4 Greenwood Rd · Glens Falls North, NY 12845

$539,900

3 bd · 2.0 ba · 2,066 sqft · SingleFamily public records · 7 Days on market

Built 2022 0.46 ac lot Est $550k · at est.

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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).

• Appreciation +10.0/10.0
• ARV discount +8.3/15.0
• Schools +6.1/10.0
• Cash flow +5.9/30.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.3/10.0

Listing remarks

Open House Canceled 4-12-26! Adirondack living meets modern design in this nearly new 3-bedroom, 2-bathroom ranch, offering over 2,000 square feet of beautifully finished space. One-level living, showcasing wide plank hardwood floors, an inviting gas fireplace with granite surround, and elevated finishes throughout. The kitchen features granite countertops, an island, stainless steel appliances, soft-close cabinetry, and under-cabinet lighting. The primary suite offers a double vanity, granite countertops, and upgraded custom shelving in the closets. A finished lower level with egress window adds valuable living space, and is complemented by a tankless water heater and an air filtration sys

Key facts

• Soft close cabinetry
• Gas fireplace
• One level living

Tags

• ONE LEVEL LIVING
• WIDE PLANK HARDWOOD FLOORS
• GAS FIREPLACE
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• SOFT CLOSE CABINETRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $540k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $353k (34.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $313k (42.1% below list).
• Recommended offer: $313k (42.1% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 2.5% in Glens Falls North — 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 80/100 on livability (#112 in NY, #1,836 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living D+, commute F.
• Lake George Central School District (rural): math 68% / reading 73% proficiency, ranked #131 of 590 in NY (top 22%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Lake George Elementary School (math 62% / reading 82%, grade A-, #378 of 2,108 statewide, top 20%, 300 students, 24% FRL); Lake George Junior-Senior High School (math 72% / reading 62%, grade B, #746 of 1,100 statewide, top 69%, 330 students, 19% FRL) — zoned schools at 22% FRL track the district average.
• Market conditions: 112 active listings in the ZIP; 180 units permitted in Warren County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $58k of equity ($4k loan paydown + $54k appreciation (10.0% local appreciation)).
• Warren County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$93k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $312,762 (42.1% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.58% ✗
• Cap rate: 3.95%
• Cash-on-cash: -8.38%
• DSCR: 0.63
• GRM: 14.4

CMA / ARV

• ARV (on-the-fly): $549,556
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Equinox Dr	0.22mi	3/2.0	2,258 (+9%)	8mo	$600,000	$266	67
128 Equinox Dr	0.25mi	4/2.0 (+1)	2,036 (-2%)	18mo	$555,000	$273	66
41 Mccormack Dr	0.26mi	4/2.5 (+1)	1,982 (-4%)	10mo	$445,000	$225	65

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: 18.4%
• Equity multiple: 2.50×
• Total profit: $226,742
• Equity at exit: $486,385

10-year hold

• IRR: 17.1%
• Equity multiple: 5.77×
• Total profit: $720,425
• Equity at exit: $1,048,907

Cash invested: $151,172 (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 12845

• Home prices YoY: 3.5%
• Active inventory: 112
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $3,128 medium
• Mortgage (P&I): −$2,831
• Tax from tax record: −$470 /mo · $5,640/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $-1,055

Break-even live

Break-even rent $4,464

Max offer price $353,448

Occupancy floor —

Sensitivity live

Price	-10% $-750	-5% $-903	+0% $-1,055	+5% $-1,208	+10% $-1,361
Rent	-10% $-1,303	-5% $-1,179	+0% $-1,055	+5% $-932	+10% $-808
Rate	-1.0pp $-784	-0.5pp $-918	base $-1,055	+0.5pp $-1,195	+1.0pp $-1,338

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: $134,975
• Closing costs: $16,197
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-13
   status Pending
2. 2026-04-06
   listed $539,900 Active
3. 2022-07-18
   soldstatus $497,055

ⓘ 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: $5,640 · $470/mo
• Projected year-2 tax: $7,382 · $615/mo
• Expected delta: +$1,742/yr (+$145/mo · 30.9%)

ⓘ 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 ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $37,531
• − Mortgage interest: −$30,243
• − Property taxes: −$5,640
• − Insurance: −$2,700
• − Repairs & maintenance: −$3,003
• − Management: −$3,003
• − Depreciation: −$15,706
• Taxable loss: −$22,762
• Est. tax savings @ 24.0%: +$5,463
• After-tax cash flow: $-7,203/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: Lake George Central School District
• NCES district ID: 3616470
• Math proficiency: 68% ▼ -8.00%
• Reading proficiency: 73% ▲ 9.00%
• Median HH income: $65,873
• Composite: 61.29/100
• National rank: #777
• State rank: #131 of 590 in NY

Livability — Glens Falls North

• Score: 80/100
• State rank: #112
• US rank: #1836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 28,175
• Population (ZIP): 4,389

Population outlook (Warren County) Hauer SSP2

• Today (2025): 62,372 people
• By 2030: 60,491 · -3.0%
• By 2040: 55,616 · -10.8%
• By 2050: 50,437 · -19.1%
• By 2075: 40,843 · -34.5%
• By 2100: 31,159 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 3% Black 1%
• Common ancestry: Lithuanian 7% Italian 4% Iranian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Warren

• 2024 margin: Toss-up / Even · D 47.9% · R 52.1%
• 2008→2024 swing: -6.9pp toward R · 2008: 2.6pp · 2024: -4.2pp
• All cycles: 2024: R+4.2 2020: R+0.2 2016: R+10.6 2012: D+2.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.18%
• Current HPI: 364.9782
• 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

+8.6% since first listed

3 events — show timeline

• 2026-04-13 Pending — Global MLS
• 2026-04-06 Listed $539,900 Global MLS
• 2022-07-18 Sold (Public Records) $497,055 Public Records

Property tax history

+23.5%/yr

Latest (2025): $5,640 · +3.7% YoY. Source: county tax records.