4 Lafayette St · Gloversville, NY 12078

$119,900

3 bd · 1.0 ba · 1,495 sqft · SingleFamily public records · 134 Days on market

Built 1938 8,276 sqft lot $80/sqft · at area comps Est $124k · at est.

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +9.0/15.0
• 1% rule +8.8/10.0
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This single-family home offers open living areas, featuring many updated appliances and fixtures. This home is centrally located near amenities. Enjoy all this home and more from the comfort of your huge yard!

Key facts

• Updated appliances
• Huge yard
• Open living areas

Tags

• OPEN LIVING AREAS
• UPDATED APPLIANCES
• CENTRALLY LOCATED
• HUGE YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 8.7% in Gloversville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools D, 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.
• 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 $13k of equity ($829 loan paydown + $12k 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 $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $120k implies a 531% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.38% ✓
• Cap rate: 11.26%
• Cash-on-cash: 17.75%
• DSCR: 1.79
• GRM: 6.1

CMA / ARV

• ARV (median comp): $123,912
• List price: $119,900
• Delta: -3.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 W 8th Ave	0.23mi	3/1.5	1,408 (-6%)	5mo	$141,000	$100	74
32 W 12th Ave	0.31mi	4/1.5 (+1)	1,530 (+2%)	6mo	$200,000	$131	70
41 Lee Ave	0.45mi	3/2.0	1,599 (+7%)	1mo	$292,900	$183	62
108 Yale St	0.48mi	4/1.5 (+1)	1,410 (-6%)	2mo	$185,394	$131	60
96 6th Ave	0.73mi	3/1.0	1,425 (-5%)	2mo	$179,500	$126	56
238 N Main St	0.45mi	3/1.5	1,638 (+10%)	10mo	$78,900	$48	52
6 Highland Ter	0.52mi	3/1.0	1,300 (-13%)	6mo	$176,900	$136	49
119 5th Ave	0.74mi	3/1.0	1,350 (-10%)	1mo	$146,260	$108	48
20 North Blvd	0.74mi	2/2.0 (-1)	1,458 (-2%)	7mo	$199,900	$137	46
5 Washburn St	0.50mi	2/1.5 (-1)	1,650 (+10%)	9mo	$115,000	$70	45
14 Alexander St	0.60mi	3/1.0	1,702 (+14%)	8mo	$155,000	$91	42
31 E State St	0.64mi	2/1.5 (-1)	1,282 (-14%)	10mo	$185,400	$145	31

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: 37.5%
• Equity multiple: 3.89×
• Total profit: $96,948
• Equity at exit: $108,015

10-year hold

• IRR: 32.3%
• Equity multiple: 8.76×
• Total profit: $260,640
• Equity at exit: $232,939

Cash invested: $33,572 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$128 /mo · $1,537/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $497

Break-even live

Break-even rent $1,021

Max offer price $119,900

Occupancy floor 65%

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: $29,975
• Closing costs: $3,597
• 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	44d	3	0.71mi

Listing history 38 events

1. 2026-06-18
   days on market $119,900 Active 134 DOM
2. 2026-06-17
   days on market $119,900 Active 133 DOM
3. 2026-06-16
   days on market $119,900 Active 132 DOM
4. 2026-06-15
   days on market $119,900 Active 131 DOM
5. 2026-06-13
   days on market $119,900 Active 129 DOM
6. 2026-06-12
   days on market $119,900 Active 128 DOM
7. 2026-06-09
   days on market $119,900 Active 125 DOM
8. 2026-06-08
   days on market $119,900 Active 124 DOM
9. 2026-06-07
   days on market $119,900 Active 123 DOM
10. 2026-06-07
    days on market $119,900 Active 122 DOM
11. 2026-06-04
    days on market $119,900 Active 119 DOM
12. 2026-06-02
    days on market $119,900 Active 118 DOM
13. 2026-06-01
    days on market $119,900 Active 117 DOM
14. 2026-05-31
    days on market $119,900 Active 116 DOM
15. 2026-03-21
    price $129,900 209-char remark

    Show marketing remark (209 chars)

    This single-family home offers open living areas, featuring many updated appliances and fixtures. This home is centrally located near amenities. Enjoy all this home and more from the comfort of your huge yard!

16. 2026-02-04
    listed $134,900 Active 209-char remark

    Show marketing remark (209 chars)

    This single-family home offers open living areas, featuring many updated appliances and fixtures. This home is centrally located near amenities. Enjoy all this home and more from the comfort of your huge yard!

17. 2025-07-24
    historical
18. 2025-07-04
    price $124,900
19. 2025-06-16
    price $139,900
20. 2025-06-13
    price $144,900
21. 2025-05-17
    price $154,900
22. 2025-05-04
    price $164,900
23. 2025-03-25
    price $169,900
24. 2025-02-05
    listed $174,900 Active
25. 2022-09-30
    historical
26. 2022-06-21
    price $170,000
27. 2022-06-03
    listed $215,000 Active
28. 2016-01-09
    historical
29. 2015-09-09
    listed $22,900 Active
30. 2008-11-10
    soldstatus $19,000
31. 2008-10-10
    historical
32. 2008-09-05
    listed $19,900
33. 2004-12-27
    soldstatus $62,300
34. 2003-10-21
    soldstatus $9,600
35. 2003-08-27
    soldstatus $9,600
36. 2003-07-03
    historical
37. 2003-04-14
    soldstatus $34,236
38. 2002-11-27
    listed $10,000

ⓘ 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: $1,537 · $128/mo
• Projected year-2 tax: $1,782 · $148/mo
• Expected delta: +$245/yr (+$20/mo · 15.9%)

ⓘ 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: −$6,716
• − Property taxes: −$1,537
• − Insurance: −$600
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$3,488
• Taxable income: $4,291
• Est. tax owed @ 24.0%: −$1,030
• After-tax cash flow: $4,931/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

+1199.0% since first listed

24 events — show timeline

• 2026-03-21 Price Changed $129,900 Global MLS
• 2026-02-04 Listed $134,900 Global MLS
• 2025-07-24 Listing Removed — Global MLS
• 2025-07-04 Price Changed $124,900 Global MLS
• 2025-06-16 Price Changed $139,900 Global MLS
• 2025-06-13 Price Changed $144,900 Global MLS
• 2025-05-17 Price Changed $154,900 Global MLS
• 2025-05-04 Price Changed $164,900 Global MLS
• 2025-03-25 Price Changed $169,900 Global MLS
• 2025-02-05 Listed $174,900 Global MLS
• 2022-09-30 Listing Removed — CNYIS
• 2022-06-21 Price Changed $170,000 CNYIS
• 2022-06-03 Listed $215,000 CNYIS
• 2016-01-09 Listing Removed — Global MLS
• 2015-09-09 Listed $22,900 Global MLS
• 2008-11-10 Sold (MLS) $19,000 Global MLS
• 2008-10-10 Listing Removed — Global MLS
• 2008-09-05 Listed $19,900 Global MLS
• 2004-12-27 Sold (Public Records) $62,300 Public Records
• 2003-10-21 Sold (Public Records) $9,600 Public Records
• 2003-08-27 Sold (MLS) $9,600 Global MLS
• 2003-07-03 Listing Removed — Global MLS
• 2003-04-14 Sold (Public Records) $34,236 Public Records
• 2002-11-27 Listed $10,000 Global MLS

Property tax history

+0.9%/yr

Latest (2025): $1,537 · +3.4% YoY. Source: county tax records.