140 Clark Rd

West Glens Falls, NY 12803

$110,000B+

3 bd · 1.0 ba · 1,520 sqft · Built 1963 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,461/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$307
• Net cashflow: $394/mo
• Annual: $4,733/yr
• Cap rate: 10.60%
• Cash-on-cash: 15.37%
• DSCR: 1.68
• 1% rule: 1.33%
• Cash to close: $30,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $110k. Condition is rated poor.
• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $9k of equity ($761 loan paydown + $9k appreciation (7.9% local appreciation)).
• Location reads 71/100 on livability (#388 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, cost of living C-, amenities F.
• South Glens Falls Central School District (suburban): math 49% / reading 59% proficiency, ranked #307 of 590 in NY (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: South Glens Falls Senior High School (math 92% / reading 91%, grade A+, #197 of 1,100 statewide, top 18%, 908 students, 36% FRL).
• Zoned-school proficiency averages 92% at this address vs 54% district-wide (+38 pts) — the actual schools serving this property are materially stronger than the South Glens Falls Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 32 active listings in the ZIP; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 10.6% vs local median 2.4% in West 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof appears to have significant damage.
• Major: exterior siding — The exterior siding is peeling and in poor condition.
• Major: flooring — The flooring in the kitchen and living room appears worn and in need of replacement.
• Major: interior walls/paint — The interior walls and paint appear to be in poor condition, with peeling paint and discoloration.
• Major: HVAC system — The HVAC system appears to be in poor condition, with visible wear and tear on the electrical panel and components.
• Major: landscaping — The landscaping is overgrown and in poor condition, with weeds and debris visible.