Updated Duplex with Two-Car
For Sale
$369,900
1009 Maple Street, Palmer, MA 01069
Two-unit property with flexible living space, accessible features, parking, storage, and recent improvements throughout.
Property Size2,400 SF
Price / SF$154.13
Days on Market11
Property Features for 1009 Maple Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
finished basement rec room
walk-up attic
shed
yard
handicap-accessible bathroom
handicap ramp
deck
Building Details
Building Size
2,400 SF
Year Built
1876
Buildings
1
Listing Agency:
Coldwell Banker Realty - Western MA
(413) 330-9458
Listed By:
Linda Wortman · License #452503986
(413) 330-9458
Source:
Iverty
Added: Aug 14
Changed: Aug 24
Last Checked: Aug 23 at 7:25AM
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 Coldwell Banker Realty - Western MA
Investment Insights
Based on property information with market context.
This two-unit residential income property, built in 1876, combines substantial living areas with multiple functional improvements. The first-floor residence includes a living room, dining room, kitchen, bedroom, full bath, finished basement recreation room, and a newer primary suite with a handicap-accessible bathroom and roll-in shower. A composite ramp and deck connect the kitchen to the backyard and rear parking. The second-floor unit provides three bedrooms, a living room, kitchen, and family room.
Property improvements include newer windows, updated electrical panels, and a driveway completed in 2024. Additional amenities include a two-car garage, walk-up attic, shed, extensive storage, and a yard. The property is located minutes from schools, parks, downtown, and the Mass Pike. Walk Score is 37 and Bike Score is 26.
Property improvements include newer windows, updated electrical panels, and a driveway completed in 2024. Additional amenities include a two-car garage, walk-up attic, shed, extensive storage, and a yard. The property is located minutes from schools, parks, downtown, and the Mass Pike. Walk Score is 37 and Bike Score is 26.
Key Highlights
- Two‑unit property built in 1876
- First‑floor unit includes a finished basement recreation room and newer primary suite
- Primary suite bathroom has a roll‑in shower and handicap‑accessible design
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
$31,434
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
8.50%
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%
$628,680
$628.7K
Cap Rate 7%
$449,057
$449.1K
Cap Rate 9%
$349,267
$349.3K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$44.9K $18.71/SF
− OpEx
−$13.5K −$5.61/SF
NOI
$31.4K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$628,680
Cap Rate 7%
$449,057
Cap Rate 9%
$349,267
Alternative Uses
Best Use
Multifamily LT 5
$449.1K
$392.9K – $523.9K
NOI $31,434 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$416.2K
$364.2K – $485.5K
NOI $29,132 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$1.48M
$1.29M – $1.73M
NOI $103,542 @ 7.0% cap · market cap 27.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 01069, MA
8,428
Population
4,192
Households
2
Avg Household Size
47
Median Age
25%
College-Educated
86%
High-School Grad
28.1 sq mi
ZIP Area
300
Density / Sq Mi
$79,725
Median Household Income
$50,341
Median Earnings
$929
Median Rent
$251,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with flexible living space, accessible features, parking, storage, and recent improvements throughout.
Where is this duplex located?
The property is located at 1009 Maple Street Palmer, MA.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Two‑unit property built in 1876; First‑floor unit includes a finished basement recreation room and newer primary suite; Primary suite bathroom has a roll‑in shower and handicap‑accessible design
