Building Details

Year Built 1730

Listing Agency: Four Columns Realty, LLC j***@lockandkeyma.com Show Phone

Listed By: Liza M. Melo Show Phone

Source: Lockandkeyre

Added: Jun 3 Changed: Aug 8 Last Checked: Aug 9 at 5:35AM

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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 Four Columns Realty, LLC

Investment Insights

Based on property information with market context.

This well-maintained three-unit residential income property is a 1730 Colonial-style home configured with three spacious units. Each unit includes a full bath, separate utilities, and washer/dryer hookups. One unit is currently vacant. The property also features a 3-car garage with studio space above, along with outdoor space and 3-season porches on both levels serving two of the units.

The home is located close to historic New Salem center, approximately 1.5 miles to a Quabbin gate, about 10 minutes to Route 2, and roughly 20 minutes to Amherst.

Recent updates include a roof installed in 2013, Mass Save re-insulation completed in early 2023, and freshly painted exterior siding.

Key Highlights

• 3‑family Colonial built in 1730 with three units, each with a full bath and separate utilities
• Separate washer/dryer hookups for each unit; one unit is currently vacant
• 3‑car garage with studio space above

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

$59,750

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

9.05%

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%

$1,195,000 $1.2M

Cap Rate 7%

$853,571 $853.6K

Cap Rate 9%

$663,889 $663.9K

Market Conditions

NOI Build-Up for 4,500 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

$113.4K $25.20/SF

− Vacancy

−$4.8K −$1.06/SF

EGI

$108.6K $24.14/SF

− OpEx

−$48.9K −$10.86/SF

NOI

$59.8K $13.28/SF

Area

Franklin County, MA

Vacancy

4.20%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

45.00%

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%

$1,195,000

Cap Rate 7%

$853,571

Cap Rate 9%

$663,889

Alternative Uses

Best Use

Multifamily LT 5

$944.1K

$826.1K – $1.10M (±1% cap)

NOI $66,084 @ 7.0% cap · market cap 10.01%

Second Best

Apartment 5plus

$853.6K

$746.9K – $995.8K (±1% cap)

NOI $59,750 @ 7.0% cap · market cap 9.05%

Theoretical Best

Healthcare Medical

$1.87M

$1.63M – $2.18M (±1% cap)

NOI $130,621 @ 7.0% cap · market cap 19.79%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Plumbing Service Kitchen & Bath Showroom Gym & Fitness Center Wine and Liquor Store Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

40

Businesses Nearby

Explore this area Business Placement

Demographics for 01355, MA

879

Population

460

Households

1.9

Avg Household Size

53

Median Age

37%

College-Educated

98%

High-School Grad

47.5 sq mi

ZIP Area

19

Density / Sq Mi

$80,327

Median Household Income

$41,020

Median Earnings

$1,180

Median Rent

$357,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Three residential units each with a full bath and separate utilities, plus a 3-car garage with studio space above.

Where is this triplex located?

The property is located at 1 South Main St New Salem, MA.

What is the asking price?

The asking price for this property is $659,900.

What are key features of this property?

This property features: 3‑family Colonial built in 1730 with three units, each with a full bath and separate utilities; Separate washer/dryer hookups for each unit; one unit is currently vacant; 3‑car garage with studio space above