Three-Unit Multifamily
For Sale
$995,000
33-37 Cottage St, Amherst, MA 01002
Three separate apartments include shared laundry, appliances, and off-street parking in Amherst.
Property Size2,417 SF
Price / SF$411.67
Days on Market33
Property Features for 33-37 Cottage St
General Information
Standard status
Active
Size
2,417 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Units
Unit Mix
3 bedrooms & 1.5 baths, 2 bedrooms & 1 full bath
Multifamily Units
3
Amenities
coin-operated laundry room
Building Details
Year Built
1870
Listing Agency:
Berkshire Hathaway HomeServices Realty Professionals
Listed By:
Burke Group
Source:
Valkyrierealtyllc
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 25 at 5:47AM
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 2,417-square-foot triplex, constructed in 1870, contains three independent apartments with a combined seven bedrooms and five baths. The unit configuration includes one three-bedroom apartment with 1.5 baths and two two-bedroom apartments with one full bath each. Improvements include a coin-operated laundry room, included appliances, three electrical meters, and four hot water tanks. Seven off-street parking spaces serve the property.
The property is located at 33-37 Cottage Street in Amherst, adjacent to Amherst High School fields and within walking distance of downtown, Amherst College, UMass, restaurants, and shopping. Separate entrances and utility metering support distinct unit operations, while the existing layout accommodates either an investment property or an owner-occupant arrangement.
The property is located at 33-37 Cottage Street in Amherst, adjacent to Amherst High School fields and within walking distance of downtown, Amherst College, UMass, restaurants, and shopping. Separate entrances and utility metering support distinct unit operations, while the existing layout accommodates either an investment property or an owner-occupant arrangement.
Key Highlights
- Three‑unit property totaling 2,417 SF
- Seven bedrooms and five baths across three separate units
- Unit mix: 3BR/1.5BA, 2BR/1BA, and 2BR/1BA
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
$34,915
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
3.51%
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%
$698,300
$698.3K
Cap Rate 7%
$498,786
$498.8K
Cap Rate 9%
$387,944
$387.9K
Market Conditions
NOI Build-Up for 2,417 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
$52.2K $21.60/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$49.9K $20.64/SF
− OpEx
−$15.0K −$6.19/SF
NOI
$34.9K $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%
$698,300
Cap Rate 7%
$498,786
Cap Rate 9%
$387,944
Alternative Uses
Best Use
Multifamily LT 5
$498.8K
$436.4K – $581.9K
NOI $34,915 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$456.1K
$399.1K – $532.1K
NOI $31,925 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,034 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,167
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 - Three separate apartments include shared laundry, appliances, and off-street parking in Amherst.
Where is this triplex located?
The property is located at 33-37 Cottage St Amherst, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Three‑unit property totaling 2,417 SF; Seven bedrooms and five baths across three separate units; Unit mix: 3BR/1.5BA, 2BR/1BA, and 2BR/1BA
