140 Liberty Ave · Massena, NY 13662

$199,900

25 bd · 25.0 ba · 1,600 sqft · MultiFamily · 124 Days on market

Built 1960 Average condition 0.34 ac lot $125/sqft · 57% above 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
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

5-unit Multi-Family Investment Opportunity | 138-140 Liberty Avenue, with added extra lot 9.051-1-53 (parking area) in Massena, NY Discover a rare income-producing property in the heart of Massena, New York—a growing Upstate community known for its affordable electricity, high-speed internet, and outdoor lifestyle. This five-unit multi-family building offers excellent cash flow potential with all apartments currently occupied, making it ideal for real estate investors seeking strong returns and long-term value. The vinyl-sided building with a shingle roof features new exterior doors, updated electrical throughout, and a coin-operated laundry room for added income. A large parking area and extra lot are included—perfect for expansion, storage, or tenant recreation. Inside, several units have new flooring and updated interiors: Apartment 1: 1 bedroom, 1 bath, new flooring Apartment 2: 1 bedroom, 1 bath, new flooring Apartment 3: spacious layout with kitchen, dining room, living room, and bath Apartment 4: 2 bedrooms, 1 bath Apartment 5: 2 bedrooms, 1 bath (smaller back apartment) Located within walking distance to downtown Massena, tenants enjoy convenient access to a local airport with direct flights to Boston, local shops, restaurants, and local amenities. Just a short drive to Potsdam, Canton, and Clarkson Universities, as well as major regional destinations such as Ottawa, Montreal, and Plattsburgh. Enjoy nearby parks, libraries, museums, skiing, hiking, fishing, boating, camping, and the Akwesasne Mohawk Casino and Cultural Center, which draw year-round visitors and professionals. This property’s stable rental income, low utility costs, and central location in the Saint Lawrence County investment corridor make it an exceptional find for investors seeking multi-family or mixed-use rental assets in Upstate New York. Highlights: 5 fully rented units All new electrical Coin-operated laundry Extra lot & ample parking Low Massena electricity rates High-speed internet access Excellent ROI potential Don’t miss this high-yield opportunity to own an affordable, well-located income property in a vibrant, affordable Northern New York Community—perfect for tech industry remote workers, retirees, or savvy investors expanding their portfolio.

Key facts

• Extra lot
• Updated interiors
• New electrical

Tags

• EXTRA LOT
• COIN-OPERATED LAUNDRY
• NEW ELECTRICAL
• LARGE PARKING AREA
• UPDATED INTERIORS
• WALKING DISTANCE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/1-bath units multifamily listed at $200k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $393/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.1% 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: 174 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 ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 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 1960 — 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. 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?
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: 2.12% ✓
• Cap rate: 18.07%
• Cash-on-cash: 42.08%
• DSCR: 2.87
• GRM: 3.9

CMA / ARV

• ARV (median comp): $127,660
• List price: $199,900
• Delta: 56.59%
• 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: 38.8%
• Equity multiple: 2.66×
• Total profit: $92,671
• Equity at exit: $29,806

10-year hold

• IRR: 45.2%
• Equity multiple: 5.32×
• Total profit: $241,912
• Equity at exit: $17,284

Cash invested: $55,972 (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: 174
• Price-to-rent: 19.7×

Monthly cashflow live

• Estimated rent: $4,233 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$889
• Net cashflow: $1,963

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 49%

Sensitivity live

Price	-10% $2,101	-5% $2,032	+0% $1,963	+5% $1,894	+10% $1,824
Rent	-10% $1,628	-5% $1,795	+0% $1,963	+5% $2,130	+10% $2,297
Rate	-1.0pp $2,063	-0.5pp $2,013	base $1,963	+0.5pp $1,911	+1.0pp $1,858

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$4,235
Total (5 units)			$4,233

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-04
   status Pending 2313-char remark

   Show marketing remark (2313 chars)

   5-unit Multi-Family Investment Opportunity | 138-140 Liberty Avenue, with added extra lot 9.051-1-53 (parking area) in Massena, NY Discover a rare income-producing property in the heart of Massena, New York—a growing Upstate community known for its affordable electricity, high-speed internet, and outdoor lifestyle. This five-unit multi-family building offers excellent cash flow potential with all apartments currently occupied, making it ideal for real estate investors seeking strong returns and long-term value. The vinyl-sided building with a shingle roof features new exterior doors, updated electrical throughout, and a coin-operated laundry room for added income. A large parking area and extra lot are included—perfect for expansion, storage, or tenant recreation. Inside, several units have new flooring and updated interiors: Apartment 1: 1 bedroom, 1 bath, new flooring Apartment 2: 1 bedroom, 1 bath, new flooring Apartment 3: spacious layout with kitchen, dining room, living room, and bath Apartment 4: 2 bedrooms, 1 bath Apartment 5: 2 bedrooms, 1 bath (smaller back apartment) Located within walking distance to downtown Massena, tenants enjoy convenient access to a local airport with direct flights to Boston, local shops, restaurants, and local amenities. Just a short drive to Potsdam, Canton, and Clarkson Universities, as well as major regional destinations such as Ottawa, Montreal, and Plattsburgh. Enjoy nearby parks, libraries, museums, skiing, hiking, fishing, boating, camping, and the Akwesasne Mohawk Casino and Cultural Center, which draw year-round visitors and professionals. This property’s stable rental income, low utility costs, and central location in the Saint Lawrence County investment corridor make it an exceptional find for investors seeking multi-family or mixed-use rental assets in Upstate New York. Highlights: 5 fully rented units All new electrical Coin-operated laundry Extra lot & ample parking Low Massena electricity rates High-speed internet access Excellent ROI potential Don’t miss this high-yield opportunity to own an affordable, well-located income property in a vibrant, affordable Northern New York Community—perfect for tech industry remote workers, retirees, or savvy investors expanding their portfolio.

2. 2025-10-30
   listed $199,900 Active 2313-char remark

   Show marketing remark (2313 chars)

   5-unit Multi-Family Investment Opportunity | 138-140 Liberty Avenue, with added extra lot 9.051-1-53 (parking area) in Massena, NY Discover a rare income-producing property in the heart of Massena, New York—a growing Upstate community known for its affordable electricity, high-speed internet, and outdoor lifestyle. This five-unit multi-family building offers excellent cash flow potential with all apartments currently occupied, making it ideal for real estate investors seeking strong returns and long-term value. The vinyl-sided building with a shingle roof features new exterior doors, updated electrical throughout, and a coin-operated laundry room for added income. A large parking area and extra lot are included—perfect for expansion, storage, or tenant recreation. Inside, several units have new flooring and updated interiors: Apartment 1: 1 bedroom, 1 bath, new flooring Apartment 2: 1 bedroom, 1 bath, new flooring Apartment 3: spacious layout with kitchen, dining room, living room, and bath Apartment 4: 2 bedrooms, 1 bath Apartment 5: 2 bedrooms, 1 bath (smaller back apartment) Located within walking distance to downtown Massena, tenants enjoy convenient access to a local airport with direct flights to Boston, local shops, restaurants, and local amenities. Just a short drive to Potsdam, Canton, and Clarkson Universities, as well as major regional destinations such as Ottawa, Montreal, and Plattsburgh. Enjoy nearby parks, libraries, museums, skiing, hiking, fishing, boating, camping, and the Akwesasne Mohawk Casino and Cultural Center, which draw year-round visitors and professionals. This property’s stable rental income, low utility costs, and central location in the Saint Lawrence County investment corridor make it an exceptional find for investors seeking multi-family or mixed-use rental assets in Upstate New York. Highlights: 5 fully rented units All new electrical Coin-operated laundry Extra lot & ample parking Low Massena electricity rates High-speed internet access Excellent ROI potential Don’t miss this high-yield opportunity to own an affordable, well-located income property in a vibrant, affordable Northern New York Community—perfect for tech industry remote workers, retirees, or savvy investors expanding their portfolio.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 75% 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: $50,796
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$4,064
• − Management: −$4,064
• − Depreciation: −$5,815
• Taxable income: $21,658
• Est. tax owed @ 24.0%: −$5,198
• After-tax cash flow: $18,353/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.

Condition & rehab AI · 5 photos

Average 55/100 Moderate rehab

A moderate rehab opportunity with average exterior condition. Painting and landscaping would significantly enhance its resale and rental value.

Repairs flagged

• Minor Paint — Some discoloration on exterior siding
• Minor Landscaping — Overgrown grass and minimal landscaping

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value
• Both Landscaping — Improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Some discoloration on exterior siding	Minor	$500–3,000
Landscaping · Overgrown grass and minimal landscaping	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

2 events — show timeline

• 2026-05-04 Pending — SLCMLS
• 2025-10-30 Listed $199,900 SLCMLS