389 S Main St · Massena, NY 13662

$85,000

2 bd · 2.0 ba · 1,248 sqft · MultiFamily public records · 1176 Days on market

Built 1920 Fair condition 4,920 sqft lot $68/sqft · 38% below area Est $142k · 40% under ↓ 20% 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 +2.2/5.0
• 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

This cute two unit apartment home is the perfect investment starter! There are two apartments, downstairs there is a one bedroom/one bath apartment and upstairs there is a one bedroom/one bath apartment. There are two separate driveways, one for each unit, one gravel and one concrete. The house is vinyl sided with a metal roof. There is laundry in both apartments. Don’t miss out on this opportunity! Update May 2025-200 Amp service upgrade to the home! Downstairs apartment 200Amp box and upstairs 100Amp box.

Key facts

• 4,920 sq ft lot
• Built 1920
• Listed 1175 days

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $85k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $738 ($9k/yr) — positive. Per door: $369/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 5.9% 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: 256 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $588 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 1176 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $38k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 1176 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 2.14% ✓
• Cap rate: 16.71%
• Cash-on-cash: 37.20%
• DSCR: 2.66
• GRM: 3.9

CMA / ARV

• ARV (median comp): $141,924
• List price: $85,000
• Delta: -40.11%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Mccluskey Ave	0.10mi	3/1.0 (+1)	1,480 (+19%)	4mo	$95,000	$64	58
60 Hidy Ave	0.78mi	3/1.0 (+1)	1,276 (+2%)	2mo	$117,500	$92	51
75 Grove St	0.35mi	3/1.0 (+1)	1,000 (-20%)	2mo	$129,000	$129	48
40 Urban Dr	0.80mi	3/1.0 (+1)	1,184 (-5%)	0mo	$121,900	$103	47
27 Colgate Dr	0.44mi	3/1.0 (+1)	1,050 (-16%)	0mo	$95,000	$90	45
25 Howard St	0.76mi	3/1.0 (+1)	1,170 (-6%)	2mo	$50,000	$43	44
9 West Ave	1.34mi	2/2.0	1,000 (-20%)	5mo	$133,000	$133	36
145 Allen St	0.79mi	3/2.5 (+1)	1,456 (+17%)	1mo	$200,000	$137	32
7 Alden St	1.05mi	3/1.0 (+1)	1,100 (-12%)	6mo	$54,000	$49	32
44 Dover St	0.84mi	3/2.0 (+1)	1,044 (-16%)	4mo	$222,000	$213	32
31 Alden St	1.10mi	3/1.0 (+1)	1,548 (+24%)	0mo	$98,000	$63	31
28 Randall Dr	1.46mi	3/1.5 (+1)	936 (-25%)	6mo	$72,000	$77	28

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: 33.2%
• Equity multiple: 2.40×
• Total profit: $33,312
• Equity at exit: $12,674

10-year hold

• IRR: 40.2%
• Equity multiple: 4.78×
• Total profit: $89,904
• Equity at exit: $7,349

Cash invested: $23,800 (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: 256
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,819 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$218 /mo · $2,617/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $738

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,818
Total (2 units)			$1,819

Break-even live

Break-even rent $885

Max offer price $85,000

Occupancy floor 54%

Sensitivity live

Price	-10% $786	-5% $762	+0% $738	+5% $714	+10% $690
Rent	-10% $594	-5% $666	+0% $738	+5% $810	+10% $881
Rate	-1.0pp $781	-0.5pp $759	base $738	+0.5pp $716	+1.0pp $693

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: $21,250
• Closing costs: $2,550
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Depot St Unit 4 Massena, NY	—	1.0	300	$900	$3.00	139d	1	0.31mi

Property features AI

Finance

• Other: Lot approximately 41' x 120'

Exterior

• Parking: Concrete parkingGravel parking
• Utilities: Public waterPublic sewerCable availableNatural gas available
• Home design: Multi-family residential income property2 stories
• Construction: Vinyl siding
• Exterior features: Metal roof

Interior

• Kitchen: Electric cooktop
• Flooring: CarpetLaminateVinyl
• Bathrooms: 2 full bathrooms1 half bathroom
• Heating & cooling: Electric forced air heating
• Interior features: Walk-in closet(s)
• Laundry & utility: DryerElectric water heater

Listing history 50 events

1. 2026-09-17
   days on market $85,000 Active 1176 DOM
2. 2026-09-17
   days on market $85,000 Active 1175 DOM
3. 2026-09-16
   days on market $85,000 Active 1174 DOM
4. 2026-09-14
   days on market $85,000 Active 1173 DOM
5. 2026-09-13
   days on market $85,000 Active 1172 DOM
6. 2026-09-12
   days on market $85,000 Active 1171 DOM
7. 2026-09-11
   days on market $85,000 Active 1170 DOM
8. 2026-09-05
   days on market $85,000 Active 1164 DOM
9. 2026-09-04
   days on market $85,000 Active 1163 DOM
10. 2026-09-03
    days on market $85,000 Active 1162 DOM
11. 2026-09-02
    days on market $85,000 Active 1161 DOM
12. 2026-08-30
    days on market $85,000 Active 1158 DOM
13. 2026-08-29
    days on market $85,000 Active 1157 DOM
14. 2026-08-28
    days on market $85,000 Active 1156 DOM
15. 2026-08-27
    days on market $85,000 Active 1155 DOM
16. 2026-08-26
    days on market $85,000 Active 1154 DOM
17. 2026-08-25
    days on market $85,000 Active 1153 DOM
18. 2026-08-23
    days on market $85,000 Active 1151 DOM
19. 2026-08-22
    days on market $85,000 Active 1150 DOM
20. 2026-08-21
    days on market $85,000 Active 1149 DOM
21. 2026-08-20
    days on market $85,000 Active 1148 DOM
22. 2026-08-19
    days on market $85,000 Active 1147 DOM
23. 2026-08-18
    days on market $85,000 Active 1146 DOM
24. 2026-08-17
    days on market $85,000 Active 1145 DOM
25. 2026-08-16
    days on market $85,000 Active 1144 DOM
26. 2026-08-15
    days on market $85,000 Active 1143 DOM
27. 2026-08-14
    days on market $85,000 Active 1142 DOM
28. 2026-08-13
    days on market $85,000 Active 1141 DOM
29. 2026-08-12
    days on market $85,000 Active 1140 DOM
30. 2026-08-11
    days on market $85,000 Active 1139 DOM
31. 2026-08-10
    days on market $85,000 Active 1138 DOM
32. 2026-08-09
    days on market $85,000 Active 1137 DOM
33. 2026-08-08
    days on market $85,000 Active 1136 DOM
34. 2026-08-07
    days on market $85,000 Active 1135 DOM
35. 2026-08-06
    days on market $85,000 Active 1134 DOM
36. 2026-08-05
    days on market $85,000 Active 1133 DOM
37. 2026-08-04
    days on market $85,000 Active 1132 DOM
38. 2026-08-03
    days on market $85,000 Active 1131 DOM
39. 2026-07-31
    days on market $85,000 Active 1128 DOM
40. 2026-07-30
    days on market $85,000 Active 1127 DOM
41. 2026-07-29
    days on market $85,000 Active 1126 DOM
42. 2026-07-27
    days on market $85,000 Active 1124 DOM
43. 2026-07-25
    days on market $85,000 Active 1122 DOM
44. 2026-07-24
    days on market $85,000 Active 1121 DOM
45. 2026-07-23
    days on market $85,000 Active 1120 DOM
46. 2026-07-22
    days on market $85,000 Active 1119 DOM
47. 2026-07-21
    days on market $85,000 Active 1118 DOM
48. 2026-07-20
    days on market $85,000 Active 1117 DOM
49. 2026-07-18
    days on market $85,000 Active 1115 DOM
50. 2026-07-16
    days on market $85,000 Active 1113 DOM

ⓘ 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: $2,617 · $218/mo
• Projected year-2 tax: $2,617 · $218/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $21,828
• − Mortgage interest: −$4,761
• − Property taxes: −$2,617
• − Insurance: −$425
• − Repairs & maintenance: −$1,746
• − Management: −$1,746
• − Depreciation: −$2,473
• Taxable income: $8,060
• Est. tax owed @ 24.0%: −$1,934
• After-tax cash flow: $6,919/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $31,200–$56,160 screening

This two-unit apartment home requires moderate renovations to improve its condition and appeal. Upgrading the kitchen and bathrooms, along with freshening the exterior, can significantly increase its resale and rental value.

Components & finishes AI

Roof metal · good Flooring carpet Appliances white HVAC central · new lt5

Repairs flagged

• Minor Kitchen cabinets — Worn and dated appearance, but not structurally compromised.
• Minor Bathroom fixtures — Standard fixtures, but could be replaced for a more modern look.
• Minor Exterior paint — Vinyl siding appears intact, but could be repainted for a refreshed look.
• Minor Carpet — Carpeted floors in living areas, but could be replaced with hardwood or tile for a more modern aesthetic.
• Minor Paint — Painted walls in fair condition, but could benefit from fresh paint for a more updated look.
• Minor HVAC system — Standard system, but could benefit from a tune-up or replacement for optimal performance.

Value-add opportunities

• Both Kitchen renovation — Updating the kitchen can significantly increase the home's appeal and value for both resale and rental. ↑
• Both Bathroom updates — Modernizing the bathrooms can enhance the home's appeal and value for both resale and rental. ↑
• Both Exterior paint and landscaping — Refreshing the exterior appearance and adding landscaping can improve curb appeal and increase the home's value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

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

B Composite livability gradescore 73/100

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
• County: St. Lawrence · 110,027 people
• City population: 15,737
• Population (ZIP): 15,737
• Household income: $56,987
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 6% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Other: Lot approximately 41' x 120'

Exterior

• Parking: Concrete parkingGravel parking
• Utilities: Public waterPublic sewerCable availableNatural gas available
• Home design: Multi-family residential income property2 stories
• Construction: Vinyl siding
• Exterior features: Metal roof

Interior

• Kitchen: Electric cooktop
• Flooring: CarpetLaminateVinyl
• Bathrooms: 2 full bathrooms1 half bathroom
• Heating & cooling: Electric forced air heating
• Interior features: Walk-in closet(s)
• Laundry & utility: DryerElectric water heater

Price history

-20.2% since first listed

10 events — show timeline

• 2026-02-24 Relisted — SLCMLS
• 2025-10-07 Price Changed $98,500 SLCMLS
• 2025-10-07 Relisted — SLCMLS
• 2024-08-19 Relisted — SLCMLS
• 2024-07-30 Price Changed $111,000 SLCMLS
• 2024-02-19 Relisted — SLCMLS
• 2023-08-18 Relisted — SLCMLS
• 2023-08-17 Delisted — SLCMLS
• 2023-06-24 Price Changed $119,000 SLCMLS
• 2023-03-06 Listed $123,500 SLCMLS

Property tax history

+0.8%/yr

Latest (2025): $2,617 · -1.1% YoY. Source: county tax records.