Duplex with Owned Solar
For Sale
$669,000
539 Pulpit Hill Road, Amherst, MA 01002
Two three-bedroom residences feature separate utilities and share a private acreage setting near Amherst’s educational and downtown amenities.
Property Size1,908 SF
Lot Size1.65 Acres
Price / SF$350.63
Days on Market46
Property Features for 539 Pulpit Hill Road
General Information
Standard status
Active
Size
1,908 SF
Lot size
1.65 Acres
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
solar system
Building Details
Year Built
1993
Listing Agency:
Delap Real Estate LLC
(413) 923-7622
Listed By:
Tess Coburn-Salem
(413) 923-7622
Source:
Delaprealestate
Added: Jul 17
Changed: Aug 30
Last Checked: Aug 30 at 8:09PM
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 Delap Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1993, this duplex contains two separate residences, each with three bedrooms and one bathroom. The 1908-square-foot property sits on 1.65 private acres and includes separate utility systems for the units. An owned solar installation may help offset utility costs.
The property is located near Puffer's Pond and approximately 3 miles from UMass and downtown Amherst. Nearby downtown amenities include restaurants and shops, while Amherst College and UMass contribute to the surrounding educational setting. The two-unit configuration provides distinct living spaces within a single residential income property.
The property is located near Puffer's Pond and approximately 3 miles from UMass and downtown Amherst. Nearby downtown amenities include restaurants and shops, while Amherst College and UMass contribute to the surrounding educational setting. The two-unit configuration provides distinct living spaces within a single residential income property.
Key Highlights
- Two 3‑bed, 1‑bath units with 6 bedrooms total
- 1908‑square‑foot duplex built in 1993
- Set on 1.65 private acres
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
$27,562
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
4.12%
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%
$551,240
$551.2K
Cap Rate 7%
$393,743
$393.7K
Cap Rate 9%
$306,244
$306.2K
Market Conditions
NOI Build-Up for 1,908 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
$41.2K $21.60/SF
− Vacancy
−$1.8K −$0.96/SF
EGI
$39.4K $20.64/SF
− OpEx
−$11.8K −$6.19/SF
NOI
$27.6K $14.45/SF
Area
Hampshire County, MA
Vacancy
4.46%
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%
$551,240
Cap Rate 7%
$393,743
Cap Rate 9%
$306,244
Alternative Uses
Best Use
Multifamily LT 5
$393.7K
$344.5K – $459.4K
NOI $27,562 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$360.0K
$315.0K – $420.0K
NOI $25,202 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,336 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
47
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
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 three-bedroom residences feature separate utilities and share a private acreage setting near Amherst’s educational and downtown amenities.
Where is this duplex located?
The property is located at 539 Pulpit Hill Road Amherst, MA.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Two 3‑bed, 1‑bath units with 6 bedrooms total; 1908‑square‑foot duplex built in 1993; Set on 1.65 private acres
