22 Summer St · Gloversville, NY 12078

$129,999

4 bd · 1.0 ba · 1,512 sqft · SingleFamily public records · 153 Days on market

Built 1900 6,534 sqft lot Est $171k · 24% 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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.7/10.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this beautifully renovated 4-bedroom, 1-bath home in the heart of Gloversville! Step inside to find a bright layout showcasing a brand-new kitchen with modern appliances, freshly painted interiors, new flooring throughout, and a stylishly updated bathroom. Perfectly positioned across from McNab Elementary School and within walking distance to the high school, local shops, restaurants, and town amenities, this home offers an ideal blend of comfort, convenience, and modern living. Whether you're a first-time homebuyer or downsizing, this move-in-ready property is absolutely what you have been waiting for. Do not miss this opportunity.

Key facts

• Modern appliances
• Renovated kitchen
• Updated bathroom

Tags

• RENOVATED KITCHEN
• MODERN APPLIANCES
• UPDATED BATHROOM
• WALKING DISTANCE TO SHOPS

Property features AI

Exterior

• Parking: Paved driveway parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Living area approximately 1,512
• Construction: Vinyl siding
• Exterior features: Paved driveway; Cleared lot

Interior

• Kitchen: Oven, Range, Refrigerator
• Bedrooms: Four bedrooms located on the second level
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Total of 8 rooms; Oven; Range; Refrigerator
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% 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: Boulevard School (math 24% / reading 35%, grade F, #1,729 of 2,108 statewide, top 84%, 568 students, 72% 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 (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 54% at this address vs 34% district-wide (+20 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: 172 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 $14k of equity ($899 loan paydown + $13k 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 $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $130k implies a 712% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.27% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.95%
• DSCR: 1.62
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $170,856
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69 Third St	0.31mi	4/2.0	1,570 (+4%)	12mo	$195,000	$124	65
305 W Fulton St	0.40mi	3/1.5 (-1)	1,504 (-0%)	12mo	$192,500	$128	63
51 Orchard St	0.22mi	3/1.0 (-1)	1,386 (-8%)	18mo	$90,000	$65	55
6 Highland Ter	0.32mi	3/1.0 (-1)	1,300 (-14%)	6mo	$176,900	$136	52
84 Woodside Ave	0.34mi	3/1.0 (-1)	1,600 (+6%)	23mo	$147,900	$92	50
109 2nd Street St	0.25mi	3/2.0 (-1)	1,632 (+8%)	23mo	$184,300	$113	47
47 Temple St	0.71mi	3/1.0 (-1)	1,380 (-9%)	15mo	$95,000	$69	35

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: 34.6%
• Equity multiple: 3.69×
• Total profit: $97,765
• Equity at exit: $117,113

10-year hold

• IRR: 29.8%
• Equity multiple: 8.33×
• Total profit: $266,736
• Equity at exit: $252,559

Cash invested: $36,400 (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: 172
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$144 /mo · $1,734/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $423

Break-even live

Break-even rent $1,114

Max offer price $129,999

Occupancy floor 69%

Sensitivity live

Price	-10% $497	-5% $460	+0% $423	+5% $386	+10% $350
Rent	-10% $293	-5% $358	+0% $423	+5% $488	+10% $553
Rate	-1.0pp $489	-0.5pp $456	base $423	+0.5pp $389	+1.0pp $355

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: $32,500
• Closing costs: $3,900
• 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	44d	3	0.71mi

Listing history 33 events

1. 2026-06-21
   days on market $129,999 Active 153 DOM
2. 2026-06-18
   days on market $129,999 Active 151 DOM
3. 2026-06-17
   days on market $129,999 Active 150 DOM
4. 2026-06-16
   days on market $129,999 Active 149 DOM
5. 2026-06-15
   days on market $129,999 Active 148 DOM
6. 2026-06-13
   days on market $129,999 Active 146 DOM
7. 2026-06-12
   days on market $129,999 Active 145 DOM
8. 2026-06-09
   days on market $129,999 Active 142 DOM
9. 2026-06-08
   days on market $129,999 Active 141 DOM
10. 2026-06-07
    days on market $129,999 Active 140 DOM
11. 2026-06-07
    days on market $129,999 Active 139 DOM
12. 2026-06-04
    days on market $129,999 Active 136 DOM
13. 2026-06-02
    days on market $129,999 Active 135 DOM
14. 2026-06-01
    days on market $129,999 Active 134 DOM
15. 2026-05-31
    days on market $129,999 Active 133 DOM
16. 2026-05-21
    status Active
17. 2026-03-14
    historical
18. 2026-02-03
    price $129,999
19. 2026-02-03
    price $129,999
20. 2025-11-13
    listed $139,999 Active
21. 2025-11-11
    listed $139,999 Active
22. 2024-09-11
    price $64,999
23. 2024-09-11
    price $64,999
24. 2024-08-02
    listed $69,999 Active
25. 2024-07-22
    status Active
26. 2024-06-12
    historical
27. 2024-05-16
    status Pending
28. 2024-05-16
    historical
29. 2023-06-12
    listed $69,999 Active
30. 2023-06-12
    listed $69,999 Active
31. 2016-06-02
    soldstatus $16,000
32. 2015-12-14
    historical
33. 2015-09-09
    listed $65,000 Active

ⓘ 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: $1,734 · $144/mo
• Projected year-2 tax: $1,965 · $164/mo
• Expected delta: +$232/yr (+$19/mo · 13.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $19,800
• − Mortgage interest: −$7,282
• − Property taxes: −$1,734
• − Insurance: −$650
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$3,782
• Taxable income: $3,185
• Est. tax owed @ 24.0%: −$764
• After-tax cash flow: $4,313/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

+100.0% since first listed

18 events — show timeline

• 2026-05-21 Relisted — Global MLS
• 2026-03-14 Listing Removed — Global MLS
• 2026-02-03 Price Changed $129,999 OneKey® MLS as Distributed by MLS Grid
• 2026-02-03 Price Changed $129,999 Global MLS
• 2025-11-13 Listed $139,999 OneKey® MLS as Distributed by MLS Grid
• 2025-11-11 Listed $139,999 Global MLS
• 2024-09-11 Price Changed $64,999 OneKey® MLS as Distributed by MLS Grid
• 2024-09-11 Price Changed $64,999 Global MLS
• 2024-08-02 Listed $69,999 OneKey® MLS as Distributed by MLS Grid
• 2024-07-22 Relisted — Global MLS
• 2024-06-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-05-16 Pending — Global MLS
• 2024-05-16 Listing Removed — Global MLS
• 2023-06-12 Listed $69,999 OneKey® MLS as Distributed by MLS Grid
• 2023-06-12 Listed $69,999 Global MLS
• 2016-06-02 Sold (Public Records) $16,000 Public Records
• 2015-12-14 Listing Removed — Global MLS
• 2015-09-09 Listed $65,000 Global MLS

Property tax history

+1.1%/yr

Latest (2025): $1,734 · +5.4% YoY. Source: county tax records.