2085 State Highway 29a · Gloversville, NY 12078

$45,000

2 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 283 Days on market

Built 1940 2.60 ac lot $43/sqft · 83% below area ↓ 31% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investors/Flippers Look no further...Looking for a affordable house situated on 2.6 acres. Garage was turned into a large shed..Put some doors on it and you have a garage again. 2 bedroom, 1 bath. Could have another bath upstairs. Bedrooms are upstairs. 2.6 acre lot. Room to keep your toys.

Key facts

• 2.6 acres
• Large shed
• 2.6 acre lot

Tags

• 2.6 ACRES
• LARGE SHED
• ROOM TO KEEP YOUR TOYS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $577 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.7% vs local median 8.6% in Gloversville — 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 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: 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 71% FRL vs 54% district-wide (16 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 $5k of equity ($311 loan paydown + $4k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 283 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $25k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 283 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 1940 — 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. 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: 2.61% ✓
• Cap rate: 21.69%
• Cash-on-cash: 55.00%
• DSCR: 3.45
• GRM: 3.2

CMA / ARV

• ARV (median comp): $267,683
• List price: $45,000
• Delta: -83.19%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 67.9%
• Equity multiple: 5.87×
• Total profit: $61,329
• Equity at exit: $40,540

10-year hold

• IRR: 61.6%
• Equity multiple: 13.04×
• Total profit: $151,764
• Equity at exit: $87,425

Cash invested: $12,600 (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 12078

• Home prices YoY: 12.2%
• Active inventory: 173
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,173 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$95 /mo · $1,135/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $577

Break-even live

Break-even rent $442

Max offer price $45,000

Occupancy floor 46%

Sensitivity live

Price	-10% $603	-5% $590	+0% $577	+5% $565	+10% $552
Rent	-10% $485	-5% $531	+0% $577	+5% $624	+10% $670
Rate	-1.0pp $600	-0.5pp $589	base $577	+0.5pp $566	+1.0pp $554

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-21
   days on market $45,000 Active 283 DOM
2. 2026-06-21
   days on market $45,000 Active 282 DOM
3. 2026-06-18
   days on market $45,000 Active 280 DOM
4. 2026-06-17
   days on market $45,000 Active 279 DOM
5. 2026-06-16
   days on market $45,000 Active 278 DOM
6. 2026-06-15
   days on market $45,000 Active 277 DOM
7. 2026-06-13
   days on market $45,000 Active 275 DOM
8. 2026-06-12
   days on market $45,000 Active 274 DOM
9. 2026-06-09
   days on market $45,000 Active 271 DOM
10. 2026-06-08
    days on market $45,000 Active 270 DOM
11. 2026-06-07
    days on market $45,000 Active 269 DOM
12. 2026-06-07
    days on market $45,000 Active 268 DOM
13. 2026-06-04
    days on market $45,000 Active 265 DOM
14. 2026-06-02
    days on market $45,000 Active 264 DOM
15. 2026-06-01
    days on market $45,000 Active 263 DOM
16. 2026-05-31
    days on market $45,000 Active 262 DOM
17. 2026-05-01
    price $45,000 300-char remark

    Show marketing remark (300 chars)

    Investors/Flippers Look no further...Looking for a affordable house situated on 2.6 acres. Garage was turned into a large shed..Put some doors on it and you have a garage again. 2 bedroom, 1 bath. Could have another bath upstairs. Bedrooms are upstairs. 2.6 acre lot. Room to keep your toys.

18. 2025-09-11
    listed $69,900 Active 300-char remark

    Show marketing remark (300 chars)

    Investors/Flippers Look no further...Looking for a affordable house situated on 2.6 acres. Garage was turned into a large shed..Put some doors on it and you have a garage again. 2 bedroom, 1 bath. Could have another bath upstairs. Bedrooms are upstairs. 2.6 acre lot. Room to keep your toys.

19. 2025-03-12
    status Pending
20. 2025-03-07
    historical
21. 2025-02-14
    price $40,000
22. 2025-02-04
    price $45,000
23. 2025-01-22
    price $47,500
24. 2024-12-13
    listed $49,999 Active
25. 2023-02-03
    historical
26. 2022-10-21
    price $39,777
27. 2022-09-22
    price $49,777
28. 2022-09-02
    listed $1 Active
29. 2022-01-21
    historical
30. 2021-07-20
    listed $65,000 New

ⓘ 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: $1,135 · $95/mo
• Projected year-2 tax: $1,135 · $95/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 5 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $14,078
• − Mortgage interest: −$2,521
• − Property taxes: −$1,135
• − Insurance: −$225
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$1,309
• Taxable income: $6,636
• Est. tax owed @ 24.0%: −$1,593
• After-tax cash flow: $5,337/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

• 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

-30.8% since first listed

14 events — show timeline

• 2026-05-01 Price Changed $45,000 Global MLS
• 2025-09-11 Listed $69,900 Global MLS
• 2025-03-12 Pending — Global MLS
• 2025-03-07 Listing Removed — Global MLS
• 2025-02-14 Price Changed $40,000 Global MLS
• 2025-02-04 Price Changed $45,000 Global MLS
• 2025-01-22 Price Changed $47,500 Global MLS
• 2024-12-13 Listed $49,999 Global MLS
• 2023-02-03 Listing Removed — Global MLS
• 2022-10-21 Price Changed $39,777 Global MLS
• 2022-09-22 Price Changed $49,777 Global MLS
• 2022-09-02 Listed $1 Global MLS
• 2022-01-21 Listing Removed — Global MLS
• 2021-07-20 Listed $65,000 Global MLS

Property tax history

+10.9%/yr

Latest (2025): $1,135 · -0.4% YoY. Source: county tax records.