19 1st St · Glens Falls, NY 12801

$245,000

3 bd · 1.0 ba · 1,290 sqft · SingleFamily public records · 222 Days on market

Built 1900 7,840 sqft lot $190/sqft · at area comps Est $421k · 42% under

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Why this score? — see what drove the D 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 +9.7/30.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• DSCR +2.8/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ATTENTION INVESTORS: Come visit this 2 family home in the Heart of Glens Falls within walking distance to Downtown. Rents are below market value and create a tremendous upside potential. It may be possible to vacate a unit and allow for a FHA owner occupied buyer with 96.5% financing. Won't last long at this price.

Key facts

• 7,840 sq ft lot
• 6 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-159 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (11.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (23.3% below list).
• Recommended offer: $188k (23.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 83/100 on livability (#60 in NY, #894 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+.
• Glens Falls City School District (urban): math 44% / reading 53% proficiency, ranked #416 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 56 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).
• This rent runs 33% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Warren County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 222 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $2k; list at $245k implies a 16233% 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 $187,798 (23.3% 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 222 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.77% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.78%
• DSCR: 0.88
• GRM: 10.9

CMA / ARV

• ARV (median comp): $420,747
• List price: $245,000
• Delta: -41.77%
• 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
68 1st St	0.24mi	3/1.0	1,266 (-2%)	1mo	$252,000	$199	84
59 First St	0.21mi	3/1.5	1,249 (-3%)	8mo	$90,000	$72	76
11 Second St	0.09mi	3/2.0	1,400 (+8%)	2mo	$236,000	$169	76
30 4th St	0.27mi	3/1.0	1,378 (+7%)	3mo	$265,000	$192	73
69 Knight St	0.53mi	3/1.0	1,280 (-1%)	6mo	$250,000	$195	69
10 Caroline St	0.63mi	3/1.5	1,296 (+0%)	5mo	$265,000	$204	64
5 Quade St	0.50mi	3/1.0	1,237 (-4%)	8mo	$234,000	$189	63
11 E Boylston St	0.54mi	3/2.0	1,325 (+3%)	6mo	$325,000	$245	62
52 Staple St	0.33mi	4/1.0 (+1)	1,138 (-12%)	8mo	$251,500	$221	53
6 Riverview St	0.67mi	3/1.5	1,372 (+6%)	7mo	$320,000	$233	50
17 Columbia Ave	0.68mi	2/2.0 (-1)	1,232 (-4%)	4mo	$289,000	$235	48
15 Holden Ave	0.55mi	2/1.0 (-1)	1,158 (-10%)	5mo	$200,000	$173	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -20.9%
• Equity multiple: 0.27×
• Total profit: $-49,843
• Equity at exit: $36,530

10-year hold

• IRR: -14.3%
• Equity multiple: 0.18×
• Total profit: $-56,469
• Equity at exit: $21,183

Cash invested: $68,600 (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 12801

• Home prices YoY: -13.7%
• Active inventory: 56
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,878 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$256 /mo · $3,071/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $-159

Break-even live

Break-even rent $2,080

Max offer price $216,876

Occupancy floor —

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
60-62 Lawrence St Glens Falls, NY	2.0	1.0	1000	$1,650	$1.65	14d	1	1.01mi
11 Hunter St Glens Falls, NY	2.0	1.0	1465	$2,200	$1.50	21d	1	1.03mi
173 Bay St Glens Falls, NY	3.0	1.0	1200	$1,795	$1.50	43d	1	1.16mi

Listing history 25 events

1. 2026-06-19
   days on market $245,000 Active 222 DOM
2. 2026-06-18
   days on market $245,000 Active 221 DOM
3. 2026-06-17
   days on market $245,000 Active 220 DOM
4. 2026-06-16
   days on market $245,000 Active 219 DOM
5. 2026-06-15
   days on market $245,000 Active 218 DOM
6. 2026-06-14
   days on market $245,000 Active 216 DOM
7. 2026-06-12
   days on market $245,000 Active 215 DOM
8. 2026-06-09
   days on market $245,000 Active 212 DOM
9. 2026-06-08
   days on market $245,000 Active 211 DOM
10. 2026-06-07
    days on market $245,000 Active 210 DOM
11. 2026-06-04
    days on market $245,000 Active 206 DOM
12. 2026-06-02
    days on market $245,000 Active 205 DOM
13. 2026-06-01
    days on market $245,000 Active 204 DOM
14. 2026-05-31
    days on market $245,000 Active 203 DOM
15. 2026-05-31
    days on market $245,000 Active 202 DOM
16. 2026-03-11
    price $245,000 321-char remark

    Show marketing remark (321 chars)

    ATTENTION INVESTORS: Come visit this 2 family home in the Heart of Glens Falls within walking distance to Downtown. Rents are below market value and create a tremendous upside potential. It may be possible to vacate a unit and allow for a FHA owner occupied buyer with 96.5% financing. Won't last long at this price.

17. 2025-11-09
    listed $250,000 Active 321-char remark

    Show marketing remark (321 chars)

    ATTENTION INVESTORS: Come visit this 2 family home in the Heart of Glens Falls within walking distance to Downtown. Rents are below market value and create a tremendous upside potential. It may be possible to vacate a unit and allow for a FHA owner occupied buyer with 96.5% financing. Won't last long at this price.

18. 2024-08-14
    soldstatus $1,500
19. 2023-09-04
    historical
20. 2023-07-27
    status Active
21. 2023-03-15
    historical
22. 2023-03-14
    price $180,000
23. 2023-03-03
    listed $175,000 Active
24. 2013-05-06
    soldstatus $200,000
25. 2003-02-05
    soldstatus $66,500

ⓘ 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: $3,071 · $256/mo
• Projected year-2 tax: $3,606 · $300/mo
• Expected delta: +$535/yr (+$45/mo · 17.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,536
• − Mortgage interest: −$13,724
• − Property taxes: −$3,071
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,803
• − Management: −$1,803
• − Depreciation: −$7,127
• Taxable loss: −$6,217
• Est. tax savings @ 24.0%: +$1,492
• After-tax cash flow: $-418/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: Glens Falls City School District
• NCES district ID: 3612240
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 53% ▲ 6.00%
• Median HH income: $48,216
• Composite: 41.34/100
• National rank: #3499
• State rank: #416 of 590 in NY

Livability — Glens Falls

• Score: 83/100
• State rank: #60
• US rank: #894

Category grades

Amenities A+ Commute C Cost of living B Crime A+ Employment C Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glens Falls, NY
• County: Warren County · 14,628 people
• City population: 14,628
• Metro: Glens Falls, NY
• Population (ZIP): 14,628
• Household income: $67,577
• Rent vs Own: 47.6% rent · 52.4% own
• Severe rent burden: 866.0

Population outlook (Warren County) Hauer SSP2

• Today (2025): 62,372 people
• By 2030: 60,491 · -3.0%
• By 2040: 55,616 · -10.8%
• By 2050: 50,437 · -19.1%
• By 2075: 40,843 · -34.5%
• By 2100: 31,159 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 9% Romanian 5% Slovak 5%
• Foreign-born: 3% · Canada, Dominican Republic
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Warren

• 2024 margin: Toss-up / Even · D 47.9% · R 52.1%
• 2008→2024 swing: -6.9pp toward R · 2008: 2.6pp · 2024: -4.2pp
• All cycles: 2024: R+4.2 2020: R+0.2 2016: R+10.6 2012: D+2.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.28%
• Current HPI: 330.581
• Rent YoY: —
• Metro: Glens Falls, NY
• 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

+268.4% since first listed

10 events — show timeline

• 2026-03-11 Price Changed $245,000 Global MLS
• 2025-11-09 Listed $250,000 Global MLS
• 2024-08-14 Sold (Public Records) $1,500 Public Records
• 2023-09-04 Listing Removed — Global MLS
• 2023-07-27 Relisted — Global MLS
• 2023-03-15 Listing Removed — Global MLS
• 2023-03-14 Price Changed $180,000 Global MLS
• 2023-03-03 Listed $175,000 Global MLS
• 2013-05-06 Sold (Public Records) $200,000 Public Records
• 2003-02-05 Sold (Public Records) $66,500 Public Records

Property tax history

+4.7%/yr

Latest (2025): $3,071 · +6.8% YoY. Source: county tax records.