Real Estate Investing in Elmira, New York (14905)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 14905 (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 middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.3% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Elmira, NY (14905)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 14905 Elmira
ZIP 14905 in Elmira, NY carries a robust set of headwinds. Home values near $186K and rents of $1,233/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $186K asset, 14905 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within NY, ZIP 14905 trails on several market indicators that neighboring Chemung County submarkets outperform. The gap is real and healthy enough to shape underwriting.
Turning to rents, 8,976 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 14905 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Elmira:
Property Strategy for 14905
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $128,243 | $1,370 | 7.7% | +8.2% | $64,122 |
| 3BR | $164,707 | $1,710 | 7.5% | +6.9% | $54,902 |
| 4BR | $200,663 | $1,830 | 6.6% | +6.2% | $50,166 |
| 5BR | $243,640 | — | — | +5.6% | $48,728 |
Market Trends
Home Value History (with trend line)
📊 How Does 14905 Compare?
| Metric | 14905 | Elmira | Elmira, NY | New York |
|---|---|---|---|---|
| Home Value | $185,540 | $115,777 | N/A | $505,608 |
| 5-Year CAGR | 6.6% | 5.9% | N/A | 6.6% |
| Avg Rent | $1,233 | $1,191 | N/A | - |
| Cap Rate | 5.2% | 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 14905 (Elmira, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $185,540 |
| Monthly Rent | $1,233 |
| Price-to-Rent | 12.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.0% |
| Cap Rate | 5.2% |
| 5-Year IRR | 11.8% |
📈 Home Appreciation
| 1-Year | +11.5% ▲ |
| 3-Year CAGR | +6.4% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 14905
Population: 8,976
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 14905
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
BROADWAY ACADEMY
PARLEY COBURN SCHOOL
BROADWAY ELEMENTARY SCHOOL
RIVERSIDE ELEMENTARY
ELMIRA HIGH 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
Does Elmira, NY make sense for an investment property?
Yes - Elmira, NY a 3.0/5 investability score. With $186K home prices against $1,233/mo monthly rent, the market delivers a reasonable entry point for new investors.
Do rentals sit vacant long in Elmira, NY?
Elmira, NY vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is it easy to find good tenants in Elmira, NY?
Elmira, NY offers a predictable renter base at the $1,233/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is Elmira, NY a good market for FHA house hackers?
The house hack math a challenging in Elmira, NY. Owner-occupant buyers benefit from the $1,233/mo rents and $186K home values.
How strong are rents in Elmira, NY?
Expect rents around $1,233/mo per month in Elmira, NY. With home values at $186K, the yield math works out to reasonable levels for rental investors.
You know 14905 now. You don’t know where it ranks.
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