Building Details

Year Built 1868

Listing Agency: Coldwell Banker Community REALTORS Show Phone

Listed By: Daniel Piasecki Show Phone

Source: Cbcommunityrealtors

Added: Jun 24 Changed: Aug 28 Last Checked: Aug 28 at 5:32PM

Report an Issue

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 Coldwell Banker Community REALTORS

Investment Insights

Based on property information with market context.

This updated two-family residence offers flexible living or rental configurations. The main unit includes a spacious kitchen with pantry, a dining area, and a living room, along with two bedrooms on the first floor and a full bath. An additional private third bedroom is located on the second floor. The second-floor apartment features a large one-bedroom layout with a spacious living room, an eat-in kitchen, and a full bath.

The property is set on a generous lot with direct access to a wooded area, providing a quiet outdoor setting. Improvements completed since 2022 include structural enhancements, new Pella Energy Star windows, a propane heating conversion, Mass Save insulation upgrades, a DryZone waterproofed basement system, and new exterior stairs and a deck for the upper unit.

With modernization already in place, the property is well suited for an owner-occupant who wants rental income from a separate unit while maintaining a private, classic home layout.

Key Highlights

• 1868 year‑built updated two‑family home with separate upper one‑bedroom apartment and main unit with two first‑floor bedrooms
• Main unit layout includes spacious kitchen with pantry, dining area, living room, full bath, plus a private third bedroom on the second floor
• Upper apartment features a large one‑bedroom layout with spacious living room, eat‑in kitchen, and full bath

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

$29,253

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

6.52%

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%

$585,060 $585.1K

Cap Rate 7%

$417,900 $417.9K

Cap Rate 9%

$325,033 $325.0K

Market Conditions

NOI Build-Up for 1,992 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

$44.2K $22.20/SF

− Vacancy

−$2.4K −$1.22/SF

EGI

$41.8K $20.98/SF

− OpEx

−$12.5K −$6.29/SF

NOI

$29.3K $14.69/SF

Area

Franklin County, MA

Vacancy

5.50%

Lease Rate

$22.20 /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%

$585,060

Cap Rate 7%

$417,900

Cap Rate 9%

$325,033

Alternative Uses

Best Use

Multifamily LT 5

$417.9K

$365.7K – $487.6K (±1% cap)

NOI $29,253 @ 7.0% cap · market cap 6.52%

Second Best

Apartment 5plus

$377.9K

$330.6K – $440.8K (±1% cap)

NOI $26,450 @ 7.0% cap · market cap 5.89%

Theoretical Best

Healthcare Medical

$826.0K

$722.8K – $963.7K (±1% cap)

NOI $57,822 @ 7.0% cap · market cap 12.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Big Box & Wholesale Store Electrical Service (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

65

Businesses Nearby

Explore this area Business Placement

Demographics for 01351, MA

2,293

Population

1,041

Households

2.2

Avg Household Size

48

Median Age

47%

College-Educated

90%

High-School Grad

19.6 sq mi

ZIP Area

117

Density / Sq Mi

$99,375

Median Household Income

$41,420

Median Earnings

$1,552

Median Rent

$308,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar For Sale Nearby

8-Unit Apartment Building

21 Turners Falls Road, Montague, MA 01376

$1,060,000

6,232 SF

View details

Remodeled Duplex with Private Outdoor Space

534-536 Turners Falls Road, Montague, MA 01351

$449,000

2,420 SF

View details

4-Unit Quadplex With Barn

27 West Street, Montague, MA 01351

$674,900

3,159 SF

View details

Warehouse/Office Space Opportunity

72 Unity St, Montague, MA 01376

$364,900

1.39 Acres

View details

Frequently Asked Questions

What type of property is this?

Duplex - Updated two-family home with two first-floor bedrooms in the main unit and a separate one-bedroom upper apartment.

Where is this duplex located?

The property is located at 2 Old Sunderland Montague, MA.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: 1868 year‑built updated two‑family home with separate upper one‑bedroom apartment and main unit with two first‑floor bedrooms; Main unit layout includes spacious kitchen with pantry, dining area, living room, full bath, plus a private third bedroom on the second floor; Upper apartment features a large one‑bedroom layout with spacious living room, eat‑in kitchen, and full bath