North Brookfield Multifamily Investment
For Sale
$525,000
Pending
10 Rufus Putnam Rd, North Brookfield, MA 01535
Four-unit multifamily property on over 3 acres in North Brookfield.
Property Size3,000 SF
Lot Size3.28 Acres
Days on Market277
Property Features for 10 Rufus Putnam Rd
General Information
Standard status
Pending
Size
3,000 SF
Lot size
3.28 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$3,183
Building Details
Building Size
3,000 SF
Year Built
1850
Stories
5
Units
4
Listing Agency:
(508) 615-7811
Listed By:
Daniel A. Palacios
(508) 615-7811
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 30 at 3:29PM
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 Daniel A. Palacios
Investment Insights
Based on property information with market context.
This four-family home in North Brookfield is situated on over 3 acres of land. Each unit is generously sized and includes appliances. The first-floor unit features a large kitchen and living room, along with a walk-in closet in the master bedroom and two additional bedrooms. The second-floor right unit offers an oversized kitchen, a large living room area, and two bedrooms. The third unit is split into two levels and benefits from new skylights that provide ample sunlight. The basement studio, designated as Unit 1, has been recently renovated. The property is located off Routes 67 and 148 in a peaceful, country setting and includes a large two-car garage for additional storage. The building is fully rented and offers a cap rate of over 9% for investors.
Key Highlights
- 9%+ Cap Rate - great for investors!
- Fully rented building
- 4‑family home on over 3 acres
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
$40,553
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
7.72%
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%
$811,060
$811.1K
Cap Rate 7%
$579,329
$579.3K
Cap Rate 9%
$450,589
$450.6K
Market Conditions
NOI Build-Up for 3,000 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
$59.4K $19.80/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$57.9K $19.31/SF
− OpEx
−$17.4K −$5.79/SF
NOI
$40.6K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
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%
$811,060
Cap Rate 7%
$579,329
Cap Rate 9%
$450,589
Alternative Uses
Best Use
Multifamily LT 5
$579.3K
$506.9K – $675.9K
NOI $40,553 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$504.2K
$441.2K – $588.2K
NOI $35,292 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$1.02M
$896.4K – $1.20M
NOI $71,712 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 01535, MA
4,735
Population
2,163
Households
2.2
Avg Household Size
44
Median Age
26%
College-Educated
95%
High-School Grad
21.3 sq mi
ZIP Area
222
Density / Sq Mi
$81,010
Median Household Income
$55,393
Median Earnings
$973
Median Rent
$316,500
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?
Quadplex - Four-unit multifamily property on over 3 acres in North Brookfield.
Where is this quadplex located?
The property is located at 10 Rufus Putnam Rd North Brookfield, MA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 9%+ Cap Rate - great for investors!; Fully rented building; 4‑family home on over 3 acres
