41 Easterly St · Gloversville, NY 12078

$159,900

3 bd · 1.5 ba · 1,236 sqft · SingleFamily public records · 66 Days on market

Built 1920 6,098 sqft lot $129/sqft · 23% below area Est $207k · 23% under

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Why this score? — see what drove the C 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).

• ARV discount +15.0/15.0
• Cash flow +12.3/30.0
• Appreciation +10.0/10.0
• Livability +4.1/5.0
• DSCR +3.7/10.0
• 1% rule +3.4/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great starter home at edge of city near Hospital. Living room w/fireplace, formal dining room kitchen and half bath on 1st floor with 3 bedrooms and fullbath on 2nd floor. Utility room behind bathroom could easily be made into 1st fl laundry. Detached 2 car garage(in need of repair), enclosed front sun porch situated on corner lot

Key facts

• Near hospital
• Half bath
• Formal dining room

Tags

• NEAR HOSPITAL
• LIVING ROOM
• FORMAL DINING ROOM
• KITCHEN
• HALF BATH
• UTILITY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-28 ($-341/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (16.0% below list).
• Recommended offer: $134k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 8.7% in Gloversville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 2 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 $17k of equity ($1k loan paydown + $16k 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 $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $20k; list at $160k implies a 700% 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 $134,288 (16.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.84% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• GRM: 9.9

CMA / ARV

• ARV (median comp): $206,502
• List price: $159,900
• Delta: -22.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 Easterly St	0.10mi	3/2.0	1,350 (+9%)	4mo	$198,000	$147	75
31 E State St	0.28mi	2/1.5 (-1)	1,282 (+4%)	10mo	$185,400	$145	67
503 N Main St	0.44mi	2/1.0 (-1)	1,200 (-3%)	9mo	$60,000	$50	60
30 E State St	0.30mi	3/2.0	1,185 (-4%)	21mo	$137,500	$116	59
3 State Cir	0.60mi	3/1.0	1,189 (-4%)	6mo	$219,000	$184	59
10 Franklin St	0.58mi	2/1.0 (-1)	1,184 (-4%)	1mo	$43,000	$36	58
13 Newman St	0.50mi	3/2.0	1,152 (-7%)	8mo	$160,000	$139	56
1173 County Highway 122	0.61mi	2/1.0 (-1)	1,200 (-3%)	8mo	$240,000	$200	53
56 W State St	0.67mi	3/1.0	1,172 (-5%)	6mo	$195,000	$166	53
8 Grandoe Ln	0.49mi	3/1.0	1,162 (-6%)	16mo	$162,000	$139	52
10 Windsor Dr	0.65mi	3/2.0	1,064 (-14%)	17mo	$195,000	$183	30
19 York St	0.74mi	3/1.0	1,050 (-15%)	18mo	$105,000	$100	24

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: 23.7%
• Equity multiple: 2.90×
• Total profit: $85,287
• Equity at exit: $144,051

10-year hold

• IRR: 21.1%
• Equity multiple: 6.64×
• Total profit: $252,600
• Equity at exit: $310,651

Cash invested: $44,772 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,343 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$184 /mo · $2,210/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-28

Break-even live

Break-even rent $1,379

Max offer price $154,881

Occupancy floor 97%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	1.38mi
4 Fruit St Unit 2 Gloversville, NY	2.0	1.0	850	$995	$1.17	43d	1	1.40mi

Listing history 18 events

1. 2026-06-18
   days on market $159,900 Active 66 DOM
2. 2026-06-17
   days on market $159,900 Active 65 DOM
3. 2026-06-16
   days on market $159,900 Active 64 DOM
4. 2026-06-15
   days on market $159,900 Active 63 DOM
5. 2026-06-13
   days on market $159,900 Active 61 DOM
6. 2026-06-12
   days on market $159,900 Active 60 DOM
7. 2026-06-09
   days on market $159,900 Active 57 DOM
8. 2026-06-08
   days on market $159,900 Active 56 DOM
9. 2026-06-07
   days on market $159,900 Active 55 DOM
10. 2026-06-07
    days on market $159,900 Active 54 DOM
11. 2026-06-04
    days on market $159,900 Active 51 DOM
12. 2026-06-02
    days on market $159,900 Active 50 DOM
13. 2026-06-01
    days on market $159,900 Active 49 DOM
14. 2026-05-31
    days on market $159,900 Active 48 DOM
15. 2026-04-10
    listed $159,900 Active 332-char remark

    Show marketing remark (332 chars)

    Great starter home at edge of city near Hospital. Living room w/fireplace, formal dining room kitchen and half bath on 1st floor with 3 bedrooms and fullbath on 2nd floor. Utility room behind bathroom could easily be made into 1st fl laundry. Detached 2 car garage(in need of repair), enclosed front sun porch situated on corner lot

16. 2014-01-24
    historical
17. 2013-08-07
    listed $84,900
18. 1999-07-23
    soldstatus $20,000

ⓘ 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: $2,210 · $184/mo
• Projected year-2 tax: $2,456 · $205/mo
• Expected delta: +$246/yr (+$21/mo · 11.2%)

ⓘ 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 · 16 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: $16,115
• − Mortgage interest: −$8,957
• − Property taxes: −$2,210
• − Insurance: −$800
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$4,652
• Taxable loss: −$3,081
• Est. tax savings @ 24.0%: +$740
• After-tax cash flow: $399/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

+699.5% since first listed

4 events — show timeline

• 2026-04-10 Listed $159,900 Global MLS
• 2014-01-24 Listing Removed — Global MLS
• 2013-08-07 Listed $84,900 Global MLS
• 1999-07-23 Sold (Public Records) $20,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,210 · +3.4% YoY. Source: county tax records.