28 Martin St · Massena, NY 13662

$74,900

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 41 Days on market

Built 1907 9,900 sqft lot $83/sqft · 36% below area Est $117k · 36% under

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Why this score? — see what drove the C+ 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 +21.8/30.0
• ARV discount +15.0/15.0
• 1% rule +7.9/10.0
• DSCR +7.0/10.0
• 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

Listing remarks MLS

CUTE BUNGALOW with 2 car garage located in the village. Lot has a deep back yard for entertaining or gardening. Entering through the front door, you flow from livingroom, diningroom, into kitchen. Bedrooms are off to the side, with a first floor laundry room before entering bathroom. This home comes with a security system. Located close to amenities on a quiet street. Contact an agent for your showing soon!

Key facts

• Quiet street
• Deep back yard
• Security system

Tags

• DEEP BACK YARD
• SECURITY SYSTEM
• QUIET STREET

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($966 rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 $518 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1907 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• DSCR: 1.30
• GRM: 6.5

CMA / ARV

• ARV (median comp): $117,360
• List price: $74,900
• Delta: -36.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Orchard Rd	0.05mi	2/1.0	900 (0%)	2mo	$127,000	$141	96
3 Judith St	0.25mi	2/3.0	960 (+7%)	6mo	$158,100	$165	64
35 Roosevelt St	0.29mi	2/1.5	1,000 (+11%)	3mo	$74,675	$75	64
139 Beach St	0.29mi	2/1.5	1,000 (+11%)	6mo	$90,000	$90	61
15 Monroe Pkwy	0.39mi	3/1.0 (+1)	858 (-5%)	10mo	$82,000	$96	61
96 Stoughton Ave	0.32mi	3/1.5 (+1)	998 (+11%)	2mo	$119,000	$119	59
72 Beach St	0.24mi	3/1.5 (+1)	792 (-12%)	5mo	$121,900	$154	58
64 Roosevelt St	0.44mi	2/1.0	858 (-5%)	17mo	$83,740	$98	58
28 Marie St	0.30mi	3/2.0 (+1)	1,000 (+11%)	6mo	$85,000	$85	54
9 West Ave	0.52mi	2/2.0	1,000 (+11%)	2mo	$133,000	$133	52
79 Ober St	0.48mi	3/1.0 (+1)	955 (+6%)	14mo	$64,500	$68	51
80 Chase St	0.48mi	2/1.0	1,020 (+13%)	12mo	$32,000	$31	45

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-4,607
• Equity at exit: $11,168

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $5,944
• Equity at exit: $6,476

Cash invested: $20,972 (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: 6.5×

Monthly cashflow live

• Estimated rent: $966 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$222 /mo · $2,668/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $117

Break-even live

Break-even rent $818

Max offer price $74,900

Occupancy floor 83%

Sensitivity live

Price	-10% $159	-5% $138	+0% $117	+5% $96	+10% $74
Rent	-10% $40	-5% $79	+0% $117	+5% $155	+10% $193
Rate	-1.0pp $154	-0.5pp $136	base $117	+0.5pp $97	+1.0pp $78

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-18
   price $74,900 410-char remark

   Show marketing remark (410 chars)

   CUTE BUNGALOW with 2 car garage located in the village. Lot has a deep back yard for entertaining or gardening. Entering through the front door, you flow from livingroom, diningroom, into kitchen. Bedrooms are off to the side, with a first floor laundry room before entering bathroom. This home comes with a security system. Located close to amenities on a quiet street. Contact an agent for your showing soon!

2. 2026-04-14
   listed $79,900 Active 410-char remark

   Show marketing remark (410 chars)

   CUTE BUNGALOW with 2 car garage located in the village. Lot has a deep back yard for entertaining or gardening. Entering through the front door, you flow from livingroom, diningroom, into kitchen. Bedrooms are off to the side, with a first floor laundry room before entering bathroom. This home comes with a security system. Located close to amenities on a quiet street. Contact an agent for your showing soon!

3. 2022-11-09
   soldstatus $55,000 352-char remark

   Show marketing remark (352 chars)

   Located in the village on an oversized lot, this well maintained 2 bedroom bungalow features an updated kitchen, 1st floor laundry, updated electrical, newer roof, oversized 2 car garage, front porch, back deck, and a large backyard. The gas stove, refrigerator, and dishwasher all stay with the house. Priced to sell! Call for a private showing today.

4. 2022-11-09
   soldstatus $55,000

   Show marketing remark (352 chars)

   Located in the village on an oversized lot, this well maintained 2 bedroom bungalow features an updated kitchen, 1st floor laundry, updated electrical, newer roof, oversized 2 car garage, front porch, back deck, and a large backyard. The gas stove, refrigerator, and dishwasher all stay with the house. Priced to sell! Call for a private showing today.

5. 2022-10-12
   listed $59,900 352-char remark

   Show marketing remark (352 chars)

   Located in the village on an oversized lot, this well maintained 2 bedroom bungalow features an updated kitchen, 1st floor laundry, updated electrical, newer roof, oversized 2 car garage, front porch, back deck, and a large backyard. The gas stove, refrigerator, and dishwasher all stay with the house. Priced to sell! Call for a private showing today.

6. 2014-04-16
   soldstatus $42,000
7. 2004-04-07
   soldstatus $53,000
8. 2003-09-09
   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: $2,668 · $222/mo
• Projected year-2 tax: $2,668 · $222/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 3/10 Moderate
• 🌡 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: $11,591
• − Mortgage interest: −$4,196
• − Property taxes: −$2,668
• − Insurance: −$374
• − Repairs & maintenance: −$927
• − Management: −$927
• − Depreciation: −$2,179
• Taxable income: $320
• Est. tax owed @ 24.0%: −$77
• After-tax cash flow: $1,324/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

+87.2% since first listed

8 events — show timeline

• 2026-05-18 Price Changed $74,900 SLCMLS
• 2026-04-14 Listed $79,900 SLCMLS
• 2022-11-09 Sold (Public Records) $55,000 Public Records
• 2022-11-09 Sold (MLS) $55,000 SLCMLS
• 2022-10-12 Listed $59,900 SLCMLS
• 2014-04-16 Sold (Public Records) $42,000 Public Records
• 2004-04-07 Sold (Public Records) $53,000 Public Records
• 2003-09-09 Sold (Public Records) $40,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,668 · -1.1% YoY. Source: county tax records.