Two-Unit Duplex with Metal
For Sale
$149,000
9 Winter Street, Massena, NY 13662
MULTI_FAMILY - Massena, NY
Property Size1,449 SF
Price / SF$102.83
Days on Market40
Property Features for 9 Winter Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 4
Parking
4
Parking features
Driveway
Interior features
Modern kitchen
Exterior features
Outdoor lights
Directions
From Main Street take a right hand turn onto Garvin Avenue near Tim Hortons. Then take a right onto Winter Street. Second one in on the left hand side, look for sign.
Subdivision
ST LAWRENCE
Standard status
Active
APN
9.075-2-12
Size
1,449 SF
Taxes and HOA fees
Tax Annual Amount
2800
Utilities
Utilities
Cable Available
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Flooring type
Laminate, Carpet, Wood floors, Vinyl
Building materials
Vinyl siding
Roof type
Metal
Architectural style
Other
Listing Agency:
Kassian Real Estate, LLC
(315) 769-0025
Listed By:
Lucille Kassian · License #40KA0346866
(315) 250-2383
Added: Jul 22
Changed: Aug 3
Last Checked: Aug 30 at 4:06AM
MLS# 53112
Copyright © 2026 St. Lawrence Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Well-maintained two-family duplex offering two separate rental units. The first unit features three bedrooms, a full bathroom, a convenient laundry area, and a well-appointed kitchen with appliances included, plus a formal dining room and comfortable living room. This unit is heated by a natural gas furnace and served by a gas water heater. The second unit offers two bedrooms, a full bathroom, and an open-concept kitchen and living area, and is all-electric.
Each unit has its own utilities, with tenants paying their own heat and electricity. Updates include a durable metal roof and a newer paved driveway, supporting low-maintenance ownership. Exterior details include vinyl siding and outdoor lights.
The property was built in 1940. Interior finishes include laminate, carpet, wood floors, and vinyl flooring, with modern kitchen features noted. Public water service is available, and cable is available. Total building size is 1,449 square feet.
Each unit has its own utilities, with tenants paying their own heat and electricity. Updates include a durable metal roof and a newer paved driveway, supporting low-maintenance ownership. Exterior details include vinyl siding and outdoor lights.
The property was built in 1940. Interior finishes include laminate, carpet, wood floors, and vinyl flooring, with modern kitchen features noted. Public water service is available, and cable is available. Total building size is 1,449 square feet.
Key Highlights
- Each unit has its own utilities, with tenants paying their own heat and electricity
- First unit: three bedrooms, full bath, laundry, formal dining room and living room; natural gas furnace and gas water heater
- Second unit: two bedrooms, full bath, open‑concept kitchen and living area; all‑electric
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,404
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$148,080
$148.1K
Cap Rate 7%
$105,771
$105.8K
Cap Rate 9%
$82,267
$82.3K
Market Conditions
NOI Build-Up for 1,449 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$13.4K $9.24/SF
− Vacancy
−$2.8K −$1.94/SF
EGI
$10.6K $7.30/SF
− OpEx
−$3.2K −$2.19/SF
NOI
$7.4K $5.11/SF
Area
St. Lawrence County, NY
Vacancy
21.00%
Lease Rate
$9.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$148,080
Cap Rate 7%
$105,771
Cap Rate 9%
$82,267
Alternative Uses
Best Use
Multifamily LT 5
$105.8K
$92.6K – $123.4K
NOI $7,404 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$96.8K
$84.7K – $113.0K
NOI $6,779 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$359.5K
$314.6K – $419.4K
NOI $25,164 @ 7.0% cap · market cap 16.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Explore this area
Business Placement
Demographics for 13662, NY
15,814
Population
7,785
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
89%
High-School Grad
89.2 sq mi
ZIP Area
177
Density / Sq Mi
$56,987
Median Household Income
$38,535
Median Earnings
$712
Median Rent
$118,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with separate utilities for each unit, featuring one unit heated by natural gas and the other all-electric.
Where is this duplex located?
The property is located at 9 Winter Street Massena, NY.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: Each unit has its own utilities, with tenants paying their own heat and electricity; First unit: three bedrooms, full bath, laundry, formal dining room and living room; natural gas furnace and gas water heater; Second unit: two bedrooms, full bath, open‑concept kitchen and living area; all‑electric
