Two-Family Residential Income
For Sale
$350,000
137 Housatonic St, Lenox, MA 01240
MultiFamily, Lenox, MA
Property Size1,708 SF
Lot Size0.29 Acres
Price / SF$204.92
Days on Market92
Property Features for 137 Housatonic St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi, Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Basement, Bathroom 2, Bedroom 2
Parking features
Off Street
Basement
Dirt Floor
Appliances
Washer, Refrigerator, Dryer, Dishwasher
Elementary school
Morris
Middle school
Lenox Memorial
High school
Lenox Memorial
Directions
North on Rt7 left on Housatonic St.
Subdivision
Middle Registry
Standard status
Active
Size
1,708 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3410
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1890
Number of units
2
Flooring type
Linoleum, Wood, Carpet
Building materials
Wood Frame, Aluminum
Roof type
Asphalt
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES BARNBROOK REALTY
(413) 528-4423
Listed By:
Maureen White-Kirkby · License #131083
(413) 446-5634
Added: May 22
Changed: Aug 19
Last Checked: Aug 21 at 12:06PM
MLS# 249641
Copyright © 2026 Berkshire County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family residential income property offers two separate units with distinct layouts. The first-floor unit includes two bedrooms along with a spacious living area and kitchen. The upstairs unit provides one bedroom and one bathroom, and includes a fireplace and a back deck. The home is being sold as-is, and the listing notes that there is no negotiation on inspection issues.
The property is located in Lenox, with the remarks stating it is minutes from downtown. Utilities include natural gas, and the home is served by town water and town sewer.
For buyers seeking a straightforward two-unit setup, the configuration supports different tenant profiles with a larger first-floor plan and a smaller upstairs unit with additional living features like a fireplace and deck. The roof replacement in 2021 is a concrete improvement that may help with near-term maintenance planning, while the as-is sale terms should be considered as part of any due diligence.
The property is located in Lenox, with the remarks stating it is minutes from downtown. Utilities include natural gas, and the home is served by town water and town sewer.
For buyers seeking a straightforward two-unit setup, the configuration supports different tenant profiles with a larger first-floor plan and a smaller upstairs unit with additional living features like a fireplace and deck. The roof replacement in 2021 is a concrete improvement that may help with near-term maintenance planning, while the as-is sale terms should be considered as part of any due diligence.
Key Highlights
- Two‑family home minutes from downtown Lenox
- First‑floor unit: 2 bedrooms with a spacious living area and kitchen
- Upstairs unit: 1 bedroom, 1 bath with a fireplace and back deck
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
$25,481
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
7.28%
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%
$509,620
$509.6K
Cap Rate 7%
$364,014
$364.0K
Cap Rate 9%
$283,122
$283.1K
Market Conditions
NOI Build-Up for 1,708 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
$36.9K $21.60/SF
− Vacancy
−$491 −$0.29/SF
EGI
$36.4K $21.31/SF
− OpEx
−$10.9K −$6.39/SF
NOI
$25.5K $14.92/SF
Area
Berkshire County, MA
Vacancy
1.33%
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%
$509,620
Cap Rate 7%
$364,014
Cap Rate 9%
$283,122
Alternative Uses
Best Use
Multifamily LT 5
$364.0K
$318.5K – $424.7K
NOI $25,481 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$333.4K
$291.8K – $389.0K
NOI $23,341 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$500.1K
$437.6K – $583.5K
NOI $35,007 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 01240, MA
4,692
Population
3,029
Households
1.5
Avg Household Size
57
Median Age
52%
College-Educated
95%
High-School Grad
23.9 sq mi
ZIP Area
196
Density / Sq Mi
$99,745
Median Household Income
$43,284
Median Earnings
$1,060
Median Rent
$480,800
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-unit residential property featuring updated roof, natural gas, and town water and sewer service.
Where is this duplex located?
The property is located at 137 Housatonic St Lenox, MA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑family home minutes from downtown Lenox; First‑floor unit: 2 bedrooms with a spacious living area and kitchen; Upstairs unit: 1 bedroom, 1 bath with a fireplace and back deck
