146 East Orvis St · Massena, NY 13662

$105,000

5 bd · 3.0 ba · 2,274 sqft · MultiFamily · 813 Days on market

Built 1960 Poor condition 7,791 sqft lot $46/sqft · 21% below area Est $132k · 21% under ↓ 30% 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 +1.0/5.0
• 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

COMMERCIAL STORE IN THE HEART OF MASSENA with living quarters in the back and two rental units upstairs. Potential to open your business and live in the same building and then make your mortgage with the two rental income upstairs. This sounds like a win win situation. Better take a look today!

Key facts

• 7,791 sq ft lot
• Garage
• Built 1960

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $105k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.9% 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.
• 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 $726 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 $29k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 813 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $45k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 813 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 1960 — 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: 2.74% ✓
• Cap rate: 23.95%
• Cash-on-cash: 63.05%
• DSCR: 3.81
• GRM: 3.0

CMA / ARV

• ARV (median comp): $132,395
• List price: $105,000
• Delta: -20.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 East Orvis St	0.32mi	4/2.0 (-1)	2,000 (-12%)	20mo	$82,000	$41	39
2 - 4 Ober	0.74mi	5/2.0	2,128 (-6%)	18mo	$126,000	$59	36

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: 62.1%
• Equity multiple: 3.77×
• Total profit: $81,420
• Equity at exit: $15,656

10-year hold

• IRR: 66.6%
• Equity multiple: 7.73×
• Total profit: $197,769
• Equity at exit: $9,078

Cash invested: $29,400 (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: 9.1×

Monthly cashflow live

• Estimated rent: $2,874 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $1,545

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,617	-5% $1,581	+0% $1,545	+5% $1,509	+10% $1,472
Rent	-10% $1,318	-5% $1,431	+0% $1,545	+5% $1,658	+10% $1,772
Rate	-1.0pp $1,598	-0.5pp $1,572	base $1,545	+0.5pp $1,518	+1.0pp $1,490

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,874
Total (3 units)			$2,874

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $105,000 Active 813 DOM
2. 2026-06-18
   days on market $105,000 Active 811 DOM
3. 2026-06-17
   days on market $105,000 Active 810 DOM
4. 2026-06-16
   days on market $105,000 Active 809 DOM
5. 2026-06-15
   days on market $105,000 Active 808 DOM
6. 2026-06-13
   days on market $105,000 Active 806 DOM
7. 2026-06-12
   days on market $105,000 Active 805 DOM
8. 2026-06-09
   days on market $105,000 Active 802 DOM
9. 2026-06-08
   days on market $105,000 Active 801 DOM
10. 2026-06-07
    days on market $105,000 Active 800 DOM
11. 2026-06-04
    days on market $105,000 Active 796 DOM
12. 2026-06-02
    days on market $105,000 Active 795 DOM
13. 2026-06-01
    days on market $105,000 Active 794 DOM
14. 2026-05-31
    days on market $105,000 Active 793 DOM
15. 2025-06-11
    price $105,000 295-char remark

    Show marketing remark (295 chars)

    COMMERCIAL STORE IN THE HEART OF MASSENA with living quarters in the back and two rental units upstairs. Potential to open your business and live in the same building and then make your mortgage with the two rental income upstairs. This sounds like a win win situation. Better take a look today!

16. 2025-04-03
    status Active 295-char remark

    Show marketing remark (295 chars)

    COMMERCIAL STORE IN THE HEART OF MASSENA with living quarters in the back and two rental units upstairs. Potential to open your business and live in the same building and then make your mortgage with the two rental income upstairs. This sounds like a win win situation. Better take a look today!

17. 2024-09-26
    status Active 295-char remark

    Show marketing remark (295 chars)

    COMMERCIAL STORE IN THE HEART OF MASSENA with living quarters in the back and two rental units upstairs. Potential to open your business and live in the same building and then make your mortgage with the two rental income upstairs. This sounds like a win win situation. Better take a look today!

18. 2024-08-28
    price $125,000 295-char remark

    Show marketing remark (295 chars)

    COMMERCIAL STORE IN THE HEART OF MASSENA with living quarters in the back and two rental units upstairs. Potential to open your business and live in the same building and then make your mortgage with the two rental income upstairs. This sounds like a win win situation. Better take a look today!

19. 2024-03-13
    listed $150,000 Active 295-char remark

    Show marketing remark (295 chars)

    COMMERCIAL STORE IN THE HEART OF MASSENA with living quarters in the back and two rental units upstairs. Potential to open your business and live in the same building and then make your mortgage with the two rental income upstairs. This sounds like a win win situation. Better take a look today!

ⓘ 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: $34,488
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$2,759
• − Management: −$2,759
• − Depreciation: −$3,055
• Taxable income: $17,934
• Est. tax owed @ 24.0%: −$4,304
• After-tax cash flow: $14,234/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

Poor 20/100 Extensive rehab

This property requires extensive renovations, including new appliances, windows, and HVAC units, to improve its resale and rental value.

Repairs flagged

• Major kitchen appliances — Old and outdated
• Major windows — Broken and missing
• Major HVAC units — Old and inefficient

Value-add opportunities

• Both New kitchen appliances — Modern appliances improve both resale and rental value
• Both New windows — New windows improve both resale and rental value
• Both HVAC upgrade — Upgraded HVAC improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · Old and outdated	Major	$15,000–50,000
windows · Broken and missing	Major	$15,000–50,000
HVAC units · Old and inefficient	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both New kitchen appliances — Modern appliances improve both resale and rental value ↑
• Both New windows — New windows improve both resale and rental value ↑
• Both HVAC upgrade — Upgraded HVAC improves comfort and energy efficiency ↑

ⓘ 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

-30.0% since first listed

5 events — show timeline

• 2025-06-11 Price Changed $105,000 SLCMLS
• 2025-04-03 Relisted — SLCMLS
• 2024-09-26 Relisted — SLCMLS
• 2024-08-28 Price Changed $125,000 SLCMLS
• 2024-03-13 Listed $150,000 SLCMLS