8 4th St · South Glens Falls, NY 12803

$225,000

3 bd · 2.0 ba · 1,646 sqft · MultiFamily public records · 27 Days on market

Built 1930 8,276 sqft lot Est $273k · 18% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Appreciation +8.9/10.0
• Schools +4.7/10.0
• Livability +3.7/5.0
• 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

Lots of potential with this over and under duplex. Currently owner occupied, but with a little TLC you could make this a great investment property. Parking on both sides of the home, basement had some new foundation walls done, new monitor heater in second floor apartment, shed stays in spacious backyard. 1st floor furnace is approx. 7-8 years old, both water heaters replaced within last 4 years. Roof approx. 10 years old. New plumbing throughout. All appliances stay including washer/dryer in first floor apt. "Sold as-is" -- Good Condition

Key facts

• Two income streams
• New plumbing
• Foundation wall work

Tags

• OVER UNDER DUPLEX
• TWO INCOME STREAMS
• SPACIOUS BACKYARD
• NEW PLUMBING
• NEW MONITOR HEATER
• FOUNDATION WALL WORK

Property features AI

Finance

• Financial info: Multi-family with 2 units; Tenants pay trash collection, heat, cable TV and electricity

Exterior

• Parking: Off-street parking for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Duplex; Two-unit property
• Construction: Vinyl siding construction; Asphalt roof
• Exterior features: Asphalt roof; Vinyl siding; 0.19-acre lot

Interior

• Kitchen: Unit 1: 1 kitchen on the 1st floor; Unit 2: 1 kitchen on the 2nd floor
• Bedrooms: Unit 1: 2 bedrooms on the 1st floor; Unit 2: 1 bedroom on the 2nd floor
• Flooring: Carpet; Ceramic tile; Linoleum
• Bathrooms: 2 full bathrooms total (one full bath on the 1st floor and one full bath on the 2nd floor); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Bilco doors and interior entry to the basement; Carpet, ceramic tile and linoleum flooring
• Laundry & utility: Main level laundry room

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $540/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#331 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime B+; Watch: amenities F, commute 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.
• Zoned schools: South Glens Falls Senior High School (math 92% / reading 91%, grade A+, #197 of 1,100 statewide, top 18%, 908 students, 36% FRL).
• Zoned-school proficiency averages 92% at this address vs 54% district-wide (+38 pts) — the actual schools serving this property are materially stronger than the South Glens Falls Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 32 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($2k loan paydown + $18k appreciation (7.9% local appreciation)).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $100k; list at $225k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,625 (1.5% below list)

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 1930 — 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: 1.45% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.58%
• DSCR: 1.92
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $273,236
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 Spring St	0.13mi	4/2.0 (+1)	1,568 (-5%)	12mo	$260,000	$166	71
10 Fifth St	0.09mi	4/2.0 (+1)	1,780 (+8%)	18mo	$205,000	$115	62
109 Hudson St	0.37mi	4/2.0 (+1)	1,432 (-13%)	4mo	$297,000	$207	52

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

Projected returns pro-forma

7.89% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.0%
• Equity multiple: 3.54×
• Total profit: $159,855
• Equity at exit: $169,182

10-year hold

• IRR: 32.1%
• Equity multiple: 7.55×
• Total profit: $412,646
• Equity at exit: $334,162

Cash invested: $63,000 (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 12803

• Home prices YoY: 2.3%
• Active inventory: 32
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $3,254 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$217 /mo · $2,599/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $1,080

Break-even live

Break-even rent $1,886

Max offer price $225,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,208	-5% $1,144	+0% $1,080	+5% $1,017	+10% $953
Rent	-10% $823	-5% $952	+0% $1,080	+5% $1,209	+10% $1,337
Rate	-1.0pp $1,194	-0.5pp $1,138	base $1,080	+0.5pp $1,022	+1.0pp $963

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,254
Total (2 units)			$3,254

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Hunter St Glens Falls, NY	2.0	1.0	1465	$2,200	$1.50	22d	1	1.41mi
492 Glen St Glens Falls, NY	3.0	1.5	1912	$2,650	$1.39	44d	1	1.49mi

Listing history 18 events

1. 2026-06-18
   days on market $225,000 Active 27 DOM
2. 2026-06-17
   days on market $225,000 Active 26 DOM
3. 2026-06-16
   days on market $225,000 Active 25 DOM
4. 2026-06-15
   days on market $225,000 Active 24 DOM
5. 2026-06-14
   days on market $225,000 Active 22 DOM
6. 2026-06-10
   days on market $225,000 Active 19 DOM
7. 2026-06-09
   days on market $225,000 Active 18 DOM
8. 2026-06-08
   days on market $225,000 Active 17 DOM
9. 2026-06-07
   days on market $225,000 Active 16 DOM
10. 2026-06-03
    days on market $225,000 Active 12 DOM
11. 2026-06-02
    days on market $225,000 Active 11 DOM
12. 2026-06-01
    days on market $225,000 Active 10 DOM
13. 2026-05-31
    days on market $225,000 Active 9 DOM
14. 2026-05-31
    days on market $225,000 Active 8 DOM
15. 2026-05-22
    listed $225,000 Active
16. 2021-02-19
    soldstatus $100,000 Closed (Final Sale) 555-char remark

    Show marketing remark (555 chars)

    Lots of potential with this over and under duplex. Currently owner occupied, but with a little TLC you could make this a great investment property. Parking on both sides of the home, basement had some new foundation walls done, new monitor heater in second floor apartment, shed stays in spacious backyard. 1st floor furnace is approx. 7-8 years old, both water heaters replaced within last 4 years. Roof approx. 10 years old. New plumbing throughout. All appliances stay including washer/dryer in first floor apt. "Sold as-is" -- Good Condition

17. 2021-01-08
    status Pend (Under Cntr) 555-char remark

    Show marketing remark (555 chars)

    Lots of potential with this over and under duplex. Currently owner occupied, but with a little TLC you could make this a great investment property. Parking on both sides of the home, basement had some new foundation walls done, new monitor heater in second floor apartment, shed stays in spacious backyard. 1st floor furnace is approx. 7-8 years old, both water heaters replaced within last 4 years. Roof approx. 10 years old. New plumbing throughout. All appliances stay including washer/dryer in first floor apt. "Sold as-is" -- Good Condition

18. 2020-12-11
    listed $109,000 New 555-char remark

    Show marketing remark (555 chars)

    Lots of potential with this over and under duplex. Currently owner occupied, but with a little TLC you could make this a great investment property. Parking on both sides of the home, basement had some new foundation walls done, new monitor heater in second floor apartment, shed stays in spacious backyard. 1st floor furnace is approx. 7-8 years old, both water heaters replaced within last 4 years. Roof approx. 10 years old. New plumbing throughout. All appliances stay including washer/dryer in first floor apt. "Sold as-is" -- Good Condition

ⓘ 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: $2,599 · $217/mo
• Projected year-2 tax: $3,201 · $267/mo
• Expected delta: +$602/yr (+$50/mo · 23.1%)

ⓘ 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 ≥96°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: $39,048
• − Mortgage interest: −$12,603
• − Property taxes: −$2,599
• − Insurance: −$1,125
• − Repairs & maintenance: −$3,124
• − Management: −$3,124
• − Depreciation: −$6,545
• Taxable income: $9,927
• Est. tax owed @ 24.0%: −$2,383
• After-tax cash flow: $10,582/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 — South Glens Falls

• Score: 73/100
• State rank: #331
• US rank: #5457

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Glens Falls, NY
• City population: 8,915
• Population (ZIP): 8,915

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 2%
• Foreign-born: 1% · South Korea
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 0%

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: ▲ 7.89%
• Current HPI: 349.2844
• 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

+106.4% since first listed

4 events — show timeline

• 2026-05-22 Listed $225,000 Global MLS
• 2021-02-19 Sold (MLS) $100,000 Global MLS
• 2021-01-08 Pending — Global MLS
• 2020-12-11 Listed $109,000 Global MLS

Property tax history

+9.2%/yr

Latest (2025): $2,599 · +6.0% YoY. Source: county tax records.