Real Estate Investing in Elmira, New York (14904)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 14904 (Elmira, NY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 15.0% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Elmira, NY (14904)?
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Market Analysis: 14904 Elmira
Homes in the 14904 ZIP trade near $109K, a discount that has historically rewarded investors willing to renovate. Rent comps near $1,138/mo support the pro forma.
BRRRR works in 14904 because the math supports it. Buy at $109K, rehab, and the refinance step typically recovers capital in a way that flat-yield markets cannot match.
Across Elmira, pockets like 14904 represent the last affordable rungs of a rising ladder. The state-level data shows those rungs thinning.
The a viable market for angle on demographics here is renter willingness to pay a premium for renovated product. The 39% rental share provides scale for the strategy.
Flippers with local expertise can do well in 14904. Out-of-state investors should partner with boots-on-the-ground operators or skip the ZIP entirely.
Here's what matters if you're considering buying a home in Elmira:
Property Strategy for 14904
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $89,991 | $1,260 | 10.1% | +7.5% | $44,996 |
| 3BR | $99,958 | $1,580 | 11.4% | +7.1% | $33,319 |
| 4BR | $105,054 | $1,680 | 11.5% | +7.0% | $26,263 |
| 5BR | $88,540 | — | — | +3.3% | $17,708 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 14904 Compare?
| Metric | 14904 | Elmira | Elmira, NY | New York |
|---|---|---|---|---|
| Home Value | $109,017 | $115,777 | N/A | $505,608 |
| 5-Year CAGR | 6.7% | 5.9% | N/A | 6.6% |
| Avg Rent | $1,138 | $1,191 | N/A | - |
| Cap Rate | 8.1% | 6.8% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 14904 (Elmira, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $109,017 |
| Monthly Rent | $1,138 |
| Price-to-Rent | 8.0:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 12.5% |
| Cap Rate | 8.1% |
| 5-Year IRR | 14.9% |
📈 Home Appreciation
| 1-Year | +12.4% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (8.1%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 14904
Population: 14,276
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 14904
Schools in This ZIP Code
Nearby Schools (2 more)
Schools in adjacent ZIP codes that may serve this area
ERNIE DAVIS ACADEMY
HENDY AVENUE SCHOOL
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,084 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Elmira, NY?
The median home value in Elmira, NY is roughly $109K. That puts it reasonable relative to the NY statewide average.
Is Elmira, NY good for house hacking?
Elmira, NY is a an attractive market for house hackers. FHA or conventional owner-occupant buyers find the $109K price point reasonable to enter.
What do landlords charge for rent in Elmira, NY?
Investors in Elmira, NY typically see rents near $1,138/mo per month against $109K home values - a solid setup for rental cash flow.
Which real estate strategy fits Elmira, NY?
For Elmira, NY, value-add and BRRRR deals is the standard investor playbook. The market structure makes it a reasonable default approach.
Does BRRRR pencil out in Elmira, NY?
BRRRR viability in Elmira, NY is a strong. Disciplined acquisition and rehab can hit the 75% LTV refinance target at market comps.
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