Duplex With Separate
For Sale
$149,000
9 Winter Street, Massena, NY 13662
MULTIFAMILY, Two family, Massena, NY
Property Size1,449 SF
Price / SF$102.83
Days on Market55
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 5, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 2
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
Carpet, Wood floors, Laminate, 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: Sep 14
Last Checked: Sep 14 at 11:06PM
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.
This 1,449-square-foot duplex, built in 1940, contains two separate residential units. The larger unit includes three bedrooms, one full bathroom, laundry, a kitchen with appliances, a formal dining room, and a living room. The second unit offers two bedrooms, one full bathroom, and an open-concept kitchen and living area.
Each unit has its own utilities, with tenants paying their own heat and electricity. Heating is provided by a natural gas furnace and gas water heater in the first unit, while the second unit is all electric. Property improvements include a metal roof, newer paved driveway, vinyl siding, wood, vinyl, carpet, and laminate flooring, plus outdoor lights. Public water and cable availability are also noted. The property is located at 9 Winter Street in Massena, New York.
Each unit has its own utilities, with tenants paying their own heat and electricity. Heating is provided by a natural gas furnace and gas water heater in the first unit, while the second unit is all electric. Property improvements include a metal roof, newer paved driveway, vinyl siding, wood, vinyl, carpet, and laminate flooring, plus outdoor lights. Public water and cable availability are also noted. The property is located at 9 Winter Street in Massena, New York.
Key Highlights
- 1,449‑square‑foot duplex built in 1940
- Two residential units with 3‑bedroom and 2‑bedroom layouts
- Separate utility service for each unit; tenants pay heat and electricity
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
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Current Use
Lease Details
2
Residential units
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
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 - Two-unit residential property with independent utility service, a metal roof, and a paved driveway.
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: 1,449‑square‑foot duplex built in 1940; Two residential units with 3‑bedroom and 2‑bedroom layouts; Separate utility service for each unit; tenants pay heat and electricity
