167 Bleecker St · Gloversville, NY 12078

$130,000

5 bd · 5.0 ba · 5,193 sqft · MultiFamily public records · 138 Days on market

Built 1940 0.33 ac lot $25/sqft · 56% below area Est $198k · 34% under

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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 +23.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.4/10.0
• 1% rule +7.1/10.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Grand, historic charm meets endless potential in this stately old home, rich with character and possibility. Once a single-family residence and later converted into multiple apartments, this property offers a rare opportunity to restore to its original grandeur or reconfigure it once again as an income producing multi-unit. Major improvements are already in place, including a brand-new roof and new windows, providing peace of mind while preserving the home's timeless appeal. Generous room sizes, tall ceilings, and classic architectural details hint at the elegance this home once held - and could hold again. An additional vacant lot is included, offering valuable flexibility: create an expansive private yard for a single-family residence, or utilize the space for off-street parking should the property be converted back to apartments. Whether you envision a grand single-family home, a multi-unit investment or a thoughtful blend of both, this property is a canvas ready for its next chapter.

Key facts

• Brand new roof
• Historic charm
• Major improvements

Tags

• HISTORIC CHARM
• MAJOR IMPROVEMENTS
• BRAND NEW ROOF
• NEW WINDOWS
• ADDITIONAL VACANT LOT
• EXPANSIVE PRIVATE YARD

What this means for you Summary

Snapshot

• This is a 5-bed/5.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/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: 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 $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 ~3 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 138 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $80k; list at $130k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.21% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 6.9

CMA / ARV

• ARV (median comp): $197,875
• List price: $130,000
• Delta: -34.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Broadway	0.50mi	4/2.0 (-1)	5,037 (-3%)	2mo	$240,000	$48	53

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: 29.9%
• Equity multiple: 3.35×
• Total profit: $85,620
• Equity at exit: $117,114

10-year hold

• IRR: 25.9%
• Equity multiple: 7.61×
• Total profit: $240,742
• Equity at exit: $252,561

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: 165
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,573 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$276 /mo · $3,307/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $231

Break-even live

Break-even rent $1,280

Max offer price $130,000

Occupancy floor 80%

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: —

Listing history 30 events

1. 2026-06-12
   statusdays on market $130,000 Pending 138 DOM
2. 2026-06-09
   days on market $130,000 Active 137 DOM
3. 2026-06-08
   days on market $130,000 Active 136 DOM
4. 2026-06-07
   days on market $130,000 Active 135 DOM
5. 2026-06-07
   days on market $130,000 Active 134 DOM
6. 2026-06-04
   days on market $130,000 Active 131 DOM
7. 2026-06-02
   days on market $130,000 Active 130 DOM
8. 2026-06-01
   days on market $130,000 Active 129 DOM
9. 2026-05-31
   days on market $130,000 Active 128 DOM
10. 2026-01-23
    listed $130,000 Active 1012-char remark

    Show marketing remark (1012 chars)

    Grand, historic charm meets endless potential in this stately old home, rich with character and possibility. Once a single-family residence and later converted into multiple apartments, this property offers a rare opportunity to restore to its original grandeur or reconfigure it once again as an income producing multi-unit. Major improvements are already in place, including a brand-new roof and new windows, providing peace of mind while preserving the home's timeless appeal. Generous room sizes, tall ceilings, and classic architectural details hint at the elegance this home once held - and could hold again. An additional vacant lot is included, offering valuable flexibility: create an expansive private yard for a single-family residence, or utilize the space for off-street parking should the property be converted back to apartments. Whether you envision a grand single-family home, a multi-unit investment or a thoughtful blend of both, this property is a canvas ready for its next chapter.

11. 2023-12-08
    soldstatus $80,000
12. 2023-12-04
    soldstatus $68,000 Closed 275-char remark

    Show marketing remark (275 chars)

    Investors delight ,Good Investment , Legal Six Dwelling ,all Vacant , Low property Tax , Many Parking Spaces, Need Work , Quite Location And Easy To Rent , No Rent Control, Free market Rent , two separate garage ,Buy as it , Cash deal ,Convenient To All , Good Rental Income.

13. 2023-09-18
    status Pending 275-char remark

    Show marketing remark (275 chars)

    Investors delight ,Good Investment , Legal Six Dwelling ,all Vacant , Low property Tax , Many Parking Spaces, Need Work , Quite Location And Easy To Rent , No Rent Control, Free market Rent , two separate garage ,Buy as it , Cash deal ,Convenient To All , Good Rental Income.

14. 2023-07-28
    listed $79,900 Active 275-char remark

    Show marketing remark (275 chars)

    Investors delight ,Good Investment , Legal Six Dwelling ,all Vacant , Low property Tax , Many Parking Spaces, Need Work , Quite Location And Easy To Rent , No Rent Control, Free market Rent , two separate garage ,Buy as it , Cash deal ,Convenient To All , Good Rental Income.

15. 2019-04-29
    soldstatus $120,000
16. 2019-02-11
    historical
17. 2019-02-06
    price $120,000
18. 2019-01-17
    price $150,000
19. 2019-01-03
    price $149,000
20. 2018-10-13
    listed $250,000 New
21. 2016-03-04
    soldstatus $60,000
22. 2016-03-02
    soldstatus $60,000 Closed (Final Sale)
23. 2016-02-16
    status Pend (Under Cntr)
24. 2015-09-10
    listed $99,900 Active
25. 2008-12-22
    soldstatus $110,000
26. 2008-12-18
    soldstatus $110,000
27. 2008-11-26
    historical
28. 2008-04-08
    listed $125,000
29. 2007-02-27
    soldstatus $84,800
30. 2004-10-21
    soldstatus $54,000

ⓘ 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: $3,307 · $276/mo
• Projected year-2 tax: $3,307 · $276/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 16 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: $18,876
• − Mortgage interest: −$7,282
• − Property taxes: −$3,307
• − Insurance: −$650
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − Depreciation: −$3,782
• Taxable income: $835
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $2,574/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

+140.7% since first listed

21 events — show timeline

• 2026-01-23 Listed $130,000 Global MLS
• 2023-12-08 Sold (Public Records) $80,000 Public Records
• 2023-12-04 Sold (MLS) $68,000 OneKey® MLS as Distributed by MLS Grid
• 2023-09-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-07-28 Listed $79,900 OneKey® MLS as Distributed by MLS Grid
• 2019-04-29 Sold (Public Records) $120,000 Public Records
• 2019-02-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-02-06 Price Changed $120,000 OneKey® MLS as Distributed by MLS Grid
• 2019-01-17 Price Changed $150,000 OneKey® MLS as Distributed by MLS Grid
• 2019-01-03 Price Changed $149,000 OneKey® MLS as Distributed by MLS Grid
• 2018-10-13 Listed $250,000 OneKey® MLS as Distributed by MLS Grid
• 2016-03-04 Sold (Public Records) $60,000 Public Records
• 2016-03-02 Sold (MLS) $60,000 Global MLS
• 2016-02-16 Pending — Global MLS
• 2015-09-10 Listed $99,900 Global MLS
• 2008-12-22 Sold (Public Records) $110,000 Public Records
• 2008-12-18 Sold (MLS) $110,000 Global MLS
• 2008-11-26 Listing Removed — Global MLS
• 2008-04-08 Listed $125,000 Global MLS
• 2007-02-27 Sold (Public Records) $84,800 Public Records
• 2004-10-21 Sold (Public Records) $54,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $3,307 · +5.4% YoY. Source: county tax records.