42 Indiana Ave

West Glens Falls, NY 12804

$99,999C

1 bd · 1.0 ba · 758 sqft · Built 1940 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,100/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$257
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $88/mo
• Annual: $1,056/yr
• Cap rate: 7.35%
• Cash-on-cash: 3.77%
• DSCR: 1.17
• 1% rule: 1.10%
• Cash to close: $28,000

Investor read

• This is a 1-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 35 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• Queensbury Union Free School District (suburban): math 57% / reading 62% proficiency, ranked #230 of 590 in NY (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Queensbury Elementary School (math 67% / reading 62%, grade B, #591 of 2,108 statewide, top 31%, 880 students, 41% FRL); Queensbury Senior High School (math 79% / reading 98%, grade A, #299 of 1,100 statewide, top 27%, 980 students, 31% FRL).
• Zoned-school proficiency averages 76% at this address vs 60% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Queensbury Union Free School District average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 2.6% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 160 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).
• Warren County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $100k implies a 66% gain — meaningful room to come down on a strong offer.
• Cap rate 7.3% 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

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.