4-Unit Quadplex With
For Sale
$674,900
27 West Street, Montague, MA 01351
Four residential units include private outdoor access, shared laundry, and an attached equestrian barn.
Property Size3,159 SF
Price / SF$213.64
Days on Market219
Property Features for 27 West Street
General Information
Standard status
Active
Size
3,159 SF
Total Parking Spaces
8
Property subtype
Multi-family / 4 Family - 4 Units Up/Down
Zoning
2A
Net Operating Income
$48,000
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,024
Amenities
coin-operated laundry room
barn with 11 horse stalls
No
4.0
Electric Dryer Hookup, Washer Hookup
4
4.00
Scenic View(s), Yes
Frame
Shingle
Deck - Wood, Patio
Building Details
Year Built
1979
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Benjamin Hause · License #9574813
(978) 840-9000
Source:
Compass
Added: Jan 24
Changed: Aug 30
Last Checked: Aug 30 at 11:41AM
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 Keller Williams Realty North Central
Investment Insights
Based on property information with market context.
This 1979 quadplex contains four two-bedroom residences, each with a full bathroom, kitchen, living room, and access to a deck or patio. Separate electric panels serve the units, while a shared Buderus system supplies heat and hot water. A coin-operated laundry room is also included.
The property encompasses over 28 acres and includes an attached barn with 11 horse stalls, hay storage above, and a half bathroom. A new septic system serves the property. Zoning is designated 2A.
The property encompasses over 28 acres and includes an attached barn with 11 horse stalls, hay storage above, and a half bathroom. A new septic system serves the property. Zoning is designated 2A.
Key Highlights
- Four two‑bedroom units, each with a full bathroom, kitchen, living room, and deck or patio access
- Over 28 acres included with the property
- Attached barn with 11 horse stalls, hay storage, and a 1/2 bathroom
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
$46,391
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
6.87%
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%
$927,820
$927.8K
Cap Rate 7%
$662,729
$662.7K
Cap Rate 9%
$515,456
$515.5K
Market Conditions
NOI Build-Up for 3,159 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
$70.1K $22.20/SF
− Vacancy
−$3.9K −$1.22/SF
EGI
$66.3K $20.98/SF
− OpEx
−$19.9K −$6.29/SF
NOI
$46.4K $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%
$927,820
Cap Rate 7%
$662,729
Cap Rate 9%
$515,456
Alternative Uses
Best Use
Multifamily LT 5
$662.7K
$579.9K – $773.2K
NOI $46,391 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$599.2K
$524.3K – $699.1K
NOI $41,945 @ 7.0% cap · market cap 6.21%
Theoretical Best
Healthcare Medical
$1.31M
$1.15M – $1.53M
NOI $91,696 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
39
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units include private outdoor access, shared laundry, and an attached equestrian barn.
Where is this quadplex located?
The property is located at 27 West Street Montague, MA.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: Four two‑bedroom units, each with a full bathroom, kitchen, living room, and deck or patio access; Over 28 acres included with the property; Attached barn with 11 horse stalls, hay storage, and a 1/2 bathroom
