Two-Family Residential Income
For Sale
$249,900
13 Goodrich Street, Pittsfield, MA 01201
Two-family building featuring brand-new on-demand gas baseboard heat on the first floor.
Property Size1,560 SF
Price / SF$160.19
Days on Market739
Property Features for 13 Goodrich Street
General Information
Standard status
Active
Size
1,560 SF
Property subtype
MultiFamily
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,452
Amenities
Oil, Nat Gas, Boiler, Yes
Yes
2
2.00
8.00
Range, Refrigerator
White
Porch, Trash Public
Building Details
Year Built
1940
Listing Agency:
413 REAL ESTATE
Listed By:
Scott Higuera · License #9034743
(413) 822-7714
Source:
Compass
Added: Aug 27, 2024
Changed: Aug 8
Last Checked: Jul 21 at 6:57AM
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 413 REAL ESTATE
Investment Insights
Based on property information with market context.
This two-family residential income property offers two separate units within a single building. Public remarks note brand-new gas on-demand heating with baseboard units on the first floor.
The property is located at 13 Goodrich Street in Pittsfield, Massachusetts.
With a two-family configuration and updated first-floor heating equipment, the building may be well-suited for buyers looking for a straightforward residential income asset.
The property is located at 13 Goodrich Street in Pittsfield, Massachusetts.
With a two-family configuration and updated first-floor heating equipment, the building may be well-suited for buyers looking for a straightforward residential income asset.
Key Highlights
- Two‑family building built in 1940
- Brand‑new on‑demand gas baseboard heat on the first floor
- Heating includes oil and natural gas with a boiler and hot water (oil and natural gas)
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
$21,319
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
8.53%
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%
$426,380
$426.4K
Cap Rate 7%
$304,557
$304.6K
Cap Rate 9%
$236,878
$236.9K
Market Conditions
NOI Build-Up for 1,560 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
$39.3K $25.20/SF
− Vacancy
−$550 −$0.35/SF
EGI
$38.8K $24.85/SF
− OpEx
−$17.4K −$11.18/SF
NOI
$21.3K $13.67/SF
Area
Berkshire County, MA
Vacancy
1.40%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$426,380
Cap Rate 7%
$304,557
Cap Rate 9%
$236,878
Alternative Uses
Best Use
Multifamily LT 5
$332.5K
$290.9K – $387.9K
NOI $23,273 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$304.6K
$266.5K – $355.3K
NOI $21,319 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$456.8K
$399.7K – $532.9K
NOI $31,974 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,103
Businesses Nearby
Explore this area
Business Placement
Demographics for 01201, MA
45,494
Population
22,566
Households
2
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
60.4 sq mi
ZIP Area
753
Density / Sq Mi
$68,879
Median Household Income
$43,054
Median Earnings
$1,098
Median Rent
$236,500
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?
Duplex - Two-family building featuring brand-new on-demand gas baseboard heat on the first floor.
Where is this duplex located?
The property is located at 13 Goodrich Street Pittsfield, MA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑family building built in 1940; Brand‑new on‑demand gas baseboard heat on the first floor; Heating includes oil and natural gas with a boiler and hot water (oil and natural gas)
