Updated Two-Unit
For Sale
$645,000
12 School Street, Northampton, MA 01060
Two residential units offer private utilities, laundry, parking, and separate living spaces in a well-maintained configuration.
Property Size2,674 SF
Price / SF$241.21
Days on Market307
Property Features for 12 School Street
General Information
Standard status
Active
Size
2,674 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
off-street parking
laundry room with washer/dryer
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Denny Nolan Real Estate
Listed By:
Denny R. Nolan
(508) 867-2800
Source:
Miketoomeyrealestate
Added: Oct 6, 2025
Changed: Aug 8
Last Checked: Aug 8 at 3:43PM
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 Denny Nolan Real Estate
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,674 square feet and was built in 1900. Each residence includes three bedrooms, a living room, kitchen, office or den, laundry room with washer and dryer, and a full bath. Kitchens are equipped with gas stoves and refrigerators. The property also provides attic and basement access, replacement windows, vinyl siding, insulated construction, gas furnaces, hot-water heaters, updated plumbing and wiring, and separate utilities. Both units are vacant following recent updating.
Located at 12 School Street in Northampton, Massachusetts, the property includes off-street parking and a level rear yard. City sewer lines serve the building, and it has a lead-free certificate. The duplex is presented as well maintained, with each side configured for independent residential occupancy.
Located at 12 School Street in Northampton, Massachusetts, the property includes off-street parking and a level rear yard. City sewer lines serve the building, and it has a lead-free certificate. The duplex is presented as well maintained, with each side configured for independent residential occupancy.
Key Highlights
- Two‑unit duplex with 2,674 SF, built in 1900
- Each side has 3 bedrooms, a living room, kitchen, office‑den, laundry room, and bath
- Separate utilities, gas furnaces, hot‑water heaters, and updated plumbing and wiring
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
$38,628
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
5.99%
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%
$772,560
$772.6K
Cap Rate 7%
$551,829
$551.8K
Cap Rate 9%
$429,200
$429.2K
Market Conditions
NOI Build-Up for 2,674 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
$57.8K $21.60/SF
− Vacancy
−$2.6K −$0.96/SF
EGI
$55.2K $20.64/SF
− OpEx
−$16.6K −$6.19/SF
NOI
$38.6K $14.45/SF
Area
Hampshire County, MA
Vacancy
4.46%
Lease Rate
$21.60 /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%
$772,560
Cap Rate 7%
$551,829
Cap Rate 9%
$429,200
Alternative Uses
Best Use
Multifamily LT 5
$551.8K
$482.9K – $643.8K
NOI $38,628 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$504.6K
$441.5K – $588.7K
NOI $35,320 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,989 @ 7.0% cap · market cap 17.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,365
Businesses Nearby
Explore this area
Business Placement
Demographics for 01060, MA
14,461
Population
7,875
Households
1.8
Avg Household Size
42
Median Age
69%
College-Educated
95%
High-School Grad
10.9 sq mi
ZIP Area
1,327
Density / Sq Mi
$75,077
Median Household Income
$49,151
Median Earnings
$1,460
Median Rent
$427,100
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 residential units offer private utilities, laundry, parking, and separate living spaces in a well-maintained configuration.
Where is this duplex located?
The property is located at 12 School Street Northampton, MA.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,674 SF, built in 1900; Each side has 3 bedrooms, a living room, kitchen, office‑den, laundry room, and bath; Separate utilities, gas furnaces, hot‑water heaters, and updated plumbing and wiring
