Well-Maintained Two-Family
For Sale
$399,900
Pending
344 Conway Street, Greenfield, MA 01301
Two-family residence with both units vacant, recently updated systems, and a full walk-up attic on a wooded 2.19-acre lot.
Property Size2,644 SF
Lot Size2.19 Acres
Days on Market49
Property Features for 344 Conway Street
General Information
Standard status
Pending
Size
2,644 SF
Lot size
2.19 Acres
Property subtype
Multi Family
Amenities
three inviting porches
full walk-up attic
Building Details
Building Size
2,644 SF
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Jul 28
Changed: Sep 13
Last Checked: Sep 14 at 8:54AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers flexible living and leasing options with both units currently vacant. The property provides immediate occupancy flexibility for an owner-occupant, while also supporting rental use for the second unit. A full walk-up attic adds practical storage or potential living-area expansion after verification.
Set on a 2.19-acre lot, the home includes three inviting porches and ample parking, with wooded privacy described on-site. Recent improvements include a new roof, new natural gas heating systems, new natural gas hot water heaters, vinyl replacement windows, aluminum siding, and wood and vinyl flooring for easier maintenance.
Additional compliance documentation is included with lead compliance certificates for both units. The home was built in 1900 and contains 2,644 SF of total property size, offering a strong starting point for investors, multigenerational households, or buyers looking for room to grow.
Set on a 2.19-acre lot, the home includes three inviting porches and ample parking, with wooded privacy described on-site. Recent improvements include a new roof, new natural gas heating systems, new natural gas hot water heaters, vinyl replacement windows, aluminum siding, and wood and vinyl flooring for easier maintenance.
Additional compliance documentation is included with lead compliance certificates for both units. The home was built in 1900 and contains 2,644 SF of total property size, offering a strong starting point for investors, multigenerational households, or buyers looking for room to grow.
Key Highlights
- Both units vacant for immediate occupancy flexibility
- 2.19‑acre wooded lot with space and privacy
- Recent upgrades include new roof, natural gas heating systems, and natural gas hot water heaters
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
$35,107
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
8.78%
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%
$702,140
$702.1K
Cap Rate 7%
$501,529
$501.5K
Cap Rate 9%
$390,078
$390.1K
Market Conditions
NOI Build-Up for 2,644 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
$66.6K $25.20/SF
− Vacancy
−$2.8K −$1.06/SF
EGI
$63.8K $24.14/SF
− OpEx
−$28.7K −$10.86/SF
NOI
$35.1K $13.28/SF
Area
Franklin County, MA
Vacancy
4.20%
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%
$702,140
Cap Rate 7%
$501,529
Cap Rate 9%
$390,078
Alternative Uses
Best Use
Multifamily LT 5
$554.7K
$485.4K – $647.1K
NOI $38,828 @ 7.0% cap · market cap 9.71%
Second Best
Apartment 5plus
$501.5K
$438.8K – $585.1K
NOI $35,107 @ 7.0% cap · market cap 8.78%
Theoretical Best
Healthcare Medical
$1.10M
$959.3K – $1.28M
NOI $76,747 @ 7.0% cap · market cap 19.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
219
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence with both units vacant, recently updated systems, and a full walk-up attic on a wooded 2.19-acre lot.
Where is this duplex located?
The property is located at 344 Conway Street Greenfield, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Both units vacant for immediate occupancy flexibility; 2.19‑acre wooded lot with space and privacy; Recent upgrades include new roof, natural gas heating systems, and natural gas hot water heaters
