32 Walnut St · Gloversville, NY 12078

$85,000

3 bd · 2.0 ba · 1,352 sqft · SingleFamily public records · 13 Days on market

Built 1940 5,662 sqft lot

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Short sale approval needed, as is. Heat and electric on, water is unknown. Bank did not approve short sale of $80,000.00 hence the price change. Buyer will need to fund $5,000.00 in seller attorney fees to negotiate with bank to prevent foreclosure and to negotiate short sale. Actual attorney fee may be higher or lower. Nearly move in ready, could use polish. The kitchen feels completely ready to cook your next meal. This was a two family home that was converted to a single. Keep as a single or convert it back. Great square footage as a single family home, good area, has off street parking. All offers must be negotiated with bank

Key facts

• Off street parking
• Two family home
• 5,662 sq ft lot

Tags

• OFF STREET PARKING
• TWO FAMILY HOME
• CONVERTED TO A SINGLE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 15.7% vs local median 8.7% in Gloversville — 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 82/100 on livability (#70 in NY, #1,048 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment F.
• Gloversville City School District (town): math 26% / reading 42% proficiency, ranked #565 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gloversville High School (math 82% / reading 77%, grade A-, #518 of 1,100 statewide, top 51%, 697 students, 71% FRL) — zoned schools average 71% FRL vs 54% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 80% at this address vs 34% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Gloversville City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 165 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($588 loan paydown + $8k appreciation (10.0% local appreciation)).
• Fulton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 29 sale attempts since 10y ago; this cycle's ask has dropped $715k (89%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.94% ✓
• Cap rate: 15.70%
• Cash-on-cash: 33.61%
• DSCR: 2.50
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $170,352
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 5th Ave	0.21mi	3/1.0	1,350 (-0%)	1mo	$146,260	$108	85
139 5th Ave	0.20mi	3/1.0	1,332 (-2%)	5mo	$105,000	$79	80
96 6th Ave	0.18mi	3/1.0	1,425 (+5%)	2mo	$179,500	$126	77
124 East Blvd	0.28mi	4/2.5 (+1)	1,354 (+0%)	5mo	$165,000	$122	76
20 Easterly St	0.54mi	3/2.0	1,350 (-0%)	4mo	$198,000	$147	71
108 Yale St	0.42mi	4/1.5 (+1)	1,410 (+4%)	2mo	$185,394	$131	65
10 Franklin St	0.11mi	2/1.0 (-1)	1,184 (-12%)	1mo	$43,000	$36	64
44 W 8th Ave	0.59mi	3/1.5	1,408 (+4%)	5mo	$141,000	$100	60
62 3rd Ave	0.49mi	3/2.0	1,209 (-11%)	3mo	$135,000	$112	57
2 East Blvd	0.74mi	4/1.5 (+1)	1,450 (+7%)	3mo	$220,000	$152	44
6 N Hollywood Ave	0.74mi	2/1.5 (-1)	1,460 (+8%)	2mo	$232,500	$159	44
32 W 12th Ave	0.63mi	4/1.5 (+1)	1,530 (+13%)	6mo	$200,000	$131	37

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.0%
• Equity multiple: 4.73×
• Total profit: $88,802
• Equity at exit: $76,575

10-year hold

• IRR: 43.7%
• Equity multiple: 10.59×
• Total profit: $228,232
• Equity at exit: $165,136

Cash invested: $23,800 (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 12078

• Home prices YoY: 12.2%
• Active inventory: 165
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$156 /mo · $1,869/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $667

Break-even live

Break-even rent $806

Max offer price $85,000

Occupancy floor 55%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Fremont St Gloversville, NY	2.0–3.0	1.5–2.0	1612	$1,650	$1.02	43d	3	0.83mi

Listing history 50 events

1. 2026-06-18
   days on market $85,000 Active 13 DOM
2. 2026-06-17
   days on market $85,000 Active 12 DOM
3. 2026-06-16
   days on market $85,000 Active 11 DOM
4. 2026-06-16
   remarks 638-char remark
5. 2026-06-16
   pricestatus $85,000 Active 10 DOM
6. 2026-04-09
   status Pending
7. 2026-04-02
   status Active
8. 2026-03-13
   status Pending
9. 2026-03-10
   price $80,000
10. 2026-03-07
    listed $800,000 Active
11. 2026-02-17
    historical
12. 2026-01-25
    price $100,000
13. 2025-12-23
    listed $120,000 Active
14. 2025-11-22
    historical
15. 2025-11-19
    historical $2,200
16. 2025-10-31
    status Active
17. 2025-10-02
    historical
18. 2025-09-28
    listed $159,900 Active
19. 2025-09-24
    historical
20. 2025-09-19
    listed $2,200
21. 2025-08-28
    listed $145,000 Active
22. 2025-08-26
    historical $2,200
23. 2025-07-27
    historical
24. 2025-07-25
    listed $2,200
25. 2025-07-20
    price $150,000
26. 2025-07-15
    listed $165,000 Active
27. 2025-06-12
    historical
28. 2025-06-02
    price $164,000
29. 2025-05-13
    listed $167,000 Active
30. 2025-03-10
    historical $2,000
31. 2024-12-09
    historical
32. 2024-10-23
    listed $160,000 Active
33. 2024-09-26
    listed $2,000
34. 2024-09-26
    historical $2,000
35. 2024-09-26
    historical
36. 2024-08-25
    listed $145,000 Active
37. 2024-08-14
    historical
38. 2024-07-09
    price $144,000
39. 2024-06-28
    listed $145,000 Active
40. 2024-06-24
    historical
41. 2024-06-06
    listed $145,000 Active
42. 2024-05-29
    historical
43. 2024-05-06
    listed $142,000 Active
44. 2024-05-02
    historical
45. 2024-04-03
    listed $149,900 Active
46. 2024-04-02
    price $2,000
47. 2024-03-26
    listed $2,200
48. 2024-03-16
    historical
49. 2024-02-16
    listed $149,900 Active
50. 2023-12-05
    status 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: $1,869 · $156/mo
• Projected year-2 tax: $1,869 · $156/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 2/10 Low 7 d/yr ≥93°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: $19,800
• − Mortgage interest: −$4,761
• − Property taxes: −$1,869
• − Insurance: −$425
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$2,473
• Taxable income: $7,104
• Est. tax owed @ 24.0%: −$1,705
• After-tax cash flow: $6,294/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: Gloversville City School District
• NCES district ID: 3612270
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 42% ▲ 7.00%
• Median HH income: $36,775
• Composite: 28.2/100
• National rank: #6806
• State rank: #565 of 590 in NY

Livability — Gloversville

• Score: 82/100
• State rank: #70
• US rank: #1048

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gloversville, NY
• Population (ZIP): 23,087

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 51,132 people
• By 2030: 49,114 · -3.9%
• By 2040: 44,373 · -13.2%
• By 2050: 39,321 · -23.1%
• By 2075: 28,503 · -44.3%
• By 2100: 19,268 · -62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 5% Black 2% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 5% Romanian 4% Iranian 4%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+35.9) · D 32.1% · R 67.9%
• 2008→2024 swing: -26.6pp toward R · 2008: -9.2pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.4 2016: R+35.5 2012: R+10.5 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 34.22%
• Current HPI: 315.1368
• 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

+73.9% since first listed

72 events — show timeline

• 2026-04-09 Pending — Global MLS
• 2026-04-02 Relisted — Global MLS
• 2026-03-13 Pending — Global MLS
• 2026-03-10 Price Changed $80,000 Global MLS
• 2026-03-07 Listed $800,000 Global MLS
• 2026-02-17 Listing Removed — Global MLS
• 2026-01-25 Price Changed $100,000 Global MLS
• 2025-12-23 Listed $120,000 Global MLS
• 2025-11-22 Listing Removed — Global MLS
• 2025-11-19 Rental Removed $2,200 TURBOTENANT
• 2025-10-31 Relisted — Global MLS
• 2025-10-02 Listing Removed — Global MLS
• 2025-09-28 Listed $159,900 Global MLS
• 2025-09-24 Listing Removed — Global MLS
• 2025-09-19 Listed for Rent $2,200 TURBOTENANT
• 2025-08-28 Listed $145,000 Global MLS
• 2025-08-26 Rental Removed $2,200 TURBOTENANT
• 2025-07-27 Listing Removed — Global MLS
• 2025-07-25 Listed for Rent $2,200 TURBOTENANT
• 2025-07-20 Price Changed $150,000 Global MLS
• 2025-07-15 Listed $165,000 Global MLS
• 2025-06-12 Listing Removed — Global MLS
• 2025-06-02 Price Changed $164,000 Global MLS
• 2025-05-13 Listed $167,000 Global MLS
• 2025-03-10 Rental Removed $2,000 APPFOLIO
• 2024-12-09 Listing Removed — Global MLS
• 2024-10-23 Listed $160,000 Global MLS
• 2024-09-26 Listed for Rent $2,000 APPFOLIO
• 2024-09-26 Rental Removed $2,000 GLOBALMLS
• 2024-09-26 Listing Removed — Global MLS
• 2024-08-25 Listed $145,000 Global MLS
• 2024-08-14 Listing Removed — Global MLS
• 2024-07-09 Price Changed $144,000 Global MLS
• 2024-06-28 Listed $145,000 Global MLS
• 2024-06-24 Listing Removed — Global MLS
• 2024-06-06 Listed $145,000 Global MLS
• 2024-05-29 Listing Removed — Global MLS
• 2024-05-06 Listed $142,000 Global MLS
• 2024-05-02 Listing Removed — Global MLS
• 2024-04-03 Listed $149,900 Global MLS
• 2024-04-02 Price Changed $2,000 GLOBALMLS
• 2024-03-26 Listed for Rent $2,200 GLOBALMLS
• 2024-03-16 Listing Removed — Global MLS
• 2024-02-16 Listed $149,900 Global MLS
• 2023-12-05 Relisted — Global MLS
• 2023-11-09 Pending — Global MLS
• 2023-11-09 Listing Removed — Global MLS
• 2023-11-04 Listed $149,900 Global MLS
• 2023-09-07 Listing Removed — Global MLS
• 2023-02-14 Listed $165,000 Global MLS
• 2023-02-01 Listing Removed — Global MLS
• 2022-11-20 Listed $165,000 Global MLS
• 2022-10-12 Listing Removed — Global MLS
• 2022-06-08 Price Changed $190,000 Global MLS
• 2022-04-12 Listed $165,000 Global MLS
• 2020-12-29 Sold (Public Records) $76,500 Public Records
• 2020-10-16 Sold (MLS) $76,500 Global MLS
• 2020-06-02 Pending — Global MLS
• 2020-02-05 Listed $87,400 Global MLS
• 2020-02-01 Listing Removed — Global MLS
• 2019-08-22 Price Changed $89,900 Global MLS
• 2019-07-10 Listed $94,900 Global MLS
• 2019-07-08 Listing Removed — Global MLS
• 2019-03-19 Price Changed $99,900 Global MLS
• 2019-02-21 Price Changed $104,500 Global MLS
• 2019-01-29 Price Changed $114,900 Global MLS
• 2019-01-07 Listed $119,900 Global MLS
• 2017-06-01 Listing Removed — Global MLS
• 2016-11-07 Listed $59,900 Global MLS
• 2016-11-01 Listing Removed — Global MLS
• 2016-04-19 Listed $59,900 Global MLS
• 2005-12-23 Sold (Public Records) $46,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,869 · +5.4% YoY. Source: county tax records.