7 Division St · Gloversville, NY 12078

$145,000

4 bd · 4.0 ba · 2,132 sqft · MultiFamily public records · 61 Days on market

Built 1897 1,742 sqft lot $68/sqft · 17% above area Est $124k · 17% over

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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
• Livability +4.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Just freshened up for picture day comes 7 Division street. This affordable yet ready to rent duplex comes with two bedrooms in each unit and a flex room that had previously been used as an additional bedroom. Ample sized kitchens and common areas for gatherings and preparing meals lends itself to a good home life balance. No yard of any kind so don't need to bring a lawn mower, nor a paintbrush as the inside and outside had a recent coat of paint. Forced hot air units keep each unit warm, with fully separate utilities, while the brand new roof will keep everything dry for the next three decades. Seller has put in new stoves and refrigerators so feel at home with dependable and new appliances. All new flooring throughout, this 2100 square foot duplex is ready to be lived in or start generating income, or both! Delivered completely vacant to help the new owner ease into either unit. This is the one, very few quality homes are available vacant or actually ready to move into, but the pictures are hot off the press and there's little to do except choose how to arrange the furniture!

Key facts

• Recent coat of paint
• New stoves
• Ample sized kitchens

Tags

• AMPLE SIZED KITCHENS
• RECENT COAT OF PAINT
• FORCED HOT AIR UNITS
• FULLY SEPARATE UTILITIES
• BRAND NEW ROOF
• NEW STOVES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $513/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 8.6% 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: 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: 172 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 $16k of equity ($1k loan paydown + $14k 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 $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $145k implies a 190% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.69% ✓
• Cap rate: 14.78%
• Cash-on-cash: 30.30%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

• ARV (median comp): $123,983
• List price: $145,000
• Delta: 16.95%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73 Fremont St	0.04mi	5/2.0 (+1)	1,914 (-10%)	8mo	$75,000	$39	61
45 Temple St	0.59mi	4/2.0	2,182 (+2%)	6mo	$114,000	$52	55
38 Temple St	0.55mi	4/2.0	2,296 (+8%)	1mo	$107,000	$47	53
40 Temple St	0.56mi	4/2.0	1,956 (-8%)	2mo	$137,000	$70	51
26 Grand St	0.43mi	3/3.0 (-1)	2,360 (+11%)	4mo	$110,000	$47	49
96 Woodside Ave	0.58mi	4/2.0	2,020 (-5%)	8mo	$70,000	$35	49
128 Broad St	0.48mi	4/2.0	2,336 (+10%)	6mo	$150,000	$64	48
24 4th Ave	0.52mi	5/2.0 (+1)	2,400 (+13%)	6mo	$120,000	$50	37
226 E Fulton St	0.60mi	3/1.5 (-1)	2,345 (+10%)	4mo	$137,000	$58	37
70 6th Ave	0.74mi	5/2.0 (+1)	1,952 (-8%)	4mo	$120,000	$61	35
242 Bleecker St	0.73mi	5/2.0 (+1)	1,904 (-11%)	6mo	$125,000	$66	30
253 S Main St	0.69mi	5/2.0 (+1)	2,400 (+13%)	7mo	$110,000	$46	28

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: 47.3%
• Equity multiple: 4.55×
• Total profit: $144,237
• Equity at exit: $130,627

10-year hold

• IRR: 41.1%
• Equity multiple: 10.20×
• Total profit: $373,384
• Equity at exit: $281,703

Cash invested: $40,600 (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: 172
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,455 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$94 /mo · $1,124/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $1,025

Break-even live

Break-even rent $1,158

Max offer price $145,000

Occupancy floor 53%

Sensitivity live

Price	-10% $1,107	-5% $1,066	+0% $1,025	+5% $984	+10% $943
Rent	-10% $831	-5% $928	+0% $1,025	+5% $1,122	+10% $1,219
Rate	-1.0pp $1,098	-0.5pp $1,062	base $1,025	+0.5pp $987	+1.0pp $949

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,456
Total (2 units)			$2,455

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: $36,250
• Closing costs: $4,350
• 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	0.22mi

Listing history 33 events

1. 2026-06-21
   days on market $145,000 Active 61 DOM
2. 2026-06-18
   days on market $145,000 Active 59 DOM
3. 2026-06-17
   days on market $145,000 Active 58 DOM
4. 2026-06-16
   days on market $145,000 Active 57 DOM
5. 2026-06-15
   days on market $145,000 Active 56 DOM
6. 2026-06-13
   days on market $145,000 Active 54 DOM
7. 2026-06-12
   days on market $145,000 Active 53 DOM
8. 2026-06-09
   days on market $145,000 Active 50 DOM
9. 2026-06-08
   days on market $145,000 Active 49 DOM
10. 2026-06-07
    days on market $145,000 Active 48 DOM
11. 2026-06-07
    days on market $145,000 Active 47 DOM
12. 2026-06-04
    days on market $145,000 Active 44 DOM
13. 2026-06-02
    days on market $145,000 Active 43 DOM
14. 2026-06-01
    days on market $145,000 Active 42 DOM
15. 2026-05-31
    days on market $145,000 Active 41 DOM
16. 2026-04-20
    listed $145,000 Active 1106-char remark

    Show marketing remark (1106 chars)

    Just freshened up for picture day comes 7 Division street. This affordable yet ready to rent duplex comes with two bedrooms in each unit and a flex room that had previously been used as an additional bedroom. Ample sized kitchens and common areas for gatherings and preparing meals lends itself to a good home life balance. No yard of any kind so don't need to bring a lawn mower, nor a paintbrush as the inside and outside had a recent coat of paint. Forced hot air units keep each unit warm, with fully separate utilities, while the brand new roof will keep everything dry for the next three decades. Seller has put in new stoves and refrigerators so feel at home with dependable and new appliances. All new flooring throughout, this 2100 square foot duplex is ready to be lived in or start generating income, or both! Delivered completely vacant to help the new owner ease into either unit. This is the one, very few quality homes are available vacant or actually ready to move into, but the pictures are hot off the press and there's little to do except choose how to arrange the furniture!

17. 2024-05-14
    soldstatus $50,000
18. 2024-05-13
    soldstatus $50,000 Closed 425-char remark

    Show marketing remark (425 chars)

    3BR, 1 bath each unit. LR, kitchen w/ stove & refrigerator ea unit. 1st flr has sanded flrs, new linoleum, new toilet. Fresh paint. New ceiling fan. New kitchen cabinets & counter. Both units have GHA heat - separate gas & electric. Good condition. Needs replacement windows. 1st flr rent $900/ 2nd flr rent $900. Offers invited. Good moneymaker. Sold 'As is where is'. Please do any inspections before contract.

19. 2024-04-12
    status Pending 425-char remark

    Show marketing remark (425 chars)

    3BR, 1 bath each unit. LR, kitchen w/ stove & refrigerator ea unit. 1st flr has sanded flrs, new linoleum, new toilet. Fresh paint. New ceiling fan. New kitchen cabinets & counter. Both units have GHA heat - separate gas & electric. Good condition. Needs replacement windows. 1st flr rent $900/ 2nd flr rent $900. Offers invited. Good moneymaker. Sold 'As is where is'. Please do any inspections before contract.

20. 2024-02-22
    price $51,900 425-char remark

    Show marketing remark (425 chars)

    3BR, 1 bath each unit. LR, kitchen w/ stove & refrigerator ea unit. 1st flr has sanded flrs, new linoleum, new toilet. Fresh paint. New ceiling fan. New kitchen cabinets & counter. Both units have GHA heat - separate gas & electric. Good condition. Needs replacement windows. 1st flr rent $900/ 2nd flr rent $900. Offers invited. Good moneymaker. Sold 'As is where is'. Please do any inspections before contract.

21. 2024-02-01
    listed $53,900 Active 425-char remark

    Show marketing remark (425 chars)

    3BR, 1 bath each unit. LR, kitchen w/ stove & refrigerator ea unit. 1st flr has sanded flrs, new linoleum, new toilet. Fresh paint. New ceiling fan. New kitchen cabinets & counter. Both units have GHA heat - separate gas & electric. Good condition. Needs replacement windows. 1st flr rent $900/ 2nd flr rent $900. Offers invited. Good moneymaker. Sold 'As is where is'. Please do any inspections before contract.

22. 2023-06-11
    price $54,900
23. 2023-05-31
    status Active
24. 2023-03-14
    status Active
25. 2023-02-23
    status Pending
26. 2023-02-23
    historical
27. 2023-02-23
    historical
28. 2023-02-06
    price $56,900
29. 2022-11-24
    listed $59,900 Active
30. 2022-05-22
    historical
31. 2022-05-02
    status Active
32. 2022-02-15
    status Pending
33. 2021-11-20
    listed $47,000 New

ⓘ 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: $1,124 · $94/mo
• Projected year-2 tax: $1,787 · $149/mo
• Expected delta: +$663/yr (+$55/mo · 59.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $29,460
• − Mortgage interest: −$8,122
• − Property taxes: −$1,124
• − Insurance: −$725
• − Repairs & maintenance: −$2,357
• − Management: −$2,357
• − Depreciation: −$4,218
• Taxable income: $10,557
• Est. tax owed @ 24.0%: −$2,534
• After-tax cash flow: $9,766/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

+208.5% since first listed

18 events — show timeline

• 2026-04-20 Listed $145,000 Global MLS
• 2024-05-14 Sold (Public Records) $50,000 Public Records
• 2024-05-13 Sold (MLS) $50,000 Global MLS
• 2024-04-12 Pending — Global MLS
• 2024-02-22 Price Changed $51,900 Global MLS
• 2024-02-01 Listed $53,900 Global MLS
• 2023-06-11 Price Changed $54,900 Global MLS
• 2023-05-31 Relisted — Global MLS
• 2023-03-14 Relisted — Global MLS
• 2023-02-23 Pending — Global MLS
• 2023-02-23 Listing Removed — Global MLS
• 2023-02-23 Listing Removed — Global MLS
• 2023-02-06 Price Changed $56,900 Global MLS
• 2022-11-24 Listed $59,900 Global MLS
• 2022-05-22 Listing Removed — Global MLS
• 2022-05-02 Relisted — Global MLS
• 2022-02-15 Pending — Global MLS
• 2021-11-20 Listed $47,000 Global MLS

Property tax history

+0.9%/yr

Latest (2025): $1,124 · +3.4% YoY. Source: county tax records.