27 W Notre Dame St · Glens Falls, NY 12801

$375,000

12 bd · 9.0 ba · 2,484 sqft · MultiFamily · 5 Days on market

Built 1900 Good condition 6,534 sqft lot $151/sqft · 24% below area Est $496k · 24% under

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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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Triplex close to downtown Glens Falls! This property is zoned as an office with two converted apartments. Currently, there are 2 one bedroom apartments on the first floor and a large two, possibly three, bedroom apartment on the second floor. The office space is currently being occupied by a residential tenant, but could easily be utilized as an office. Owner pays for heat, lights and hot water for the first floor tenants. Upstairs tenant pays their own utilities. This is a real Money Maker!

Key facts

• 6,534 sq ft lot
• 6 parking spots
• Built 1900

Property features AI

Exterior

• Parking: Driveway parking for 6 vehicles
• Utilities: Public water; Public sewer
• Home design: Triplex; 2,484 total living area; Slate roof; Aluminum siding
• Construction: Aluminum siding construction
• Exterior features: Level lot

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 1 bedroom; Unit 3: 2 bedrooms
• Flooring: Vinyl flooring; Carpeted areas
• Bathrooms: 3 full bathrooms (two on the 1st level, one on the 2nd level)
• Heating & cooling: Hot water heating; Natural gas heating
• Interior features: Full basement

🏷️ Possibly a rental listed for sale. The $375,000 price doesn't fit this home's estimated sale value (~$496,104) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $375k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive. Per door: $243/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Cap rate 8.6% 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.
• Zoned schools: Glens Falls Senior High School (math 98% / reading 64%, grade A, #485 of 1,100 statewide, top 45%, 601 students, 41% FRL).
• Zoned-school proficiency averages 81% at this address vs 48% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Glens Falls City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 56 active listings in the ZIP; 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).
• At $4,205/mo this rent would consume 75% of the median local household income ($68k/yr) (locally 866% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 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.
• Current owner paid $210k; list at $375k implies a 79% 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 $375,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (median comp): $496,104
• List price: $375,000
• Delta: -24.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-14,183
• Equity at exit: $55,914

10-year hold

• IRR: 6.1%
• Equity multiple: 1.46×
• Total profit: $47,810
• Equity at exit: $32,423

Cash invested: $105,000 (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: 22.7×

Monthly cashflow live

• Estimated rent: $4,205 medium
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$883
• Net cashflow: $730

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 78%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,752
1× unit	2	1	$1,454
Total (3 units)			$4,205

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-05-11
   status Pending 1260-char remark
2. 2026-05-05
   listed $375,000 Active 1260-char remark
3. 2023-11-02
   soldstatus $210,000 Closed 496-char remark

   Show marketing remark (496 chars)

   Triplex close to downtown Glens Falls! This property is zoned as an office with two converted apartments. Currently, there are 2 one bedroom apartments on the first floor and a large two, possibly three, bedroom apartment on the second floor. The office space is currently being occupied by a residential tenant, but could easily be utilized as an office. Owner pays for heat, lights and hot water for the first floor tenants. Upstairs tenant pays their own utilities. This is a real Money Maker!

4. 2023-08-20
   status Pending 496-char remark

   Show marketing remark (496 chars)

   Triplex close to downtown Glens Falls! This property is zoned as an office with two converted apartments. Currently, there are 2 one bedroom apartments on the first floor and a large two, possibly three, bedroom apartment on the second floor. The office space is currently being occupied by a residential tenant, but could easily be utilized as an office. Owner pays for heat, lights and hot water for the first floor tenants. Upstairs tenant pays their own utilities. This is a real Money Maker!

5. 2023-06-06
   price $239,900 496-char remark

   Show marketing remark (496 chars)

   Triplex close to downtown Glens Falls! This property is zoned as an office with two converted apartments. Currently, there are 2 one bedroom apartments on the first floor and a large two, possibly three, bedroom apartment on the second floor. The office space is currently being occupied by a residential tenant, but could easily be utilized as an office. Owner pays for heat, lights and hot water for the first floor tenants. Upstairs tenant pays their own utilities. This is a real Money Maker!

6. 2023-06-06
   status Active 496-char remark

   Show marketing remark (496 chars)

   Triplex close to downtown Glens Falls! This property is zoned as an office with two converted apartments. Currently, there are 2 one bedroom apartments on the first floor and a large two, possibly three, bedroom apartment on the second floor. The office space is currently being occupied by a residential tenant, but could easily be utilized as an office. Owner pays for heat, lights and hot water for the first floor tenants. Upstairs tenant pays their own utilities. This is a real Money Maker!

7. 2023-03-29
   status Pending 496-char remark

   Show marketing remark (496 chars)

   Triplex close to downtown Glens Falls! This property is zoned as an office with two converted apartments. Currently, there are 2 one bedroom apartments on the first floor and a large two, possibly three, bedroom apartment on the second floor. The office space is currently being occupied by a residential tenant, but could easily be utilized as an office. Owner pays for heat, lights and hot water for the first floor tenants. Upstairs tenant pays their own utilities. This is a real Money Maker!

8. 2022-12-27
   status Pending 496-char remark

   Show marketing remark (496 chars)

   Triplex close to downtown Glens Falls! This property is zoned as an office with two converted apartments. Currently, there are 2 one bedroom apartments on the first floor and a large two, possibly three, bedroom apartment on the second floor. The office space is currently being occupied by a residential tenant, but could easily be utilized as an office. Owner pays for heat, lights and hot water for the first floor tenants. Upstairs tenant pays their own utilities. This is a real Money Maker!

9. 2022-12-23
   price $220,000 496-char remark

   Show marketing remark (496 chars)

   Triplex close to downtown Glens Falls! This property is zoned as an office with two converted apartments. Currently, there are 2 one bedroom apartments on the first floor and a large two, possibly three, bedroom apartment on the second floor. The office space is currently being occupied by a residential tenant, but could easily be utilized as an office. Owner pays for heat, lights and hot water for the first floor tenants. Upstairs tenant pays their own utilities. This is a real Money Maker!

10. 2022-12-09
    listed $199,900 Active 496-char remark

    Show marketing remark (496 chars)

    Triplex close to downtown Glens Falls! This property is zoned as an office with two converted apartments. Currently, there are 2 one bedroom apartments on the first floor and a large two, possibly three, bedroom apartment on the second floor. The office space is currently being occupied by a residential tenant, but could easily be utilized as an office. Owner pays for heat, lights and hot water for the first floor tenants. Upstairs tenant pays their own utilities. This is a real Money Maker!

11. 2019-03-01
    historical
12. 2010-04-25
    soldstatus $137,500
13. 2009-10-01
    listed $163,000
14. 2006-01-21
    soldstatus $138,000
15. 2005-11-20
    listed $145,000
16. 2005-08-05
    listed $149,900
17. 2002-02-13
    soldstatus $73,500
18. 2001-11-09
    listed $76,900
19. 2000-10-30
    historical
20. 2000-05-08
    listed $74,000
21. 1998-03-31
    historical
22. 1997-10-13
    listed $79,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $50,460
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$4,037
• − Management: −$4,037
• − Depreciation: −$10,909
• Taxable income: $2,971
• Est. tax owed @ 24.0%: −$713
• After-tax cash flow: $8,052/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This fully renovated 3-unit multifamily property is move-in ready with updated kitchens, bathrooms, and flooring. The exterior and landscaping are well-maintained, making it an attractive investment.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both smart home integration — improves convenience and marketability
• Rental landlord-friendly maintenance schedule — reduces tenant turnover and maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both smart home integration — improves convenience and marketability ↑
• Rental landlord-friendly maintenance schedule — reduces tenant turnover and maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+374.7% since first listed

22 events — show timeline

• 2026-05-11 Pending — Global MLS
• 2026-05-05 Listed $375,000 Global MLS
• 2023-11-02 Sold (MLS) $210,000 Global MLS
• 2023-08-20 Pending — Global MLS
• 2023-06-06 Price Changed $239,900 Global MLS
• 2023-06-06 Relisted — Global MLS
• 2023-03-29 Pending — Global MLS
• 2022-12-27 Pending — Global MLS
• 2022-12-23 Price Changed $220,000 Global MLS
• 2022-12-09 Listed $199,900 Global MLS
• 2019-03-01 Listing Removed — Global MLS
• 2010-04-25 Sold (MLS) $137,500 Global MLS
• 2009-10-01 Listed $163,000 Global MLS
• 2006-01-21 Sold (MLS) $138,000 Global MLS
• 2005-11-20 Listed $145,000 Global MLS
• 2005-08-05 Listed $149,900 Global MLS
• 2002-02-13 Sold (MLS) $73,500 Global MLS
• 2001-11-09 Listed $76,900 Global MLS
• 2000-10-30 Listing Removed — Global MLS
• 2000-05-08 Listed $74,000 Global MLS
• 1998-03-31 Listing Removed — Global MLS
• 1997-10-13 Listed $79,000 Global MLS