None · Glens Falls, NY 12801

$169,000

9 bd · 5.4 ba · 4,437 sqft · MultiFamily · 2 Days on market

Built 1965 Poor condition 7,840 sqft 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 +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 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 in prime location. This multi unit offers 4 residentail units and 2 commercial spaces. While the property requires some TLC, it offers a great oppertunity for invester to capilize on its potentail.

Key facts

• Prime location
• Multi unit
• 7,840 sq ft lot

Tags

• PRIME LOCATION
• MULTI UNIT
• INVESTMENT OPPORTUNITY

Property features AI

Finance

• Financial info: Property configured as a 6-unit income property; tenants are responsible for electricity and gas

Exterior

• Parking: Attached/associated garage space for 4 vehicles; Total parking for 5 vehicles; Paved parking
• Utilities: Public water; Public sewer
• Home design: Multi-family property
• Construction: Vinyl siding and wood siding exterior; Block foundation; Composition roof
• Exterior features: Front porch; Additional exterior structures: garages; Road frontage

Interior

• Bedrooms: Six rental units totaling: one 1-bedroom unit (Unit 1), one 3-bedroom unit (Unit 2), one 3-bedroom unit (Unit 5), one 3-bedroom unit (Unit 6), plus smaller units (Unit 3 and Unit 4)
• Flooring: Tile; Wood; Carpet
• Bathrooms: Five full bathrooms and one half bathroom (total 6)
• Heating & cooling: Natural gas heating
• Interior features: Paddle fan; Full basement
• Laundry & utility: Tenants pay electricity and gas

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $169k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $4k ($42k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $169k).
• Cap rate 31.3% 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: Jackson Heights School (math 42% / reading 57%, grade D, #1,085 of 2,108 statewide, top 56%, 251 students, 65% FRL); Glens Falls Senior High School (math 98% / reading 64%, grade A, #485 of 1,100 statewide, top 45%, 601 students, 41% FRL) — zoned schools average 53% FRL vs 35% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 65% at this address vs 48% district-wide (+17 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).
• At $5,931/mo this rent would consume 105% of the median local household income ($68k/yr) (locally 866% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $47k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $169,000

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.51% ✓
• Cap rate: 31.27%
• Cash-on-cash: 89.20%
• DSCR: 4.97
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $559,062
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Chester St	0.22mi	10/5.0 (+1)	4,615 (+4%)	15mo	$552,500	$120	64
492 Glen St	0.31mi	8/3.5 (-1)	3,964 (-11%)	22mo	$498,000	$126	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 89.8%
• Equity multiple: 5.16×
• Total profit: $196,740
• Equity at exit: $25,198

10-year hold

• IRR: 92.8%
• Equity multiple: 10.72×
• Total profit: $460,163
• Equity at exit: $14,612

Cash invested: $47,320 (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: 7.1×

Monthly cashflow live

• Estimated rent: $5,931 medium
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,246
• Net cashflow: $3,518

Break-even live

Break-even rent $1,478

Max offer price $169,000

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,931
Total (3 units)			$5,931

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-07
   statusdays on market $169,000 Pending 2 DOM
2. 2026-06-03
   remarks 220-char remark
3. 2026-06-03
   listed $169,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $71,172
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$5,694
• − Management: −$5,694
• − Depreciation: −$4,916
• Taxable income: $42,021
• Est. tax owed @ 24.0%: −$10,085
• After-tax cash flow: $32,126/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.

Condition & rehab AI · 9 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and structural work to restore it to a livable condition. Significant investment is needed to address the structural issues, exterior damage, and interior disrepair.

Repairs flagged

• Major Exterior siding — Severe damage and peeling
• Major Interior structural repairs — Exposed beams and subflooring
• Major Roof repairs — Exposed structural issues
• Major HVAC system — Exposed ductwork and debris
• Major Landscaping — Overgrown vegetation and debris

Value-add opportunities

• Both Exterior repairs and landscaping — Improves curb appeal and property value
• Both Interior structural repairs and HVAC replacement — Restores functionality and safety
• Both Painting and interior repairs — Enhances aesthetics and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Severe damage and peeling	Major	$15,000–50,000
Interior structural repairs · Exposed beams and subflooring	Major	$15,000–50,000
Roof repairs · Exposed structural issues	Major	$15,000–50,000
HVAC system · Exposed ductwork and debris	Major	$15,000–50,000
Landscaping · Overgrown vegetation and debris	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Exterior repairs and landscaping — Improves curb appeal and property value ↑
• Both Interior structural repairs and HVAC replacement — Restores functionality and safety ↑
• Both Painting and interior repairs — Enhances aesthetics and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-02 Listed $169,000 Global MLS