Four-Unit
New
For Sale
$164,900
101 and 103 N Main Street, Massena, NY 13662
MULTIFAMILY, Four family, Massena, NY
Property Size2,282 SF
Price / SF$72.26
Days on Market6
Property Features for 101 and 103 N Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Kitchen, Bathroom 4, Bedroom 4, Bathroom 1
Parking
8
Patio and Porch features
Porch
Exterior features
Outdoor lights, Porch
Lot features
Level lot
Directions
Located on North Main Street across from Haskell Street. Sign will be put up.
Subdivision
ST LAWRENCE
Standard status
Active
APN
9.050-10-20
Size
2,282 SF
Taxes and HOA fees
Tax Annual Amount
4750
Utilities
Utilities
Cable Available
Water source
Public
Building Details
Year built
1960
Floors in Building
2
Number of units
4
Flooring type
Laminate, Carpet, Wood floors, Vinyl
Building materials
Vinyl siding
Roof type
Shake
Architectural style
Other
Listing Agency:
Kassian Real Estate, LLC
(315) 769-0025
Listed By:
Lucille Kassian · License #40KA0346866
(315) 250-2383
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 19 at 12:06PM
MLS# 53409
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.
This four-unit apartment building contains 2,282 square feet and was constructed in 1960. Each apartment includes a bedroom, bathroom, kitchen, and access to the building’s residential layout. Interior finishes include laminate, carpet, wood, and vinyl flooring, while the exterior features vinyl siding, a shake roof, outdoor lighting, and a porch. Public water service and cable availability are also in place.
The property is located at 101 and 103 N Main Street in Massena, within walking distance of downtown. Ample parking supports the four occupied apartments, and tenants pay their own heat and electricity. Property updates include extensive electrical improvements and a new water line.
The property is located at 101 and 103 N Main Street in Massena, within walking distance of downtown. Ample parking supports the four occupied apartments, and tenants pay their own heat and electricity. Property updates include extensive electrical improvements and a new water line.
Key Highlights
- Four occupied apartments in a single 4‑unit building
- 2,282 square feet on two street addresses: 101 and 103 N Main Street
- Built in 1960 with extensive electrical improvements and a new water line
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
$11,660
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
7.07%
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%
$233,200
$233.2K
Cap Rate 7%
$166,571
$166.6K
Cap Rate 9%
$129,556
$129.6K
Market Conditions
NOI Build-Up for 2,282 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
$21.1K $9.24/SF
− Vacancy
−$4.4K −$1.94/SF
EGI
$16.7K $7.30/SF
− OpEx
−$5.0K −$2.19/SF
NOI
$11.7K $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%
$233,200
Cap Rate 7%
$166,571
Cap Rate 9%
$129,556
Alternative Uses
Best Use
Multifamily LT 5
$166.6K
$145.8K – $194.3K
NOI $11,660 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$152.5K
$133.5K – $178.0K
NOI $10,677 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$566.1K
$495.4K – $660.5K
NOI $39,630 @ 7.0% cap · market cap 24.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
296
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - All four apartments are occupied, with residents responsible for their own heat and electricity.
Where is this quadplex located?
The property is located at 101 and 103 N Main Street Massena, NY.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: Four occupied apartments in a single 4‑unit building; 2,282 square feet on two street addresses: 101 and 103 N Main Street; Built in 1960 with extensive electrical improvements and a new water line
