32 Andrews St · Massena, NY 13662

$259,000

1 bd · 2.0 ba · 5,252 sqft · MultiFamily · 30 Days on market

Built 1950 Good condition 3,200 sqft lot

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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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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

EXCEPTIONAL COMMERCIAL BUILDING LOCATED IN THE HEART OF MASSENA. The building offers over 5200 square feet of space. The main level is a wide open carpeted space with half bath, kitchen, several storage rooms and electrical room. This is presently used by the owner as a gift shop. Upstairs has a large FURNISHED apartment which was new a few years ago and offers large kitchen with appliances, full bathroom with walk in shower and laundry. Also upstairs, and accessed separately, is a completely remodeled space with 4 large offices, common kitchen and common bathroom. These units are all brand new. The building is totally electric and offers town water and sewer. Presently the apartment is boo

Key facts

• Furnished apartment
• Ample parking
• Large kitchen

Tags

• WIDE OPEN SPACE
• FURNISHED APARTMENT
• LARGE KITCHEN
• WALK IN SHOWER
• REMODELED SPACE
• AMPLE PARKING

Property features AI

Finance

• Other: Directions: Building is located on Andrews Street right next to the fire department.
• Financial info: Annual tax amount reported (amount withheld from output per instructions)
• HOA & community: Details not provided

Exterior

• Parking: Details not provided
• Security: Details not provided
• Utilities: Public water; Public sewer; Cable available
• Home design: Multi-family residential income property; 2 stories
• Construction: Brick, block, and metal siding exterior; Slab foundation
• Exterior features: Lot approximately 32 x 100; Zoned commercial CBD

Interior

• Kitchen: Refrigerator; Cooktop
• Bedrooms: Details not provided
• Flooring: Carpet; Ceramic tile; Laminate; Tile; Vinyl
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Heating & cooling: Electric heating; Ceiling fan(s)
• Interior features: Window coverings; Insulated windows; Electric water heater
• Laundry & utility: Details not provided

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath multifamily listed at $259k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $255k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 5.3% 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: 171 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 $2k of loan paydown is wiped out by about $8k 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 $73k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y 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 $255,115 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.91%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $3,932
• Equity at exit: $38,618

10-year hold

• IRR: 11.0%
• Equity multiple: 1.86×
• Total profit: $62,662
• Equity at exit: $22,394

Cash invested: $72,520 (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: 171
• Price-to-rent: 20.4×

Monthly cashflow live

• Estimated rent: $3,177 medium
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $720

Break-even live

Break-even rent $2,266

Max offer price $259,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,177
Total (3 units)			$3,177

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $259,000 Active 30 DOM
2. 2026-06-17
   days on market $259,000 Active 29 DOM
3. 2026-06-16
   days on market $259,000 Active 28 DOM
4. 2026-06-15
   days on market $259,000 Active 27 DOM
5. 2026-06-13
   days on market $259,000 Active 25 DOM
6. 2026-06-12
   days on market $259,000 Active 24 DOM
7. 2026-06-09
   days on market $259,000 Active 21 DOM
8. 2026-06-08
   days on market $259,000 Active 20 DOM
9. 2026-06-07
   days on market $259,000 Active 19 DOM
10. 2026-06-04
    days on market $259,000 Active 15 DOM
11. 2026-06-02
    days on market $259,000 Active 14 DOM
12. 2026-06-01
    days on market $259,000 Active 13 DOM
13. 2026-05-31
    days on market $259,000 Active 12 DOM
14. 2026-05-19
    listed $259,000 Active
15. 2025-01-09
    status Active
16. 2024-06-26
    status Active
17. 2024-02-03
    status Active
18. 2023-10-03
    status Active
19. 2023-09-06
    status Active
20. 2023-08-12
    historical
21. 2023-08-02
    status Active
22. 2022-06-21
    listed $259,000 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: $38,124
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$1,295
• − Repairs & maintenance: −$3,050
• − Management: −$3,050
• − Depreciation: −$7,535
• Taxable income: $4,802
• Est. tax owed @ 24.0%: −$1,152
• After-tax cash flow: $7,487/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

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with a good condition score of 80. It has a cosmetic rehab level and requires minimal repairs and maintenance. The highest-ROI updates would be painting, flooring, kitchen appliances, and lighting upgrades to enhance the overall appeal and functionality of the space.

Value-add opportunities

• Both Painting and updating the interior walls and ceiling fans — Enhances the aesthetic appeal and functionality of the space.
• Both Upgrading the flooring to a more modern material — Improves the overall look and feel of the space, making it more appealing to potential buyers or renters.
• Both Upgrading the kitchen appliances — Modernizes the kitchen and makes it more functional for both residents and potential buyers.
• Both Upgrading the lighting fixtures — Enhances the ambiance and functionality of the space, making it more appealing to potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting and updating the interior walls and ceiling fans — Enhances the aesthetic appeal and functionality of the space. ↑
• Both Upgrading the flooring to a more modern material — Improves the overall look and feel of the space, making it more appealing to potential buyers or renters. ↑
• Both Upgrading the kitchen appliances — Modernizes the kitchen and makes it more functional for both residents and potential buyers. ↑
• Both Upgrading the lighting fixtures — Enhances the ambiance and functionality of the space, making it more appealing to potential buyers or renters. ↑

ⓘ 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

+0.0% since first listed

9 events — show timeline

• 2026-05-19 Listed $259,000 SLCMLS
• 2025-01-09 Relisted — SLCMLS
• 2024-06-26 Relisted — SLCMLS
• 2024-02-03 Relisted — SLCMLS
• 2023-10-03 Relisted — SLCMLS
• 2023-09-06 Relisted — SLCMLS
• 2023-08-12 Delisted — SLCMLS
• 2023-08-02 Relisted — SLCMLS
• 2022-06-21 Listed $259,000 SLCMLS