Duplex with Private
For Sale
$219,900
233 Cadwell Road, Pittsfield, MA 01201
Two residential units on a level, nearly 1.5-acre parcel with decks and an unfinished walk-out basement.
Property Size1,440 SF
Price / SF$152.71
Days on Market264
Property Features for 233 Cadwell Road
General Information
Standard status
Active
Size
1,440 SF
Total Parking Spaces
2
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
RG
Net Operating Income
$24,000
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,794
Amenities
No
Vinyl, Carpet, Laminate
2.0
Insulated Windows
Washer Hookup
Full, Walk Out, Unfinished Basement
Living Room, Kitchen
2
2.00
Frame
Shingle
Flood Plain, Level
Deck
Building Details
Year Built
1976
Listing Agency:
Berkshire Hathaway HomeServices Realty Professionals
(413) 567-3361
Listed By:
The Denise DeSellier Team
(413) 567-3361
Source:
Compass
Added: Dec 11, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:08AM
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 Berkshire Hathaway HomeServices Realty Professionals
Investment Insights
Based on property information with market context.
This two-family property contains 1,440 square feet and was built in 1976. Each unit includes a deck overlooking the backyard, while interior features include vinyl, carpet, and laminate flooring, insulated windows, washer hookups, and a living room and kitchen. The full, unfinished walk-out basement adds storage and utility space.
The property occupies just under 1.5 acres at 233 Cadwell Road in Pittsfield, Massachusetts. The parcel is level and identified as being in a flood plain; flood insurance is needed. Shopping, dining, and other city amenities are described as minutes away. RG zoning supports the property’s documented residential classification.
The property occupies just under 1.5 acres at 233 Cadwell Road in Pittsfield, Massachusetts. The parcel is level and identified as being in a flood plain; flood insurance is needed. Shopping, dining, and other city amenities are described as minutes away. RG zoning supports the property’s documented residential classification.
Key Highlights
- Two‑family property with 1,440 SF, built in 1976
- Nearly 1.5 acres with a level parcel and spacious backyard
- Each unit includes a deck overlooking the backyard
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
$19,679
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
8.95%
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%
$393,580
$393.6K
Cap Rate 7%
$281,129
$281.1K
Cap Rate 9%
$218,656
$218.7K
Market Conditions
NOI Build-Up for 1,440 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
$36.3K $25.20/SF
− Vacancy
−$508 −$0.35/SF
EGI
$35.8K $24.85/SF
− OpEx
−$16.1K −$11.18/SF
NOI
$19.7K $13.67/SF
Area
Berkshire County, MA
Vacancy
1.40%
Lease Rate
$25.20 /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%
$393,580
Cap Rate 7%
$281,129
Cap Rate 9%
$218,656
Alternative Uses
Best Use
Multifamily LT 5
$306.9K
$268.5K – $358.1K
NOI $21,483 @ 7.0% cap · market cap 9.77%
Second Best
Apartment 5plus
$281.1K
$246.0K – $328.0K
NOI $19,679 @ 7.0% cap · market cap 8.95%
Theoretical Best
Office A
$421.6K
$368.9K – $491.9K
NOI $29,514 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 01201, MA
45,494
Population
22,566
Households
2
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
60.4 sq mi
ZIP Area
753
Density / Sq Mi
$68,879
Median Household Income
$43,054
Median Earnings
$1,098
Median Rent
$236,500
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 - Two residential units on a level, nearly 1.5-acre parcel with decks and an unfinished walk-out basement.
Where is this duplex located?
The property is located at 233 Cadwell Road Pittsfield, MA.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two‑family property with 1,440 SF, built in 1976; Nearly 1.5 acres with a level parcel and spacious backyard; Each unit includes a deck overlooking the backyard
