26 Thompson Ave · Gloversville, NY 12078

$34,900

2 bd · 1.0 ba · 1,117 sqft · SingleFamily public records · 20 Days on market

Built 1930 10,018 sqft lot ↓ 18% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investor Special! Opportunity to renovate this home and make it your own! Awesome potential with great upside. This is a 1 bed, 1 bath, 1,117 sq ft home. Being sold as is. This will sell fast. Assignment Listing.

Key facts

• 0.23 acre lot
• Parking
• Built 1930

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 30.3% vs local median 8.6% 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: 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: Gloversville High School (math 82% / reading 77%, grade A-, #518 of 1,100 statewide, top 51%, 697 students, 71% FRL) — zoned schools average 71% FRL vs 54% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 80% at this address vs 34% district-wide (+46 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($241 loan paydown + $3k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,376 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 3.48% ✓
• Cap rate: 30.32%
• Cash-on-cash: 85.82%
• DSCR: 4.82
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $135,157
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Clyde St	0.28mi	2/1.0	1,125 (+1%)	3mo	$103,000	$92	83
6 Woodward Ave	0.21mi	3/1.0 (+1)	1,100 (-2%)	1mo	$140,000	$127	82
22 Woodward Ave	0.27mi	2/1.5	1,230 (+10%)	3mo	$149,000	$121	66
3 Hawk St	0.24mi	2/1.5	1,224 (+10%)	6mo	$160,000	$131	66
65 Park St	0.53mi	2/2.0	1,142 (+2%)	4mo	$99,000	$87	64
48 Saratoga Blvd	0.48mi	3/1.0 (+1)	1,137 (+2%)	18mo	$156,900	$138	54
62 3rd Ave	0.46mi	3/2.0 (+1)	1,209 (+8%)	3mo	$135,000	$112	53
6 East Blvd	0.50mi	3/1.5 (+1)	1,080 (-3%)	19mo	$95,000	$88	49
72 Park St	0.57mi	3/1.5 (+1)	1,272 (+14%)	4mo	$131,000	$103	40
194 Prospect Ave	0.65mi	3/1.0 (+1)	1,018 (-9%)	16mo	$125,000	$123	36
120 East Blvd	0.75mi	3/1.5 (+1)	1,200 (+7%)	15mo	$180,000	$150	33
62 Temple St	0.75mi	3/1.5 (+1)	1,284 (+15%)	18mo	$20,000	$16	18

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: 95.3%
• Equity multiple: 7.50×
• Total profit: $63,550
• Equity at exit: $31,441

10-year hold

• IRR: 90.3%
• Equity multiple: 16.57×
• Total profit: $152,198
• Equity at exit: $67,803

Cash invested: $9,772 (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: 2.4×

Monthly cashflow live

• Estimated rent: $1,213 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$62 /mo · $743/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $699

Break-even live

Break-even rent $328

Max offer price $34,900

Occupancy floor 37%

Sensitivity live

Price	-10% $719	-5% $709	+0% $699	+5% $689	+10% $679
Rent	-10% $603	-5% $651	+0% $699	+5% $747	+10% $795
Rate	-1.0pp $716	-0.5pp $708	base $699	+0.5pp $690	+1.0pp $681

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Fremont St Gloversville, NY	2.0–3.0	1.5–2.0	1612	$1,425	$0.88	44d	3	0.37mi
130 Spring St Gloversville, NY	1.0	1.0	950	$995	$1.05	44d	1	0.86mi
4 Fruit St Unit 2 Gloversville, NY	2.0	1.0	850	$995	$1.17	44d	1	0.91mi

Listing history 4 events

1. 2025-12-03
   status Pending
2. 2025-11-13
   listed $34,900 Active
3. 2011-06-20
   historical
4. 2010-10-19
   listed $42,500

ⓘ 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: $743 · $62/mo
• Projected year-2 tax: $743 · $62/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: $14,558
• − Mortgage interest: −$1,955
• − Property taxes: −$743
• − Insurance: −$174
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$1,015
• Taxable income: $8,341
• Est. tax owed @ 24.0%: −$2,002
• After-tax cash flow: $6,385/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

-17.9% since first listed

4 events — show timeline

• 2025-12-03 Pending — Global MLS
• 2025-11-13 Listed $34,900 Global MLS
• 2011-06-20 Listing Removed — Global MLS
• 2010-10-19 Listed $42,500 Global MLS

Property tax history

+4.2%/yr

Latest (2025): $743 · +17.0% YoY. Source: county tax records.