34 3rd Ave · Gloversville, NY 12078

$199,000

6 bd · 3.0 ba · 3,248 sqft · MultiFamily · 93 Days on market

Built 1900 Fair condition 8,712 sqft lot $61/sqft · 13% below area Est $229k · 13% 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 +30.0/30.0
• ARV discount +13.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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: 3 units. confirmed

Listing remarks MLS

Excellent Investment Opportunity! three-family property conveniently located near shopping, dining, schools, and transportation. Perfect for investors or owner-occupants, this property features a vacant 3-bedroom apartment, ideal for immediate occupancy or rental income + 2 rented apartments. Recent improvements include newer windows, updated plumbing, and numerous additional upgrades, offering both comfort and long-term value making this a great opportunity to build equity while generating income. Being sold as is, inspections are for buyer's informatio only.

Key facts

• Newer windows
• Updated plumbing
• 8,712 sq ft lot

Tags

• THREE-FAMILY PROPERTY
• VACANT 3-BEDROOM APARTMENT
• NEWER WINDOWS
• UPDATED PLUMBING
• MULTI-FAMILY PROPERTY
• HIGHLY CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $199k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $485/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 8.7% 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: schools D, 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.
• Market conditions: 165 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 $21k of equity ($1k loan paydown + $20k 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 $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, 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 93 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $21k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $199k implies a 895% 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 $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.80% ✓
• Cap rate: 15.06%
• Cash-on-cash: 31.33%
• DSCR: 2.39
• GRM: 4.6

CMA / ARV

• ARV (median comp): $229,457
• List price: $199,000
• Delta: -13.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 Third Ave	0.03mi	6/2.0	2,957 (-9%)	8mo	$190,000	$64	73
34 E 8th Ave	0.38mi	5/3.0 (-1)	3,320 (+2%)	8mo	$175,000	$53	67
136 Bleecker St	0.34mi	6/3.0	2,976 (-8%)	8mo	$165,000	$55	64
381 N Main St	0.54mi	7/2.0 (+1)	3,206 (-1%)	6mo	$216,300	$67	59
19 Fox St	0.32mi	6/2.0	3,661 (+13%)	5mo	$248,000	$68	56
6 7th Ave	0.28mi	6/2.0	2,822 (-13%)	10mo	$66,000	$23	52
48 Montgomery St	0.60mi	6/2.0	3,040 (-6%)	18mo	$82,000	$27	42
104 Lincoln St	0.63mi	5/2.0 (-1)	2,939 (-10%)	13mo	$140,000	$48	35
44 Forest St	0.63mi	6/2.0	2,760 (-15%)	9mo	$179,000	$65	34
53 Steele Ave	0.71mi	5/3.0 (-1)	2,892 (-11%)	19mo	$153,000	$53	28
31 Steele Ave	0.69mi	5/2.0 (-1)	2,886 (-11%)	20mo	$90,000	$31	24

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: 48.1%
• Equity multiple: 4.61×
• Total profit: $201,075
• Equity at exit: $179,275

10-year hold

• IRR: 41.9%
• Equity multiple: 10.32×
• Total profit: $519,388
• Equity at exit: $386,613

Cash invested: $55,720 (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: 13.9×

Monthly cashflow live

• Estimated rent: $3,582 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$752
• Net cashflow: $1,455

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,582
Total (3 units)			$3,582

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $199,000 Active 93 DOM
2. 2026-06-17
   days on market $199,000 Active 92 DOM
3. 2026-06-16
   days on market $199,000 Active 91 DOM
4. 2026-06-15
   days on market $199,000 Active 90 DOM
5. 2026-06-13
   days on market $199,000 Active 88 DOM
6. 2026-06-12
   pricedays on market $199,000 Active 87 DOM
7. 2026-06-09
   days on market $220,000 Active 84 DOM
8. 2026-06-08
   days on market $220,000 Active 83 DOM
9. 2026-06-07
   days on market $220,000 Active 82 DOM
10. 2026-06-07
    days on market $220,000 Active 81 DOM
11. 2026-06-04
    days on market $220,000 Active 78 DOM
12. 2026-06-02
    days on market $220,000 Active 77 DOM
13. 2026-06-01
    days on market $220,000 Active 76 DOM
14. 2026-05-31
    days on market $220,000 Active 75 DOM
15. 2026-05-06
    status Active 568-char remark

    Show marketing remark (568 chars)

    Excellent Investment Opportunity! three-family property conveniently located near shopping, dining, schools, and transportation. Perfect for investors or owner-occupants, this property features a vacant 3-bedroom apartment, ideal for immediate occupancy or rental income + 2 rented apartments. Recent improvements include newer windows, updated plumbing, and numerous additional upgrades, offering both comfort and long-term value making this a great opportunity to build equity while generating income. Being sold as is, inspections are for buyer's informatio only.

16. 2026-05-05
    historical Contingent 568-char remark

    Show marketing remark (568 chars)

    Excellent Investment Opportunity! three-family property conveniently located near shopping, dining, schools, and transportation. Perfect for investors or owner-occupants, this property features a vacant 3-bedroom apartment, ideal for immediate occupancy or rental income + 2 rented apartments. Recent improvements include newer windows, updated plumbing, and numerous additional upgrades, offering both comfort and long-term value making this a great opportunity to build equity while generating income. Being sold as is, inspections are for buyer's informatio only.

17. 2026-04-28
    status Pending 568-char remark

    Show marketing remark (568 chars)

    Excellent Investment Opportunity! three-family property conveniently located near shopping, dining, schools, and transportation. Perfect for investors or owner-occupants, this property features a vacant 3-bedroom apartment, ideal for immediate occupancy or rental income + 2 rented apartments. Recent improvements include newer windows, updated plumbing, and numerous additional upgrades, offering both comfort and long-term value making this a great opportunity to build equity while generating income. Being sold as is, inspections are for buyer's informatio only.

18. 2026-04-22
    historical Contingent 568-char remark

    Show marketing remark (568 chars)

    Excellent Investment Opportunity! three-family property conveniently located near shopping, dining, schools, and transportation. Perfect for investors or owner-occupants, this property features a vacant 3-bedroom apartment, ideal for immediate occupancy or rental income + 2 rented apartments. Recent improvements include newer windows, updated plumbing, and numerous additional upgrades, offering both comfort and long-term value making this a great opportunity to build equity while generating income. Being sold as is, inspections are for buyer's informatio only.

19. 2026-03-10
    listed $220,000 Active 568-char remark

    Show marketing remark (568 chars)

    Excellent Investment Opportunity! three-family property conveniently located near shopping, dining, schools, and transportation. Perfect for investors or owner-occupants, this property features a vacant 3-bedroom apartment, ideal for immediate occupancy or rental income + 2 rented apartments. Recent improvements include newer windows, updated plumbing, and numerous additional upgrades, offering both comfort and long-term value making this a great opportunity to build equity while generating income. Being sold as is, inspections are for buyer's informatio only.

20. 2016-01-01
    historical
21. 2015-09-10
    listed $59,000 Active
22. 2014-05-16
    soldstatus $20,000
23. 2014-05-06
    historical
24. 2014-03-10
    listed $26,000

ⓘ 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 1/10 Low FEMA zone X · 0% 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: $42,984
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$3,439
• − Management: −$3,439
• − Depreciation: −$5,789
• Taxable income: $15,190
• Est. tax owed @ 24.0%: −$3,646
• After-tax cash flow: $13,809/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 · 12 photos

Fair 45/100 Moderate rehab

This three-family property requires moderate repairs and maintenance to improve its condition and increase its value.

Repairs flagged

• Moderate exterior siding — Visible wear and discoloration
• Moderate interior paint — Some wear and tear
• Moderate kitchen cabinets — Some wear and tear

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both repair/replace kitchen cabinets — Improves functionality and aesthetics
• Both update bathrooms — Modernizes and increases value
• Both replace HVAC units — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Visible wear and discoloration	Moderate	$3,000–15,000
interior paint · Some wear and tear	Moderate	$3,000–15,000
kitchen cabinets · Some wear and tear	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both repair/replace kitchen cabinets — Improves functionality and aesthetics ↑
• Both update bathrooms — Modernizes and increases value ↑
• Both replace HVAC units — Improves comfort and energy efficiency ↑

ⓘ 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

+746.2% since first listed

10 events — show timeline

• 2026-05-06 Relisted — Global MLS
• 2026-05-05 Contingent — Global MLS
• 2026-04-28 Pending — Global MLS
• 2026-04-22 Contingent — Global MLS
• 2026-03-10 Listed $220,000 Global MLS
• 2016-01-01 Listing Removed — Global MLS
• 2015-09-10 Listed $59,000 Global MLS
• 2014-05-16 Sold (MLS) $20,000 Global MLS
• 2014-05-06 Listing Removed — Global MLS
• 2014-03-10 Listed $26,000 Global MLS