224 E 3rd StCorningNY14830
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Corning at 224 E 3rd St, Corning, NY, 14830 priced at $159,900 pairs $1,603/mo rent with $535/mo cash flow after a $783/mo payment. Total monthly income equals $1,603/mo, and annual cash flow comes to $6,418/yr on $53,007 invested. Return on cash invested is 32.02% in year one, and rental yield stands at 12.03% on a $159,900 basis. Equity gained on principal adds $1,032/yr, and 5% annual appreciation accumulates to $44,177 by year five. Five-year ROI measures 168.4% and total cumulative return in cash reaches $89,262. For financing, Ziffy Mortgage’s DSCR program evaluates $1,603/mo property income against a $783/mo payment instead of your W2s, 1099s, or Tax returns.
Multi Family
Built in 1900
5,580 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 14830, Corning, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,530 (100%) |
| Owner Occupied HU | 5,416 (56.8%) |
| Renter Occupied HU | 3,111 (32.6%) |
| Vacant Housing Units | 1,003 (10.5%) |
| Median Home Value | $195,235 |
| Average Home Value | $226,330 |
Housing Distribution
Address Breakdown
Residential
8,713
Single Family
8,188
Multi-Family
525
Businesses
669
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