207 Main St · South Glens Falls, NY 12803

$299,900

4 bd · 3.0 ba · 1,936 sqft · MultiFamily public records · 4 Days on market

Built 1853 9,583 sqft lot $155/sqft · 6% below area Est $318k · 6% 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 +10.0/15.0
• Appreciation +8.9/10.0
• Cash flow +5.1/30.0
• Schools +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• DSCR +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

Completely reimagined and beautifully restored, this 3-bedroom, 3 full bath home in the heart of South Glens Falls offers the perfect blend of character, versatility, and modern living. Set on a .22-acre lot, this home has been taken down to the studs and thoughtfully remodeled into a stunning single-family residence with an in-law setup--ideal for multi-generational living or potential income. The main level features a spacious and inviting layout with a bright living room, a beautifully updated kitchen complete with island and breakfast bar, formal dining area, cozy office nook, first-floor primary bedroom, full bath, and convenient laundry. Don't miss the charming kids' nook tucked beneath the stairs--a truly unique touch! Upstairs, you'll find a generously sized bedroom and full bath, along with a separate living space offering its own kitchenette, living room, bedroom, and full bath--perfect for extended family or easily converted back into a two-family, income-producing property. The choice is yours! Step outside to your own gardener's oasis, featuring multi-tiered decking, abundant shed space, and dedicated potting areas. A one-car garage with an expansive workshop and additional upper-level storage adds even more functionality. A rare opportunity in a convenient location--this one truly has it all!

Key facts

• One car garage
• In law setup
• Multi tiered decking

Tags

• IN LAW SETUP
• KIDS NOOK
• GARDENER'S OASIS
• MULTI TIERED DECKING
• POTTING AREAS
• ONE CAR GARAGE

Property features AI

Exterior

• Parking: Attached garage (1 car); Additional paved off-street parking for a total of 7 spaces; Driveway; Workshop in garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Updated/remodeled; Living area approximately 1,936; Level lot, landscaped with road frontage
• Construction: Shingle roof; Drywall and vinyl siding construction
• Exterior features: Rear covered porch; Front porch; Paved driveway; Garden; Back yard fencing; Shed(s); Workshop

Interior

• Kitchen: Kitchen on the first floor; In-law kitchen on the second floor; Dishwasher; Range; Range hood; Refrigerator
• Bedrooms: Primary bedroom on the first floor; Additional bedrooms on the second floor; Second-floor in-law bedroom
• Flooring: Ceramic tile; Hardwood
• Bathrooms: Three full bathrooms (one on the first floor, two on the second floor)
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas
• Interior features: Paddle fan; Built-in features; Ceramic tile bath; Full basement with interior entry; 10 total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $-693 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (40.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (46.4% below list).
• Recommended offer: $161k (46.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#331 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime B+; Watch: amenities F, commute 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: Harrison Avenue Elementary School (math 42% / reading 62%, grade C-, #988 of 2,108 statewide, top 49%, 264 students, 53% FRL); South Glens Falls Senior High School (math 92% / reading 91%, grade A+, #197 of 1,100 statewide, top 18%, 908 students, 36% FRL) — zoned schools average 44% FRL vs 22% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 72% at this address vs 54% district-wide (+18 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).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (7.9% local appreciation)).
• Saratoga County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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 $75k; list at $300k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1853 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,865 (46.4% 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 1853 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.54% ✗
• Cap rate: 3.52%
• Cash-on-cash: -9.90%
• DSCR: 0.56
• GRM: 15.5

CMA / ARV

• ARV (median comp): $317,659
• List price: $299,900
• Delta: -5.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
46 Jackson Ave	0.12mi	4/2.0	1,898 (-2%)	9mo	$210,000	$111	80
10 Fifth St	0.46mi	4/2.0	1,780 (-8%)	18mo	$205,000	$115	46

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

Projected returns pro-forma

7.89% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.92×
• Total profit: $77,164
• Equity at exit: $225,500

10-year hold

• IRR: 12.8%
• Equity multiple: 4.05×
• Total profit: $256,515
• Equity at exit: $445,400

Cash invested: $83,972 (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 12803

• Home prices YoY: 2.3%
• Active inventory: 32
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $1,609 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$266 /mo · $3,193/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $-693

Break-even live

Break-even rent $2,486

Max offer price $177,489

Occupancy floor —

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-05
   status Pending 1331-char remark

   Show marketing remark (1331 chars)

   Completely reimagined and beautifully restored, this 3-bedroom, 3 full bath home in the heart of South Glens Falls offers the perfect blend of character, versatility, and modern living. Set on a .22-acre lot, this home has been taken down to the studs and thoughtfully remodeled into a stunning single-family residence with an in-law setup--ideal for multi-generational living or potential income. The main level features a spacious and inviting layout with a bright living room, a beautifully updated kitchen complete with island and breakfast bar, formal dining area, cozy office nook, first-floor primary bedroom, full bath, and convenient laundry. Don't miss the charming kids' nook tucked beneath the stairs--a truly unique touch! Upstairs, you'll find a generously sized bedroom and full bath, along with a separate living space offering its own kitchenette, living room, bedroom, and full bath--perfect for extended family or easily converted back into a two-family, income-producing property. The choice is yours! Step outside to your own gardener's oasis, featuring multi-tiered decking, abundant shed space, and dedicated potting areas. A one-car garage with an expansive workshop and additional upper-level storage adds even more functionality. A rare opportunity in a convenient location--this one truly has it all!

2. 2026-05-05
   status Pending 1331-char remark

   Show marketing remark (1331 chars)

   Completely reimagined and beautifully restored, this 3-bedroom, 3 full bath home in the heart of South Glens Falls offers the perfect blend of character, versatility, and modern living. Set on a .22-acre lot, this home has been taken down to the studs and thoughtfully remodeled into a stunning single-family residence with an in-law setup--ideal for multi-generational living or potential income. The main level features a spacious and inviting layout with a bright living room, a beautifully updated kitchen complete with island and breakfast bar, formal dining area, cozy office nook, first-floor primary bedroom, full bath, and convenient laundry. Don't miss the charming kids' nook tucked beneath the stairs--a truly unique touch! Upstairs, you'll find a generously sized bedroom and full bath, along with a separate living space offering its own kitchenette, living room, bedroom, and full bath--perfect for extended family or easily converted back into a two-family, income-producing property. The choice is yours! Step outside to your own gardener's oasis, featuring multi-tiered decking, abundant shed space, and dedicated potting areas. A one-car garage with an expansive workshop and additional upper-level storage adds even more functionality. A rare opportunity in a convenient location--this one truly has it all!

3. 2026-05-01
   listed $299,900 Active 1331-char remark

   Show marketing remark (1331 chars)

   Completely reimagined and beautifully restored, this 3-bedroom, 3 full bath home in the heart of South Glens Falls offers the perfect blend of character, versatility, and modern living. Set on a .22-acre lot, this home has been taken down to the studs and thoughtfully remodeled into a stunning single-family residence with an in-law setup--ideal for multi-generational living or potential income. The main level features a spacious and inviting layout with a bright living room, a beautifully updated kitchen complete with island and breakfast bar, formal dining area, cozy office nook, first-floor primary bedroom, full bath, and convenient laundry. Don't miss the charming kids' nook tucked beneath the stairs--a truly unique touch! Upstairs, you'll find a generously sized bedroom and full bath, along with a separate living space offering its own kitchenette, living room, bedroom, and full bath--perfect for extended family or easily converted back into a two-family, income-producing property. The choice is yours! Step outside to your own gardener's oasis, featuring multi-tiered decking, abundant shed space, and dedicated potting areas. A one-car garage with an expansive workshop and additional upper-level storage adds even more functionality. A rare opportunity in a convenient location--this one truly has it all!

4. 2026-05-01
   listed $299,900 Active 1331-char remark

   Show marketing remark (1331 chars)

   Completely reimagined and beautifully restored, this 3-bedroom, 3 full bath home in the heart of South Glens Falls offers the perfect blend of character, versatility, and modern living. Set on a .22-acre lot, this home has been taken down to the studs and thoughtfully remodeled into a stunning single-family residence with an in-law setup--ideal for multi-generational living or potential income. The main level features a spacious and inviting layout with a bright living room, a beautifully updated kitchen complete with island and breakfast bar, formal dining area, cozy office nook, first-floor primary bedroom, full bath, and convenient laundry. Don't miss the charming kids' nook tucked beneath the stairs--a truly unique touch! Upstairs, you'll find a generously sized bedroom and full bath, along with a separate living space offering its own kitchenette, living room, bedroom, and full bath--perfect for extended family or easily converted back into a two-family, income-producing property. The choice is yours! Step outside to your own gardener's oasis, featuring multi-tiered decking, abundant shed space, and dedicated potting areas. A one-car garage with an expansive workshop and additional upper-level storage adds even more functionality. A rare opportunity in a convenient location--this one truly has it all!

5. 2016-12-09
   soldstatus $75,000
6. 2013-10-01
   historical
7. 2012-08-31
   listed $109,900

ⓘ 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: $3,193 · $266/mo
• Projected year-2 tax: $4,131 · $344/mo
• Expected delta: +$938/yr (+$78/mo · 29.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 72% 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: $19,304
• − Mortgage interest: −$16,799
• − Property taxes: −$3,193
• − Insurance: −$1,500
• − Repairs & maintenance: −$1,544
• − Management: −$1,544
• − Depreciation: −$8,724
• Taxable loss: −$14,001
• Est. tax savings @ 24.0%: +$3,360
• After-tax cash flow: $-4,955/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: South Glens Falls Central School District
• NCES district ID: 3627240
• Math proficiency: 49% ▼ -9.00%
• Reading proficiency: 59% ▲ 12.00%
• Median HH income: $59,015
• Composite: 46.93/100
• National rank: #2363
• State rank: #307 of 590 in NY

Livability — South Glens Falls

• Score: 73/100
• State rank: #331
• US rank: #5457

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Glens Falls, NY
• City population: 8,915
• Population (ZIP): 8,915

Population outlook (Saratoga County) Hauer SSP2

• Today (2025): 238,889 people
• By 2030: 243,681 · +2.0%
• By 2040: 249,118 · +4.3%
• By 2050: 248,638 · +4.1%
• By 2075: 241,675 · +1.2%
• By 2100: 213,150 · -10.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 2%
• Foreign-born: 1% · South Korea
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 0%

Political lean MEDSL · Saratoga

• 2024 margin: Toss-up / Even · D 50.9% · R 49.1%
• 2008→2024 swing: -1.6pp toward R · 2008: 3.4pp · 2024: 1.8pp
• All cycles: 2024: D+1.8 2020: D+5.4 2016: R+4.4 2012: D+2.1 2008: D+3.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.89%
• Current HPI: 349.2844
• 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

+172.9% since first listed

7 events — show timeline

• 2026-05-05 Pending — Global MLS
• 2026-05-05 Pending — Global MLS
• 2026-05-01 Listed $299,900 Global MLS
• 2026-05-01 Listed $299,900 Global MLS
• 2016-12-09 Sold (Public Records) $75,000 Public Records
• 2013-10-01 Listing Removed — Global MLS
• 2012-08-31 Listed $109,900 Global MLS

Property tax history

+2.5%/yr

Latest (2025): $3,193 · +6.2% YoY. Source: county tax records.