Updated Multifamily Farmhouse
For Sale
$695,000
Pending
604 Sheffield Plain, Sheffield, MA 01257
Historic farmhouse conversion with updated apartments, outdoor space, laundry access, and on-site parking.
Property Size4,572 SF
Days on Market418
Property Features for 604 Sheffield Plain
General Information
Standard status
Pending
Size
4,572 SF
Property subtype
MultiFamily
Taxes and HOA fees
Annual Taxes
$7,786
Amenities
outdoor space
laundry facilities
Oil, Electric, Boiler, Yes
Yes
5
5.00
8.00
Dishwasher, Range, Refrigerator, Washer
Blue
Building Details
Year Built
1740
Listing Agency:
LANCE VERMEULEN RE, INC
(413) 329-4075
Listed By:
Antonio Segalla · License #009539871
(413) 329-4075
Source:
Compass
Added: Jul 9, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:12PM
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 LANCE VERMEULEN RE, INC
Investment Insights
Based on property information with market context.
This 4,572-square-foot multifamily property occupies a former farmhouse originally built in 1740. The building has been converted into multiple apartments, with updates throughout and retained historic character. Residents have access to private or shared outdoor space, laundry facilities, and on-site parking.
Located at 604 Sheffield Plain in Sheffield, the property sits just south of Great Barrington. Its setting provides access to area restaurants, employment centers, and local attractions while maintaining a residential property profile. Well-maintained grounds and the established farmhouse structure contribute to the asset’s physical presence.
Located at 604 Sheffield Plain in Sheffield, the property sits just south of Great Barrington. Its setting provides access to area restaurants, employment centers, and local attractions while maintaining a residential property profile. Well-maintained grounds and the established farmhouse structure contribute to the asset’s physical presence.
Key Highlights
- 4,572‑square‑foot multifamily property
- Originally built in 1740
- Multiple updated apartments
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
$62,481
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
8.99%
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%
$1,249,620
$1.2M
Cap Rate 7%
$892,586
$892.6K
Cap Rate 9%
$694,233
$694.2K
Market Conditions
NOI Build-Up for 4,572 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
$115.2K $25.20/SF
− Vacancy
−$1.6K −$0.35/SF
EGI
$113.6K $24.85/SF
− OpEx
−$51.1K −$11.18/SF
NOI
$62.5K $13.67/SF
Area
Berkshire County, MA
Vacancy
1.40%
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%
$1,249,620
Cap Rate 7%
$892,586
Cap Rate 9%
$694,233
Alternative Uses
Best Use
Apartment 5plus
$892.6K
$781.0K – $1.04M
NOI $62,481 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,708 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 01257, MA
2,140
Population
1,238
Households
1.7
Avg Household Size
53
Median Age
41%
College-Educated
100%
High-School Grad
33.9 sq mi
ZIP Area
63
Density / Sq Mi
$80,227
Median Household Income
$40,907
Median Earnings
$1,161
Median Rent
$432,100
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?
Multifamily property - Historic farmhouse conversion with updated apartments, outdoor space, laundry access, and on-site parking.
Where is this multifamily property located?
The property is located at 604 Sheffield Plain Sheffield, MA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 4,572‑square‑foot multifamily property; Originally built in 1740; Multiple updated apartments
