22 Woodside Ave · Gloversville, NY 12078

$70,000

6 bd · 2.0 ba · 2,408 sqft · MultiFamily public records · 31 Days on market

Built 1900 Est $111k · 37% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 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

Multi-family units

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

Listing remarks

This is a lovely 2 family home, which is fully rented The asking price is 70k but it can be purchased with 22 Woodside Ave whose asking price is 80k but both together you can obtain it for 135k

Key facts

• Built 1900
• Listed 30 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $641/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.3% vs local median 8.7% 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: 165 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($484 loan paydown + $7k 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 $20k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $37k; list at $70k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 3.23% ✓
• Cap rate: 28.27%
• Cash-on-cash: 78.48%
• DSCR: 4.49
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $110,768
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
253 S Main St	0.09mi	5/2.0 (-1)	2,400 (-0%)	7mo	$110,000	$46	84
72 S Judson St	0.71mi	6/3.0	2,450 (+2%)	8mo	$165,000	$67	54
26 West St	0.58mi	6/2.0	2,532 (+5%)	20mo	$82,000	$32	48
44 Forest St	0.47mi	6/2.0	2,760 (+15%)	9mo	$179,000	$65	46
63 W Pine St	0.19mi	5/3.0 (-1)	2,749 (+14%)	16mo	$219,000	$80	45
38 Forest St	0.46mi	6/2.0	2,652 (+10%)	20mo	$61,500	$23	45
49 Montgomery St	0.66mi	6/2.0	2,224 (-8%)	19mo	$40,000	$18	41
92-94 Washington St	0.73mi	6/3.0	2,752 (+14%)	2mo	$135,000	$49	36
75 Park St	0.52mi	6/2.0	2,080 (-14%)	20mo	$80,000	$38	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: 88.6%
• Equity multiple: 7.11×
• Total profit: $119,814
• Equity at exit: $63,062

10-year hold

• IRR: 83.3%
• Equity multiple: 15.73×
• Total profit: $288,725
• Equity at exit: $135,995

Cash invested: $19,600 (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: 165
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,263 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$110 /mo · $1,316/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $1,282

Break-even live

Break-even rent $640

Max offer price $70,000

Occupancy floor 38%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,264
Total (2 units)			$2,263

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $70,000 Active 31 DOM
2. 2026-06-17
   days on market $70,000 Active 30 DOM
3. 2026-06-16
   days on market $70,000 Active 29 DOM
4. 2026-06-15
   days on market $70,000 Active 28 DOM
5. 2026-06-13
   days on market $70,000 Active 26 DOM
6. 2026-06-12
   days on market $70,000 Active 25 DOM
7. 2026-06-09
   days on market $70,000 Active 22 DOM
8. 2026-06-08
   days on market $70,000 Active 21 DOM
9. 2026-06-07
   days on market $70,000 Active 20 DOM
10. 2026-06-07
    days on market $70,000 Active 19 DOM
11. 2026-06-04
    days on market $70,000 Active 16 DOM
12. 2026-06-02
    days on market $70,000 Active 15 DOM
13. 2026-06-01
    days on market $70,000 Active 14 DOM
14. 2026-05-31
    days on market $70,000 Active 13 DOM
15. 2026-05-19
    listed $70,000 Active
16. 1997-10-09
    soldstatus $37,000

ⓘ 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: $1,316 · $110/mo
• Projected year-2 tax: $1,316 · $110/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 6/10 Major FEMA zone X · 66% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $27,156
• − Mortgage interest: −$3,921
• − Property taxes: −$1,316
• − Insurance: −$350
• − Repairs & maintenance: −$2,172
• − Management: −$2,172
• − Depreciation: −$2,036
• Taxable income: $15,188
• Est. tax owed @ 24.0%: −$3,645
• After-tax cash flow: $11,737/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

+89.2% since first listed

2 events — show timeline

• 2026-05-19 Listed $70,000 FSBO.com
• 1997-10-09 Sold (Public Records) $37,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,316 · +5.4% YoY. Source: county tax records.