212 N Main St · Gloversville, NY 12078

$140,000

8 bd · 2.0 ba · 3,494 sqft · SingleFamily · 13 Days on market

Built 1958 Good condition 8,712 sqft lot ↓ 14% since listing

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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
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0

Listing remarks

Rare mixed-use opportunity in the heart of Gloversville! This 3,494 sq ft property offers endless potential with a former dentist office on the first floor and a spacious 2-bedroom apartment upstairs. Ideal for an owner-occupant to live above and run a business below, or as a smart investment by renting both spaces. Features include a well-maintained interior, 2-car garage, and paved driveway for ample parking. Versatile layout, excellent visibility, and strong curb appeal make this property perfect for professional offices, retail, or other business uses. Truly a unique and well-kept property with multiple income possibilities.

Key facts

• Ample parking
• Paved driveway
• Spacious apartment

Tags

• MIXED-USE OPPORTUNITY
• FORMER DENTIST OFFICE
• SPACIOUS APARTMENT
• WELL-MAINTAINED INTERIOR
• PAVED DRIVEWAY
• AMPLE PARKING

Property features AI

Exterior

• Parking: 2-car garage; Total parking for 8 vehicles; Driveway parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Living area approximately 3,494
• Construction: Vinyl siding
• Exterior features: Paved driveway

Interior

• Kitchen: Gas oven
• Bedrooms: Four bedrooms on the first level; Four bedrooms on the second level
• Bathrooms: 2 full bathrooms (one on the first floor, one on the second floor)
• Heating & cooling: Baseboard heating; Electric heating; Forced air; Hot water heating; Natural gas heating; Window air conditioning units
• Interior features: Full basement; Gas oven

What this means for you Summary

Snapshot

• This is a 8-bed/2.0-bath single-family listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).

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: Kingsborough School (332 students, 75% FRL); Gloversville Middle School (math 6% / reading 35%, grade F, #664 of 729 statewide, top 91%, 548 students, 70% FRL); Gloversville High School (math 82% / reading 77%, grade A-, #518 of 1,100 statewide, top 51%, 697 students, 71% FRL) — zoned schools average 72% FRL vs 54% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 50% at this address vs 34% district-wide (+16 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; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($968 loan paydown + $14k 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 $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1958 — 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 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: 1.17% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.86%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $405,304
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Kingsboro Ave	0.51mi	8/6.0	3,432 (-2%)	18mo	$399,000	$116	42

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: $96,787
• Equity at exit: $126,123

10-year hold

• IRR: 27.2%
• Equity multiple: 7.86×
• Total profit: $268,938
• Equity at exit: $271,989

Cash invested: $39,200 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,632 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $322

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 75%

Sensitivity live

Price	-10% $419	-5% $370	+0% $322	+5% $274	+10% $225
Rent	-10% $193	-5% $258	+0% $322	+5% $387	+10% $451
Rate	-1.0pp $393	-0.5pp $358	base $322	+0.5pp $286	+1.0pp $249

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $140,000 Active 13 DOM
2. 2026-06-21
   days on market $140,000 Active 12 DOM
3. 2026-06-18
   days on market $140,000 Active 10 DOM
4. 2026-06-17
   price $140,000 Active 9 DOM
5. 2026-06-17
   days on market $150,000 Active 9 DOM
6. 2026-06-16
   days on market $150,000 Active 8 DOM
7. 2026-06-15
   days on market $150,000 Active 7 DOM
8. 2026-06-13
   days on market $150,000 Active 5 DOM
9. 2026-06-12
   days on market $150,000 Active 4 DOM
10. 2026-06-09
    remarks 636-char remark
11. 2026-06-09
    listed $150,000 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: $19,589
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$4,073
• Taxable income: $1,740
• Est. tax owed @ 24.0%: −$418
• After-tax cash flow: $3,448/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 · 13 photos

Good 75/100 Cosmetic rehab

This mixed-use property offers a good investment opportunity with a well-maintained interior and exterior. Minor updates to the kitchen and bathrooms would significantly enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — dated design
• Minor landscaping — some overgrown areas

Value-add opportunities

• Resale update kitchen cabinets — modernizing kitchen
• Resale update bathroom fixtures — modernizing bathroom
• Both landscaping improvements — enhances curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · dated design	Minor	$500–3,000
landscaping · some overgrown areas	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale update kitchen cabinets — modernizing kitchen ↑
• Resale update bathroom fixtures — modernizing bathroom ↑
• Both landscaping improvements — enhances curb appeal and rental 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

-14.3% since first listed

5 events — show timeline

• 2026-06-08 Listed $150,000 Global MLS
• 2026-01-05 Relisted — Global MLS
• 2025-09-01 Pending — Global MLS
• 2025-09-01 Listing Removed — Global MLS
• 2025-08-19 Listed $175,000 Global MLS