18 Park Dr · South Glens Falls, NY 12803

$139,900

2 bd · 1.0 ba · 851 sqft · SingleFamily public records · 28 Days on market

Built 1958 0.38 ac lot Est $253k · 45% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Appreciation +8.9/10.0
• Cash flow +7.5/30.0
• Schools +4.7/10.0
• Livability +3.7/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0

Listing remarks

Welcome To 18 Park Dr! This Parcel Features: - Unique 0.38 Acre Corner Lot - Public Water - Detached Garage - First Floor Bedroom(s) Property Needs Rehab. Cash. As Is. Assignment Of Contract.

Key facts

• Public water
• Detached garage
• 0.38 acre lot

Tags

• UNIQUE 0.38 ACRE CORNER LOT
• PUBLIC WATER
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage; Driveway; Two total parking spaces (two-car garage)
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Detached garage structure on the property

Interior

• Kitchen: First-floor kitchen
• Bedrooms: Three first-floor bedrooms
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Full basement; One fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-177 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (22.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (21.4% below list).
• Recommended offer: $109k (22.3% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 2.3% in South 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 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 ($967 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.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,690 (22.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.79% ✗
• Cap rate: 4.78%
• Cash-on-cash: -5.41%
• DSCR: 0.76
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $252,747
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Ryder Ave	0.03mi	3/1.0 (+1)	851 (0%)	11mo	$253,000	$297	84
26 East Rd	0.07mi	3/2.0 (+1)	900 (+6%)	5mo	$369,000	$410	74
34 E State St	0.57mi	3/1.0 (+1)	860 (+1%)	8mo	$187,000	$217	60
35 Feeder Dam Rd	0.32mi	3/2.0 (+1)	900 (+6%)	11mo	$339,900	$378	57
11 E Tremont St	0.54mi	2/1.5	936 (+10%)	14mo	$249,900	$267	44

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: 15.7%
• Equity multiple: 2.16×
• Total profit: $45,417
• Equity at exit: $105,193

10-year hold

• IRR: 15.3%
• Equity multiple: 4.58×
• Total profit: $140,230
• Equity at exit: $207,774

Cash invested: $39,172 (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: 10.6×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$254 /mo · $3,045/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-177

Break-even live

Break-even rent $1,324

Max offer price $108,690

Occupancy floor —

Sensitivity live

Price	-10% $-97	-5% $-137	+0% $-177	+5% $-216	+10% $-256
Rent	-10% $-264	-5% $-220	+0% $-177	+5% $-133	+10% $-90
Rate	-1.0pp $-106	-0.5pp $-141	base $-177	+0.5pp $-213	+1.0pp $-250

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Staple St Glens Falls, NY	1.0	1.0	897	$1,100	$1.23	24d	1	1.14mi

Listing history 16 events

1. 2026-06-18
   days on market $139,900 Active 28 DOM
2. 2026-06-17
   price $139,900 Active 27 DOM
3. 2026-06-17
   days on market $149,900 Active 27 DOM
4. 2026-06-16
   days on market $149,900 Active 26 DOM
5. 2026-06-15
   days on market $149,900 Active 25 DOM
6. 2026-06-14
   days on market $149,900 Active 23 DOM
7. 2026-06-10
   days on market $149,900 Active 20 DOM
8. 2026-06-09
   days on market $149,900 Active 19 DOM
9. 2026-06-08
   days on market $149,900 Active 18 DOM
10. 2026-06-07
    days on market $149,900 Active 17 DOM
11. 2026-06-03
    days on market $149,900 Active 13 DOM
12. 2026-06-02
    days on market $149,900 Active 12 DOM
13. 2026-06-01
    days on market $149,900 Active 11 DOM
14. 2026-05-31
    days on market $149,900 Active 10 DOM
15. 2026-05-31
    days on market $149,900 Active 9 DOM
16. 2026-05-21
    listed $149,900 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: $3,045 · $254/mo
• Projected year-2 tax: $3,045 · $254/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 3/10 Moderate
• 🌡 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: $13,200
• − Mortgage interest: −$7,837
• − Property taxes: −$3,045
• − Insurance: −$700
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$4,070
• Taxable loss: −$4,563
• Est. tax savings @ 24.0%: +$1,095
• After-tax cash flow: $-1,025/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

• 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

1 event — show timeline

• 2026-05-21 Listed $149,900 Global MLS

Property tax history

+4.3%/yr

Latest (2025): $3,045 · +1.3% YoY. Source: county tax records.