59 Prospect Ave · Gloversville, NY 12078

$165,000

4 bd · 2.0 ba · 1,816 sqft · MultiFamily public records · 15 Days on market

Built 1888 8,712 sqft lot Est $111k · 49% over

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Why this score? — see what drove the C- 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 +19.2/30.0
• Appreciation +10.0/10.0
• DSCR +6.1/10.0
• 1% rule +5.0/10.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Many updates in this large 2-family home including new bath downstairs, new side porch, new HW heaters (2), new furnaces (2), new plumbing and electric and back steps. Potential for 3 bedrooms in each apartment. Very Good Condition

Key facts

• Pantry
• Quality upgrades
• Modern bathrooms

Tags

• HARDWOOD FLOORS
• CUSTOM BUILT INS
• QUALITY UPGRADES
• PANTRY
• MODERN BATHROOMS
• CORNER LOT

Property features AI

Exterior

• Parking: Detached garage; Paved driveway; 2 garage spaces (2 total parking spaces)
• Security: Security lights; Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Duplex
• Construction: Vinyl siding; Shingle roof
• Exterior features: Front porch; Side porch; Corner lot

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms (one on first level, one on second level)
• Heating & cooling: Natural gas heating; Has heating
• Interior features: Built-in features; Hardwood flooring; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $163k (1.5% 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; 1 comparable units currently listed for rent nearby; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k 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 $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $110k; list at $165k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,525 (1.5% below list)

Questions for the listing agent

1. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.00% ✓
• Cap rate: 7.60%
• Cash-on-cash: 4.66%
• DSCR: 1.21
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $110,776
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32 5th Ave	0.28mi	4/2.0	1,890 (+4%)	10mo	$88,000	$47	72
40 Temple St	0.42mi	4/2.0	1,956 (+8%)	2mo	$137,000	$70	66
70 6th Ave	0.38mi	5/2.0 (+1)	1,952 (+8%)	4mo	$120,000	$61	61
73 Fremont St	0.39mi	5/2.0 (+1)	1,914 (+5%)	8mo	$75,000	$39	61
77 1st Ave	0.07mi	5/3.0 (+1)	1,620 (-11%)	14mo	$185,000	$114	58
242 Bleecker St	0.60mi	5/2.0 (+1)	1,904 (+5%)	6mo	$125,000	$66	54
36 Helwig St	0.33mi	4/2.0	2,080 (+14%)	9mo	$110,000	$53	53
189 2nd Ave	0.63mi	4/1.5	1,900 (+5%)	10mo	$210,000	$111	53
73 Grand St	0.53mi	4/2.0	1,920 (+6%)	18mo	$95,000	$49	51
82 E Pine St	0.69mi	4/2.0	1,939 (+7%)	12mo	$105,000	$54	46
35 Pearl St	0.59mi	4/2.0	2,080 (+14%)	17mo	$135,000	$65	34
336 N Main St	0.53mi	3/2.0 (-1)	2,088 (+15%)	17mo	$30,000	$14	31

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: 27.7%
• Equity multiple: 3.19×
• Total profit: $101,309
• Equity at exit: $148,645

10-year hold

• IRR: 24.1%
• Equity multiple: 7.26×
• Total profit: $289,378
• Equity at exit: $320,559

Cash invested: $46,200 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$190 /mo · $2,280/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $179

Break-even live

Break-even rent $1,423

Max offer price $165,000

Occupancy floor 84%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Fremont St Gloversville, NY	2.0–3.0	1.5–2.0	1612	$1,650	$1.02	43d	3	0.26mi

Listing history 12 events

1. 2026-06-18
   days on market $165,000 Active 15 DOM
2. 2026-06-17
   days on market $165,000 Active 14 DOM
3. 2026-06-16
   days on market $165,000 Active 13 DOM
4. 2026-06-15
   days on market $165,000 Active 12 DOM
5. 2026-06-13
   days on market $165,000 Active 10 DOM
6. 2026-06-12
   days on market $165,000 Active 9 DOM
7. 2026-06-09
   days on market $165,000 Active 6 DOM
8. 2026-06-08
   days on market $165,000 Active 5 DOM
9. 2026-06-07
   days on market $165,000 Active 4 DOM
10. 2026-06-07
    days on market $165,000 Active 3 DOM
11. 2026-06-04
    remarks 699-char remark
12. 2026-06-04
    listed $165,000 Active 1 DOM

ⓘ 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: $2,280 · $190/mo
• Projected year-2 tax: $2,534 · $211/mo
• Expected delta: +$254/yr (+$21/mo · 11.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°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: $19,800
• − Mortgage interest: −$9,243
• − Property taxes: −$2,280
• − Insurance: −$825
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$4,800
• Taxable loss: −$516
• Est. tax savings @ 24.0%: +$124
• After-tax cash flow: $2,277/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

+120.0% since first listed

13 events — show timeline

• 2026-06-03 Listed $165,000 Global MLS
• 2023-11-20 Sold (Public Records) $110,000 Public Records
• 2017-08-04 Sold (Public Records) $58,500 Public Records
• 2017-08-04 Sold (MLS) $58,500 Global MLS
• 2017-06-08 Pending — Global MLS
• 2017-04-18 Relisted — Global MLS
• 2017-04-17 Pending — Global MLS
• 2017-04-04 Listed $62,900 Global MLS
• 2007-06-15 Sold (Public Records) $70,000 Public Records
• 2007-06-15 Sold (MLS) $65,847 Global MLS
• 2007-06-15 Sold (MLS) $65,847 Global MLS
• 2007-03-21 Listed $75,000 Global MLS
• 2007-03-21 Listed $75,000 Global MLS

Property tax history

+1.1%/yr

Latest (2025): $2,280 · +5.4% YoY. Source: county tax records.