27 Franklin St · Gloversville, NY 12078

$80,000

3 bd · 1.5 ba · 800 sqft · SingleFamily public records · 29 Days on market

Built 1949 5,662 sqft lot Est $101k · 21% under

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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 +27.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.5/10.0
• 1% rule +7.4/10.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

SIMPLE LIVING in this one floor 3 bedroom, 1 ½ bath home on a nice sized lot. One car garage w/ large storage room. Large eat in kitchen, newer furnaceand mstr bedroom with ½ bath. Low maintenance and buy for the price of rent. Very Good Condition

Key facts

• Ample parking
• Major routes
• Spacious lot

Tags

• SPACIOUS LOT
• AMPLE PARKING
• ADDITIONAL OUTBUILDINGS
• LOCAL AMENITIES
• SHOPPING
• MAJOR ROUTES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.

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: 172 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($553 loan paydown + $8k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $80k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.26%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $100,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Wooster St	0.62mi	2/1.0 (-1)	708 (-12%)	6mo	$89,000	$126	40

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: 33.3%
• Equity multiple: 3.60×
• Total profit: $58,168
• Equity at exit: $72,070

10-year hold

• IRR: 28.7%
• Equity multiple: 8.14×
• Total profit: $159,863
• Equity at exit: $155,422

Cash invested: $22,400 (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: 172
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $995 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$104 /mo · $1,251/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $229

Break-even live

Break-even rent $705

Max offer price $80,000

Occupancy floor 72%

Sensitivity live

Price	-10% $274	-5% $252	+0% $229	+5% $206	+10% $184
Rent	-10% $150	-5% $190	+0% $229	+5% $268	+10% $308
Rate	-1.0pp $269	-0.5pp $249	base $229	+0.5pp $208	+1.0pp $187

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Fruit St Unit 2 Gloversville, NY	2.0	1.0	850	$995	$1.17	44d	1	1.10mi

Listing history 8 events

1. 2026-04-28
   status Pending
2. 2026-04-22
   price $80,000
3. 2026-03-30
   listed $99,900 Active
4. 2013-04-26
   soldstatus $53,000 261-char remark

   Show marketing remark (261 chars)

   SIMPLE LIVING in this one floor 3 bedroom, 1 ½ bath home on a nice sized lot. One car garage w/ large storage room. Large eat in kitchen, newer furnaceand mstr bedroom with ½ bath. Low maintenance and buy for the price of rent. Very Good Condition

5. 2013-04-22
   soldstatus $53,000
6. 2013-03-06
   historical 261-char remark

   Show marketing remark (261 chars)

   SIMPLE LIVING in this one floor 3 bedroom, 1 ½ bath home on a nice sized lot. One car garage w/ large storage room. Large eat in kitchen, newer furnaceand mstr bedroom with ½ bath. Low maintenance and buy for the price of rent. Very Good Condition

7. 2012-07-30
   listed $56,300 261-char remark

   Show marketing remark (261 chars)

   SIMPLE LIVING in this one floor 3 bedroom, 1 ½ bath home on a nice sized lot. One car garage w/ large storage room. Large eat in kitchen, newer furnaceand mstr bedroom with ½ bath. Low maintenance and buy for the price of rent. Very Good Condition

8. 2007-02-28
   soldstatus $63,000

ⓘ 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: $1,251 · $104/mo
• Projected year-2 tax: $1,302 · $108/mo
• Expected delta: +$50/yr (+$4/mo · 4.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $11,940
• − Mortgage interest: −$4,481
• − Property taxes: −$1,251
• − Insurance: −$400
• − Repairs & maintenance: −$955
• − Management: −$955
• − Depreciation: −$2,327
• Taxable income: $1,570
• Est. tax owed @ 24.0%: −$377
• After-tax cash flow: $2,370/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

+27.0% since first listed

8 events — show timeline

• 2026-04-28 Pending — Global MLS
• 2026-04-22 Price Changed $80,000 Global MLS
• 2026-03-30 Listed $99,900 Global MLS
• 2013-04-26 Sold (MLS) $53,000 Global MLS
• 2013-04-22 Sold (Public Records) $53,000 Public Records
• 2013-03-06 Listing Removed — Global MLS
• 2012-07-30 Listed $56,300 Global MLS
• 2007-02-28 Sold (Public Records) $63,000 Public Records

Property tax history

-2.0%/yr

Latest (2025): $1,251 · +12.0% YoY. Source: county tax records.