32 Barber Rd

Glens Falls North, NY 12804

$100,700B

2 bd · 1.5 ba · 1,584 sqft · Built 1993 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,827/mo
• Mortgage (P&I): −$528
• Tax + insurance: −$168
• HOA: −$0
• Vac / Maint / Mgmt: −$384
• Net cashflow: $747/mo
• Annual: $8,968/yr
• Cap rate: 15.20%
• Cash-on-cash: 31.81%
• DSCR: 2.42
• 1% rule: 1.81%
• Cash to close: $28,196

Investor read

• This is a 2-bed/1.5-bath single-family listed at $101k.
• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $101k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $696 of loan paydown is wiped out by about $3k 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.
• Lake George Central School District (rural): math 68% / reading 73% proficiency, ranked #131 of 590 in NY (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Lake George Elementary School (math 62% / reading 82%, grade A-, #378 of 2,108 statewide, top 20%, 300 students, 24% FRL); Lake George Junior-Senior High School (math 72% / reading 62%, grade B, #746 of 1,100 statewide, top 69%, 330 students, 19% FRL) — zoned schools at 22% FRL track the district average.
• Market conditions: 160 active listings in the ZIP; 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).
• Warren County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 26y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.2% vs local median 2.5% in Glens Falls North — 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.

Questions for listing agent

• 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?
• 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.