92 New York 37b · Massena, NY 13662

$99,000

4 bd · 2.0 ba · 1,732 sqft · MultiFamily public records · 39 Days on market

Built 1997 Fair condition 0.67 ac lot 2-car garage $57/sqft · 43% below area Est $173k · 43% under ↓ 10% 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

Side-by-side duplex with each unit 2BD/1BA at discount due to work needed, 2 car garage. Assignment of contract.

Key facts

• 0.67 acre lot
• 2 garage spots
• Built 1997

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $99k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $735 ($9k/yr) — positive. Per door: $367/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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; 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 $684 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 $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.04% ✓
• Cap rate: 15.20%
• Cash-on-cash: 31.80%
• DSCR: 2.42
• GRM: 4.1

CMA / ARV

• ARV (median comp): $173,475
• List price: $99,000
• Delta: -42.93%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Old Farm Cir	0.20mi	3/3.0 (-1)	1,860 (+7%)	3mo	$335,000	$180	67
22 Churchill Ave	1.09mi	4/2.0	1,589 (-8%)	0mo	$255,000	$160	51
9 Rosebrier Ave	1.19mi	3/2.0 (-1)	1,753 (+1%)	12mo	$215,000	$123	48
61 County Road 43	0.91mi	3/2.0 (-1)	1,700 (-2%)	13mo	$159,650	$94	46
17 Elgin Ave	1.13mi	3/1.5 (-1)	1,618 (-7%)	5mo	$130,000	$80	43
9 Elgin Ave	1.08mi	4/1.5	1,868 (+8%)	12mo	$190,000	$102	40
11 Churchill Ave	1.07mi	4/2.5	2,082 (+20%)	1mo	$245,000	$118	37
14 Nightengale Ave	1.31mi	3/2.5 (-1)	1,856 (+7%)	13mo	$237,500	$128	35
14 Ransom Ave	1.44mi	3/2.0 (-1)	1,589 (-8%)	20mo	$99,000	$62	30
5 Sharon St	0.97mi	3/2.0 (-1)	2,136 (+23%)	9mo	$180,000	$84	27
43 Clarkson Ave	1.36mi	3/2.0 (-1)	1,325 (-24%)	17mo	$150,000	$113	21
6 Hospital Dr	1.25mi	3/3.0 (-1)	1,456 (-16%)	14mo	$122,570	$84	19

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: 26.8%
• Equity multiple: 2.11×
• Total profit: $30,886
• Equity at exit: $14,761

10-year hold

• IRR: 34.5%
• Equity multiple: 4.16×
• Total profit: $87,704
• Equity at exit: $8,560

Cash invested: $27,720 (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: 8.2×

Monthly cashflow live

• Estimated rent: $2,017 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$298 /mo · $3,580/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $735

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,016
Total (2 units)			$2,017

Break-even live

Break-even rent $1,087

Max offer price $99,000

Occupancy floor 59%

Sensitivity live

Price	-10% $791	-5% $763	+0% $735	+5% $707	+10% $679
Rent	-10% $575	-5% $655	+0% $735	+5% $814	+10% $894
Rate	-1.0pp $785	-0.5pp $760	base $735	+0.5pp $709	+1.0pp $683

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: $24,750
• Closing costs: $2,970
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Exterior

• Parking: 2 total parking spaces2-car garage
• Utilities: Public waterSeptic tank
• Home design: Duplex
• Construction: Vinyl siding
• Exterior features: Lot of approximately 0.67 acres

Interior

• Bedrooms: Each unit has 2 bedrooms (both units on 1st level)
• Bathrooms: Each unit has 1 full bathroom (both on 1st level)
• Heating & cooling: Electric heating
• Interior features: Full basement

Listing history 32 events

1. 2026-07-27
   days on market $99,000 Active 39 DOM
2. 2026-07-25
   days on market $99,000 Active 37 DOM
3. 2026-07-24
   days on market $99,000 Active 36 DOM
4. 2026-07-23
   days on market $99,000 Active 35 DOM
5. 2026-07-22
   days on market $99,000 Active 34 DOM
6. 2026-07-21
   days on market $99,000 Active 33 DOM
7. 2026-07-20
   days on market $99,000 Active 32 DOM
8. 2026-07-18
   days on market $99,000 Active 30 DOM
9. 2026-07-16
   days on market $99,000 Active 28 DOM
10. 2026-07-15
    days on market $99,000 Active 27 DOM
11. 2026-07-14
    days on market $99,000 Active 26 DOM
12. 2026-07-13
    days on market $99,000 Active 25 DOM
13. 2026-07-12
    days on market $99,000 Active 24 DOM
14. 2026-07-12
    days on market $99,000 Active 23 DOM
15. 2026-07-10
    days on market $99,000 Active 22 DOM
16. 2026-07-09
    days on market $99,000 Active 21 DOM
17. 2026-07-08
    pricedays on market $99,000 Active 19 DOM
18. 2026-07-06
    days on market $104,999 Active 18 DOM
19. 2026-07-05
    days on market $104,999 Active 17 DOM
20. 2026-07-05
    days on market $104,999 Active 16 DOM
21. 2026-07-03
    days on market $104,999 Active 15 DOM
22. 2026-07-02
    days on market $104,999 Active 14 DOM
23. 2026-07-01
    days on market $104,999 Active 13 DOM
24. 2026-06-30
    days on market $104,999 Active 12 DOM
25. 2026-06-29
    days on market $104,999 Active 11 DOM
26. 2026-06-28
    days on market $104,999 Active 10 DOM
27. 2026-06-27
    days on market $104,999 Active 9 DOM
28. 2026-06-26
    pricedays on market $104,999 Active 8 DOM
29. 2026-06-22
    days on market $109,999 Active 4 DOM
30. 2026-06-21
    days on market $109,999 Active 3 DOM
31. 2026-06-21
    remarks 112-char remark
32. 2026-06-21
    listed $109,999 Active 2 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: $3,580 · $298/mo
• Projected year-2 tax: $3,580 · $298/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°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: $24,204
• − Mortgage interest: −$5,546
• − Property taxes: −$3,580
• − Insurance: −$495
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$2,880
• Taxable income: $7,830
• Est. tax owed @ 24.0%: −$1,879
• After-tax cash flow: $6,937/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 $43,300–$77,940 screening

This side-by-side duplex requires moderate renovations to improve its exterior and interior condition, enhancing its resale and rental value.

Components & finishes AI

Flooring wood Counters granite Appliances white

Repairs flagged

• Major Landscaping — Overgrown and unkempt
• Major Foundation — Signs of settling
• Moderate Exterior siding — Weathered and peeling

Value-add opportunities

• Both Landscaping and exterior painting — Enhances curb appeal and property value ↑
• Both Kitchen and bathroom updates — Modernizes spaces and improves functionality ↑

ⓘ 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

• 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

Exterior

• Parking: 2 total parking spaces2-car garage
• Utilities: Public waterSeptic tank
• Home design: Duplex
• Construction: Vinyl siding
• Exterior features: Lot of approximately 0.67 acres

Interior

• Bedrooms: Each unit has 2 bedrooms (both units on 1st level)
• Bathrooms: Each unit has 1 full bathroom (both on 1st level)
• Heating & cooling: Electric heating
• Interior features: Full basement

Price history

-10.0% since first listed

3 events — show timeline

• 2026-07-07 Price Changed $99,000 Global MLS
• 2026-06-24 Price Changed $104,999 Global MLS
• 2026-06-18 Listed $109,999 Global MLS

Property tax history

+2.0%/yr

Latest (2025): $3,580 · -7.3% YoY. Source: county tax records.