408 Reynolds Rd · West Glens Falls, NY 12828

$230,000

2 bd · 1.0 ba · 1,424 sqft · SingleFamily public records · 28 Days on market

Built 1850 1.19 ac lot $162/sqft · 47% below area Est $438k · 47% under ↓ 34% since listing

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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
• Appreciation +8.0/10.0
• Cash flow +5.4/30.0
• Schools +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Enjoy classic country charm in this inviting farmhouse set on a spacious and private 1.19-acre lot. Nestled well back from the road, the home offers a peaceful, serene setting while still keeping you close to major highways and everyday amenities. Inside, you'll find updated wiring, an improved kitchen, and the convenience of both public water and a drilled well. Experience the best of country living with modern comforts and an ideal location

Key facts

• Private lot
• Updated wiring
• Spacious lot

Tags

• SPACIOUS LOT
• PRIVATE LOT
• UPDATED WIRING
• IMPROVED KITCHEN
• PUBLIC WATER
• DRILLED WELL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-501 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (38.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (48.8% below list).
• Recommended offer: $118k (48.8% below list) — sets the bar for 1% rule.
• Cap rate 3.7% vs local median 2.4% in West 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 71/100 on livability (#388 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, cost of living C-, schools F.
• South Glens Falls Central School District (suburban): math 49% / reading 59% proficiency, ranked #307 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 44 active listings in the ZIP; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (6.1% local appreciation)).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $95k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $117,734 (48.8% 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. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 0.51% ✗
• Cap rate: 3.68%
• Cash-on-cash: -9.33%
• DSCR: 0.58
• GRM: 16.3

CMA / ARV

• ARV (median comp): $438,075
• List price: $230,000
• Delta: -47.50%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

6.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.55×
• Total profit: $35,488
• Equity at exit: $145,717

10-year hold

• IRR: 9.7%
• Equity multiple: 3.00×
• Total profit: $128,922
• Equity at exit: $265,230

Cash invested: $64,400 (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 12828

• Home prices YoY: 1.9%
• Active inventory: 44
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $1,177 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$129 /mo · $1,548/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $-501

Break-even live

Break-even rent $1,811

Max offer price $141,520

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $230,000 Active 28 DOM
2. 2026-06-17
   days on market $230,000 Active 27 DOM
3. 2026-06-16
   days on market $230,000 Active 26 DOM
4. 2026-06-15
   days on market $230,000 Active 25 DOM
5. 2026-06-14
   days on market $230,000 Active 23 DOM
6. 2026-06-10
   days on market $230,000 Active 20 DOM
7. 2026-06-09
   days on market $230,000 Active 19 DOM
8. 2026-06-08
   days on market $230,000 Active 18 DOM
9. 2026-06-07
   days on market $230,000 Active 17 DOM
10. 2026-06-03
    days on market $230,000 Active 13 DOM
11. 2026-06-02
    days on market $230,000 Active 12 DOM
12. 2026-06-01
    days on market $230,000 Active 11 DOM
13. 2026-05-31
    days on market $230,000 Active 10 DOM
14. 2026-05-31
    days on market $230,000 Active 9 DOM
15. 2026-05-01
    status Active 448-char remark

    Show marketing remark (448 chars)

    Enjoy classic country charm in this inviting farmhouse set on a spacious and private 1.19-acre lot. Nestled well back from the road, the home offers a peaceful, serene setting while still keeping you close to major highways and everyday amenities. Inside, you'll find updated wiring, an improved kitchen, and the convenience of both public water and a drilled well. Experience the best of country living with modern comforts and an ideal location

16. 2026-05-01
    price $230,000 448-char remark

    Show marketing remark (448 chars)

    Enjoy classic country charm in this inviting farmhouse set on a spacious and private 1.19-acre lot. Nestled well back from the road, the home offers a peaceful, serene setting while still keeping you close to major highways and everyday amenities. Inside, you'll find updated wiring, an improved kitchen, and the convenience of both public water and a drilled well. Experience the best of country living with modern comforts and an ideal location

17. 2025-12-12
    historical 448-char remark

    Show marketing remark (448 chars)

    Enjoy classic country charm in this inviting farmhouse set on a spacious and private 1.19-acre lot. Nestled well back from the road, the home offers a peaceful, serene setting while still keeping you close to major highways and everyday amenities. Inside, you'll find updated wiring, an improved kitchen, and the convenience of both public water and a drilled well. Experience the best of country living with modern comforts and an ideal location

18. 2025-11-15
    price $249,900 448-char remark

    Show marketing remark (448 chars)

    Enjoy classic country charm in this inviting farmhouse set on a spacious and private 1.19-acre lot. Nestled well back from the road, the home offers a peaceful, serene setting while still keeping you close to major highways and everyday amenities. Inside, you'll find updated wiring, an improved kitchen, and the convenience of both public water and a drilled well. Experience the best of country living with modern comforts and an ideal location

19. 2025-05-28
    price $300,000 448-char remark

    Show marketing remark (448 chars)

    Enjoy classic country charm in this inviting farmhouse set on a spacious and private 1.19-acre lot. Nestled well back from the road, the home offers a peaceful, serene setting while still keeping you close to major highways and everyday amenities. Inside, you'll find updated wiring, an improved kitchen, and the convenience of both public water and a drilled well. Experience the best of country living with modern comforts and an ideal location

20. 2025-05-21
    listed $325,000 Active 448-char remark

    Show marketing remark (448 chars)

    Enjoy classic country charm in this inviting farmhouse set on a spacious and private 1.19-acre lot. Nestled well back from the road, the home offers a peaceful, serene setting while still keeping you close to major highways and everyday amenities. Inside, you'll find updated wiring, an improved kitchen, and the convenience of both public water and a drilled well. Experience the best of country living with modern comforts and an ideal location

21. 2025-05-20
    historical
22. 2025-04-24
    status Active
23. 2025-04-20
    historical
24. 2024-05-01
    listed $350,000 Active

ⓘ 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: $1,548 · $129/mo
• Projected year-2 tax: $2,717 · $226/mo
• Expected delta: +$1,170/yr (+$97/mo · 75.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°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: $14,128
• − Mortgage interest: −$12,884
• − Property taxes: −$1,548
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,130
• − Management: −$1,130
• − Depreciation: −$6,691
• Taxable loss: −$10,405
• Est. tax savings @ 24.0%: +$2,497
• After-tax cash flow: $-3,513/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: South Glens Falls Central School District
• NCES district ID: 3627240
• Math proficiency: 49% ▼ -9.00%
• Reading proficiency: 59% ▲ 12.00%
• Median HH income: $59,015
• Composite: 46.93/100
• National rank: #2363
• State rank: #307 of 590 in NY

Livability — West Glens Falls

• Score: 71/100
• State rank: #388
• US rank: #6663

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,775

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 12% Iranian 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.08%
• Current HPI: 327.6439
• 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

-34.3% since first listed

10 events — show timeline

• 2026-05-01 Relisted — Global MLS
• 2026-05-01 Price Changed $230,000 Global MLS
• 2025-12-12 Listing Removed — Global MLS
• 2025-11-15 Price Changed $249,900 Global MLS
• 2025-05-28 Price Changed $300,000 Global MLS
• 2025-05-21 Listed $325,000 Global MLS
• 2025-05-20 Listing Removed — Global MLS
• 2025-04-24 Relisted — Global MLS
• 2025-04-20 Listing Removed — Global MLS
• 2024-05-01 Listed $350,000 Global MLS

Property tax history

-1.5%/yr

Latest (2025): $1,548 · +1.5% YoY. Source: county tax records.