114 1st Ave · Gloversville, NY 12078

$195,000

4 bd · 2.0 ba · 2,526 sqft · MultiFamily public records · 12 Days on market

Built 1900 435 sqft lot Est $134k · 46% over

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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 +29.9/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Perfect. owner occupied (Rent can reduce your Mortage payment) or Investment property. Close to Boulevard School and shopping. Owner is a Licensed Real Estate Broker and related to the Listing Broker

Key facts

• 3 parking spots
• Built 1900
• Listed 11 days

Property features AI

Finance

• Financial info: Annual taxes listed

Exterior

• Parking: Parking for 3 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex
• Construction: Wood siding construction; Below-grade finished area present
• Exterior features: Wood siding; Lot approximately 6,082 sq ft

Interior

• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Bathrooms: Two full bathrooms total (one full bath on the 1st level, one full bath on the 2nd level)
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Cap rate 10.7% vs local median 8.7% in Gloversville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 $21k of equity ($1k loan paydown + $20k 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 $55k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $80k; list at $195k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $195,000

Questions for the listing agent

1. Built in 1900 — 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 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: 1.33% ✓
• Cap rate: 10.74%
• Cash-on-cash: 15.87%
• DSCR: 1.71
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $133,878
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 Prospect Ave	0.19mi	4/2.0	2,632 (+4%)	6mo	$216,000	$82	79
24 4th Ave	0.26mi	5/2.0 (+1)	2,400 (-5%)	5mo	$120,000	$50	70
89 2nd Ave	0.09mi	5/2.0 (+1)	2,272 (-10%)	13mo	$134,000	$59	64
38 Temple St	0.48mi	4/2.0	2,296 (-9%)	1mo	$107,000	$47	62
48 Fourth Ave	0.20mi	4/4.0	2,598 (+3%)	19mo	$144,500	$56	62
226 E Fulton St	0.36mi	3/1.5 (-1)	2,345 (-7%)	4mo	$137,000	$58	61
64 Spring St	0.63mi	4/2.0	2,484 (-2%)	15mo	$125,000	$50	56
26 Grand St	0.45mi	3/3.0 (-1)	2,360 (-7%)	4mo	$110,000	$47	56
65 Temple St	0.56mi	4/2.0	2,256 (-11%)	10mo	$160,000	$71	48
45 Temple St	0.52mi	4/2.0	2,182 (-14%)	6mo	$114,000	$52	48
31 Steele Ave	0.65mi	5/2.0 (+1)	2,886 (+14%)	20mo	$90,000	$31	24
53 Steele Ave	0.63mi	5/3.0 (+1)	2,892 (+14%)	19mo	$153,000	$53	21

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: 36.0%
• Equity multiple: 3.79×
• Total profit: $152,221
• Equity at exit: $175,671

10-year hold

• IRR: 31.0%
• Equity multiple: 8.55×
• Total profit: $412,154
• Equity at exit: $378,842

Cash invested: $54,600 (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: 12.5×

Monthly cashflow live

• Estimated rent: $2,597 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$226 /mo · $2,708/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $722

Break-even live

Break-even rent $1,683

Max offer price $195,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,596
Total (2 units)			$2,597

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: $48,750
• Closing costs: $5,850
• 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	0.37mi

Listing history 10 events

1. 2026-06-18
   days on market $195,000 Active 12 DOM
2. 2026-06-17
   days on market $195,000 Active 11 DOM
3. 2026-06-16
   days on market $195,000 Active 10 DOM
4. 2026-06-15
   days on market $195,000 Active 9 DOM
5. 2026-06-13
   days on market $195,000 Active 7 DOM
6. 2026-06-12
   days on market $195,000 Active 6 DOM
7. 2026-06-09
   days on market $195,000 Active 3 DOM
8. 2026-06-08
   days on market $195,000 Active 2 DOM
9. 2026-06-07
   remarks 199-char remark
10. 2026-06-07
    listed $195,000 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: $2,708 · $226/mo
• Projected year-2 tax: $3,002 · $250/mo
• Expected delta: +$294/yr (+$24/mo · 10.8%)

ⓘ 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: $31,164
• − Mortgage interest: −$10,923
• − Property taxes: −$2,708
• − Insurance: −$975
• − Repairs & maintenance: −$2,493
• − Management: −$2,493
• − Depreciation: −$5,673
• Taxable income: $5,899
• Est. tax owed @ 24.0%: −$1,416
• After-tax cash flow: $7,249/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

+323.9% since first listed

3 events — show timeline

• 2026-06-06 Listed $195,000 Global MLS
• 2005-02-07 Sold (Public Records) $80,000 Public Records
• 1999-02-05 Sold (Public Records) $46,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,708 · +5.4% YoY. Source: county tax records.