Duplex with Fenced Yard and
For Sale
$315,000
120-R North Street, Ware, MA 01082
Duplex with one occupied oil-heated unit and a vacant electric-heated 3-bedroom unit, plus fenced yard and two-car garage.
Property Size1,980 SF
Price / SF$159.09
Days on Market55
Property Features for 120-R North Street
General Information
Standard status
Active
Size
1,980 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Year Built
1890
Listing Agency:
REMAX Connections - Easthampton
(413) 341-8080
Listed By:
Scott Fontaine · License #452513705
(413) 310-0715
Source:
Lockandkeyre
Added: Jul 24
Changed: Sep 15
Last Checked: Sep 15 at 5:29AM
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 includes two units with separate heating systems. The first unit has oil heat and offers 4 bedrooms. The second unit is vacant and has electric heat, offering 3 bedrooms.
The property features a small fenced yard and a two-car garage. It is set back from the street down a private driveway with little to no traffic.
Both units are configured as residential income units within the duplex structure, providing a two-tenant setup on the same site.
The property features a small fenced yard and a two-car garage. It is set back from the street down a private driveway with little to no traffic.
Both units are configured as residential income units within the duplex structure, providing a two-tenant setup on the same site.
Key Highlights
- Duplex built in 1890 with one occupied unit and one vacant unit
- Occupied unit: oil heat with 4 bedrooms
- Vacant unit: electric heat with 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
Lease Details
2
Residential units
Yes
Fenced yard
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with one occupied oil-heated unit and a vacant electric-heated 3-bedroom unit, plus fenced yard and two-car garage.
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 one occupied unit and one vacant unit; Occupied unit: oil heat with 4 bedrooms; Vacant unit: electric heat with 3 bedrooms
