Residential Income Property with
For Sale
$453,000
Pending
51 Amity Pl, Amherst, MA 01002
Three-level townhouse with a wood-burning fireplace, ceramic tile main floor, and access to established in-town amenities.
Property Size1,327 SF
Days on Market28
Property Features for 51 Amity Pl
General Information
Standard status
Pending
Size
1,327 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Amenities
Range
Dishwasher
Disposal
Microwave
Refrigerator
Washer
Dryer
Central Air
1 Fireplace
Tile
Carpet
Hardwood
Flooring - Stone/Ceramic Tile
Central, Forced Air, Heat Pump, Electric
3.0 Stories
$7,647 Taxes
Public
Built in 1986
Building Details
Year Built
1986
Stories
3
Construction
townhouse
Listing Agency:
5 College REALTORS
(413) 549-5555
Listed By:
Sally Malsch · License #9005713
Source:
Donahuere
Added: Jul 16
Changed: Aug 8
Last Checked: Aug 6 at 3:29AM
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 5 College REALTORS
Investment Insights
Based on property information with market context.
This 3-bedroom, 2.5-bath townhouse spans 1,327 SF across three levels and includes a one-car garage. The main level features ceramic tile flooring, a sunken living room, a wood fireplace, and built-in shelving. Box windows bring natural light into the living area, while the east/west orientation provides both morning and evening sun.
The residence is part of the 80-unit Amity Place complex at 51 Amity Pl in Amherst. Its setting includes a private corner position adjoining conservation land. Amherst Center, restaurants, a cinema, UMASS, academic and athletic facilities, and shopping in nearby Hadley are identified as accessible destinations. The property was built in 1986.
The residence is part of the 80-unit Amity Place complex at 51 Amity Pl in Amherst. Its setting includes a private corner position adjoining conservation land. Amherst Center, restaurants, a cinema, UMASS, academic and athletic facilities, and shopping in nearby Hadley are identified as accessible destinations. The property was built in 1986.
Key Highlights
- 3‑bedroom, 2.5‑bath townhouse with 1,327 SF across 3 levels
- One‑car garage included
- Wood fireplace with built‑ins in the sunken living room
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
$17,528
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
3.87%
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%
$350,560
$350.6K
Cap Rate 7%
$250,400
$250.4K
Cap Rate 9%
$194,756
$194.8K
Market Conditions
NOI Build-Up for 1,327 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
$33.4K $25.20/SF
− Vacancy
−$1.6K −$1.18/SF
EGI
$31.9K $24.02/SF
− OpEx
−$14.3K −$10.81/SF
NOI
$17.5K $13.21/SF
Area
Hampshire County, MA
Vacancy
4.70%
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%
$350,560
Cap Rate 7%
$250,400
Cap Rate 9%
$194,756
Alternative Uses
Best Use
Apartment 5plus
$250.4K
$219.1K – $292.1K
NOI $17,528 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$808.1K
$707.1K – $942.8K
NOI $56,568 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
929
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Three-level townhouse with a wood-burning fireplace, ceramic tile main floor, and access to established in-town amenities.
Where is this residential income property located?
The property is located at 51 Amity Pl Amherst, MA.
What is the asking price?
The asking price for this property is $453,000.
What are key features of this property?
This property features: 3‑bedroom, 2.5‑bath townhouse with 1,327 SF across 3 levels; One‑car garage included; Wood fireplace with built‑ins in the sunken living room
