None · Gloversville, NY 12078

$59,900

4 bd · 2.0 ba · 2,776 sqft · MultiFamily public records · 49 Days on market

Built 1900 0.29 ac lot $22/sqft · 63% below area

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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

Multi-family units

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

Listing remarks MLS

Introducing a fantastic investment opportunity in Gloversville, New York! This two-family home features two straightforward units, each with two bedrooms and one bathroom - a simple and practical layout. Both units are currently occupied by long-term tenants, adding stability and reliability to this investment. The occupancy makes this property an attractive choice for investors looking for a hassle-free income stream. Don't miss out on this opportunity! Schedule a showing today!

Key facts

• Rehab opportunity
• Full renovation
• Fenced in yard

Tags

• FENCED IN YARD
• REHAB OPPORTUNITY
• FULL RENOVATION
• LONG TERM INCOME POTENTIAL

Property features AI

Finance

• Financial info: Owner pays water (multifamily); 2-unit property

Exterior

• Parking: Driveway with space for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex; Living area approximately 2,776
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Asphalt roof

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: 2 full bathrooms total (one on the 1st level, one on the 2nd level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Forced-air heating; Natural gas heating
• Interior features: Unfinished basement; Shed(s) on the property

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $720/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

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 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 (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 80% at this address vs 34% district-wide (+46 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: 165 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 $6k of equity ($414 loan paydown + $6k 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 $17k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 4.08% ✓
• Cap rate: 35.14%
• Cash-on-cash: 103.02%
• DSCR: 5.58
• GRM: 2.0

CMA / ARV

• ARV (median comp): $163,807
• List price: $59,900
• Delta: -63.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Lexington Ave	0.20mi	5/2.0 (+1)	2,816 (+1%)	17mo	$125,000	$44	69
63 W Pine St	0.15mi	5/3.0 (+1)	2,749 (-1%)	16mo	$219,000	$80	69
253 S Main St	0.18mi	5/2.0 (+1)	2,400 (-14%)	7mo	$110,000	$46	58
250 W Fulton St	0.56mi	4/2.0	2,808 (+1%)	18mo	$155,000	$55	57
301 S Main St	0.36mi	4/2.0	2,450 (-12%)	13mo	$115,000	$47	53
31 Steele Ave	0.52mi	5/2.0 (+1)	2,886 (+4%)	20mo	$90,000	$31	48
198 W Fulton St	0.46mi	4/2.0	2,436 (-12%)	14mo	$65,000	$27	46
64 Spring St	0.60mi	4/2.0	2,484 (-10%)	15mo	$125,000	$50	42
104 Lincoln St	0.72mi	5/2.0 (+1)	2,939 (+6%)	13mo	$140,000	$48	41
53 Steele Ave	0.62mi	5/3.0 (+1)	2,892 (+4%)	19mo	$153,000	$53	39
5 Littauer Pl	0.66mi	4/3.0	3,032 (+9%)	19mo	$165,000	$54	34

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: —
• Equity multiple: 8.42×
• Total profit: $124,415
• Equity at exit: $53,963

10-year hold

• IRR: —
• Equity multiple: 18.55×
• Total profit: $294,431
• Equity at exit: $116,373

Cash invested: $16,772 (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: 165
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,445 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$153 /mo · $1,831/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $1,440

Break-even live

Break-even rent $622

Max offer price $59,900

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,446
Total (2 units)			$2,445

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $59,900 Active 49 DOM
2. 2026-06-17
   days on market $59,900 Active 48 DOM
3. 2026-06-16
   days on market $59,900 Active 47 DOM
4. 2026-06-15
   days on market $59,900 Active 46 DOM
5. 2026-06-13
   days on market $59,900 Active 44 DOM
6. 2026-06-12
   days on market $59,900 Active 43 DOM
7. 2026-06-09
   days on market $59,900 Active 40 DOM
8. 2026-06-08
   days on market $59,900 Active 39 DOM
9. 2026-06-07
   days on market $59,900 Active 38 DOM
10. 2026-06-07
    days on market $59,900 Active 37 DOM
11. 2026-06-04
    pricedays on market $59,900 Active 34 DOM
12. 2026-06-02
    days on market $64,000 Active 33 DOM
13. 2026-06-01
    days on market $64,000 Active 32 DOM
14. 2026-05-31
    days on market $64,000 Active 31 DOM
15. 2026-04-30
    listed $65,000 Active 572-char remark
16. 2026-03-24
    price $80,000
17. 2025-12-03
    price $95,000
18. 2025-09-25
    price $99,400
19. 2024-08-01
    soldstatus $42,500
20. 2024-07-12
    soldstatus $42,500 Closed

    Show marketing remark (490 chars)

    Introducing a fantastic investment opportunity in Gloversville, New York! This two-family home features two straightforward units, each with two bedrooms and one bathroom - a simple and practical layout. Both units are currently occupied by long-term tenants, adding stability and reliability to this investment. The occupancy makes this property an attractive choice for investors looking for a hassle-free income stream. Don't miss out on this opportunity! Schedule a showing today!

21. 2024-03-25
    status Pending

    Show marketing remark (490 chars)

    Introducing a fantastic investment opportunity in Gloversville, New York! This two-family home features two straightforward units, each with two bedrooms and one bathroom - a simple and practical layout. Both units are currently occupied by long-term tenants, adding stability and reliability to this investment. The occupancy makes this property an attractive choice for investors looking for a hassle-free income stream. Don't miss out on this opportunity! Schedule a showing today!

22. 2024-03-12
    status Active

    Show marketing remark (490 chars)

    Introducing a fantastic investment opportunity in Gloversville, New York! This two-family home features two straightforward units, each with two bedrooms and one bathroom - a simple and practical layout. Both units are currently occupied by long-term tenants, adding stability and reliability to this investment. The occupancy makes this property an attractive choice for investors looking for a hassle-free income stream. Don't miss out on this opportunity! Schedule a showing today!

23. 2024-02-23
    status Pending

    Show marketing remark (490 chars)

    Introducing a fantastic investment opportunity in Gloversville, New York! This two-family home features two straightforward units, each with two bedrooms and one bathroom - a simple and practical layout. Both units are currently occupied by long-term tenants, adding stability and reliability to this investment. The occupancy makes this property an attractive choice for investors looking for a hassle-free income stream. Don't miss out on this opportunity! Schedule a showing today!

24. 2024-02-12
    listed $75,000 Active

    Show marketing remark (490 chars)

    Introducing a fantastic investment opportunity in Gloversville, New York! This two-family home features two straightforward units, each with two bedrooms and one bathroom - a simple and practical layout. Both units are currently occupied by long-term tenants, adding stability and reliability to this investment. The occupancy makes this property an attractive choice for investors looking for a hassle-free income stream. Don't miss out on this opportunity! Schedule a showing today!

25. 2010-05-06
    historical
26. 2008-10-06
    listed $36,000
27. 2001-12-14
    soldstatus $205,366

ⓘ 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: $1,831 · $153/mo
• Projected year-2 tax: $1,831 · $153/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 6/10 Major FEMA zone X · 69% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 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: $29,340
• − Mortgage interest: −$3,355
• − Property taxes: −$1,831
• − Insurance: −$300
• − Repairs & maintenance: −$2,347
• − Management: −$2,347
• − Depreciation: −$1,743
• Taxable income: $17,417
• Est. tax owed @ 24.0%: −$4,180
• After-tax cash flow: $13,098/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

-70.8% since first listed

18 events — show timeline

• 2026-06-03 Price Changed $59,900 Global MLS
• 2026-05-29 Price Changed $64,000 Global MLS
• 2026-04-30 Listed $65,000 Global MLS
• 2026-04-05 Listing Removed — CNYIS
• 2026-04-02 Listing Removed — CNYIS
• 2026-03-24 Price Changed $80,000 CNYIS
• 2025-12-03 Price Changed $95,000 CNYIS
• 2025-09-25 Price Changed $99,400 CNYIS
• 2025-06-12 Listed $99,900 CNYIS
• 2024-08-01 Sold (Public Records) $42,500 Public Records
• 2024-07-12 Sold (MLS) $42,500 Global MLS
• 2024-03-25 Pending — Global MLS
• 2024-03-12 Relisted — Global MLS
• 2024-02-23 Pending — Global MLS
• 2024-02-12 Listed $75,000 Global MLS
• 2010-05-06 Listing Removed — Global MLS
• 2008-10-06 Listed $36,000 Global MLS
• 2001-12-14 Sold (Public Records) $205,366 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,831 · +5.4% YoY. Source: county tax records.