87 Yale St · Gloversville, NY 12078

$195,000

4 bd · 2.0 ba · 2,162 sqft · MultiFamily public records · 87 Days on market

Built 1900 6,969 sqft lot $90/sqft · at area comps Est $189k · at est.

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +6.2/15.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Excellent investment opportunity featuring two 3 bdrm units and over 2162 square feet of living space with 2 paved driveways, Convenient location close to local amenities, shopping and transportation. Being sold as is, inspections are for buyer's informatio only.

Key facts

• Two units
• Convenient location
• Paved driveways

Tags

• INVESTMENT OPPORTUNITY
• TWO UNITS
• PAVED DRIVEWAYS
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $993 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $183k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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: schools D, 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.
• Market conditions: 172 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k 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 $55k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $195k implies a 1200% 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 $183,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.42% ✓
• Cap rate: 12.40%
• Cash-on-cash: 21.82%
• DSCR: 1.97
• GRM: 5.9

CMA / ARV

• ARV (median comp): $189,491
• List price: $195,000
• Delta: 2.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Temple St	0.27mi	4/2.0	2,182 (+1%)	6mo	$114,000	$52	80
36 Helwig St	0.16mi	4/2.0	2,080 (-4%)	9mo	$110,000	$53	79
38 Temple St	0.25mi	4/2.0	2,296 (+6%)	1mo	$107,000	$47	77
40 Temple St	0.25mi	4/2.0	1,956 (-10%)	2mo	$137,000	$70	71
65 Temple St	0.30mi	4/2.0	2,256 (+4%)	10mo	$160,000	$71	71
24 4th Ave	0.05mi	5/2.0 (+1)	2,400 (+11%)	6mo	$120,000	$50	70
70 6th Ave	0.24mi	5/2.0 (+1)	1,952 (-10%)	4mo	$120,000	$61	64
26 Grand St	0.29mi	3/3.0 (-1)	2,360 (+9%)	4mo	$110,000	$47	59
242 Bleecker St	0.39mi	5/2.0 (+1)	1,904 (-12%)	6mo	$125,000	$66	52
226 E Fulton St	0.64mi	3/1.5 (-1)	2,345 (+8%)	4mo	$137,000	$58	46
73 Fremont St	0.58mi	5/2.0 (+1)	1,914 (-12%)	8mo	$75,000	$39	42
189 2nd Ave	0.68mi	4/1.5	1,900 (-12%)	10mo	$210,000	$111	38

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

Projected returns pro-forma

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

5-year hold

• IRR: 40.6%
• Equity multiple: 4.10×
• Total profit: $169,390
• Equity at exit: $175,671

10-year hold

• IRR: 35.0%
• Equity multiple: 9.22×
• Total profit: $448,989
• Equity at exit: $378,842

Cash invested: $54,600 (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: 172
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,768 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$90 /mo · $1,079/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $993

Break-even live

Break-even rent $1,511

Max offer price $195,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,103	-5% $1,048	+0% $993	+5% $938	+10% $883
Rent	-10% $774	-5% $884	+0% $993	+5% $1,102	+10% $1,212
Rate	-1.0pp $1,091	-0.5pp $1,043	base $993	+0.5pp $942	+1.0pp $891

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,768
Total (2 units)			$2,768

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Fremont St Gloversville, NY	2.0–3.0	1.5–2.0	1612	$1,650	$1.02	44d	3	0.37mi

Listing history 18 events

1. 2026-06-21
   days on market $195,000 Active 87 DOM
2. 2026-06-18
   days on market $195,000 Active 85 DOM
3. 2026-06-17
   days on market $195,000 Active 84 DOM
4. 2026-06-16
   days on market $195,000 Active 83 DOM
5. 2026-06-15
   days on market $195,000 Active 82 DOM
6. 2026-06-13
   days on market $195,000 Active 80 DOM
7. 2026-06-12
   days on market $195,000 Active 79 DOM
8. 2026-06-09
   days on market $195,000 Active 76 DOM
9. 2026-06-08
   days on market $195,000 Active 75 DOM
10. 2026-06-07
    days on market $195,000 Active 74 DOM
11. 2026-06-07
    days on market $195,000 Active 73 DOM
12. 2026-06-04
    days on market $195,000 Active 70 DOM
13. 2026-06-02
    days on market $195,000 Active 69 DOM
14. 2026-06-01
    days on market $195,000 Active 68 DOM
15. 2026-05-31
    days on market $195,000 Active 67 DOM
16. 2026-03-30
    price $195,000 264-char remark

    Show marketing remark (264 chars)

    Excellent investment opportunity featuring two 3 bdrm units and over 2162 square feet of living space with 2 paved driveways, Convenient location close to local amenities, shopping and transportation. Being sold as is, inspections are for buyer's informatio only.

17. 2026-03-25
    listed $220,000 Active 264-char remark

    Show marketing remark (264 chars)

    Excellent investment opportunity featuring two 3 bdrm units and over 2162 square feet of living space with 2 paved driveways, Convenient location close to local amenities, shopping and transportation. Being sold as is, inspections are for buyer's informatio only.

18. 2009-07-13
    soldstatus $15,000

ⓘ 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: $1,079 · $90/mo
• Projected year-2 tax: $2,187 · $182/mo
• Expected delta: +$1,108/yr (+$92/mo · 102.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 17 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: $33,216
• − Mortgage interest: −$10,923
• − Property taxes: −$1,079
• − Insurance: −$975
• − Repairs & maintenance: −$2,657
• − Management: −$2,657
• − Depreciation: −$5,673
• Taxable income: $9,252
• Est. tax owed @ 24.0%: −$2,220
• After-tax cash flow: $9,695/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

• Census place: Gloversville, NY
• 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

+1200.0% since first listed

3 events — show timeline

• 2026-03-30 Price Changed $195,000 Global MLS
• 2026-03-25 Listed $220,000 Global MLS
• 2009-07-13 Sold (Public Records) $15,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,079 · +3.4% YoY. Source: county tax records.