Northampton Multifamily Investment
For Sale
$1,425,000
13 Munroe Street, Northampton, MA 01060
Turnkey Northampton rental property near downtown and Smith College.
Property Size4,500 SF
Price / SF$316.67
Days on Market166
Property Features for 13 Munroe Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
Delap Real Estate LLC
Listed By:
Joseph Bialek · License #9573270
(413) 404-8191
Source:
Delaprealestate
Added: Mar 24
Changed: Sep 4
Last Checked: Sep 5 at 9:16AM
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 Delap Real Estate LLC
Investment Insights
Based on property information with market context.
This multifamily property, situated in the heart of Northampton, presents an investment opportunity. The property features 5 updated units, updated electrical systems, and replacement windows. On-site amenities include coin-operated laundry facilities, paved off-street parking, and dedicated storage spaces. The heating system has been updated, and the property includes a backyard with garden space. Each unit has separate utilities. The property is located within walking distance of downtown and Smith College. There is potential for additional income by leasing the two-car garage. The property spans 4,500 square feet.
Key Highlights
- Turnkey, high‑performing rental property in the heart of Northampton.
- Five updated units with separate utilities.
- Updated electrical, replacement windows, and updated heating system.
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
$59,439
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
4.17%
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%
$1,188,780
$1.2M
Cap Rate 7%
$849,129
$849.1K
Cap Rate 9%
$660,433
$660.4K
Market Conditions
NOI Build-Up for 4,500 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
$113.4K $25.20/SF
− Vacancy
−$5.3K −$1.18/SF
EGI
$108.1K $24.02/SF
− OpEx
−$48.6K −$10.81/SF
NOI
$59.4K $13.21/SF
Area
Hampshire County, MA
Vacancy
4.70%
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%
$1,188,780
Cap Rate 7%
$849,129
Cap Rate 9%
$660,433
Alternative Uses
Best Use
Apartment 5plus
$849.1K
$743.0K – $990.7K
NOI $59,439 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $191,830 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,024
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?
Apartment building - Turnkey Northampton rental property near downtown and Smith College.
Where is this apartment building located?
The property is located at 13 Munroe Street Northampton, MA.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Turnkey, high‑performing rental property in the heart of Northampton.; Five updated units with separate utilities.; Updated electrical, replacement windows, and updated heating system.
