16 Montcalm St · Glens Falls, NY 12801

$269,000

6 bd · 2.0 ba · 2,049 sqft · MultiFamily public records · 175 Days on market

Built 1889 7,405 sqft lot $131/sqft · 42% below area Est $460k · 42% under

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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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +6.4/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

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

This property represents a great opportunity for an investment or an owner-occupant. The upstairs apartment is currently vacant, and both units have been recently updated. Key features include: Completely pressure washed on 04/30/26 Check out the updated photos !!! - Private entrances (front and rear) for each unit - A detached two-car garage and a clear, private backyard - A large basement for additional space - Centralized location within walking distance to schools and a playground The property currently generates $1,400 per month per unit in income. Please note that the downstairs tenant would like to remain in place.

Key facts

• Centralized location
• Private back yard
• Detached garage

Tags

• PRIVATE BACK YARD
• DETACHED GARAGE
• CENTRALIZED LOCATION
• WALKING DISTANCE TO PLAYGROUND
• WALKING DISTANCE TO SCHOOLS

🏷️ Possibly a rental listed for sale. The $269,000 price doesn't fit this home's estimated sale value (~$460,072) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $269k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $269k).
• Recommended offer: $237k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.8% in Glens Falls — 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 83/100 on livability (#60 in NY, #894 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+.
• Glens Falls City School District (urban): math 44% / reading 53% proficiency, ranked #416 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 56 active listings in the ZIP; 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).
• At $3,067/mo this rent would consume 54% of the median local household income ($68k/yr) (locally 866% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Warren County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 175 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $104k; list at $269k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $236,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 175 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 1889 — 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. 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.
6. 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.
7. 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: 1.14% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 7.3

CMA / ARV

• ARV (median comp): $460,072
• List price: $269,000
• Delta: -41.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Montcalm St	0.01mi	6/2.0	2,093 (+2%)	22mo	$185,000	$88	78
18 Garfield St	0.39mi	6/2.0	1,968 (-4%)	20mo	$251,500	$128	58
36 N Pearl St	0.67mi	6/3.0	1,968 (-4%)	4mo	$315,000	$160	54
21 William St	0.70mi	5/2.0 (-1)	1,947 (-5%)	8mo	$171,000	$88	47
112 Crandall St	0.53mi	5/2.5 (-1)	2,261 (+10%)	9mo	$320,000	$142	44
11 William St	0.68mi	5/2.0 (-1)	1,940 (-5%)	16mo	$250,000	$129	41
16 William St	0.71mi	6/2.0	2,162 (+6%)	20mo	$153,000	$71	41
95 Bay St	0.54mi	5/3.0 (-1)	2,242 (+9%)	13mo	$255,000	$114	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-15,556
• Equity at exit: $40,109

10-year hold

• IRR: 4.2%
• Equity multiple: 1.30×
• Total profit: $22,895
• Equity at exit: $23,258

Cash invested: $75,320 (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 12801

• Home prices YoY: -13.7%
• Active inventory: 56
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $3,067 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$462 /mo · $5,544/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $438

Break-even live

Break-even rent $2,512

Max offer price $269,000

Occupancy floor 81%

Sensitivity live

Price	-10% $590	-5% $514	+0% $438	+5% $362	+10% $286
Rent	-10% $196	-5% $317	+0% $438	+5% $559	+10% $681
Rate	-1.0pp $574	-0.5pp $507	base $438	+0.5pp $369	+1.0pp $298

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,066
Total (2 units)			$3,067

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $269,000 Active 175 DOM
2. 2026-06-18
   days on market $269,000 Active 174 DOM
3. 2026-06-17
   days on market $269,000 Active 173 DOM
4. 2026-06-16
   days on market $269,000 Active 172 DOM
5. 2026-06-15
   days on market $269,000 Active 171 DOM
6. 2026-06-14
   days on market $269,000 Active 169 DOM
7. 2026-06-12
   days on market $269,000 Active 168 DOM
8. 2026-06-09
   days on market $269,000 Active 165 DOM
9. 2026-06-08
   days on market $269,000 Active 164 DOM
10. 2026-06-07
    days on market $269,000 Active 163 DOM
11. 2026-06-04
    days on market $269,000 Active 159 DOM
12. 2026-06-02
    days on market $269,000 Active 158 DOM
13. 2026-06-01
    days on market $269,000 Active 157 DOM
14. 2026-05-31
    days on market $269,000 Active 156 DOM
15. 2026-05-31
    days on market $269,000 Active 155 DOM
16. 2026-05-04
    price $269,000 647-char remark

    Show marketing remark (647 chars)

    This property represents a great opportunity for an investment or an owner-occupant. The upstairs apartment is currently vacant, and both units have been recently updated. Key features include: Completely pressure washed on 04/30/26 Check out the updated photos !!! - Private entrances (front and rear) for each unit - A detached two-car garage and a clear, private backyard - A large basement for additional space - Centralized location within walking distance to schools and a playground The property currently generates $1,400 per month per unit in income. Please note that the downstairs tenant would like to remain in place.

17. 2025-12-26
    listed $279,000 Active 647-char remark

    Show marketing remark (647 chars)

    This property represents a great opportunity for an investment or an owner-occupant. The upstairs apartment is currently vacant, and both units have been recently updated. Key features include: Completely pressure washed on 04/30/26 Check out the updated photos !!! - Private entrances (front and rear) for each unit - A detached two-car garage and a clear, private backyard - A large basement for additional space - Centralized location within walking distance to schools and a playground The property currently generates $1,400 per month per unit in income. Please note that the downstairs tenant would like to remain in place.

18. 2014-08-18
    soldstatus $104,000
19. 2014-08-12
    soldstatus $104,000 259-char remark

    Show marketing remark (259 chars)

    Completely redone and in VERY nice condition. Freshly painted throughout, refinished hardwood floors. Tenants pay for water, separate utilities and are responsible for lawn and snow. Easy to be a landlord here, tenants can just move right into the upper unit.

20. 2012-07-25
    listed $109,900 259-char remark

    Show marketing remark (259 chars)

    Completely redone and in VERY nice condition. Freshly painted throughout, refinished hardwood floors. Tenants pay for water, separate utilities and are responsible for lawn and snow. Easy to be a landlord here, tenants can just move right into the upper unit.

21. 2007-01-10
    soldstatus $98,000
22. 2006-12-29
    soldstatus $98,000
23. 2006-09-12
    listed $115,000

ⓘ 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: $5,544 · $462/mo
• Projected year-2 tax: $5,544 · $462/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $36,804
• − Mortgage interest: −$15,068
• − Property taxes: −$5,544
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,944
• − Management: −$2,944
• − Depreciation: −$7,825
• Taxable income: $1,133
• Est. tax owed @ 24.0%: −$272
• After-tax cash flow: $4,987/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: Glens Falls City School District
• NCES district ID: 3612240
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 53% ▲ 6.00%
• Median HH income: $48,216
• Composite: 41.34/100
• National rank: #3499
• State rank: #416 of 590 in NY

Livability — Glens Falls

• Score: 83/100
• State rank: #60
• US rank: #894

Category grades

Amenities A+ Commute C Cost of living B Crime A+ Employment C Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glens Falls, NY
• County: Warren County · 14,628 people
• City population: 14,628
• Metro: Glens Falls, NY
• Population (ZIP): 14,628
• Household income: $67,577
• Rent vs Own: 47.6% rent · 52.4% own
• Severe rent burden: 866.0

Population outlook (Warren County) Hauer SSP2

• Today (2025): 62,372 people
• By 2030: 60,491 · -3.0%
• By 2040: 55,616 · -10.8%
• By 2050: 50,437 · -19.1%
• By 2075: 40,843 · -34.5%
• By 2100: 31,159 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 9% Romanian 5% Slovak 5%
• Foreign-born: 3% · Canada, Dominican Republic
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Warren

• 2024 margin: Toss-up / Even · D 47.9% · R 52.1%
• 2008→2024 swing: -6.9pp toward R · 2008: 2.6pp · 2024: -4.2pp
• All cycles: 2024: R+4.2 2020: R+0.2 2016: R+10.6 2012: D+2.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.28%
• Current HPI: 330.581
• Rent YoY: —
• Metro: Glens Falls, NY
• 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

+133.9% since first listed

8 events — show timeline

• 2026-05-04 Price Changed $269,000 Global MLS
• 2025-12-26 Listed $279,000 Global MLS
• 2014-08-18 Sold (Public Records) $104,000 Public Records
• 2014-08-12 Sold (MLS) $104,000 Global MLS
• 2012-07-25 Listed $109,900 Global MLS
• 2007-01-10 Sold (Public Records) $98,000 Public Records
• 2006-12-29 Sold (MLS) $98,000 Global MLS
• 2006-09-12 Listed $115,000 Global MLS

Property tax history

+9.6%/yr

Latest (2025): $5,544 · +1.0% YoY. Source: county tax records.