Two-Unit Residential
For Sale
$315,000
120-r North Street, Ware, MA 01082
Duplex features two separate units with a small fenced yard and two-car garage under oil and electric heating systems.
Property Size1,980 SF
Price / SF$159.09
Days on Market62
Property Features for 120-r North Street
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Multi-family
Building Details
Year Built
1890
Listing Agency:
REMAX Connections - Easthampton
Listed By:
Scott Fontaine
(413) 584-5700
Source:
Murphyrealtors
Added: Jul 17
Changed: Sep 15
Last Checked: Sep 15 at 8:49AM
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 REMAX Connections - Easthampton
Investment Insights
Based on property information with market context.
This duplex offers two separate units. The first unit has oil heat and provides four bedrooms. The second unit is currently vacant and has electric heat, with three bedrooms. The property also includes a small fenced yard and a two-car garage.
The duplex is tucked down a private driveway with little to no traffic.
Overall, it presents a straightforward two-unit residential income setup with a shared site plan that includes outdoor space and enclosed parking.
The duplex is tucked down a private driveway with little to no traffic.
Overall, it presents a straightforward two-unit residential income setup with a shared site plan that includes outdoor space and enclosed parking.
Key Highlights
- Duplex built in 1890 with two separate units
- First unit: oil heat, 4 bedrooms
- Second unit (vacant): electric heat, 3 bedrooms
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
$28,602
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
9.08%
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%
$572,040
$572.0K
Cap Rate 7%
$408,600
$408.6K
Cap Rate 9%
$317,800
$317.8K
Market Conditions
NOI Build-Up for 1,980 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
$42.8K $21.60/SF
− Vacancy
−$1.9K −$0.96/SF
EGI
$40.9K $20.64/SF
− OpEx
−$12.3K −$6.19/SF
NOI
$28.6K $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%
$572,040
Cap Rate 7%
$408,600
Cap Rate 9%
$317,800
Alternative Uses
Best Use
Multifamily LT 5
$408.6K
$357.5K – $476.7K
NOI $28,602 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$373.6K
$326.9K – $435.9K
NOI $26,153 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,405 @ 7.0% cap · market cap 26.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 01082, MA
10,565
Population
5,021
Households
2.1
Avg Household Size
44
Median Age
26%
College-Educated
92%
High-School Grad
47.0 sq mi
ZIP Area
225
Density / Sq Mi
$71,023
Median Household Income
$49,991
Median Earnings
$1,049
Median Rent
$271,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex features two separate units with a small fenced yard and two-car garage under oil and electric heating systems.
Where is this duplex located?
The property is located at 120-r North Street Ware, MA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Duplex built in 1890 with two separate units; First unit: oil heat, 4 bedrooms; Second unit (vacant): electric heat, 3 bedrooms
