21 North St · Gloversville, NY 12078

$100,000

None bd · None ba · 4,650 sqft · MultiFamily public records · 8 Days on market

Built 1930 0.31 ac lot

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Why this score? — see what drove the C- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Investment opportunity with built-in flexibility! This four-family property at 21 North Street offers significant upside potential and is currently undergoing renovations. The building has been substantially gutted, providing a clean slate for improvements and allowing buyers to tailor the project to their investment goals. The owner is actively completing renovations and is willing to consider offers at varying price points, with the option to complete agreed-upon work prior to closing based on contract terms. Whether you're looking to expand your rental portfolio, create value through improvements, or secure a multi-unit property with customization options, this property presents a unique

Key facts

• Substantially gutted
• Four-family property
• Multi-unit property

Tags

• FOUR-FAMILY PROPERTY
• SUBSTANTIALLY GUTTED
• CLEAN SLATE FOR IMPROVEMENTS
• MULTI-UNIT PROPERTY
• CUSTOMIZATION OPTIONS
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Annual property tax approximately $1,514

Exterior

• Parking: Detached or attached garage plus driveway and off-street parking; Two garage spaces; Space for up to ten total vehicles
• Utilities: Public water; Public sewer
• Home design: Quadruplex; Multi-story building
• Construction: Vinyl siding
• Exterior features: Corner lot; Lot approximately 0.31 acres

Interior

• Interior features: Full basement; Four total residential units

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $773/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $100k).
• Cap rate 43.4% vs local median 8.7% in Gloversville — 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 82/100 on livability (#70 in NY, #1,048 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment F.
• Gloversville City School District (town): math 26% / reading 42% proficiency, ranked #565 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gloversville High School (math 82% / reading 77%, grade A-, #518 of 1,100 statewide, top 51%, 697 students, 71% FRL) — zoned schools average 71% FRL vs 54% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 80% at this address vs 34% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Gloversville City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 165 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Fulton County population projected at -23% 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 $28k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 14y 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 $62k; list at $100k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 4.73% ✓
• Cap rate: 43.38%
• Cash-on-cash: 132.45%
• DSCR: 6.89
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $223,200
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Broadway	0.48mi	4/2.0	5,037 (+8%)	2mo	$240,000	$48	62
108 Washington St	0.51mi	8/6.0	4,752 (+2%)	23mo	$180,000	$38	54

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: —
• Equity multiple: 9.98×
• Total profit: $251,341
• Equity at exit: $90,088

10-year hold

• IRR: —
• Equity multiple: 21.91×
• Total profit: $585,457
• Equity at exit: $194,278

Cash invested: $28,000 (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 12078

• Home prices YoY: 12.2%
• Active inventory: 165
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $4,731 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$81 /mo · $971/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$994
• Net cashflow: $3,090

Break-even live

Break-even rent $819

Max offer price $100,000

Occupancy floor 30%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$4,732
Total (4 units)			$4,731

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $100,000 Active 8 DOM
2. 2026-06-17
   days on market $100,000 Active 7 DOM
3. 2026-06-16
   days on market $100,000 Active 6 DOM
4. 2026-06-15
   days on market $100,000 Active 5 DOM
5. 2026-06-13
   days on market $100,000 Active 3 DOM
6. 2026-06-12
   remarks 699-char remark
7. 2026-06-12
   listed $100,000 Active 2 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: $971 · $81/mo
• Projected year-2 tax: $1,331 · $111/mo
• Expected delta: +$359/yr (+$30/mo · 37.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $56,772
• − Mortgage interest: −$5,602
• − Property taxes: −$971
• − Insurance: −$500
• − Repairs & maintenance: −$4,542
• − Management: −$4,542
• − Depreciation: −$2,909
• Taxable income: $37,707
• Est. tax owed @ 24.0%: −$9,050
• After-tax cash flow: $28,036/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: Gloversville City School District
• NCES district ID: 3612270
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 42% ▲ 7.00%
• Median HH income: $36,775
• Composite: 28.2/100
• National rank: #6806
• State rank: #565 of 590 in NY

Livability — Gloversville

• Score: 82/100
• State rank: #70
• US rank: #1048

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gloversville, NY
• Population (ZIP): 23,087

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 51,132 people
• By 2030: 49,114 · -3.9%
• By 2040: 44,373 · -13.2%
• By 2050: 39,321 · -23.1%
• By 2075: 28,503 · -44.3%
• By 2100: 19,268 · -62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 5% Black 2% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 5% Romanian 4% Iranian 4%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+35.9) · D 32.1% · R 67.9%
• 2008→2024 swing: -26.6pp toward R · 2008: -9.2pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.4 2016: R+35.5 2012: R+10.5 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 34.22%
• Current HPI: 315.1368
• 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

+88.7% since first listed

16 events — show timeline

• 2026-06-08 Listed $100,000 Global MLS
• 2025-09-03 Listing Removed — Global MLS
• 2025-08-25 Listing Removed — Global MLS
• 2025-08-25 Listed $75,000 Global MLS
• 2025-05-12 Listed $75,000 Global MLS
• 2024-10-17 Listing Removed — Global MLS
• 2024-04-16 Listed $75,000 Global MLS
• 2014-08-13 Sold (Public Records) $62,000 Public Records
• 2014-08-13 Sold (MLS) $62,000 Global MLS
• 2014-04-02 Listing Removed — Global MLS
• 2013-10-22 Listed $72,500 Global MLS
• 2013-10-05 Listing Removed — Global MLS
• 2012-10-01 Listed $75,000 Global MLS
• 2007-03-09 Sold (Public Records) $61,800 Public Records
• 2004-07-09 Sold (Public Records) $57,750 Public Records
• 2001-06-21 Sold (Public Records) $53,000 Public Records

Property tax history

-5.9%/yr

Latest (2025): $971 · +5.4% YoY. Source: county tax records.