591 County Highway 146 · Gloversville, NY 12078

$169,900

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 13 Days on market

Built 1950 1.94 ac lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.5/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.4/10.0

Listing remarks

Opportunity is waiting in the Mayfield School District with this year round 2 bedroom, 1 bath ranch set on 1.94 peaceful acres with wooded surroundings and a picturesque creek on the property. Whether you are a first time buyer, downsizing, or looking for a manageable home with room to make it your own, this property offers a great starting point. The main level features an eat in kitchen, comfortable living room, two bedrooms, and a full bath, all on one floor for easy everyday living. The enclosed 3 season front porch adds extra space to relax, enjoy morning coffee, or take in the natural setting with abundance of wildlife. Some updating will make this home an ideal opportunity for buyers

Key facts

• Wooded surroundings
• Eat in kitchen
• Picturesque creek

Tags

• 1 ACRE LOT
• WOODED SURROUNDINGS
• PICTURESQUE CREEK
• EAT IN KITCHEN
• ENCLOSED 3 SEASON FRONT PORCH
• FULL DRY BASEMENT

Property features AI

Exterior

• Parking: Off-street paved driveway parking for 6 vehicles
• Utilities: Electric service with fuses; Septic tank
• Home design: Single-family residence
• Construction: Clapboard exterior; Rubber roof
• Exterior features: Enclosed front porch; Paved driveway; Barn(s); Drive paved; Wooded lot; Creek on the property

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Two bedrooms on the first level
• Bathrooms: One full bathroom on the first level
• Heating & cooling: Forced air heating (oil)
• Interior features: Wall paneling; Full basement with interior entry, unfinished space, and walk-out access; 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-149 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (15.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (36.3% below list).
• Recommended offer: $108k (36.3% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 8.6% in Gloversville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Mayfield Central School District (town): math 42% / reading 56% proficiency, ranked #400 of 590 in NY (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mayfield Elementary School (math 36% / reading 62%, grade D, #1,177 of 2,108 statewide, top 56%, 430 students, 0% FRL); Mayfield Jr/Sr High School (math 52% / reading 42%, grade D-, #1,007 of 1,100 statewide, top 93%, 400 students, 48% FRL).
• 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 $18k of equity ($1k loan paydown + $17k 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.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,253 (36.3% below list)

Questions for the listing agent

1. 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?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.64% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.75%
• DSCR: 0.83
• GRM: 13.1

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: 21.6%
• Equity multiple: 2.74×
• Total profit: $82,965
• Equity at exit: $153,059

10-year hold

• IRR: 19.5%
• Equity multiple: 6.29×
• Total profit: $251,597
• Equity at exit: $330,078

Cash invested: $47,572 (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: 13.1×

Monthly cashflow live

• Estimated rent: $1,083 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$42 /mo · $507/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $-149

Break-even live

Break-even rent $1,271

Max offer price $143,610

Occupancy floor —

Sensitivity live

Price	-10% $-53	-5% $-101	+0% $-149	+5% $-197	+10% $-245
Rent	-10% $-234	-5% $-192	+0% $-149	+5% $-106	+10% $-63
Rate	-1.0pp $-63	-0.5pp $-106	base $-149	+0.5pp $-193	+1.0pp $-238

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-05
   statusdays on market $169,900 Pending 13 DOM
2. 2026-06-04
   days on market $169,900 Contingent 12 DOM
3. 2026-06-02
   days on market $169,900 Contingent 11 DOM
4. 2026-06-01
   days on market $169,900 Contingent 10 DOM
5. 2026-05-31
   days on market $169,900 Contingent 9 DOM
6. 2026-05-22
   listed $169,900 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: $507 · $42/mo
• Projected year-2 tax: $1,689 · $141/mo
• Expected delta: +$1,182/yr (+$99/mo · 233.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 73% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 6 d/yr ≥93°F today · 14 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: $12,990
• − Mortgage interest: −$9,517
• − Property taxes: −$507
• − Insurance: −$850
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − Depreciation: −$4,943
• Taxable loss: −$4,904
• Est. tax savings @ 24.0%: +$1,177
• After-tax cash flow: $-609/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: Mayfield Central School District
• NCES district ID: 3618750
• Math proficiency: 42% ▼ -11.00%
• Reading proficiency: 56% ▲ 5.00%
• Median HH income: $51,922
• Composite: 42.08/100
• National rank: #3322
• State rank: #400 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

• 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

3 events — show timeline

• 2026-06-05 Pending — Global MLS
• 2026-05-30 Contingent — Global MLS
• 2026-05-22 Listed $169,900 Global MLS

Property tax history

+3.0%/yr

Latest (2025): $507 · -68.6% YoY. Source: county tax records.