Updated Duplex with
For Sale
$290,000
34 Washington Street, Greenfield, MA 01301
Two renovated units combine modern kitchens, hardwood flooring, mini-split systems, and substantial recent improvements.
Property Size1,502 SF
Price / SF$193.08
Days on Market8
Property Features for 34 Washington Street
General Information
Standard status
Active
Size
1,502 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Naples Realty Group
Listed By:
The Gerber Group
(413) 584-5700
Source:
Murphyrealtors
Added: Aug 2
Changed: Aug 9
Last Checked: Aug 9 at 12:14PM
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 Naples Realty Group
Investment Insights
Based on property information with market context.
This two-unit residential income property at 34 Washington Street includes 1,502 SF of living area and dates to 1900. Both residences have received broad interior and exterior work, including kitchen, bathroom, flooring, door, window, and roof improvements. Unit 1 offers a multi-level layout with wood flooring, an updated kitchen, a 695 CFM range hood, replacement windows, and mini-split heating and cooling. Unit 2 features hardwood floors, renovated kitchen finishes, new front and rear exterior doors, replacement windows, mini-split heating and cooling, and supplemental electric baseboard heat.
A metal roof and solar panel system were installed in 2019. The property is positioned near downtown Greenfield shops and dining, with access to major travel routes. The configuration supports continued use as a two-unit property for an investor or owner-occupant.
A metal roof and solar panel system were installed in 2019. The property is positioned near downtown Greenfield shops and dining, with access to major travel routes. The configuration supports continued use as a two-unit property for an investor or owner-occupant.
Key Highlights
- Two‑unit property with 1,502 SF of living area
- Metal roof and solar panel system installed in 2019
- Unit 1 includes a multi‑level layout and 695 CFM range hood
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
$22,057
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
7.61%
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%
$441,140
$441.1K
Cap Rate 7%
$315,100
$315.1K
Cap Rate 9%
$245,078
$245.1K
Market Conditions
NOI Build-Up for 1,502 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
$33.3K $22.20/SF
− Vacancy
−$1.8K −$1.22/SF
EGI
$31.5K $20.98/SF
− OpEx
−$9.5K −$6.29/SF
NOI
$22.1K $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%
$441,140
Cap Rate 7%
$315,100
Cap Rate 9%
$245,078
Alternative Uses
Best Use
Multifamily LT 5
$315.1K
$275.7K – $367.6K
NOI $22,057 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$284.9K
$249.3K – $332.4K
NOI $19,943 @ 7.0% cap · market cap 6.88%
Theoretical Best
Healthcare Medical
$622.8K
$545.0K – $726.6K
NOI $43,598 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Explore this area
Business Placement
Demographics for 01301, MA
18,042
Population
8,761
Households
2.1
Avg Household Size
45
Median Age
38%
College-Educated
92%
High-School Grad
25.3 sq mi
ZIP Area
713
Density / Sq Mi
$54,347
Median Household Income
$37,630
Median Earnings
$1,098
Median Rent
$253,800
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 renovated units combine modern kitchens, hardwood flooring, mini-split systems, and substantial recent improvements.
Where is this duplex located?
The property is located at 34 Washington Street Greenfield, MA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit property with 1,502 SF of living area; Metal roof and solar panel system installed in 2019; Unit 1 includes a multi‑level layout and 695 CFM range hood
