32 Walnut St · Gloversville, NY 12078

$105,000

3 bd · 2.0 ba · 1,352 sqft · SingleFamily public records · 77 Days on market

Built 1940 Fair condition 5,662 sqft lot $78/sqft · 41% below area Est $179k · 41% under

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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 +29.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.6/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

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.

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 $105k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 6.5% 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: Boulevard School (math 24% / reading 35%, grade F, #1,729 of 2,108 statewide, top 84%, 568 students, 72% FRL); Gloversville Middle School (math 6% / reading 35%, grade F, #664 of 729 statewide, top 91%, 548 students, 70% FRL); 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.
• Market conditions: 290 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($726 loan paydown + $10k 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 $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 29 sale attempts since 10y ago; this cycle's ask has dropped $695k (87%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.57%
• DSCR: 1.69
• GRM: 6.1

CMA / ARV

• ARV (median comp): $179,437
• List price: $105,000
• Delta: -41.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Franklin St	0.09mi	3/1.0	1,380 (+2%)	1mo	$180,000	$130	88
119 5th Ave	0.21mi	3/1.0	1,350 (-0%)	4mo	$146,260	$108	82
96 6th Ave	0.18mi	3/1.0	1,425 (+5%)	6mo	$179,500	$126	74
11 Alexander St	0.23mi	3/1.5	1,458 (+8%)	1mo	$152,500	$105	74
108 Yale St	0.42mi	4/1.5 (+1)	1,410 (+4%)	5mo	$185,394	$131	62
10 Franklin St	0.11mi	2/1.0 (-1)	1,184 (-12%)	4mo	$43,000	$36	62
24 Elmwood Ave	0.72mi	3/1.5	1,462 (+8%)	1mo	$85,000	$58	50
51 4th Ave	0.42mi	2/1.0 (-1)	1,160 (-14%)	0mo	$92,500	$80	47
40 Fox St	0.60mi	4/1.5 (+1)	1,508 (+12%)	0mo	$126,000	$84	46
6 N Hollywood Ave	0.74mi	2/1.5 (-1)	1,460 (+8%)	5mo	$232,500	$159	41
8 Oakland Dr	0.73mi	3/1.0	1,170 (-14%)	0mo	$206,000	$176	39
8 Oakland Dr	0.73mi	3/1.0	1,170 (-14%)	4mo	$92,000	$79	36

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: 35.8%
• Equity multiple: 3.77×
• Total profit: $81,519
• Equity at exit: $94,592

10-year hold

• IRR: 30.8%
• Equity multiple: 8.52×
• Total profit: $221,025
• Equity at exit: $203,992

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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 15 active · 26 under contract
• Months of supply: 4.3 mo (23%/mo absorbed)
• Median asking: $149,999 ($96/sqft)
• Median days on market: 60 d
• This list price: 20% of active listings are priced below it
• ARV vs active asking: +38.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12078

• Home prices YoY: 12.2%
• Active inventory: 290
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,432 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$156 /mo · $1,869/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $381

Break-even live

Break-even rent $950

Max offer price $105,000

Occupancy floor 68%

Sensitivity live

Price	-10% $441	-5% $411	+0% $381	+5% $352	+10% $322
Rent	-10% $268	-5% $325	+0% $381	+5% $438	+10% $495
Rate	-1.0pp $434	-0.5pp $408	base $381	+0.5pp $354	+1.0pp $327

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
89 2nd Ave Gloversville, NY	2.0	1.0	1106	$1,400	$1.27	1d	1	0.43mi
11 Fremont St Gloversville, NY	1.0–2.0	1.0–1.5	1171	$1,450	$1.24	0d	3	0.83mi
26 Steele Ave Gloversville, NY	4.0	1.0	1100	$1,350	$1.23	1d	1	1.18mi
33 E Pine St Gloversville, NY	4.0	1.0	1024	$1,600	$1.56	1d	1	1.28mi

Listing history 50 events

1. 2026-09-24
   days on market $105,000 Active 77 DOM
2. 2026-09-23
   days on market $105,000 Active 76 DOM
3. 2026-09-20
   days on market $105,000 Active 73 DOM
4. 2026-09-19
   days on market $105,000 Active 72 DOM
5. 2026-09-19
   days on market $105,000 Active 71 DOM
6. 2026-09-17
   days on market $105,000 Active 70 DOM
7. 2026-09-17
   days on market $105,000 Active 69 DOM
8. 2026-09-16
   days on market $105,000 Active 68 DOM
9. 2026-09-14
   days on market $105,000 Active 67 DOM
10. 2026-09-13
    days on market $105,000 Active 66 DOM
11. 2026-09-12
    days on market $105,000 Active 65 DOM
12. 2026-09-11
    days on market $105,000 Active 64 DOM
13. 2026-09-05
    days on market $105,000 Active 58 DOM
14. 2026-09-04
    days on market $105,000 Active 57 DOM
15. 2026-09-03
    days on market $105,000 Active 56 DOM
16. 2026-09-02
    days on market $105,000 Active 55 DOM
17. 2026-08-30
    days on market $105,000 Active 52 DOM
18. 2026-08-29
    days on market $105,000 Active 51 DOM
19. 2026-08-28
    days on market $105,000 Active 50 DOM
20. 2026-08-27
    days on market $105,000 Active 49 DOM
21. 2026-08-25
    days on market $105,000 Active 47 DOM
22. 2026-08-24
    days on market $105,000 Active 46 DOM
23. 2026-08-23
    days on market $105,000 Active 45 DOM
24. 2026-08-22
    days on market $105,000 Active 44 DOM
25. 2026-08-21
    days on market $105,000 Active 43 DOM
26. 2026-08-20
    days on market $105,000 Active 42 DOM
27. 2026-08-19
    days on market $105,000 Active 41 DOM
28. 2026-08-18
    days on market $105,000 Active 40 DOM
29. 2026-08-17
    days on market $105,000 Active 39 DOM
30. 2026-08-16
    days on market $105,000 Active 38 DOM
31. 2026-08-15
    days on market $105,000 Active 37 DOM
32. 2026-08-14
    days on market $105,000 Active 36 DOM
33. 2026-08-13
    days on market $105,000 Active 35 DOM
34. 2026-08-12
    days on market $105,000 Active 34 DOM
35. 2026-08-11
    days on market $105,000 Active 33 DOM
36. 2026-08-10
    days on market $105,000 Active 32 DOM
37. 2026-08-09
    days on market $105,000 Active 31 DOM
38. 2026-08-08
    days on market $105,000 Active 30 DOM
39. 2026-08-07
    days on market $105,000 Active 29 DOM
40. 2026-08-06
    days on market $105,000 Active 28 DOM
41. 2026-08-05
    days on market $105,000 Active 27 DOM
42. 2026-08-04
    days on market $105,000 Active 26 DOM
43. 2026-08-03
    pricestatusdays on market $105,000 Active 25 DOM
44. 2026-06-29
    statusdays on market $85,000 Pending 24 DOM
45. 2026-06-28
    days on market $85,000 Active 23 DOM
46. 2026-06-27
    days on market $85,000 Active 22 DOM
47. 2026-06-26
    days on market $85,000 Active 21 DOM
48. 2026-06-22
    days on market $85,000 Active 17 DOM
49. 2026-06-21
    days on market $85,000 Active 16 DOM
50. 2026-06-21
    days on market $85,000 Active 15 DOM

ⓘ 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: $17,189
• − Mortgage interest: −$5,882
• − Property taxes: −$1,869
• − Insurance: −$525
• − Repairs & maintenance: −$1,375
• − Management: −$1,375
• − Depreciation: −$3,055
• Taxable income: $3,109
• Est. tax owed @ 24.0%: −$746
• After-tax cash flow: $3,832/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $33,800–$60,840 screening

This single-family home requires moderate repairs and maintenance, including roof replacement and exterior painting. Upgrades to flooring and interior paint would significantly increase its value.

Deferred maintenance Est. $60,000–$180,000 screening

• Major Roof (roof) — Significant damage and missing shingles
• Major Windows (windows) — Visible damage and missing panes
• Major Electrical (electrical) — Exposed wiring and missing fixtures
• Major Exterior (exterior) — Significant damage and missing siding
• Major Plumbing (plumbing) — Exposed pipes and missing fixtures
• Major Other — Significant damage and missing components

Repairs flagged

• Major roof — Significant snow and ice accumulation
• Moderate exterior siding — White siding appears weathered and some areas show discoloration

Value-add opportunities

• Both Paint exterior siding — Fresh paint would improve curb appeal and home value ↑
• Both Replace carpet with hardwood or tile flooring — Hardwood or tile flooring would increase both resale and rental value ↑
• Both Paint interior walls — Fresh paint would improve the home's appearance and increase its value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 43/100

Zoned Schools

Elementary Boulevard School F NY #1,729/2,108 Nat'l #26,716/41,679 Middle Gloversville Middle School F NY #664/729 Nat'l #11,564/14,009 High Gloversville High School A- NY #518/1,100 Nat'l #1,121/17,239

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

A Composite livability gradescore 82/100

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
• County: Fulton · 51,132 people
• Population (ZIP): 23,087
• Household income: $54,565
• Rent vs Own: 38.6% rent · 61.4% own
• Severe rent burden: 9% of renters

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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%

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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%

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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

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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.