6 Alexander St · Gloversville, NY 12078

$129,900

4 bd · 2.0 ba · 1,174 sqft · MultiFamily public records · 115 Days on market

Built 1920 5,227 sqft lot $111/sqft · 20% below area Est $162k · 20% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Well-maintained duplex offering a great opportunity for owner-occupants or investors alike. The first-floor unit features a spacious two-bedroom layout, while the second-floor unit offers a comfortable one-bedroom apartment. Each unit includes its own washer and dryer hookups for added convenience. Enjoy a nice, quiet backyard—perfect for relaxing or outdoor enjoyment—along with off-street parking. Ideally located close to shopping, schools, bus routes, and other everyday amenities. A solid property in a convenient location—don't miss this one!

Key facts

• Close to schools
• Close to bus routes
• Quiet backyard

Tags

• WASHER AND DRYER HOOKUPS
• QUIET BACKYARD
• OFF-STREET PARKING
• CLOSE TO SHOPPING
• CLOSE TO SCHOOLS
• CLOSE TO BUS ROUTES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $919 ($11k/yr) — positive. Per door: $459/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: schools D, 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.
• 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 ($898 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 115 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $51k; list at $130k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.72% ✓
• Cap rate: 14.78%
• Cash-on-cash: 30.31%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

• ARV (median comp): $162,230
• List price: $129,900
• Delta: -19.93%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.3%
• Equity multiple: 4.55×
• Total profit: $129,254
• Equity at exit: $117,024

10-year hold

• IRR: 41.2%
• Equity multiple: 10.20×
• Total profit: $334,621
• Equity at exit: $252,367

Cash invested: $36,372 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,228 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$106 /mo · $1,274/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $919

Break-even live

Break-even rent $1,065

Max offer price $129,900

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,228
Total (2 units)			$2,228

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: $32,475
• Closing costs: $3,897
• 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	0.59mi

Listing history 28 events

1. 2026-06-18
   days on market $129,900 Active 115 DOM
2. 2026-06-17
   days on market $129,900 Active 114 DOM
3. 2026-06-16
   days on market $129,900 Active 113 DOM
4. 2026-06-15
   days on market $129,900 Active 112 DOM
5. 2026-06-13
   days on market $129,900 Active 110 DOM
6. 2026-06-12
   pricedays on market $129,900 Active 109 DOM
7. 2026-06-09
   days on market $148,500 Active 106 DOM
8. 2026-06-08
   days on market $148,500 Active 105 DOM
9. 2026-06-07
   days on market $148,500 Active 104 DOM
10. 2026-06-07
    days on market $148,500 Active 103 DOM
11. 2026-06-04
    days on market $148,500 Active 100 DOM
12. 2026-06-02
    days on market $148,500 Active 99 DOM
13. 2026-06-01
    days on market $148,500 Active 98 DOM
14. 2026-05-31
    days on market $148,500 Active 97 DOM
15. 2026-04-12
    status Active 568-char remark

    Show marketing remark (568 chars)

    Well-maintained duplex offering a great opportunity for owner-occupants or investors alike. The first-floor unit features a spacious two-bedroom layout, while the second-floor unit offers a comfortable one-bedroom apartment. Each unit includes its own washer and dryer hookups for added convenience. Enjoy a nice, quiet backyard—perfect for relaxing or outdoor enjoyment—along with off-street parking. Ideally located close to shopping, schools, bus routes, and other everyday amenities. A solid property in a convenient location—don't miss this one!

16. 2026-03-24
    status Pending 568-char remark

    Show marketing remark (568 chars)

    Well-maintained duplex offering a great opportunity for owner-occupants or investors alike. The first-floor unit features a spacious two-bedroom layout, while the second-floor unit offers a comfortable one-bedroom apartment. Each unit includes its own washer and dryer hookups for added convenience. Enjoy a nice, quiet backyard—perfect for relaxing or outdoor enjoyment—along with off-street parking. Ideally located close to shopping, schools, bus routes, and other everyday amenities. A solid property in a convenient location—don't miss this one!

17. 2026-03-11
    price $148,500 568-char remark

    Show marketing remark (568 chars)

    Well-maintained duplex offering a great opportunity for owner-occupants or investors alike. The first-floor unit features a spacious two-bedroom layout, while the second-floor unit offers a comfortable one-bedroom apartment. Each unit includes its own washer and dryer hookups for added convenience. Enjoy a nice, quiet backyard—perfect for relaxing or outdoor enjoyment—along with off-street parking. Ideally located close to shopping, schools, bus routes, and other everyday amenities. A solid property in a convenient location—don't miss this one!

18. 2026-02-04
    listed $150,000 Active 568-char remark

    Show marketing remark (568 chars)

    Well-maintained duplex offering a great opportunity for owner-occupants or investors alike. The first-floor unit features a spacious two-bedroom layout, while the second-floor unit offers a comfortable one-bedroom apartment. Each unit includes its own washer and dryer hookups for added convenience. Enjoy a nice, quiet backyard—perfect for relaxing or outdoor enjoyment—along with off-street parking. Ideally located close to shopping, schools, bus routes, and other everyday amenities. A solid property in a convenient location—don't miss this one!

19. 2023-11-27
    soldstatus $51,000
20. 2023-11-16
    soldstatus $51,000 Closed 122-char remark

    Show marketing remark (122 chars)

    Attention investors or owner occupied or handy man. This is a fixer upper being sold AS IS. 2 Unit in nice neighborhood.

21. 2023-10-04
    status Pending 122-char remark

    Show marketing remark (122 chars)

    Attention investors or owner occupied or handy man. This is a fixer upper being sold AS IS. 2 Unit in nice neighborhood.

22. 2023-09-23
    historical Contingent 122-char remark

    Show marketing remark (122 chars)

    Attention investors or owner occupied or handy man. This is a fixer upper being sold AS IS. 2 Unit in nice neighborhood.

23. 2023-08-22
    price $54,000 122-char remark

    Show marketing remark (122 chars)

    Attention investors or owner occupied or handy man. This is a fixer upper being sold AS IS. 2 Unit in nice neighborhood.

24. 2023-07-01
    listed $60,000 Active 122-char remark

    Show marketing remark (122 chars)

    Attention investors or owner occupied or handy man. This is a fixer upper being sold AS IS. 2 Unit in nice neighborhood.

25. 2022-10-20
    soldstatus $52,000
26. 2022-08-22
    status Pending
27. 2022-08-09
    historical Contingent
28. 2022-07-26
    listed $49,900 Active

ⓘ 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: $1,274 · $106/mo
• Projected year-2 tax: $1,735 · $145/mo
• Expected delta: +$461/yr (+$38/mo · 36.2%)

ⓘ 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 2/10 Low 7 d/yr ≥93°F today · 17 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: $26,736
• − Mortgage interest: −$7,276
• − Property taxes: −$1,274
• − Insurance: −$650
• − Repairs & maintenance: −$2,139
• − Management: −$2,139
• − Depreciation: −$3,779
• Taxable income: $9,480
• Est. tax owed @ 24.0%: −$2,275
• After-tax cash flow: $8,749/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

+197.6% since first listed

14 events — show timeline

• 2026-04-12 Relisted — Global MLS
• 2026-03-24 Pending — Global MLS
• 2026-03-11 Price Changed $148,500 Global MLS
• 2026-02-04 Listed $150,000 Global MLS
• 2023-11-27 Sold (Public Records) $51,000 Public Records
• 2023-11-16 Sold (MLS) $51,000 Global MLS
• 2023-10-04 Pending — Global MLS
• 2023-09-23 Contingent — Global MLS
• 2023-08-22 Price Changed $54,000 Global MLS
• 2023-07-01 Listed $60,000 Global MLS
• 2022-10-20 Sold (Public Records) $52,000 Public Records
• 2022-08-22 Pending — Global MLS
• 2022-08-09 Contingent — Global MLS
• 2022-07-26 Listed $49,900 Global MLS

Property tax history

+0.9%/yr

Latest (2025): $1,274 · +3.4% YoY. Source: county tax records.