Renovated Luxury Duplex with
For Sale
$865,000
145-147 Pleasant St, North Adams, MA 01247
Renovated duplex with two side-by-side residences, private entrances, and a finished lower-level studio apartment.
Property Size3,165 SF
Price / SF$273.30
Days on Market101
Property Features for 145-147 Pleasant St
General Information
Standard status
Active
Size
3,165 SF
Property subtype
Multifamily
Amenities
private entrances
state-of-the-art kitchens and baths
new laundry facilities
modern heating and air-conditioning systems
two patios
beautifully landscaped gardens
Building Details
Year Built
1870
Tenancy
Multi
Listing Agency:
ALTON & WESTALL REAL ESTATE AGENCY, LLC
(413) 458-8366
Listed By:
Ann Greenwood · License #9076466
(413) 441-9631
Source:
Lockandkeyre
Added: Jun 8
Changed: Sep 15
Last Checked: Sep 15 at 7:09AM
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 ALTON & WESTALL REAL ESTATE AGENCY, LLC
Investment Insights
Based on property information with market context.
Renovated luxury duplex featuring two side-by-side residences with private entrances. The larger unit includes 4 bedrooms and 1.5 baths, while the second unit offers 2 bedrooms and 1.5 baths. Both residences include updated kitchens and baths, new laundry facilities, and modern heating and air-conditioning systems.
A finished lower level adds an open-plan studio with a luxurious bath and a gourmet kitchen, well suited as a guest suite. Outdoor space is highlighted by two patios and landscaped gardens designed to complement the home.
Built in 1870 and thoughtfully renovated down to the studs, the property provides a flexible multi-living layout within minutes of downtown shops, restaurants, and MASS MoCA.
A finished lower level adds an open-plan studio with a luxurious bath and a gourmet kitchen, well suited as a guest suite. Outdoor space is highlighted by two patios and landscaped gardens designed to complement the home.
Built in 1870 and thoughtfully renovated down to the studs, the property provides a flexible multi-living layout within minutes of downtown shops, restaurants, and MASS MoCA.
Key Highlights
- Renovated duplex with two side‑by‑side residences and private entrances
- Larger unit: 4 bedrooms and 1.5 baths
- Second unit: 2 bedrooms and 1.5 baths
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
$47,218
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
5.46%
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%
$944,360
$944.4K
Cap Rate 7%
$674,543
$674.5K
Cap Rate 9%
$524,644
$524.6K
Market Conditions
NOI Build-Up for 3,165 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
$68.4K $21.60/SF
− Vacancy
−$909 −$0.29/SF
EGI
$67.5K $21.31/SF
− OpEx
−$20.2K −$6.39/SF
NOI
$47.2K $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%
$944,360
Cap Rate 7%
$674,543
Cap Rate 9%
$524,644
Alternative Uses
Best Use
Multifamily LT 5
$674.5K
$590.2K – $787.0K
NOI $47,218 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$617.9K
$540.7K – $720.9K
NOI $43,253 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$926.7K
$810.9K – $1.08M
NOI $64,870 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
Explore this area
Business Placement
Demographics for 01247, MA
15,147
Population
7,859
Households
1.9
Avg Household Size
44
Median Age
27%
College-Educated
90%
High-School Grad
45.9 sq mi
ZIP Area
330
Density / Sq Mi
$55,544
Median Household Income
$38,145
Median Earnings
$786
Median Rent
$190,600
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 - Renovated duplex with two side-by-side residences, private entrances, and a finished lower-level studio apartment.
Where is this duplex located?
The property is located at 145-147 Pleasant St North Adams, MA.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Renovated duplex with two side‑by‑side residences and private entrances; Larger unit: 4 bedrooms and 1.5 baths; Second unit: 2 bedrooms and 1.5 baths
