190 Ridge St · Glens Falls, NY 12801

$2,290,000

612 bd · 1156.0 ba · 8,997 sqft · MultiFamily public records · 18 Days on market

Built 1897 2.23 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 34 units. confirmed

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

Income-producing 34-unit multifamily assemblage spanning four buildings on approximately 2.23 acres in the City of Glens Falls. Four well-located properties -- 195 Ridge St. , 190 Ridge St. , 45 William St. , and 8 Lawton Ave. -- combine for a unit mix of 5 two-bedroom, 14 one-bedroom, and 15 studio apartments. Low vacancy and a stable rent roll drive consistent monthly cash flow, with ample on-site parking across all four buildings. Concentrated ownership in a single market makes this a manageable, scalable hold, with room to grow income through rent and operational improvements. Full financials provided to qualified buyers upon request. Schedule a private tour through the listing agent.

Key facts

• Unit mix
• Four buildings
• Low vacancy

Tags

• MULTIFAMILY ASSEMBLAGE
• FOUR BUILDINGS
• APPROXIMATELY 2.23 ACRES
• AMPLE ON SITE PARKING
• UNIT MIX
• LOW VACANCY

Property features AI

Finance

• Other: Living area reported as 20,866 (value provided by listing)
• Financial info: Multi-family asset with 34 total units; Tenants are responsible for hot water, cable TV and electricity

Exterior

• Parking: 28 total parking spaces; Off-street paved parking
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Multi-family property
• Construction: Stone, cedar, plaster and wood siding construction; Slate and asphalt shingle roof; Basement with exterior entry, full unfinished space and walk-out access
• Exterior features: Front, side, rear and covered porches; Porches include a front porch and rear porch; Barn(s) on the property; Level, landscaped corner lot with road frontage; Approximately 2.23-acre lot

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Multiple unit bedroom counts: units of various sizes (examples: units with 9, 17, 4, and 8 bedrooms)
• Flooring: Carpet; Hardwood
• Bathrooms: Multiple full bathrooms across units (total 34 full baths); Full baths located on first, second, and third levels depending on unit
• Heating & cooling: Baseboard heating; Hot water heating; Zoned heating; Natural gas heating; Window air conditioning units
• Interior features: Built-in features; Fireplace
• Laundry & utility: No specific laundry appliance details provided; Tenants pay for hot water

What this means for you Summary

Snapshot

• This is a 34 × 18-bed/34.0-bath units multifamily listed at $2.29M.

Deal economics

• At list price, monthly cash flow is $36k ($433k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($64k rent vs $2.29M).
• Recommended offer: $2.26M (1.5% below list) — sets the bar for market timing.
• Cap rate 25.2% vs local median 4.8% in Glens Falls — 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 83/100 on livability (#60 in NY, #894 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+.
• Glens Falls City School District (urban): math 44% / reading 53% proficiency, ranked #416 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glens Falls Senior High School (math 98% / reading 64%, grade A, #485 of 1,100 statewide, top 45%, 601 students, 41% FRL).
• Zoned-school proficiency averages 81% at this address vs 48% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Glens Falls City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 56 active listings in the ZIP; 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $16k of loan paydown is wiped out by about $69k of value loss. Plan a longer hold.
• Warren County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $641k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($2.26M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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 $1.69M; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,255,650 (1.5% below list)

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 1897 — 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. 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.
6. 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.
7. 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: 2.78% ✓
• Cap rate: 25.20%
• Cash-on-cash: 67.51%
• DSCR: 4.00
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 66.9%
• Equity multiple: 4.00×
• Total profit: $1,926,338
• Equity at exit: $341,446

10-year hold

• IRR: 71.1%
• Equity multiple: 8.23×
• Total profit: $4,635,578
• Equity at exit: $197,997

Cash invested: $641,200 (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 12801

• Home prices YoY: -13.7%
• Active inventory: 56
• Price-to-rent: 102.0×

Monthly cashflow live

• Estimated rent: $63,617 medium
• Mortgage (P&I): −$12,009
• Tax from tax record: −$1,222 /mo · $14,663/yr
• Insurance: −$954
• HOA: −$0
• Vacancy / Maint / Mgmt: −$13,360
• Net cashflow: $36,072

Break-even live

Break-even rent $17,956

Max offer price $2,290,000

Occupancy floor 38%

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

Units	Beds	Baths	Est. rent
▸ 34× units	18	34	$63,614
Total (34 units)			$63,617

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: $572,500
• Closing costs: $68,700
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $2,290,000 Active 18 DOM
2. 2026-06-18
   days on market $2,290,000 Active 17 DOM
3. 2026-06-17
   days on market $2,290,000 Active 16 DOM
4. 2026-06-16
   days on market $2,290,000 Active 15 DOM
5. 2026-06-15
   days on market $2,290,000 Active 14 DOM
6. 2026-06-14
   days on market $2,290,000 Active 12 DOM
7. 2026-06-12
   days on market $2,290,000 Active 11 DOM
8. 2026-06-09
   days on market $2,290,000 Active 8 DOM
9. 2026-06-08
   days on market $2,290,000 Active 7 DOM
10. 2026-06-07
    days on market $2,290,000 Active 6 DOM
11. 2026-06-04
    days on market $2,290,000 Active 2 DOM
12. 2026-06-02
    remarks 697-char remark
13. 2026-06-02
    listed $2,290,000 Active 1 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: $14,663 · $1,222/mo
• Projected year-2 tax: $26,682 · $2,224/mo
• Expected delta: +$12,019/yr (+$1,002/mo · 82.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°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: $763,404
• − Mortgage interest: −$128,276
• − Property taxes: −$14,663
• − Insurance: −$11,450
• − Repairs & maintenance: −$61,072
• − Management: −$61,072
• − Depreciation: −$66,618
• Taxable income: $420,252
• Est. tax owed @ 24.0%: −$100,861
• After-tax cash flow: $332,007/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: Glens Falls City School District
• NCES district ID: 3612240
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 53% ▲ 6.00%
• Median HH income: $48,216
• Composite: 41.34/100
• National rank: #3499
• State rank: #416 of 590 in NY

Livability — Glens Falls

• Score: 83/100
• State rank: #60
• US rank: #894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glens Falls, NY
• County: Warren County · 14,628 people
• City population: 14,628
• Metro: Glens Falls, NY
• Population (ZIP): 14,628
• Household income: $67,577
• Rent vs Own: 47.6% rent · 52.4% own
• Severe rent burden: 866.0

Population outlook (Warren County) Hauer SSP2

• Today (2025): 62,372 people
• By 2030: 60,491 · -3.0%
• By 2040: 55,616 · -10.8%
• By 2050: 50,437 · -19.1%
• By 2075: 40,843 · -34.5%
• By 2100: 31,159 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 9% Romanian 5% Slovak 5%
• Foreign-born: 3% · Canada, Dominican Republic
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Warren

• 2024 margin: Toss-up / Even · D 47.9% · R 52.1%
• 2008→2024 swing: -6.9pp toward R · 2008: 2.6pp · 2024: -4.2pp
• All cycles: 2024: R+4.2 2020: R+0.2 2016: R+10.6 2012: D+2.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.28%
• Current HPI: 330.581
• Rent YoY: —
• Metro: Glens Falls, NY
• 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

+27.6% since first listed

16 events — show timeline

• 2026-06-01 Price Changed $2,290,000 Global MLS
• 2026-06-01 Listed $2,229,000 Global MLS
• 2026-05-15 Listing Removed — Global MLS
• 2026-05-08 Listed $2,290,000 Global MLS
• 2023-05-18 Pending — Global MLS
• 2023-05-12 Listing Removed — Global MLS
• 2023-03-08 Listing Removed — Global MLS
• 2023-03-08 Listed $2,350,000 Global MLS
• 2023-01-10 Price Changed $1,075,000 Global MLS
• 2022-11-11 Listing Removed — Global MLS
• 2022-11-11 Listed $1,100,000 Global MLS
• 2022-05-09 Listed $2,399,000 Global MLS
• 2022-01-26 Listing Removed — Global MLS
• 2021-07-08 Listed $2,600,000 Global MLS
• 2018-01-30 Sold (MLS) $1,690,000 Global MLS
• 2017-09-04 Listed $1,795,000 Global MLS

Property tax history

+12.6%/yr

Latest (2025): $14,663 · +1.0% YoY. Source: county tax records.