Updated Two-Unit
For Sale
$154,900
256 Prospect Ave, Massena, NY 13662
Two distinct apartments have separate laundry equipment and different bedroom configurations.
Property Size1,002 SF
Price / SF$154.59
Days on Market64
Property Features for 256 Prospect Ave
General Information
Standard status
Active
Size
1,002 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Amenities
in-unit washer/dryer
Building Details
Building Size
1,002 SF
Year Built
1925
Year Renovated
2025
Stories
2
Units
2
Listing Agency:
Trego Realty Group, LLC
(315) 705-5542
Listed By:
Elizabeth Trego · License #10491210659
(315) 842-0266
Source:
Davislakeandriverrealty
Added: Aug 28
Changed: Oct 30
Last Checked: Oct 29 at 7:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Trego Realty Group, LLC
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Investment Insights
Based on property information with market context.
This duplex at 256 Prospect Ave in Massena contains two apartments: an upper unit with two bedrooms and a lower one-bedroom unit. The upper apartment has updated flooring, paint, window coverings, French doors, and electric baseboard heaters. It also includes two entrances, an upper deck, a bathroom, and a stackable washer and dryer. A former enclosed porch now provides additional living space with a private entrance and French doors into the living room.
The lower apartment received renovations in 2025, including new linoleum flooring, electric baseboard heat, and its own stackable washer and dryer. The exterior has composite fire-resistant siding and many newer vinyl windows. The building was constructed in 1925.
The lower apartment received renovations in 2025, including new linoleum flooring, electric baseboard heat, and its own stackable washer and dryer. The exterior has composite fire-resistant siding and many newer vinyl windows. The building was constructed in 1925.
Key Highlights
- Two apartments: an upper two‑bedroom unit and a lower one‑bedroom unit
- Lower apartment renovated in 2025 with new linoleum flooring and electric baseboard heat
- Stackable washer and dryer in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,120
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$102,400
$102.4K
Cap Rate 7%
$73,143
$73.1K
Cap Rate 9%
$56,889
$56.9K
Market Conditions
NOI Build-Up for 1,002 SF
Gross rent
$9.3K $9.24/SF
− Vacancy
−$1.9K −$1.94/SF
EGI
$7.3K $7.30/SF
− OpEx
−$2.2K −$2.19/SF
NOI
$5.1K $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 Rate 5%
$102,400
Cap Rate 7%
$73,143
Cap Rate 9%
$56,889
Alternative Uses
Best Use
Multifamily LT 5
$73.1K
$64.0K – $85.3K
NOI $5,120 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$67.0K
$58.6K – $78.1K
NOI $4,688 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$248.6K
$217.5K – $290.0K
NOI $17,401 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct apartments have separate laundry equipment and different bedroom configurations.
Where is this duplex located?
The property is located at 256 Prospect Ave Massena, NY.
What is the asking price?
The asking price for this property is $154,900.
What are key features of this property?
This property features: Two apartments: an upper two‑bedroom unit and a lower one‑bedroom unit; Lower apartment renovated in 2025 with new linoleum flooring and electric baseboard heat; Stackable washer and dryer in each apartment
