Three-Unit Property with
New
For Sale
$599,900
229-261 Belchertown Rd, Amherst, MA 01002
Separate utilities, natural gas heating, and public water and sewer support practical day-to-day property operations.
Property Size2,212 SF
Price / SF$271.20
Days on Market7
Property Features for 229-261 Belchertown Rd
General Information
Standard status
Active
Size
2,212 SF
Property subtype
3 Family
Building Details
Year Built
1910
Listing Agency:
5 College REALTORS
(413) 221-1841
Listed By:
Jacqui Zuzgo · License #449000160
(413) 221-1841
Source:
Lockandkeyre
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 6:14AM
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 5 College REALTORS
Investment Insights
Based on property information with market context.
Located at 229-261 Belchertown Rd in Amherst, this three-unit property was built in 1910 and contains 2,212 SF. The units have separate utilities, while three natural gas boilers provide heating. Units A and B feature pine floors, and the property includes a metal roof, a deck, and a generous backyard with space for outdoor use.
Paved off-street parking serves tenants and guests. Public water and sewer are connected to the property, and a bus stop is within walking distance. The location also provides access to area schools. These features combine distinct utility arrangements, established building improvements, and practical outdoor and parking amenities in one multifamily property.
Paved off-street parking serves tenants and guests. Public water and sewer are connected to the property, and a bus stop is within walking distance. The location also provides access to area schools. These features combine distinct utility arrangements, established building improvements, and practical outdoor and parking amenities in one multifamily property.
Key Highlights
- Three‑unit property built in 1910
- 2,212 SF property at 229‑261 Belchertown Rd, Amherst, MA 01002
- Separate utilities for each unit
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
$31,954
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
5.33%
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%
$639,080
$639.1K
Cap Rate 7%
$456,486
$456.5K
Cap Rate 9%
$355,044
$355.0K
Market Conditions
NOI Build-Up for 2,212 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
$47.8K $21.60/SF
− Vacancy
−$2.1K −$0.96/SF
EGI
$45.6K $20.64/SF
− OpEx
−$13.7K −$6.19/SF
NOI
$32.0K $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%
$639,080
Cap Rate 7%
$456,486
Cap Rate 9%
$355,044
Alternative Uses
Best Use
Multifamily LT 5
$456.5K
$399.4K – $532.6K
NOI $31,954 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$417.4K
$365.2K – $487.0K
NOI $29,217 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,295 @ 7.0% cap · market cap 15.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Explore this area
Business Placement
Demographics for 01002, MA
27,558
Population
11,089
Households
2.5
Avg Household Size
30
Median Age
74%
College-Educated
97%
High-School Grad
53.3 sq mi
ZIP Area
517
Density / Sq Mi
$69,411
Median Household Income
$22,570
Median Earnings
$1,561
Median Rent
$449,000
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?
Triplex - Separate utilities, natural gas heating, and public water and sewer support practical day-to-day property operations.
Where is this triplex located?
The property is located at 229-261 Belchertown Rd Amherst, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Three‑unit property built in 1910; 2,212 SF property at 229‑261 Belchertown Rd, Amherst, MA 01002; Separate utilities for each unit
