32 Aviator Way

Glens Falls North, NY 12804

$85,000F

4 bd · 2.0 ba · 2,240 sqft · Built 1981 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,075/mo
• Mortgage (P&I): −$3,066
• Tax + insurance: −$974
• HOA: −$0
• Vac / Maint / Mgmt: −$436
• Net cashflow: $-2,401/mo
• Annual: $-28,811/yr
• Cap rate: 1.36%
• Cash-on-cash: -17.60%
• DSCR: 0.22
• 1% rule: 0.35%
• Cash to close: $163,685

Investor read

• This is a 4-bed/2.0-bath single-family listed at $85k.
• At list price, monthly cash flow is $-2k ($-29k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#112 in NY, #1,836 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living D+, commute F.
• Hudson Falls Central School District (suburban): math 39% / reading 47% proficiency, ranked #486 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hudson Falls High School (math 87% / reading 77%, grade A, #452 of 1,100 statewide, top 44%, 694 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Zoned-school proficiency averages 82% at this address vs 43% district-wide (+39 pts) — the actual schools serving this property are materially stronger than the Hudson Falls Central School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 10.3% of price.
• Market conditions: 160 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 19y 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.
• Cap rate 1.4% vs local median 2.5% in Glens Falls North — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.