124 West Hatfield St · Massena, NY 13662

$129,000

4 bd · 2.0 ba · 1,790 sqft · MultiFamily · 197 Days on market

Built 1950 Fair condition $72/sqft · at area comps Est $130k · at est. ↓ 48% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.9/15.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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

GREAT INCOME POTENTIAL! Don’t miss this opportunity to own a well-maintained two-unit home with great rental potential! Each apartment has been freshly painted and features new flooring and updated bathrooms. The downstairs apartment offers a kitchen, dining room, living room, two bedrooms, one full bathroom, and a mudroom. The laundry area is located in the basement for convenient access. The upstairs apartment includes a kitchen, living room, two bedrooms, and one full bathroom. This property is located in the Massena Electric District and features two electric meters, two electric water heaters, and electric heat. Tenants are responsible for their own electric, heat, and internet, keeping owner expenses low. Please note that this listing includes only the home and its immediate parcel and the shed next to the home. The building out back, greenhouse, and land behind the greenhouse do not convey. Final lot size and property tax amounts will be determined. Schedule your private showing today—this property won’t last long!

Key facts

• Two unit home
• Kitchen
• New flooring

Tags

• TWO UNIT HOME
• FRESHLY PAINTED
• NEW FLOORING
• UPDATED BATHROOMS
• KITCHEN
• DINING ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $129k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 5.2% 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.
• Zoned schools: J William Leary Junior High School (math 29% / reading 36%, grade F, #504 of 729 statewide, top 70%, 368 students, 61% FRL); Massena Senior High School (math 87% / reading 75%, grade A, #485 of 1,100 statewide, top 45%, 826 students, 61% FRL).
• Market conditions: 175 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 $892 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.51% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.35%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $130,095
• List price: $129,000
• Delta: -0.84%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.9%
• Equity multiple: 1.56×
• Total profit: $20,059
• Equity at exit: $19,234

10-year hold

• IRR: 22.7%
• Equity multiple: 2.95×
• Total profit: $70,294
• Equity at exit: $11,154

Cash invested: $36,120 (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: 175
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,942 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $643

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 62%

Sensitivity live

Price	-10% $732	-5% $687	+0% $643	+5% $598	+10% $554
Rent	-10% $489	-5% $566	+0% $643	+5% $719	+10% $796
Rate	-1.0pp $708	-0.5pp $675	base $643	+0.5pp $609	+1.0pp $575

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,942
Total (2 units)			$1,942

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $129,000 Active 197 DOM
2. 2026-06-21
   days on market $129,000 Active 196 DOM
3. 2026-06-18
   days on market $129,000 Active 194 DOM
4. 2026-06-17
   days on market $129,000 Active 193 DOM
5. 2026-06-16
   days on market $129,000 Active 192 DOM
6. 2026-06-15
   days on market $129,000 Active 191 DOM
7. 2026-06-13
   days on market $129,000 Active 189 DOM
8. 2026-06-12
   days on market $129,000 Active 188 DOM
9. 2026-06-09
   days on market $129,000 Active 185 DOM
10. 2026-06-08
    days on market $129,000 Active 184 DOM
11. 2026-06-07
    days on market $129,000 Active 183 DOM
12. 2026-06-04
    days on market $129,000 Active 179 DOM
13. 2026-06-02
    days on market $129,000 Active 178 DOM
14. 2026-06-01
    days on market $129,000 Active 177 DOM
15. 2026-05-31
    days on market $129,000 Active 176 DOM
16. 2026-02-26
    price $129,000 1055-char remark

    Show marketing remark (1055 chars)

    GREAT INCOME POTENTIAL! Don’t miss this opportunity to own a well-maintained two-unit home with great rental potential! Each apartment has been freshly painted and features new flooring and updated bathrooms. The downstairs apartment offers a kitchen, dining room, living room, two bedrooms, one full bathroom, and a mudroom. The laundry area is located in the basement for convenient access. The upstairs apartment includes a kitchen, living room, two bedrooms, and one full bathroom. This property is located in the Massena Electric District and features two electric meters, two electric water heaters, and electric heat. Tenants are responsible for their own electric, heat, and internet, keeping owner expenses low. Please note that this listing includes only the home and its immediate parcel and the shed next to the home. The building out back, greenhouse, and land behind the greenhouse do not convey. Final lot size and property tax amounts will be determined. Schedule your private showing today—this property won’t last long!

17. 2025-12-06
    listed $132,000 Active 1055-char remark

    Show marketing remark (1055 chars)

    GREAT INCOME POTENTIAL! Don’t miss this opportunity to own a well-maintained two-unit home with great rental potential! Each apartment has been freshly painted and features new flooring and updated bathrooms. The downstairs apartment offers a kitchen, dining room, living room, two bedrooms, one full bathroom, and a mudroom. The laundry area is located in the basement for convenient access. The upstairs apartment includes a kitchen, living room, two bedrooms, and one full bathroom. This property is located in the Massena Electric District and features two electric meters, two electric water heaters, and electric heat. Tenants are responsible for their own electric, heat, and internet, keeping owner expenses low. Please note that this listing includes only the home and its immediate parcel and the shed next to the home. The building out back, greenhouse, and land behind the greenhouse do not convey. Final lot size and property tax amounts will be determined. Schedule your private showing today—this property won’t last long!

18. 2025-08-18
    price $237,000
19. 2025-07-14
    price $270,000
20. 2025-04-08
    listed $130,000 Active
21. 2025-04-07
    listed $290,000 Active
22. 2024-04-20
    status Active
23. 2023-12-04
    price $220,000
24. 2023-10-19
    listed $250,000 Active

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

Taxation est. · year 1

• Rental income: $23,304
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − Depreciation: −$3,753
• Taxable income: $6,017
• Est. tax owed @ 24.0%: −$1,444
• After-tax cash flow: $6,268/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 · 12 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate renovations to improve its condition and value. Repainting, replacing appliances, flooring, and exterior siding are recommended.

Repairs flagged

• Major Appliances — Old and worn
• Major Bathroom — Cluttered and in need of cleaning
• Major Exterior siding — Signs of wear and tear
• Major Flooring — Worn
• Major Paint — Chipped and worn

Value-add opportunities

• Both Paint interior walls and ceilings — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace appliances — Modern appliances improve functionality and attract tenants
• Both Replace flooring — New flooring improves comfort and aesthetics
• Both Replace exterior siding — Fresh siding enhances curb appeal and durability

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Old and worn	Major	$15,000–50,000
Bathroom · Cluttered and in need of cleaning	Major	$15,000–50,000
Exterior siding · Signs of wear and tear	Major	$15,000–50,000
Flooring · Worn	Major	$15,000–50,000
Paint · Chipped and worn	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Paint interior walls and ceilings — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace appliances — Modern appliances improve functionality and attract tenants ↑
• Both Replace flooring — New flooring improves comfort and aesthetics ↑
• Both Replace exterior siding — Fresh siding enhances curb appeal and durability ↑

ⓘ 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

-48.4% since first listed

9 events — show timeline

• 2026-02-26 Price Changed $129,000 SLCMLS
• 2025-12-06 Listed $132,000 SLCMLS
• 2025-08-18 Price Changed $237,000 SLCMLS
• 2025-07-14 Price Changed $270,000 SLCMLS
• 2025-04-08 Listed $130,000 SLCMLS
• 2025-04-07 Listed $290,000 SLCMLS
• 2024-04-20 Relisted — SLCMLS
• 2023-12-04 Price Changed $220,000 SLCMLS
• 2023-10-19 Listed $250,000 SLCMLS