12 Newman St · Gloversville, NY 12078

$189,900

2 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 11 Days on market

Built 1953 10,454 sqft lot $144/sqft · 10% above area Est $173k · 10% over

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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
• Cash flow +8.5/30.0
• Livability +4.1/5.0
• ARV discount +3.2/15.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.6/10.0

Listing remarks

Beautifully updated 3-bedroom, 1-bath home located on a quiet street within walking distance to Darling Field with tennis, soccer, and pickleball courts. Features include a newer roof, replacement windows, central air, luxury vinyl flooring, a modern kitchen, and a spacious full bath. The enclosed front porch offers additional living space, while the rear deck overlooks a generous double lot, perfect for outdoor enjoyment. A well-maintained property offering comfort and convenience in an ideal location.

Key facts

• Quiet street
• Newer roof
• Updated home

Tags

• UPDATED HOME
• QUIET STREET
• NEWER ROOF
• REPLACEMENT WINDOWS
• CENTRAL AIR
• LUXURY VINYL FLOORING

Property features AI

Exterior

• Parking: Detached garage with 2 garage spaces; Additional paved off-street parking (total 4 spaces); Driveway with garage door opener
• Utilities: Public water; Public sewer; Circuit breaker electrical service; Cable connected
• Home design: Single family residence; Updated / remodeled; Shingle siding
• Construction: Asphalt roof
• Exterior features: Deck; Front porch (glass enclosed); Paved driveway; Exterior lighting; Detached garage(s)

Interior

• Kitchen: Dishwasher; Freezer; Microwave; Range; Refrigerator
• Bedrooms: Three bedrooms on the second level
• Flooring: Tile; Carpet; Hardwood
• Bathrooms: One full bathroom located on the second level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Paddle fan; Solid surface counters; Ceramic tile bath; 7 total rooms
• Laundry & utility: Washer hookup in the basement; Basement laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (33.9% below list).
• Recommended offer: $125k (33.9% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 8.7% in Gloversville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Gloversville High School (math 82% / reading 77%, grade A-, #518 of 1,100 statewide, top 51%, 697 students, 71% FRL) — zoned schools average 71% FRL vs 54% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 80% at this address vs 34% district-wide (+46 pts) — the actual schools serving this property are materially stronger than the Gloversville City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 165 active listings in the ZIP; 2 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 $20k of equity ($1k loan paydown + $19k 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.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $57k; list at $190k implies a 235% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,467 (33.9% 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 1953 — 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. 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?
5. 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?
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: 0.66% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.78%
• DSCR: 0.83
• GRM: 12.6

CMA / ARV

• ARV (median comp): $173,363
• List price: $189,900
• Delta: 9.54%
• 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
10 Franklin St	0.06mi	2/1.0	1,184 (-10%)	1mo	$43,000	$36	80
119 5th Ave	0.31mi	3/1.0 (+1)	1,350 (+2%)	1mo	$146,260	$108	76
139 5th Ave	0.33mi	3/1.0 (+1)	1,332 (+1%)	5mo	$105,000	$79	74
96 6th Ave	0.28mi	3/1.0 (+1)	1,425 (+8%)	2mo	$179,500	$126	67
20 Easterly St	0.43mi	3/2.0 (+1)	1,350 (+2%)	4mo	$198,000	$147	64
20 North Blvd	0.19mi	2/2.0	1,458 (+10%)	7mo	$199,900	$137	63
13 Newman St	0.02mi	3/2.0 (+1)	1,152 (-13%)	8mo	$160,000	$139	62
44 W 8th Ave	0.54mi	3/1.5 (+1)	1,408 (+7%)	5mo	$141,000	$100	53
62 3rd Ave	0.54mi	3/2.0 (+1)	1,209 (-8%)	3mo	$135,000	$112	50
3 State Cir	0.58mi	3/1.0 (+1)	1,189 (-10%)	6mo	$219,000	$184	46
503 N Main St	0.72mi	2/1.0	1,200 (-9%)	9mo	$60,000	$50	44
56 W State St	0.70mi	3/1.0 (+1)	1,172 (-11%)	6mo	$195,000	$166	39

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: 21.6%
• Equity multiple: 2.74×
• Total profit: $92,694
• Equity at exit: $171,077

10-year hold

• IRR: 19.5%
• Equity multiple: 6.29×
• Total profit: $281,197
• Equity at exit: $368,934

Cash invested: $53,172 (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 12078

• Home prices YoY: 12.2%
• Active inventory: 165
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,255 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$83 /mo · $1,002/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $-167

Break-even live

Break-even rent $1,466

Max offer price $160,347

Occupancy floor —

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Fremont St Gloversville, NY	2.0–3.0	1.5–2.0	1612	$1,425	$0.88	43d	3	0.88mi
130 Spring St Gloversville, NY	1.0	1.0	950	$995	$1.05	43d	1	1.18mi

Listing history 5 events

1. 2026-05-08
   listed $189,900 Active 508-char remark
2. 2025-09-06
   historical Contingent
3. 2025-09-06
   historical
4. 2025-08-29
   listed $179,900 Active
5. 2001-07-02
   soldstatus $56,700

ⓘ 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: $1,002 · $83/mo
• Projected year-2 tax: $2,106 · $175/mo
• Expected delta: +$1,104/yr (+$92/mo · 110.1%)

ⓘ 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 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: $15,056
• − Mortgage interest: −$10,637
• − Property taxes: −$1,002
• − Insurance: −$950
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$5,524
• Taxable loss: −$5,466
• Est. tax savings @ 24.0%: +$1,312
• After-tax cash flow: $-696/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

+234.9% since first listed

6 events — show timeline

• 2026-05-19 Pending — Global MLS
• 2026-05-08 Listed $189,900 Global MLS
• 2025-09-06 Contingent — Global MLS
• 2025-09-06 Listing Removed — Global MLS
• 2025-08-29 Listed $179,900 Global MLS
• 2001-07-02 Sold (Public Records) $56,700 Public Records

Property tax history

-3.5%/yr

Latest (2025): $1,002 · +14.0% YoY. Source: county tax records.