18 Park Ave · Massena, NY 13662

$199,000

77 bd · 52.5 ba · 4,744 sqft · MultiFamily public records · 241 Days on market

Built 1930 4,760 sqft lot $42/sqft · 51% below area

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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
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investor’s Dream – Sweat equity is needed 7-Unit Multi-Family Property in Massena, NY! The potential of this property is unbeleivable with the river view from the upper floors. Please be aware this property is vacant and has been severely damaged and boarded up, which is the reason for the low price. An investor would have to put a certain amount of hard work to get it back to its glory, It was damaged by a tenant, but if you are handy, and want a good buy, this is the one to work on, and recoup the glory of this huge rental.

Key facts

• River view
• 4,760 sq ft lot
• Built 1930

Tags

• RIVER VIEW
• MULTI-FAMILY PROPERTY

What this means for you Summary

Snapshot

• This is a 7 × 11-bed/7.5-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $571/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 30.7% vs local median 5.3% in Massena — 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 73/100 on livability (#330 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, crime D-, commute F.
• Massena Central School District (town): math 43% / reading 49% proficiency, ranked #456 of 590 in NY (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 171 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 241 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 241 days. Have you received any prior offers? Is the seller open to a 12% 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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.
10. 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.
11. 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: 3.46% ✓
• Cap rate: 30.74%
• Cash-on-cash: 87.32%
• DSCR: 4.89
• GRM: 2.4

CMA / ARV

• ARV (median comp): $119,896
• List price: $199,000
• Delta: 65.98%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 86.6%
• Equity multiple: 4.99×
• Total profit: $222,587
• Equity at exit: $29,672

10-year hold

• IRR: 89.7%
• Equity multiple: 10.37×
• Total profit: $522,360
• Equity at exit: $17,206

Cash invested: $55,720 (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 13662

• Home prices YoY: -6.4%
• Active inventory: 171
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $6,882 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$256 /mo · $3,070/yr
• Insurance: −$83
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,445
• Net cashflow: $3,999

Break-even live

Break-even rent $1,820

Max offer price $199,000

Occupancy floor 37%

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

Units	Beds	Baths	Est. rent
▸ 7× units	11	7.5	$6,881
Total (7 units)			$6,882

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $199,000 Active 241 DOM
2. 2026-06-17
   days on market $199,000 Active 240 DOM
3. 2026-06-16
   days on market $199,000 Active 239 DOM
4. 2026-06-15
   days on market $199,000 Active 238 DOM
5. 2026-06-13
   days on market $199,000 Active 236 DOM
6. 2026-06-12
   days on market $199,000 Active 235 DOM
7. 2026-06-09
   days on market $199,000 Active 232 DOM
8. 2026-06-08
   days on market $199,000 Active 231 DOM
9. 2026-06-07
   days on market $199,000 Active 230 DOM
10. 2026-06-04
    days on market $199,000 Active 226 DOM
11. 2026-06-02
    days on market $199,000 Active 225 DOM
12. 2026-06-01
    days on market $199,000 Active 224 DOM
13. 2026-05-31
    days on market $199,000 Active 223 DOM
14. 2025-10-21
    listed $199,000 Active 543-char remark

    Show marketing remark (543 chars)

    Investor’s Dream – Sweat equity is needed 7-Unit Multi-Family Property in Massena, NY! The potential of this property is unbeleivable with the river view from the upper floors. Please be aware this property is vacant and has been severely damaged and boarded up, which is the reason for the low price. An investor would have to put a certain amount of hard work to get it back to its glory, It was damaged by a tenant, but if you are handy, and want a good buy, this is the one to work on, and recoup the glory of this huge rental.

15. 2024-10-31
    listed $199,000 Active
16. 2023-06-02
    soldstatus $199,000
17. 2023-01-12
    listed $199,000

ⓘ 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: $3,070 · $256/mo
• Projected year-2 tax: $3,217 · $268/mo
• Expected delta: +$146/yr (+$12/mo · 4.8%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $82,584
• − Mortgage interest: −$11,147
• − Property taxes: −$3,070
• − Insurance: −$1,662
• − Repairs & maintenance: −$6,607
• − Management: −$6,607
• − Depreciation: −$5,789
• Taxable income: $47,703
• Est. tax owed @ 24.0%: −$11,449
• After-tax cash flow: $36,538/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: Massena Central School District
• NCES district ID: 3618660
• Math proficiency: 43% ▼ -10.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $42,610
• Composite: 38.75/100
• National rank: #4123
• State rank: #456 of 590 in NY

Livability — Massena

• Score: 73/100
• State rank: #330
• US rank: #5449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Massena, NY
• City population: 15,737
• Population (ZIP): 15,737

Population outlook (St. Lawrence County) Hauer SSP2

• Today (2025): 110,027 people
• By 2030: 107,455 · -2.3%
• By 2040: 100,492 · -8.7%
• By 2050: 94,254 · -14.3%
• By 2075: 80,175 · -27.1%
• By 2100: 63,140 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 12% Slovak 2% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 1% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · St. Lawrence

• 2024 margin: R (+18.0) · D 41.0% · R 59.0%
• 2008→2024 swing: -34.3pp toward R · 2008: 16.3pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+11.7 2016: R+10.8 2012: D+16.6 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -16.77%
• Current HPI: 243.4674
• 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

+0.0% since first listed

4 events — show timeline

• 2025-10-21 Listed $199,000 SLCMLS
• 2024-10-31 Listed $199,000 SLCMLS
• 2023-06-02 Sold (MLS) $199,000 SLCMLS
• 2023-01-12 Listed $199,000 SLCMLS

Property tax history

+0.8%/yr

Latest (2025): $3,070 · -1.1% YoY. Source: county tax records.