Duplex With Detached
New
For Sale
$324,900
1686-1688 N Main St, Palmer, MA 01069
Fully leased residential income property with updated windows, substantial outdoor space, and a private yard.
Property Size2,310 SF
Price / SF$140.65
Days on Market3
Property Features for 1686-1688 N Main St
General Information
Standard status
Active
Size
2,310 SF
Total Parking Spaces
7
Property subtype
Multi Family Home
Zoning
TR
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,980
Amenities
covered front porches
wrap-around deck
private yard
Building Details
Building Size
2,310 SF
Year Built
1900
Buildings
2
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
REMAX Connections - Belchertown
(413) 345-6650
Listed By:
The Jackson & Nale Team
(413) 345-6650
Source:
Alliancepartnersre
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 6:20AM
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 REMAX Connections - Belchertown
Investment Insights
Based on property information with market context.
This 2,310-square-foot duplex contains two separately configured apartments. The first-floor residence includes 2 bedrooms and 1 full bath, while the upper unit provides 3 bedrooms and 1 full bath. Each apartment has a covered front porch, and the lower unit adds a wrap-around deck oriented toward the private yard.
The property is fully rented to long-term tenants and includes a detached 2-car garage. Replacement windows serve the building, while metal roofing covers both the house and garage. Additional improvements have been completed over time, and the property carries TR zoning. Located at 1686-1688 N Main St in Palmer, Massachusetts, the residence was built in 1900.
The property is fully rented to long-term tenants and includes a detached 2-car garage. Replacement windows serve the building, while metal roofing covers both the house and garage. Additional improvements have been completed over time, and the property carries TR zoning. Located at 1686-1688 N Main St in Palmer, Massachusetts, the residence was built in 1900.
Key Highlights
- 2,310 SF duplex with 2‑bedroom and 3‑bedroom units
- Fully rented to long‑term tenants
- Detached 2‑car garage with metal roof
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
$28,039
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
8.63%
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%
$560,780
$560.8K
Cap Rate 7%
$400,557
$400.6K
Cap Rate 9%
$311,544
$311.5K
Market Conditions
NOI Build-Up for 2,310 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
$53.8K $23.28/SF
− Vacancy
−$2.8K −$1.21/SF
EGI
$51.0K $22.07/SF
− OpEx
−$22.9K −$9.93/SF
NOI
$28.0K $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%
$560,780
Cap Rate 7%
$400,557
Cap Rate 9%
$311,544
Alternative Uses
Best Use
Multifamily LT 5
$432.2K
$378.2K – $504.3K
NOI $30,256 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$400.6K
$350.5K – $467.3K
NOI $28,039 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$1.42M
$1.25M – $1.66M
NOI $99,659 @ 7.0% cap · market cap 30.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Explore this area
Business Placement
Demographics for 01069, MA
8,428
Population
4,192
Households
2
Avg Household Size
47
Median Age
25%
College-Educated
86%
High-School Grad
28.1 sq mi
ZIP Area
300
Density / Sq Mi
$79,725
Median Household Income
$50,341
Median Earnings
$929
Median Rent
$251,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully leased residential income property with updated windows, substantial outdoor space, and a private yard.
Where is this duplex located?
The property is located at 1686-1688 N Main St Palmer, MA.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 2,310 SF duplex with 2‑bedroom and 3‑bedroom units; Fully rented to long‑term tenants; Detached 2‑car garage with metal roof
