Building Details

Buildings 1

Listing Agency: Berkshire Hathaway HomeServices Realty Professionals Show Phone

Listed By: Kathleen Grudgen Show Phone

Source: Exprealty

Added: Sep 24 Changed: Oct 1 Last Checked: Oct 4 at 4:22PM

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Investment Insights

Based on property information with market context.

This 2,596-square-foot duplex contains 10 rooms, five bedrooms, two full bathrooms, and two half bathrooms. The right-hand unit has been remodeled and includes a first-floor bedroom and a bonus family room with a pellet stove. Both units are fully applianced; the left-hand unit needs updating. A heated two-car garage adds vehicle and storage space.

The property occupies over 2 acres in Wales, near Lake George. A passing Title V is in hand.

Key Highlights

• 2,596 square feet across a 10‑room, 5‑bedroom duplex
• Over 2 acres in Wales, near Lake George
• Right unit remodeled with a first‑floor bedroom and bonus family room featuring a pellet stove

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,002

Cap Rate

8.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$680,040 $680.0K

Cap Rate 7%

$485,743 $485.7K

Cap Rate 9%

$377,800 $377.8K

Market Conditions

NOI Build-Up for 2,596 SF

Gross rent

$51.4K $19.80/SF

− Vacancy

−$2.8K −$1.09/SF

EGI

$48.6K $18.71/SF

− OpEx

−$14.6K −$5.61/SF

NOI

$34.0K $13.10/SF

Area

Hampden County, MA

Vacancy

5.50%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$680,040

Cap Rate 7%

$485,743

Cap Rate 9%

$377,800

Alternative Uses

Best Use

Multifamily LT 5

$485.7K

$425.0K – $566.7K (±1% cap)

NOI $34,002 @ 7.0% cap · market cap 8.50%

Second Best

Apartment 5plus

$450.2K

$393.9K – $525.2K (±1% cap)

NOI $31,511 @ 7.0% cap · market cap 7.88%

Theoretical Best

Office A

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $111,998 @ 7.0% cap · market cap 28.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Plumbing Service Big Box & Wholesale Store Grocery & Convenience Store Pet Store Restaurant Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

12

Businesses Nearby

Explore this area Business Placement

Demographics for 01081, MA

1,684

Population

831

Households

2

Avg Household Size

45

Median Age

27%

College-Educated

91%

High-School Grad

14.5 sq mi

ZIP Area

116

Density / Sq Mi

$87,337

Median Household Income

$54,637

Median Earnings

$1,263

Median Rent

$275,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two separate units include a remodeled side and a second side ready for updating.

Where is this duplex located?

The property is located at 65 Lake George Rd Wales, MA.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: 2,596 square feet across a 10‑room, 5‑bedroom duplex; Over 2 acres in Wales, near Lake George; Right unit remodeled with a first‑floor bedroom and bonus family room featuring a pellet stove