Renovated Ranch with Adjoining
For Sale
$429,000
689 N Main St, Sheffield, MA 01257
MultiFamily, Sheffield, MA
Property Size2,258 SF
Lot Size0.50 Acres
Price / SF$189.99
Days on Market92
Property Features for 689 N Main St
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning description
Business, Multi
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Parking
5
Parking features
Garage
Interior features
Cable Avail, High Speed Wiring, Inlaw/ Guest Qtrs, Jet Tub, Pets Allowed, Walk-In Closet(s), Vaulted Ceilings
Appliances
Washer, Refrigerator, Range, Microwave, Dryer, Dishwasher, Cooktop, Built-In Electric Oven
Lot features
Paved Drive, Irregular Shape
Elementary school
Undermountain
Middle school
Mount Everett
High school
Mount Everett
Directions
If coming from Center of the town of Sheffield, drive North on Main Street. Property is across the street from the Dollar store. Traveling from Great Barrington, property is on the right.
Subdivision
South Registry
Standard status
Active
APN
SHEF M:032.0 B:0004 L:0006.0
Size
2,258 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3209
Utilities
Utilities
Cable Available
Sewer type
Private Sewer
Heating system
Electric (Heating), Forced Air, Oil
Water source
Public
Building Details
Year built
1957
Number of units
2
Flooring type
Carpet, Tile - Ceramic, Wood, Laminate
Building materials
Wood Frame, Wood
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
HOUSATONIC REAL ESTATE
(413) 274-5065
Listed By:
Judi Panzano · License #9585682
(203) 209-8769
Added: May 21
Changed: Aug 19
Last Checked: Aug 20 at 8:06AM
MLS# 249626
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 completely renovated ranch home offers a main residence with three bedrooms, a full bath, washer/dryer, a large new kitchen, and garage space. An adjoining, brand-new apartment provides a finished kitchen with granite countertops, a full bath, washer/dryer, and private backyard access. Updates also include a new roof, new 3-bedroom septic system, backyard fencing, and new grass.
Set on a 0.50-acre commercially zoned lot, the property is located in Sheffield, MA, with downtown Great Barrington about a 5-minute drive away.
The layout supports flexible use as either one combined live/work arrangement or two separate living spaces, with the apartment’s private backyard access providing additional separation between the units.
Set on a 0.50-acre commercially zoned lot, the property is located in Sheffield, MA, with downtown Great Barrington about a 5-minute drive away.
The layout supports flexible use as either one combined live/work arrangement or two separate living spaces, with the apartment’s private backyard access providing additional separation between the units.
Key Highlights
- Completely renovated 3‑bedroom ranch with 2,258 sq. ft. of living space (main residence)
- Adjoining apartment with private backyard access; includes finished kitchen with granite countertops, full bath, and washer/dryer
- Set on a 0.50‑acre commercially zoned lot, about a 5‑minute drive to downtown Great Barrington
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
$33,687
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
7.85%
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%
$673,740
$673.7K
Cap Rate 7%
$481,243
$481.2K
Cap Rate 9%
$374,300
$374.3K
Market Conditions
NOI Build-Up for 2,258 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
$48.8K $21.60/SF
− Vacancy
−$649 −$0.29/SF
EGI
$48.1K $21.31/SF
− OpEx
−$14.4K −$6.39/SF
NOI
$33.7K $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%
$673,740
Cap Rate 7%
$481,243
Cap Rate 9%
$374,300
Alternative Uses
Best Use
Multifamily LT 5
$481.2K
$421.1K – $561.5K
NOI $33,687 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$440.8K
$385.7K – $514.3K
NOI $30,858 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$661.1K
$578.5K – $771.3K
NOI $46,280 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
46
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?
Duplex - Renovated ranch with a second adjoining apartment and private backyard access on a commercially zoned lot.
Where is this duplex located?
The property is located at 689 N Main St Sheffield, MA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Completely renovated 3‑bedroom ranch with 2,258 sq. ft. of living space (main residence); Adjoining apartment with private backyard access; includes finished kitchen with granite countertops, full bath, and washer/dryer; Set on a 0.50‑acre commercially zoned lot, about a 5‑minute drive to downtown Great Barrington
