2-Unit Duplex with Separate
For Sale
$85,000
389 S Main St., Massena, NY 13662
MULTIFAMILY, 2 Story, Massena, NY
Property Size1,248 SF
Price / SF$68.11
Days on Market1301
Property Features for 389 S Main St.
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1
Parking features
Driveway
Patio and Porch features
Porch
Interior features
Built-in features, Walk-in closet(s)
Exterior features
Porch
Directions
One S Main St., house will be visible with sign.
Subdivision
ST LAWRENCE
Standard status
Active
APN
9.083-4-12
Size
1,248 SF
Taxes and HOA fees
Tax Annual Amount
2583
Utilities
Utilities
Cable Available
Water source
Public
Amenities
laundry
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl, Laminate
Building materials
Vinyl siding
Roof type
Metal
Architectural style
Other
Listing Agency:
Dufrane Real Estate, LLC
(315) 769-2446
Listed By:
Carmen Kenney · License #10401334224
(315) 842-2044
Added: Mar 6, 2023
Changed: Sep 24
Last Checked: Sep 27 at 6:06AM
MLS# 47440
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 1,248-square-foot duplex contains two one-bedroom, one-bathroom apartments, one on each floor. Both units have in-apartment laundry, and the property includes a porch, vinyl siding, and a metal roof. Interior finishes include carpet, vinyl, and laminate flooring, with built-in features and a walk-in closet also present.
Separate driveways serve the apartments: one is gravel and the other concrete. Electrical service was upgraded in May 2025; the downstairs unit has a 200-amp panel, while the upstairs unit has a 100-amp panel. The home was built in 1920 and has public water, with cable service available.
Separate driveways serve the apartments: one is gravel and the other concrete. Electrical service was upgraded in May 2025; the downstairs unit has a 200-amp panel, while the upstairs unit has a 100-amp panel. The home was built in 1920 and has public water, with cable service available.
Key Highlights
- Two apartments, each with 1 bedroom and 1 bathroom
- 1,248 square feet across a two‑story duplex
- Laundry in both apartments
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
$6,377
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
7.50%
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%
$127,540
$127.5K
Cap Rate 7%
$91,100
$91.1K
Cap Rate 9%
$70,856
$70.9K
Market Conditions
NOI Build-Up for 1,248 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
$11.5K $9.24/SF
− Vacancy
−$2.4K −$1.94/SF
EGI
$9.1K $7.30/SF
− OpEx
−$2.7K −$2.19/SF
NOI
$6.4K $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%
$127,540
Cap Rate 7%
$91,100
Cap Rate 9%
$70,856
Alternative Uses
Best Use
Multifamily LT 5
$91.1K
$79.7K – $106.3K
NOI $6,377 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$83.4K
$73.0K – $97.3K
NOI $5,839 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$309.6K
$270.9K – $361.2K
NOI $21,673 @ 7.0% cap · market cap 25.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
248
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?
Duplex - Each apartment has its own laundry, with distinct gravel and concrete parking areas.
Where is this duplex located?
The property is located at 389 S Main St. Massena, NY.
What is the asking price?
The asking price for this property is $85,000.
What are key features of this property?
This property features: Two apartments, each with 1 bedroom and 1 bathroom; 1,248 square feet across a two‑story duplex; Laundry in both apartments
