11-Unit Multifamily
For Sale
$2,495,000
15-24 Paquette Ave & 142-144 Main St, Northampton, MA 01060
The portfolio combines duplex and small multifamily buildings with updated interiors and separately metered utilities.
Property Size9,855 SF
Price / SF$253.17
Days on Market91
Property Features for 15-24 Paquette Ave & 142-144 Main St
General Information
Standard status
Active
Size
9,855 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
11
Amenities
washer & dryer in each unit
Building Details
Year Built
1900
Buildings
5
Listing Agency:
Delap Real Estate LLC
(413) 404-8191
Listed By:
Joseph Bialek
(413) 404-8191
Source:
Lockandkeyre
Added: Jun 1
Changed: Aug 29
Last Checked: Jun 5 at 7:12AM
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 11-unit multifamily property in Northampton, Massachusetts includes four duplex buildings and a separate three-unit multifamily building, totaling 9,855 square feet. Constructed in 1900, the property offers a mix of renovated and updated units with hardwood flooring, stainless steel appliances, in-unit washers and dryers, granite countertops, and newer cabinetry in the renovated residences. Utilities are separately metered, while on-site parking and storage support day-to-day operations.
The property is situated on a private road off Rt. 66, near Smith College facilities and within walking distance of downtown. Improvements to select units include updated plumbing, heating, and electrical systems. The 11 units may also be converted to condominiums by right, providing an additional ownership structure supported by the existing configuration.
The property is situated on a private road off Rt. 66, near Smith College facilities and within walking distance of downtown. Improvements to select units include updated plumbing, heating, and electrical systems. The 11 units may also be converted to condominiums by right, providing an additional ownership structure supported by the existing configuration.
Key Highlights
- 11‑unit multifamily property totaling 9,855 square feet
- Four duplexes plus one three‑unit multifamily building
- Most units feature renovations and updated interiors
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
$142,362
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
5.71%
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%
$2,847,240
$2.8M
Cap Rate 7%
$2,033,743
$2.0M
Cap Rate 9%
$1,581,800
$1.6M
Market Conditions
NOI Build-Up for 9,855 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
$212.9K $21.60/SF
− Vacancy
−$9.5K −$0.96/SF
EGI
$203.4K $20.64/SF
− OpEx
−$61.0K −$6.19/SF
NOI
$142.4K $14.45/SF
Area
Hampshire County, MA
Vacancy
4.46%
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%
$2,847,240
Cap Rate 7%
$2,033,743
Cap Rate 9%
$1,581,800
Alternative Uses
Best Use
Multifamily LT 5
$2.03M
$1.78M – $2.37M
NOI $142,362 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$1.86M
$1.63M – $2.17M
NOI $130,171 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$6.00M
$5.25M – $7.00M
NOI $420,107 @ 7.0% cap · market cap 16.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
11
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
161
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?
Multifamily property - The portfolio combines duplex and small multifamily buildings with updated interiors and separately metered utilities.
Where is this multifamily property located?
The property is located at 15-24 Paquette Ave & 142-144 Main St Northampton, MA.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 11‑unit multifamily property totaling 9,855 square feet; Four duplexes plus one three‑unit multifamily building; Most units feature renovations and updated interiors
