Two-Family Residential Income
For Sale
$360,000
40 Edward Ave, Pittsfield, MA 01201
MULTI_FAMILY - Pittsfield, MA
Property Size1,985 SF
Lot Size0.21 Acres
Price / SF$181.36
Days on Market53
Property Features for 40 Edward Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 3, Basement, Bedroom 4
Parking
4
Parking features
Off Street
Interior features
Cable Avail, Walk-In Closet(s), Granite Counter
Exterior features
Outbuilding
Basement
Full, Unfinished
Accessibility
Accessible Approach with Ramp
Appliances
Washer, Refrigerator, Range, Range Hood, Dryer, Dishwasher, Built-In Gas Oven, Built-In Electric Oven
Elementary school
Egremont
Middle school
Herberg (5&6) Reid (7&8)
High school
Pittsfield
Directions
GPS Friendly
Subdivision
Middle Registry
Standard status
Active
Size
1,985 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4158
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Oil, Steam
Water source
Public
Building Details
Year built
1907
Number of units
2
Flooring type
Laminate, Wood, Tile - Ceramic
Building materials
Wood Frame, Vinyl
Roof type
Asphalt
Additional Structures
Outbuilding
Listing Agency:
HOUSATONIC REAL ESTATE
(413) 274-5065
Listed By:
Molly DiGiovanni · License #9569929
(413) 429-7884
Added: Jun 20
Changed: Jul 28
Last Checked: Aug 11 at 9:06PM
MLS# 249976
Copyright © 2026 Berkshire County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family residential income property includes a primary unit with three bedrooms and 1.5 bathrooms, along with a second unit offering one bedroom and one bathroom. The home also features a fenced-in yard and a barn/workshop that can support additional storage or hobbies.
Located in the Southeast Pittsfield neighborhood, the property sits on a 0.21-acre lot and is listed for sale.
With two separate units, the property is designed to support owner occupancy while generating rental income from the second unit.
Located in the Southeast Pittsfield neighborhood, the property sits on a 0.21-acre lot and is listed for sale.
With two separate units, the property is designed to support owner occupancy while generating rental income from the second unit.
Key Highlights
- Two‑family property with 4 bedrooms and 3.5 total bathrooms, including a primary unit with 3 bedrooms and 1.5 bathrooms
- Second unit offers 1 bedroom and 1 bathroom
- Fenced yard plus outbuilding/barn/workshop for hobbies or storage
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-family home in Pittsfield with a fenced yard and a barn/workshop.
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 property with 4 bedrooms and 3.5 total bathrooms, including a primary unit with 3 bedrooms and 1.5 bathrooms; Second unit offers 1 bedroom and 1 bathroom; Fenced yard plus outbuilding/barn/workshop for hobbies or storage
