24 Elmwood Ave · Gloversville, NY 12078

$130,000

3 bd · 1.5 ba · 1,462 sqft · SingleFamily public records · 37 Days on market

Built 1880 0.25 ac lot $89/sqft · 33% below area Est $194k · 33% under

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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 +25.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• 1% rule +7.7/10.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great potential in this 3 bed, 1.5 bath brick home. The layout uses the square footage very well; all rooms are a good size. Lots of natural light. Close to stores and shopping. Home is sold As-is.

Key facts

• 0.25 acre lot
• Garage
• Built 1880

Property features AI

Exterior

• Parking: One garage space; Two parking spaces total; Paved parking
• Utilities: Public water; Septic sewer
• Home design: Single-family residence; Fixer condition
• Construction: Brick construction; Stone foundation; Asphalt roof; Built area approximately 1,462
• Exterior features: Side porch; Driveway is paved; Level, cleared lot

Interior

• Kitchen: Oven
• Bedrooms: Three bedrooms on the second floor
• Flooring: Vinyl; Hardwood; Laminate
• Bathrooms: One full bathroom on the first floor; One half bathroom on the second floor
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Total of 8 rooms; Double-pane windows
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% 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: 165 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 $14k of equity ($899 loan paydown + $13k 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 $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $130k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.27% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.87%
• DSCR: 1.44
• GRM: 6.6

CMA / ARV

• ARV (median comp): $194,467
• List price: $130,000
• Delta: -33.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 N Hollywood Ave	0.21mi	2/1.5 (-1)	1,460 (-0%)	2mo	$232,500	$159	84
30 Saratoga Blvd	0.39mi	3/1.5	1,472 (+1%)	1mo	$200,000	$136	80
2 East Blvd	0.26mi	4/1.5 (+1)	1,450 (-1%)	3mo	$220,000	$152	79
96 6th Ave	0.64mi	3/1.0	1,425 (-2%)	2mo	$179,500	$126	62
12 Monroe St	0.46mi	3/2.5	1,528 (+4%)	8mo	$170,000	$111	60
119 5th Ave	0.62mi	3/1.0	1,350 (-8%)	1mo	$146,260	$108	56
35 Spruce St	0.46mi	2/2.0 (-1)	1,556 (+6%)	6mo	$175,000	$112	55
20 North Blvd	0.68mi	2/2.0 (-1)	1,458 (-0%)	7mo	$199,900	$137	55
124 East Blvd	0.44mi	4/2.5 (+1)	1,354 (-7%)	5mo	$165,000	$122	54
139 5th Ave	0.54mi	3/1.0	1,332 (-9%)	5mo	$105,000	$79	54
143 5th Ave	0.53mi	3/1.0	1,623 (+11%)	6mo	$145,000	$89	50
49 North Blvd	0.63mi	3/1.5	1,653 (+13%)	9mo	$159,900	$97	41

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: 31.5%
• Equity multiple: 3.47×
• Total profit: $89,951
• Equity at exit: $117,114

10-year hold

• IRR: 27.3%
• Equity multiple: 7.87×
• Total profit: $250,082
• Equity at exit: $252,561

Cash invested: $36,400 (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: 165
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$268 /mo · $3,220/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $299

Break-even live

Break-even rent $1,271

Max offer price $130,000

Occupancy floor 77%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Fremont St Gloversville, NY	2.0–3.0	1.5–2.0	1612	$1,650	$1.02	43d	3	1.02mi

Listing history 17 events

1. 2026-06-18
   days on market $130,000 Active 37 DOM
2. 2026-06-17
   days on market $130,000 Active 36 DOM
3. 2026-06-16
   days on market $130,000 Active 35 DOM
4. 2026-06-15
   days on market $130,000 Active 34 DOM
5. 2026-06-13
   days on market $130,000 Active 32 DOM
6. 2026-06-12
   days on market $130,000 Active 31 DOM
7. 2026-06-09
   days on market $130,000 Active 28 DOM
8. 2026-06-08
   days on market $130,000 Active 27 DOM
9. 2026-06-07
   days on market $130,000 Active 26 DOM
10. 2026-06-07
    days on market $130,000 Active 25 DOM
11. 2026-06-04
    days on market $130,000 Active 22 DOM
12. 2026-06-02
    days on market $130,000 Active 21 DOM
13. 2026-06-01
    days on market $130,000 Active 20 DOM
14. 2026-05-31
    days on market $130,000 Active 19 DOM
15. 2026-05-12
    listed $130,000 Active 197-char remark
16. 2006-08-22
    soldstatus $70,000
17. 1994-08-09
    soldstatus $32,000

ⓘ 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: $3,220 · $268/mo
• Projected year-2 tax: $3,220 · $268/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $19,800
• − Mortgage interest: −$7,282
• − Property taxes: −$3,220
• − Insurance: −$650
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$3,782
• Taxable income: $1,698
• Est. tax owed @ 24.0%: −$408
• After-tax cash flow: $3,184/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

• 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

+306.2% since first listed

3 events — show timeline

• 2026-05-12 Listed $130,000 Global MLS
• 2006-08-22 Sold (Public Records) $70,000 Public Records
• 1994-08-09 Sold (Public Records) $32,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $3,220 · -0.2% YoY. Source: county tax records.