28-30 William St · Gloversville, NY 12078

$109,500

4 bd · 2.0 ba · 1,808 sqft · MultiFamily · 6 Days on market

Built 1850 Fair condition 0.32 ac lot Est $110k · at est.

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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
• Appreciation +10.0/10.0
• ARV discount +7.8/15.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Opportunity awaits with this income producing two family property! Both units are currently tenant occupied and feature 2 bedrooms, spacious living areas, private porch/deck spaces, and separate utilities, making management simple and efficient. Whether you're looking to expand your investment portfolio or begin building wealth through real estate, this property offers solid rental income potential. The home does require some TLC and updating, providing an excellent opportunity for value add improvements. Being sold ''as is''. Cash or conventional financing is likely best suited for this property. Don't miss the chance to invest in a multi family property with strong upside potential! This

Key facts

• 0.32 acre lot
• Garage
• Built 1850

Property features AI

Finance

• Other: Lot about 0.32 acre
• Financial info: 2-unit property; Tenants pay heat, cable TV, electricity, and gas; Owner pays water and sewer

Exterior

• Parking: Driveway; 1 garage space; 4 parking spaces total
• Utilities: 100 amp electric service; Public water; Public sewer
• Home design: Duplex; Clapboard siding
• Construction: Stone foundation; Asphalt roof
• Exterior features: Side porch; Deck

Interior

• Bedrooms: Unit 1: 2 bedrooms (both on the 1st floor); Unit 2: 2 bedrooms
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms (one on the 1st floor, one on the 2nd floor)
• Heating & cooling: Forced air heating; Space heater
• Interior features: Full basement; Vinyl and wood flooring
• Laundry & utility: Washer hookup in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $110k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive. Per door: $408/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 15.2% vs local median 8.6% 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: 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: 173 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 $12k of equity ($757 loan paydown + $11k 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 $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,500

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 1850 — 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. 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?
7. 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.
8. 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.
9. 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: 1.82% ✓
• Cap rate: 15.23%
• Cash-on-cash: 31.91%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $110,288
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
242 Bleecker St	0.15mi	5/2.0 (+1)	1,904 (+5%)	6mo	$125,000	$66	74
40 Temple St	0.33mi	4/2.0	1,956 (+8%)	2mo	$137,000	$70	70
32 5th Ave	0.57mi	4/2.0	1,890 (+4%)	10mo	$88,000	$47	57
73 Grand St	0.43mi	4/2.0	1,920 (+6%)	18mo	$95,000	$49	55
70 6th Ave	0.70mi	5/2.0 (+1)	1,952 (+8%)	4mo	$120,000	$61	46
69 Yale St	0.56mi	4/2.0	2,016 (+12%)	21mo	$70,000	$35	37
27 4th Ave	0.55mi	5/2.0 (+1)	1,628 (-10%)	24mo	$85,000	$52	33
77 1st Ave	0.69mi	5/3.0 (+1)	1,620 (-10%)	14mo	$185,000	$114	30

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: 48.6%
• Equity multiple: 4.64×
• Total profit: $111,598
• Equity at exit: $98,646

10-year hold

• IRR: 42.4%
• Equity multiple: 10.39×
• Total profit: $287,859
• Equity at exit: $212,734

Cash invested: $30,660 (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: 173
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,990 medium
• Mortgage (P&I): −$574
• Tax est. 1.5%: −$137 /mo · $1,642/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $815

Break-even live

Break-even rent $958

Max offer price $109,500

Occupancy floor 54%

Sensitivity live

Price	-10% $891	-5% $853	+0% $815	+5% $778	+10% $740
Rent	-10% $658	-5% $737	+0% $815	+5% $894	+10% $973
Rate	-1.0pp $871	-0.5pp $843	base $815	+0.5pp $787	+1.0pp $758

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,990
Total (2 units)			$1,990

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: $27,375
• Closing costs: $3,285
• 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	45d	3	0.69mi

Listing history 6 events

1. 2026-06-21
   days on market $109,500 Active 6 DOM
2. 2026-06-21
   days on market $109,500 Active 5 DOM
3. 2026-06-18
   days on market $109,500 Active 3 DOM
4. 2026-06-17
   days on market $109,500 Active 2 DOM
5. 2026-06-16
   remarks 699-char remark
6. 2026-06-16
   listed $109,500 Active 1 DOM

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

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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $23,880
• − Mortgage interest: −$6,134
• − Property taxes: −$1,642
• − Insurance: −$548
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − Depreciation: −$3,185
• Taxable income: $8,550
• Est. tax owed @ 24.0%: −$2,052
• After-tax cash flow: $7,732/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 · 12 photos

Fair 45/100 Moderate rehab

This two-family property requires moderate renovations, including exterior painting, landscaping, and interior updates, to significantly increase its resale and rental value.

Repairs flagged

• Major exterior siding — Peeling paint
• Major landscaping — Overgrown vegetation
• Major kitchen appliances — Outdated and cluttered
• Major bathroom fixtures — Outdated and cluttered
• Major interior walls — Some discoloration

Value-add opportunities

• Both exterior painting — Enhances curb appeal and value
• Both landscaping — Improves curb appeal and value
• Both kitchen appliances — Modernizes and increases value
• Both bathroom fixtures — Modernizes and increases value
• Both interior painting — Enhances interior and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Peeling paint	Major	$15,000–50,000
landscaping · Overgrown vegetation	Major	$15,000–50,000
kitchen appliances · Outdated and cluttered	Major	$15,000–50,000
bathroom fixtures · Outdated and cluttered	Major	$15,000–50,000
interior walls · Some discoloration	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior painting — Enhances curb appeal and value ↑
• Both landscaping — Improves curb appeal and value ↑
• Both kitchen appliances — Modernizes and increases value ↑
• Both bathroom fixtures — Modernizes and increases value ↑
• Both interior painting — Enhances interior and 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: 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

1 event — show timeline

• 2026-06-15 Listed $109,500 Global MLS