $944	-5% $1,033	+0% $1,122	+5% $1,211	+10% $1,300
Rate	-1.0pp $1,159	-0.5pp $1,141	base $1,122	+0.5pp $1,103	+1.0pp $1,083

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,256
Total (2 units)			$2,256

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: $18,475
• Closing costs: $2,217
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	45d	1	0.90mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	45d	1	0.96mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	45d	1	1.36mi

Listing history 17 events

1. 2026-03-22
   status Pending
2. 2026-03-09
   listed $73,900 Active
3. 2025-12-17
   historical $950
4. 2025-10-22
   listed $950
5. 2025-08-14
   historical $1,000
6. 2025-07-11
   listed $1,000
7. 2021-10-26
   soldstatus $53,900
8. 2021-10-18
   soldstatus $53,900 233-char remark

   Show marketing remark (233 chars)

   Updated duplex on a quiet side street with updates throughout. New roof, plumbing and electric, mechanicals, windows and flooring, separate utilities as well as laundry facilities in each unit. Ideal for investors or owner-occupied.

9. 2021-07-10
   listed $59,900 233-char remark

   Show marketing remark (233 chars)

   Updated duplex on a quiet side street with updates throughout. New roof, plumbing and electric, mechanicals, windows and flooring, separate utilities as well as laundry facilities in each unit. Ideal for investors or owner-occupied.

10. 2015-03-19
    historical
11. 2014-08-29
    listed $40,000
12. 2008-06-16
    historical
13. 2008-01-15
    listed $27,900
14. 2005-11-29
    soldstatus $27,000
15. 2005-11-28
    soldstatus $27,000
16. 2005-08-03
    listed $29,900
17. 1993-11-22
    soldstatus $34,500

ⓘ 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: $2,903 · $242/mo
• Projected year-2 tax: $2,903 · $242/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $27,072
• − Mortgage interest: −$4,140
• − Property taxes: −$2,903
• − Insurance: −$370
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − Depreciation: −$2,150
• Taxable income: $13,179
• Est. tax owed @ 24.0%: −$3,163
• After-tax cash flow: $10,301/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: Elmira City School District
• NCES district ID: 3610560
• Math proficiency: 23% ▼ -7.00%
• Reading proficiency: 35% ▲ 7.00%
• Median HH income: $40,180
• Composite: 24.39/100
• National rank: #7688
• State rank: #580 of 590 in NY

Livability — Elmira

• Score: 62/100
• State rank: #832
• US rank: #16139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmira, NY
• City population: 14,276
• Population (ZIP): 14,430

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 (70%)
• Race & ethnicity: White 70% Black 15% Two or more races 7% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Chinese 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: ▲ 32.34%
• Current HPI: 236.2674
• 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

+114.2% since first listed

17 events — show timeline

• 2026-03-22 Pending — UNYREIS
• 2026-03-09 Listed $73,900 UNYREIS
• 2025-12-17 Rental Removed $950 UNYREIS
• 2025-10-22 Listed for Rent $950 UNYREIS
• 2025-08-14 Rental Removed $1,000 UNYREIS
• 2025-07-11 Listed for Rent $1,000 UNYREIS
• 2021-10-26 Sold (Public Records) $53,900 Public Records
• 2021-10-18 Sold (MLS) $53,900 UNYREIS
• 2021-07-10 Listed $59,900 UNYREIS
• 2015-03-19 Listing Removed — UNYREIS
• 2014-08-29 Listed $40,000 UNYREIS
• 2008-06-16 Listing Removed — UNYREIS
• 2008-01-15 Listed $27,900 UNYREIS
• 2005-11-29 Sold (MLS) $27,000 UNYREIS
• 2005-11-28 Sold (Public Records) $27,000 Public Records
• 2005-08-03 Listed $29,900 UNYREIS
• 1993-11-22 Sold (Public Records) $34,500 Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,903 · -10.3% YoY. Source: county tax records.