83 Fremont St · Gloversville, NY 12078

$124,900

16 bd · 16.0 ba · 2,384 sqft · MultiFamily · 32 Days on market

Built 1920 Fair condition 5,662 sqft lot

---

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 +2.2/5.0

Multi-family units

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

Listing remarks

Unique Quadplex Investment Opportunity! Set in a convenient location near downtown, this property hosts four individual units; two comfortable two-bedroom apartments and two cozy one-bedroom apartments. Every unit comes equipped with a refrigerator and stove. A new roof installed offers peace of mind for prospective investors. Potential for income is not to be overlooked; when fully occupied the property brings in $3000.00 per month. The property features two driveways, simplifying tenant parking. A touch of TLC could take this property to the next level. Contact the listing agent today to discover the immense potential this property has to offer!

Key facts

• 5,662 sq ft lot
• 5 parking spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $538/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.0% 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: 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: Park Terrace School (277 students, 76% FRL); Gloversville Middle School (math 6% / reading 35%, grade F, #664 of 729 statewide, top 91%, 548 students, 70% FRL); Gloversville High School (math 82% / reading 77%, grade A-, #518 of 1,100 statewide, top 51%, 697 students, 71% FRL) — zoned schools average 72% FRL vs 54% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 50% at this address vs 34% district-wide (+16 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: 173 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 $13k of equity ($864 loan paydown + $12k 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 $35k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, 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 32 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.06% ✓
• Cap rate: 26.97%
• Cash-on-cash: 73.85%
• DSCR: 4.29
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 84.4%
• Equity multiple: 6.87×
• Total profit: $205,161
• Equity at exit: $112,520

10-year hold

• IRR: 78.9%
• Equity multiple: 15.20×
• Total profit: $496,481
• Equity at exit: $242,653

Cash invested: $34,972 (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: 173
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $3,817 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$802
• Net cashflow: $2,152

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 39%

Sensitivity live

Price	-10% $2,239	-5% $2,195	+0% $2,152	+5% $2,109	+10% $2,066
Rent	-10% $1,851	-5% $2,002	+0% $2,152	+5% $2,303	+10% $2,454
Rate	-1.0pp $2,215	-0.5pp $2,184	base $2,152	+0.5pp $2,120	+1.0pp $2,087

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,948
▸ 2× units	1	1	$1,868
Total (4 units)			$3,817

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-16
   remarks 656-char remark
2. 2026-06-16
   listed $124,900 Pending 32 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $45,804
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$3,664
• − Management: −$3,664
• − Depreciation: −$3,633
• Taxable income: $25,348
• Est. tax owed @ 24.0%: −$6,083
• After-tax cash flow: $19,744/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and appeal. Focus on updating bathrooms, painting, and landscaping to enhance both resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Slight wear, but not structural damage.
• Major Bathroom fixtures — Significant wear and potential mold.
• Moderate Exterior siding — Weathered appearance, potential for water infiltration.
• Major Landscaping — Sparse and unkempt, detracts from curb appeal.

Value-add opportunities

• Both Painting and updating fixtures in bathrooms — Improves aesthetics and functionality, attracting more tenants.
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value.
• Both HVAC system upgrade — Improves comfort and energy efficiency, attracting more tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear, but not structural damage.	Minor	$500–3,000
Bathroom fixtures · Significant wear and potential mold.	Major	$15,000–50,000
Exterior siding · Weathered appearance, potential for water infiltration.	Moderate	$3,000–15,000
Landscaping · Sparse and unkempt, detracts from curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$33,500–118,000

Value-add ROI direction

• Both Painting and updating fixtures in bathrooms — Improves aesthetics and functionality, attracting more tenants. ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value. ↑
• Both HVAC system upgrade — Improves comfort and energy efficiency, attracting more tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

4 events — show timeline

• 2026-02-16 Pending — Global MLS
• 2026-02-03 Relisted — Global MLS
• 2025-12-10 Pending — Global MLS
• 2025-11-21 Listed $124,900 Global MLS