Two-Family Residential Income
For Sale
$360,000
40 Edward Ave, Pittsfield, MA 01201
Two-unit home with a fenced yard and barn/workshop for owner-occupiers or rental buyers.
Property Size1,985 SF
Price / SF$181.36
Days on Market54
Property Features for 40 Edward Ave
General Information
Standard status
Active
Size
1,985 SF
Property subtype
MultiFamily
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Year Built
1907
Listing Agency:
HOUSATONIC REAL ESTATE
(413) 429-7884
Listed By:
Molly DiGiovanni
(413) 429-7884
Source:
Lockandkeyre
Added: Jun 20
Changed: Aug 11
Last Checked: Aug 11 at 6:01AM
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 HOUSATONIC REAL ESTATE
Investment Insights
Based on property information with market context.
This two-family residential property provides a practical owner-occupied setup with income-producing flexibility. The primary unit includes three bedrooms and 1.5 bathrooms, designed for comfortable day-to-day living. A second unit offers one bedroom and one bathroom, suited to renting, extended family use, or a private workspace. The home also includes a fenced-in yard and an on-site barn/workshop, which can support storage needs or hobbies.
Located in the Southeast Pittsfield neighborhood, the property is offered as an owner-occupied opportunity. The address is 40 Edward Ave, Pittsfield, MA 01201.
For buyers looking for a live-in option with an additional unit, this layout supports a shared ownership model where one side can be occupied while the other generates rental income. The fenced yard adds usable outdoor space, and the barn/workshop provides extra room beyond typical residential storage. This configuration may also appeal to multi-generational households seeking separate living arrangements under one roof.
Located in the Southeast Pittsfield neighborhood, the property is offered as an owner-occupied opportunity. The address is 40 Edward Ave, Pittsfield, MA 01201.
For buyers looking for a live-in option with an additional unit, this layout supports a shared ownership model where one side can be occupied while the other generates rental income. The fenced yard adds usable outdoor space, and the barn/workshop provides extra room beyond typical residential storage. This configuration may also appeal to multi-generational households seeking separate living arrangements under one roof.
Key Highlights
- Two‑family home built in 1907 in the Southeast Pittsfield neighborhood
- Primary unit features 3 bedrooms and 1.5 bathrooms
- Second unit features 1 bedroom and 1 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
$29,614
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
8.23%
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%
$592,280
$592.3K
Cap Rate 7%
$423,057
$423.1K
Cap Rate 9%
$329,044
$329.0K
Market Conditions
NOI Build-Up for 1,985 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
$42.9K $21.60/SF
− Vacancy
−$570 −$0.29/SF
EGI
$42.3K $21.31/SF
− OpEx
−$12.7K −$6.39/SF
NOI
$29.6K $14.92/SF
Area
Berkshire County, MA
Vacancy
1.33%
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%
$592,280
Cap Rate 7%
$423,057
Cap Rate 9%
$329,044
Alternative Uses
Best Use
Multifamily LT 5
$423.1K
$370.2K – $493.6K
NOI $29,614 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$387.5K
$339.1K – $452.1K
NOI $27,127 @ 7.0% cap · market cap 7.54%
Theoretical Best
Office A
$581.2K
$508.6K – $678.1K
NOI $40,685 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
543
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-unit home with a fenced yard and barn/workshop for owner-occupiers or rental buyers.
Where is this duplex located?
The property is located at 40 Edward Ave Pittsfield, MA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two‑family home built in 1907 in the Southeast Pittsfield neighborhood; Primary unit features 3 bedrooms and 1.5 bathrooms; Second unit features 1 bedroom and 1 bathroom
