4 Grinnell Ave · Massena, NY 13662

$89,900

4 bd · 2.0 ba · 1,492 sqft · MultiFamily public records · 78 Days on market

Built 1910 7,500 sqft lot $60/sqft · 24% below area Est $118k · 24% under

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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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +8.2/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

The two-unit house boasts two 2-bedroom, 1 bathroom with carpet and vinyl flooring, complemented by tile flooring in the bathrooms. Shared laundry hookups in the basement offers convenience. A spacious backyard provides outdoor living space. Each tenant covers their utilities except for water, sewer, and trash. With separate electrical and water meters, this property offers versatility as is or can be converted into luxurious single-family home. This property presents versatility and income-generating opportunities. Call today for your private showing.

Key facts

• 7,500 sq ft lot
• Built 1910
• Listed 78 days

🏷️ Possibly a rental listed for sale. The $89,900 price doesn't fit this home's estimated sale value (~$117,785) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.32% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.59%
• DSCR: 1.52
• GRM: 6.3

CMA / ARV

• ARV (median comp): $117,785
• List price: $89,900
• Delta: -23.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
41, 41 1/2 Douglas Rd	0.62mi	4/2.0	1,664 (+12%)	6mo	$85,000	$51	47
44 Glenn St	0.29mi	3/2.0 (-1)	1,700 (+14%)	21mo	$61,000	$36	41
50 & 50 1/2 Parker Ave	0.57mi	5/3.5 (+1)	1,600 (+7%)	12mo	$167,000	$104	41
150 Maple St	0.74mi	3/2.0 (-1)	1,500 (+0%)	24mo	$63,000	$42	39

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $983
• Equity at exit: $13,404

10-year hold

• IRR: 10.7%
• Equity multiple: 1.84×
• Total profit: $21,061
• Equity at exit: $7,773

Cash invested: $25,172 (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 13662

• Home prices YoY: -6.4%
• Active inventory: 171
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,191 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$189 /mo · $2,265/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $243

Break-even live

Break-even rent $883

Max offer price $89,900

Occupancy floor 75%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $89,900 Active 78 DOM
2. 2026-06-17
   days on market $89,900 Active 77 DOM
3. 2026-06-16
   days on market $89,900 Active 76 DOM
4. 2026-06-15
   days on market $89,900 Active 75 DOM
5. 2026-06-13
   days on market $89,900 Active 73 DOM
6. 2026-06-12
   days on market $89,900 Active 72 DOM
7. 2026-06-09
   days on market $89,900 Active 69 DOM
8. 2026-06-08
   days on market $89,900 Active 68 DOM
9. 2026-06-07
   days on market $89,900 Active 67 DOM
10. 2026-06-04
    days on market $89,900 Active 63 DOM
11. 2026-06-02
    days on market $89,900 Active 62 DOM
12. 2026-06-01
    days on market $89,900 Active 61 DOM
13. 2026-05-31
    days on market $89,900 Active 60 DOM
14. 2026-04-01
    listed $89,900 Active 558-char remark

    Show marketing remark (558 chars)

    The two-unit house boasts two 2-bedroom, 1 bathroom with carpet and vinyl flooring, complemented by tile flooring in the bathrooms. Shared laundry hookups in the basement offers convenience. A spacious backyard provides outdoor living space. Each tenant covers their utilities except for water, sewer, and trash. With separate electrical and water meters, this property offers versatility as is or can be converted into luxurious single-family home. This property presents versatility and income-generating opportunities. Call today for your private showing.

15. 2018-10-25
    soldstatus $80,000
16. 2002-02-07
    soldstatus $40,000

ⓘ 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: $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 4/10 Moderate FEMA zone X · 21% 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: $14,291
• − Mortgage interest: −$5,036
• − Property taxes: −$2,265
• − Insurance: −$450
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − Depreciation: −$2,615
• Taxable income: $1,639
• Est. tax owed @ 24.0%: −$393
• After-tax cash flow: $2,525/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

+124.8% since first listed

3 events — show timeline

• 2026-04-01 Listed $89,900 SLCMLS
• 2018-10-25 Sold (Public Records) $80,000 Public Records
• 2002-02-07 Sold (Public Records) $40,000 Public Records

Property tax history

+0.8%/yr

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