Deleaded Two-Family
For Sale
$399,000
Pending
33 Noble St, Westfield, MA 01085
Deleaded two-family with vacant first floor, two bedrooms per unit, and finished attic space for the second unit.
Property Size2,841 SF
Days on Market49
Property Features for 33 Noble St
General Information
Standard status
Pending
Size
2,841 SF
Total Parking Spaces
10
Property subtype
Multi Family Home
Zoning
res
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,625
Building Details
Building Size
2,841 SF
Year Built
1910
Stories
3
Units
2
Listing Agency:
Executive Real Estate, Inc.
(413) 364-2160
Listed By:
Nunley Group
(413) 364-2160
Source:
Janicemitchellre
Added: Jul 8
Changed: Aug 23
Last Checked: Jul 23 at 5:42AM
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 Executive Real Estate, Inc.
Investment Insights
Based on property information with market context.
This fully deleaded two-family property offers a functional layout for rental operations. The first floor is vacant, and both units include a kitchen, dining room, living room, and two bedrooms. The second-floor unit also benefits from a finished attic area with an additional half bath, providing extra interior space. Outside, the property includes a nice backyard and plenty of parking.
The location is described as close to Stanley Park, Westfield University, and Noble Hospital, supporting convenient access to area employers, education, and recreation.
With separate living areas within a straightforward two-unit configuration, the home is well suited for an owner seeking a rental property portfolio addition.
The location is described as close to Stanley Park, Westfield University, and Noble Hospital, supporting convenient access to area employers, education, and recreation.
With separate living areas within a straightforward two-unit configuration, the home is well suited for an owner seeking a rental property portfolio addition.
Key Highlights
- Deleaded two‑family built in 1910 with a vacant first floor unit
- Each unit includes a kitchen, dining room, living room, and 2 bedrooms
- Second‑floor unit includes finished attic space with a half bath
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
$34,485
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
8.64%
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%
$689,700
$689.7K
Cap Rate 7%
$492,643
$492.6K
Cap Rate 9%
$383,167
$383.2K
Market Conditions
NOI Build-Up for 2,841 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
$66.1K $23.28/SF
− Vacancy
−$3.4K −$1.21/SF
EGI
$62.7K $22.07/SF
− OpEx
−$28.2K −$9.93/SF
NOI
$34.5K $12.14/SF
Area
Hampden County, MA
Vacancy
5.20%
Lease Rate
$23.28 /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%
$689,700
Cap Rate 7%
$492,643
Cap Rate 9%
$383,167
Alternative Uses
Best Use
Multifamily LT 5
$531.6K
$465.1K – $620.2K
NOI $37,211 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$492.6K
$431.1K – $574.8K
NOI $34,485 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,568 @ 7.0% cap · market cap 30.72%
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
792
Businesses Nearby
Explore this area
Business Placement
Demographics for 01085, MA
41,529
Population
17,054
Households
2.4
Avg Household Size
41
Median Age
33%
College-Educated
92%
High-School Grad
59.7 sq mi
ZIP Area
696
Density / Sq Mi
$83,821
Median Household Income
$44,737
Median Earnings
$1,064
Median Rent
$296,300
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 - Deleaded two-family with vacant first floor, two bedrooms per unit, and finished attic space for the second unit.
Where is this duplex located?
The property is located at 33 Noble St Westfield, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Deleaded two‑family built in 1910 with a vacant first floor unit; Each unit includes a kitchen, dining room, living room, and 2 bedrooms; Second‑floor unit includes finished attic space with a half bath
