22 Cornell Ave · Massena, NY 13662

$69,000

4 bd · 2.0 ba · 1,696 sqft · MultiFamily public records · 7 Days on market

Built 1920 7,848 sqft lot $41/sqft · 41% below area Est $116k · 41% under ↓ 1% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Awesome investment opportunity with this two family home. It sits on a corner lot with plenty of parking. Home is vinyl sided with a covered front deck for one apartment and a large mud room for the other. Upstairs apartment offers two bedrooms, bath, living room and kitchen. Downstairs also offers 2 bedrooms, bath, living room and kitchen. Downstairs apartment was remodeled 6 years ago along with a new furnace at that time. Two water heaters and two separate entrances. Great rentals for you investors…. or live in one and collect the rent in the other! Call for more details and get your showing scheduled before it’s too late.

Key facts

• Remodeled
• New furnace
• Vinyl-sided

Tags

• CORNER LOT
• VINYL-SIDED
• COVERED FRONT DECK
• LARGE MUD ROOM
• REMODELED
• NEW FURNACE

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Multi-family residential income property; Two stories
• Construction: Vinyl siding; Shingle roof
• Exterior features: Covered patio/porch; Corner lot

Interior

• Kitchen: Gas cooktop; Refrigerator
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Eat-in kitchen; Basement present
• Laundry & utility: Laundry in basement; Electric water heater; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $69k.

Deal economics

• At list price, monthly cash flow is $968 ($12k/yr) — positive. Per door: $484/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Cap rate 23.1% 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: 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 $477 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 4y 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 $54k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.84% ✓
• Cap rate: 23.13%
• Cash-on-cash: 60.14%
• DSCR: 3.68
• GRM: 2.9

CMA / ARV

• ARV (median comp): $116,170
• List price: $69,000
• Delta: -40.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
72 Center St	0.31mi	4/3.0	1,812 (+7%)	4mo	$70,000	$39	66
41, 41 1/2 Douglas Rd	0.62mi	4/2.0	1,664 (-2%)	5mo	$85,000	$51	64
44 Glenn St	0.51mi	3/2.0 (-1)	1,700 (+0%)	21mo	$61,000	$36	53
157 East Orvis St	0.42mi	4/2.0	1,907 (+12%)	14mo	$74,000	$39	48
50 & 50 1/2 Parker Ave	0.55mi	5/3.5 (+1)	1,600 (-6%)	12mo	$167,000	$104	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 58.9%
• Equity multiple: 3.62×
• Total profit: $50,583
• Equity at exit: $10,288

10-year hold

• IRR: 63.7%
• Equity multiple: 7.41×
• Total profit: $123,835
• Equity at exit: $5,966

Cash invested: $19,320 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,959 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$189 /mo · $2,265/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $968

Break-even live

Break-even rent $733

Max offer price $69,000

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,958
Total (2 units)			$1,959

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-06
   status Pending 680-char remark
2. 2026-04-28
   listed $69,000 Active 680-char remark
3. 2024-01-24
   soldstatus $54,000 Closed 647-char remark

   Show marketing remark (647 chars)

   Awesome investment opportunity with this two family home. It sits on a corner lot with plenty of parking. Home is vinyl sided with a covered front deck for one apartment and a large mud room for the other. Upstairs apartment offers two bedrooms, bath, living room and kitchen. Downstairs also offers 2 bedrooms, bath, living room and kitchen. Downstairs apartment was remodeled 6 years ago along with a new furnace at that time. Two water heaters and two separate entrances. Great rentals for you investors…. or live in one and collect the rent in the other! Call for more details and get your showing scheduled before it’s too late.

4. 2024-01-24
   soldstatus $54,000

   Show marketing remark (647 chars)

   Awesome investment opportunity with this two family home. It sits on a corner lot with plenty of parking. Home is vinyl sided with a covered front deck for one apartment and a large mud room for the other. Upstairs apartment offers two bedrooms, bath, living room and kitchen. Downstairs also offers 2 bedrooms, bath, living room and kitchen. Downstairs apartment was remodeled 6 years ago along with a new furnace at that time. Two water heaters and two separate entrances. Great rentals for you investors…. or live in one and collect the rent in the other! Call for more details and get your showing scheduled before it’s too late.

5. 2023-11-13
   status Pending 647-char remark

   Show marketing remark (647 chars)

   Awesome investment opportunity with this two family home. It sits on a corner lot with plenty of parking. Home is vinyl sided with a covered front deck for one apartment and a large mud room for the other. Upstairs apartment offers two bedrooms, bath, living room and kitchen. Downstairs also offers 2 bedrooms, bath, living room and kitchen. Downstairs apartment was remodeled 6 years ago along with a new furnace at that time. Two water heaters and two separate entrances. Great rentals for you investors…. or live in one and collect the rent in the other! Call for more details and get your showing scheduled before it’s too late.

6. 2023-09-18
   status Active 647-char remark

   Show marketing remark (647 chars)

   Awesome investment opportunity with this two family home. It sits on a corner lot with plenty of parking. Home is vinyl sided with a covered front deck for one apartment and a large mud room for the other. Upstairs apartment offers two bedrooms, bath, living room and kitchen. Downstairs also offers 2 bedrooms, bath, living room and kitchen. Downstairs apartment was remodeled 6 years ago along with a new furnace at that time. Two water heaters and two separate entrances. Great rentals for you investors…. or live in one and collect the rent in the other! Call for more details and get your showing scheduled before it’s too late.

7. 2023-09-06
   status Active 647-char remark

   Show marketing remark (647 chars)

   Awesome investment opportunity with this two family home. It sits on a corner lot with plenty of parking. Home is vinyl sided with a covered front deck for one apartment and a large mud room for the other. Upstairs apartment offers two bedrooms, bath, living room and kitchen. Downstairs also offers 2 bedrooms, bath, living room and kitchen. Downstairs apartment was remodeled 6 years ago along with a new furnace at that time. Two water heaters and two separate entrances. Great rentals for you investors…. or live in one and collect the rent in the other! Call for more details and get your showing scheduled before it’s too late.

8. 2023-08-12
   historical 647-char remark

   Show marketing remark (647 chars)

   Awesome investment opportunity with this two family home. It sits on a corner lot with plenty of parking. Home is vinyl sided with a covered front deck for one apartment and a large mud room for the other. Upstairs apartment offers two bedrooms, bath, living room and kitchen. Downstairs also offers 2 bedrooms, bath, living room and kitchen. Downstairs apartment was remodeled 6 years ago along with a new furnace at that time. Two water heaters and two separate entrances. Great rentals for you investors…. or live in one and collect the rent in the other! Call for more details and get your showing scheduled before it’s too late.

9. 2023-05-22
   status Active 647-char remark

   Show marketing remark (647 chars)

   Awesome investment opportunity with this two family home. It sits on a corner lot with plenty of parking. Home is vinyl sided with a covered front deck for one apartment and a large mud room for the other. Upstairs apartment offers two bedrooms, bath, living room and kitchen. Downstairs also offers 2 bedrooms, bath, living room and kitchen. Downstairs apartment was remodeled 6 years ago along with a new furnace at that time. Two water heaters and two separate entrances. Great rentals for you investors…. or live in one and collect the rent in the other! Call for more details and get your showing scheduled before it’s too late.

10. 2023-05-22
    price $64,000 647-char remark

    Show marketing remark (647 chars)

    Awesome investment opportunity with this two family home. It sits on a corner lot with plenty of parking. Home is vinyl sided with a covered front deck for one apartment and a large mud room for the other. Upstairs apartment offers two bedrooms, bath, living room and kitchen. Downstairs also offers 2 bedrooms, bath, living room and kitchen. Downstairs apartment was remodeled 6 years ago along with a new furnace at that time. Two water heaters and two separate entrances. Great rentals for you investors…. or live in one and collect the rent in the other! Call for more details and get your showing scheduled before it’s too late.

11. 2022-08-14
    listed $69,900 Active 647-char remark

    Show marketing remark (647 chars)

    Awesome investment opportunity with this two family home. It sits on a corner lot with plenty of parking. Home is vinyl sided with a covered front deck for one apartment and a large mud room for the other. Upstairs apartment offers two bedrooms, bath, living room and kitchen. Downstairs also offers 2 bedrooms, bath, living room and kitchen. Downstairs apartment was remodeled 6 years ago along with a new furnace at that time. Two water heaters and two separate entrances. Great rentals for you investors…. or live in one and collect the rent in the other! Call for more details and get your showing scheduled before it’s too late.

ⓘ 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: $2,265 · $189/mo
• Projected year-2 tax: $2,265 · $189/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 5/10 Major FEMA zone X · 62% 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: $23,508
• − Mortgage interest: −$3,865
• − Property taxes: −$2,265
• − Insurance: −$345
• − Repairs & maintenance: −$1,881
• − Management: −$1,881
• − Depreciation: −$2,007
• Taxable income: $11,265
• Est. tax owed @ 24.0%: −$2,704
• After-tax cash flow: $8,916/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

-1.3% since first listed

11 events — show timeline

• 2026-05-06 Pending — SLCMLS
• 2026-04-28 Listed $69,000 SLCMLS
• 2024-01-24 Sold (Public Records) $54,000 Public Records
• 2024-01-24 Sold (MLS) $54,000 SLCMLS
• 2023-11-13 Pending — SLCMLS
• 2023-09-18 Relisted — SLCMLS
• 2023-09-06 Relisted — SLCMLS
• 2023-08-12 Delisted — SLCMLS
• 2023-05-22 Relisted — SLCMLS
• 2023-05-22 Price Changed $64,000 SLCMLS
• 2022-08-14 Listed $69,900 SLCMLS

Property tax history

+0.8%/yr

Latest (2025): $2,265 · -1.1% YoY. Source: county tax records.