23 Hudson St · South Glens Falls, NY 12803

$144,000

4 bd · 1.5 ba · 2,008 sqft · SingleFamily public records · 34 Days on market

Built 1901 0.35 ac lot $72/sqft · 48% below area Est $278k · 48% under

---

Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.9/10.0
• Schools +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Restore this home to its natural beauty! Packed with potential and full of opportunity, this South Glens Falls investor special is now completely vacant and ready for its next owners. Situated on a deep . 35-acre village lot, this spacious 2,000+ sq ft home offers the perfect canvas for your next flip, renovation project, or long-term investment. With solid square footage, flexible layout options, and strong upside potential, this property is ready for someone with vision to bring it back to life. Sweat equity could transform this into a stunning home or profitable resale opportunity. Bring your ideas and unlock the value this property has to offer! Property sold as is

Key facts

• 0.35 acre lot
• Parking
• Built 1901

Tags

• DEEP .35-ACRE VILLAGE LOT
• SPACIOUS 2000+ SQ FT HOME
• FLEXIBLE LAYOUT OPTIONS

Property features AI

Exterior

• Parking: One parking space
• Utilities: Public water; Public sewer
• Home design: Single family residence; Clapboard exterior
• Construction: Clapboard construction
• Exterior features: 0.35-acre lot

Interior

• Kitchen: Kitchen on the first floor; Includes appliances (other)
• Bedrooms: Four bedrooms on the second floor
• Bathrooms: One full bathroom on the 1st level; One half bathroom on the 2nd level; Two total bathrooms
• Heating & cooling: Natural gas heating; Has heating
• Interior features: Full basement; 8 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $900 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $144k).
• Recommended offer: $140k (3.0% below list) — sets the bar for market timing.

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: 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 comparable units currently listed for rent nearby; 1,132 units permitted in Saratoga County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($996 loan paydown + $11k appreciation (7.9% local appreciation)).
• 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 $40k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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 $32k; list at $144k implies a 350% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,680 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — 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. 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 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: 1.84% ✓
• Cap rate: 13.79%
• Cash-on-cash: 26.79%
• DSCR: 2.19
• GRM: 4.5

CMA / ARV

• ARV (median comp): $278,177
• List price: $144,000
• Delta: -48.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Henry St	0.47mi	3/1.5 (-1)	2,028 (+1%)	10mo	$249,900	$123	63
21 Saratoga Ave	0.35mi	4/1.5	1,736 (-14%)	8mo	$295,000	$170	54
8 Faxon St	0.75mi	4/2.0	1,942 (-3%)	7mo	$330,000	$170	52
184 Main St	0.63mi	5/3.0 (+1)	2,135 (+6%)	12mo	$290,000	$136	39
205 Main St	0.66mi	4/2.0	1,861 (-7%)	22mo	$260,000	$140	36
37 Franklin St	0.74mi	3/2.0 (-1)	1,800 (-10%)	23mo	$357,000	$198	22

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: 41.2%
• Equity multiple: 3.87×
• Total profit: $115,760
• Equity at exit: $108,276

10-year hold

• IRR: 36.9%
• Equity multiple: 8.28×
• Total profit: $293,562
• Equity at exit: $213,863

Cash invested: $40,320 (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: 4.5×

Monthly cashflow live

• Estimated rent: $2,650 medium
• Mortgage (P&I): −$755
• Tax from tax record: −$378 /mo · $4,538/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $900

Break-even live

Break-even rent $1,510

Max offer price $144,000

Occupancy floor 61%

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: $36,000
• Closing costs: $4,320
• 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	1.32mi

Listing history 28 events

1. 2026-06-18
   days on market $144,000 Active 34 DOM
2. 2026-06-17
   days on market $144,000 Active 33 DOM
3. 2026-06-16
   days on market $144,000 Active 32 DOM
4. 2026-06-15
   days on market $144,000 Active 31 DOM
5. 2026-06-14
   days on market $144,000 Active 29 DOM
6. 2026-06-10
   days on market $144,000 Active 26 DOM
7. 2026-06-09
   days on market $144,000 Active 25 DOM
8. 2026-06-08
   days on market $144,000 Active 24 DOM
9. 2026-06-07
   days on market $144,000 Active 23 DOM
10. 2026-06-03
    days on market $144,000 Active 19 DOM
11. 2026-06-02
    days on market $144,000 Active 18 DOM
12. 2026-06-01
    days on market $144,000 Active 17 DOM
13. 2026-05-31
    days on market $144,000 Active 16 DOM
14. 2026-05-31
    days on market $144,000 Active 15 DOM
15. 2026-05-15
    listed $149,000 Active 682-char remark
16. 2025-12-22
    historical
17. 2025-12-11
    price $135,000
18. 2025-11-17
    listed $140,000 Active
19. 2019-03-01
    historical
20. 2019-02-28
    historical
21. 2017-01-13
    historical
22. 2016-12-15
    price $114,900
23. 2016-08-24
    listed $119,900 New
24. 2016-08-22
    listed $114,900
25. 2000-08-02
    soldstatus $32,000
26. 2000-07-24
    soldstatus $32,000
27. 2000-02-21
    listed $34,000
28. 1999-10-07
    listed $39,900

ⓘ 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: $4,538 · $378/mo
• Projected year-2 tax: $4,538 · $378/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 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: $31,800
• − Mortgage interest: −$8,066
• − Property taxes: −$4,538
• − Insurance: −$720
• − Repairs & maintenance: −$2,544
• − Management: −$2,544
• − Depreciation: −$4,189
• Taxable income: $9,199
• Est. tax owed @ 24.0%: −$2,208
• After-tax cash flow: $8,595/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

+260.9% since first listed

15 events — show timeline

• 2026-05-28 Price Changed $144,000 Global MLS
• 2026-05-15 Listed $149,000 Global MLS
• 2025-12-22 Listing Removed — Global MLS
• 2025-12-11 Price Changed $135,000 Global MLS
• 2025-11-17 Listed $140,000 Global MLS
• 2019-03-01 Listing Removed — Global MLS
• 2019-02-28 Listing Removed — Global MLS
• 2017-01-13 Listing Removed — Global MLS
• 2016-12-15 Price Changed $114,900 Global MLS
• 2016-08-24 Listed $119,900 Global MLS
• 2016-08-22 Listed $114,900 Global MLS
• 2000-08-02 Sold (Public Records) $32,000 Public Records
• 2000-07-24 Sold (MLS) $32,000 Global MLS
• 2000-02-21 Listed $34,000 Global MLS
• 1999-10-07 Listed $39,900 Global MLS

Property tax history

+5.7%/yr

Latest (2025): $4,538 · +49.3% YoY. Source: county tax records.