42 Garfield St · Glens Falls, NY 12801

$180,000

3 bd · 1.5 ba · 1,232 sqft · SingleFamily public records · 12 Days on market

Built 1936 6,969 sqft lot Est $235k · 24% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +11.4/30.0
• 1% rule +5.3/10.0
• Livability +4.2/5.0
• Schools +4.1/10.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nice colonial close to school and downtown. Garage, Large yard, Full dry basement, Fireplace , Hardwood floors. Great screened in rear porch.

Key facts

• Large yard
• Full dry basement
• Fireplace

Tags

• LARGE YARD
• FULL DRY BASEMENT
• FIREPLACE
• SCREENED IN REAR PORCH

Property features AI

Exterior

• Parking: Attached garage (1-car); Total 2 parking spaces; Driveway parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; 1,313 living area
• Construction: Aluminum siding; Wood siding; Shingle roof; Slate roof
• Exterior features: Rear enclosed porch; Porch; Paved driveway

Interior

• Kitchen: Kitchen on first floor; Appliances: Other
• Bedrooms: Three bedrooms on the second floor
• Flooring: Vinyl; Hardwood; Linoleum
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Natural gas heating
• Interior features: Seven total rooms; Full basement with interior entry; Living room fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-63 ($-752/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (6.1% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.1% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 4.8% in Glens Falls — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Kensington Road School (math 77% / reading 82%, grade A, #188 of 2,108 statewide, top 11%, 280 students, 22% FRL); Glens Falls Middle School (math 25% / reading 46%, grade F, #473 of 729 statewide, top 66%, 588 students, 46% FRL); Glens Falls Senior High School (math 98% / reading 64%, grade A, #485 of 1,100 statewide, top 45%, 601 students, 41% FRL) — zoned schools at 36% FRL track the district average.
• Zoned-school proficiency averages 65% at this address vs 48% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Glens Falls City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 58 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).
• This rent runs 33% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,934 (6.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1936 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 5.88%
• Cash-on-cash: -1.49%
• DSCR: 0.93
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $235,312
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Quade St	0.28mi	3/1.0	1,237 (+0%)	8mo	$234,000	$189	77
24 Goodwin Ave	0.47mi	4/1.5 (+1)	1,257 (+2%)	5mo	$240,000	$191	66
68 1st St	0.72mi	3/1.0	1,266 (+3%)	1mo	$252,000	$199	59
59 First St	0.70mi	3/1.5	1,249 (+1%)	8mo	$90,000	$72	59
174 Upper Sherman Ave	0.52mi	3/2.5	1,298 (+5%)	8mo	$270,000	$208	57
17 Columbia Ave	0.71mi	2/2.0 (-1)	1,232 (0%)	4mo	$289,000	$235	56
8 Sarella St	0.68mi	3/2.0	1,129 (-8%)	2mo	$178,000	$158	51
25 Thomson Ave	0.43mi	3/1.5	1,078 (-12%)	10mo	$259,900	$241	51
15 Holden Ave	0.64mi	2/1.0 (-1)	1,158 (-6%)	5mo	$200,000	$173	49
27 Webster Ave	0.61mi	2/1.0 (-1)	1,150 (-7%)	10mo	$221,000	$192	45
40 Orville St	0.45mi	3/2.5	1,406 (+14%)	10mo	$230,000	$164	44
2 New St	0.74mi	3/1.5	1,059 (-14%)	1mo	$195,000	$184	41

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: -18.6%
• Equity multiple: 0.35×
• Total profit: $-32,958
• Equity at exit: $26,839

10-year hold

• IRR: -10.8%
• Equity multiple: 0.34×
• Total profit: $-33,029
• Equity at exit: $15,563

Cash invested: $50,400 (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 12801

• Home prices YoY: -13.7%
• Active inventory: 58
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,848 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$503 /mo · $6,040/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $-63

Break-even live

Break-even rent $1,927

Max offer price $168,934

Occupancy floor 98%

Sensitivity live

Price	-10% $39	-5% $-12	+0% $-63	+5% $-114	+10% $-165
Rent	-10% $-209	-5% $-136	+0% $-63	+5% $10	+10% $83
Rate	-1.0pp $28	-0.5pp $-17	base $-63	+0.5pp $-109	+1.0pp $-157

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Hunter St Glens Falls, NY	2.0	1.0	1465	$2,200	$1.50	23d	1	0.63mi
173 Bay St Glens Falls, NY	3.0	1.0	1200	$1,795	$1.50	45d	1	0.64mi
26 Grand St Glens Falls, NY	2.0	1.0	792	$1,600	$2.02	16d	1	0.68mi
60-62 Lawrence St Glens Falls, NY	2.0	1.0	1000	$1,650	$1.65	16d	1	1.05mi

Listing history 2 events

1. 2026-06-07
   days on market $180,000 Pending 12 DOM
2. 2026-05-19
   listed $180,000 Active

ⓘ 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: $6,040 · $503/mo
• Projected year-2 tax: $6,040 · $503/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 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: $22,171
• − Mortgage interest: −$10,083
• − Property taxes: −$6,040
• − Insurance: −$900
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − Depreciation: −$5,236
• Taxable loss: −$3,635
• Est. tax savings @ 24.0%: +$872
• After-tax cash flow: $121/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

1 event — show timeline

• 2026-05-19 Listed $180,000 Global MLS

Property tax history

+33.5%/yr

Latest (2025): $6,040 · +31.3% YoY. Source: county tax records.