14 Stevens St · Glens Falls, NY 12801

$105,000

4 bd · 2.0 ba · 1,792 sqft · MultiFamily public records · 136 Days on market

Built 2026 4,791 sqft lot ↓ 12% since listing

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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
• ARV discount +7.5/15.0
• 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

Prime location! That is all you will think pulling up to this lot to build your new home. You couldn't ask for a better location in this walking district. There are not too many spot like this available. Previously this had a duplex on site and the Garage is remaining. The land had been filled in since the fire and is ready to be built on.

Key facts

• Garage remaining
• Walking district
• Prime location

Tags

• PRIME LOCATION
• WALKING DISTRICT
• GARAGE REMAINING
• LAND READY TO BE BUILT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.8% 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; 1 comparable units currently listed for rent nearby; 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).
• This rent runs 39% 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 $726 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.09% ✓
• Cap rate: 17.83%
• Cash-on-cash: 41.22%
• DSCR: 2.83
• GRM: 4.0

CMA / ARV

• ARV (median comp): $273,386
• List price: $105,000
• Delta: -61.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
89 Montcalm St	0.07mi	4/3.0	1,792 (0%)	18mo	$274,900	$153	78
65 1st St	0.30mi	4/3.0	1,792 (0%)	6mo	$297,900	$166	77
143 Sherman Ave	0.18mi	3/2.0 (-1)	1,711 (-4%)	13mo	$280,000	$164	68
20 Elizabeth St	0.26mi	4/2.5	1,867 (+4%)	17mo	$330,000	$177	65
26 Knight St	0.71mi	4/2.0	1,634 (-9%)	2mo	$152,000	$93	51
33 Grant Ave	0.50mi	4/2.0	1,688 (-6%)	24mo	$290,000	$172	47
5 Division St	0.46mi	4/2.0	1,624 (-9%)	19mo	$120,000	$74	47
7 Mission St	0.29mi	5/2.0 (+1)	1,576 (-12%)	19mo	$185,000	$117	45
5 Second St	0.52mi	3/2.0 (-1)	1,700 (-5%)	22mo	$229,000	$135	44

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: 37.8%
• Equity multiple: 2.61×
• Total profit: $47,336
• Equity at exit: $15,656

10-year hold

• IRR: 44.3%
• Equity multiple: 5.22×
• Total profit: $124,173
• Equity at exit: $9,078

Cash invested: $29,400 (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: 56
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,197 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $1,010

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 49%

Sensitivity live

Price	-10% $1,082	-5% $1,046	+0% $1,010	+5% $974	+10% $937
Rent	-10% $836	-5% $923	+0% $1,010	+5% $1,097	+10% $1,183
Rate	-1.0pp $1,063	-0.5pp $1,037	base $1,010	+0.5pp $983	+1.0pp $955

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
492 Glen St Glens Falls, NY	3.0	1.5	1912	$2,650	$1.39	44d	1	0.64mi

Listing history 17 events

1. 2026-06-19
   days on market $105,000 Active 136 DOM
2. 2026-06-18
   days on market $105,000 Active 135 DOM
3. 2026-06-17
   days on market $105,000 Active 134 DOM
4. 2026-06-16
   days on market $105,000 Active 133 DOM
5. 2026-06-15
   days on market $105,000 Active 132 DOM
6. 2026-06-14
   days on market $105,000 Active 130 DOM
7. 2026-06-12
   days on market $105,000 Active 129 DOM
8. 2026-06-09
   days on market $105,000 Active 126 DOM
9. 2026-06-08
   days on market $105,000 Active 125 DOM
10. 2026-06-07
    days on market $105,000 Active 124 DOM
11. 2026-06-04
    days on market $105,000 Active 120 DOM
12. 2026-06-02
    days on market $105,000 Active 119 DOM
13. 2026-06-01
    days on market $105,000 Active 118 DOM
14. 2026-05-31
    days on market $105,000 Active 117 DOM
15. 2026-05-31
    days on market $105,000 Active 116 DOM
16. 2026-04-14
    price $105,000 341-char remark

    Show marketing remark (341 chars)

    Prime location! That is all you will think pulling up to this lot to build your new home. You couldn't ask for a better location in this walking district. There are not too many spot like this available. Previously this had a duplex on site and the Garage is remaining. The land had been filled in since the fire and is ready to be built on.

17. 2026-02-03
    listed $120,000 Active 341-char remark

    Show marketing remark (341 chars)

    Prime location! That is all you will think pulling up to this lot to build your new home. You couldn't ask for a better location in this walking district. There are not too many spot like this available. Previously this had a duplex on site and the Garage is remaining. The land had been filled in since the fire and is ready to be built on.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $26,362
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$2,109
• − Management: −$2,109
• − Depreciation: −$3,055
• Taxable income: $11,108
• Est. tax owed @ 24.0%: −$2,666
• After-tax cash flow: $9,452/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

-12.5% since first listed

2 events — show timeline

• 2026-04-14 Price Changed $105,000 Global MLS
• 2026-02-03 Listed $120,000 Global MLS

Property tax history

+10.5%/yr

Latest (2025): $5,664 · +1.0% YoY. Source: county tax records.