1 First St · Glens Falls, NY 12801

$139,900

4 bd · 1.0 ba · 1,727 sqft · SingleFamily public records · 248 Days on market

Built 1850 0.28 ac lot

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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
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

beautifully maintained and remodeled city hom with a beautiful yard w/deck and inground pool on a quiet dead end street.

Key facts

• 0.28 acre lot
• 4 parking spots
• Built 1850

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 4.8% in Glens Falls — 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 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; 2 comparable units currently listed for rent nearby; 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).
• This rent runs 40% 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 $967 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 248 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 1.62% ✓
• Cap rate: 11.84%
• Cash-on-cash: 19.82%
• DSCR: 1.88
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $297,044
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 4th St	0.29mi	5/2.5 (+1)	1,629 (-6%)	4mo	$306,000	$188	63
56 Sherman Ave	0.45mi	3/1.5 (-1)	1,804 (+4%)	6mo	$295,000	$164	60
15 Garfield St	0.66mi	3/1.0 (-1)	1,707 (-1%)	4mo	$215,000	$126	59
9 Division St	0.40mi	3/2.0 (-1)	1,600 (-7%)	4mo	$275,000	$172	56
6 Fielding St	0.33mi	3/2.0 (-1)	1,850 (+7%)	10mo	$300,000	$162	56
9 Fairview St	0.68mi	4/2.0	1,614 (-6%)	2mo	$120,000	$74	52
8 Faxon St	0.44mi	4/2.0	1,942 (+12%)	7mo	$330,000	$170	49
16 Grove Ave	0.68mi	4/1.5	1,922 (+11%)	4mo	$244,110	$127	44
26 Woodard St	0.51mi	3/2.0 (-1)	1,564 (-9%)	9mo	$305,000	$195	44
136 Sherman Ave	0.64mi	3/2.0 (-1)	1,520 (-12%)	3mo	$316,200	$208	38
6 Feeder Bnd	0.72mi	3/1.5 (-1)	1,500 (-13%)	2mo	$340,000	$227	36
29 E State St	0.67mi	3/2.0 (-1)	1,530 (-11%)	7mo	$460,000	$301	35

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: 12.0%
• Equity multiple: 1.48×
• Total profit: $18,676
• Equity at exit: $20,860

10-year hold

• IRR: 21.0%
• Equity multiple: 2.78×
• Total profit: $69,894
• Equity at exit: $12,096

Cash invested: $39,172 (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: 5.2×

Monthly cashflow live

• Estimated rent: $2,263 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$349 /mo · $4,184/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $647

Break-even live

Break-even rent $1,444

Max offer price $139,900

Occupancy floor 66%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
492 Glen St Glens Falls, NY	3.0	1.5	1912	$2,650	$1.39	44d	1	0.88mi
173 Bay St Glens Falls, NY	3.0	1.0	1200	$1,795	$1.50	44d	1	1.15mi

Listing history 11 events

1. 2023-03-29
   status Pending
2. 2021-12-14
   status Pending
3. 2020-05-22
   status Pend (Under Cntr)
4. 2020-02-22
   price $139,900
5. 2019-09-17
   listed $144,900 Active
6. 2019-08-29
   historical
7. 2019-03-21
   listed $155,000
8. 1999-07-06
   soldstatus $125,000 120-char remark

   Show marketing remark (120 chars)

   beautifully maintained and remodeled city hom with a beautiful yard w/deck and inground pool on a quiet dead end street.

9. 1998-09-14
   listed $129,988 120-char remark

   Show marketing remark (120 chars)

   beautifully maintained and remodeled city hom with a beautiful yard w/deck and inground pool on a quiet dead end street.

10. 1997-05-30
    soldstatus $84,000
11. 1997-03-18
    listed $85,000

ⓘ 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: $4,184 · $349/mo
• Projected year-2 tax: $4,184 · $349/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $27,153
• − Mortgage interest: −$7,837
• − Property taxes: −$4,184
• − Insurance: −$700
• − Repairs & maintenance: −$2,172
• − Management: −$2,172
• − Depreciation: −$4,070
• Taxable income: $6,019
• Est. tax owed @ 24.0%: −$1,444
• After-tax cash flow: $6,319/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

+64.6% since first listed

11 events — show timeline

• 2023-03-29 Pending — Global MLS
• 2021-12-14 Pending — Global MLS
• 2020-05-22 Pending — Global MLS
• 2020-02-22 Price Changed $139,900 Global MLS
• 2019-09-17 Listed $144,900 Global MLS
• 2019-08-29 Listing Removed — Global MLS
• 2019-03-21 Listed $155,000 Global MLS
• 1999-07-06 Sold (MLS) $125,000 Global MLS
• 1998-09-14 Listed $129,988 Global MLS
• 1997-05-30 Sold (MLS) $84,000 Global MLS
• 1997-03-18 Listed $85,000 Global MLS

Property tax history

+12.5%/yr

Latest (2025): $4,184 · +0.9% YoY. Source: county tax records.