Three-Family Property with
For Sale
$600,000
704 Belchertown Rd, Ware, MA 01082
Three separate residences include private laundry areas, individual heating, and separate electric meters.
Property Size3,048 SF
Lot Size1.38 Acres
Price / SF$196.85
Days on Market46
Property Features for 704 Belchertown Rd
General Information
Standard status
Active
Size
3,048 SF
Lot size
1.38 Acres
Property subtype
3 Family
Units
Unit Mix
2 x 2BR, 1 x 3BR
Multifamily Units
3
Individually Metered Utilities
electricity
Amenities
deck
storage shed
laundry area
off-street parking
Building Details
Year Built
1989
Listing Agency:
Real Estate Exchange
(978) 582-4339
Listed By:
Bessie Coutu
(508) 364-7683
Source:
Ninasoto
Added: Sep 17
Changed: Oct 30
Last Checked: Oct 30 at 2:44PM
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 Real Estate Exchange
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Investment Insights
Based on property information with market context.
This 1989 triplex contains 3,048 square feet across three units, with a combined seven bedrooms and three full bathrooms. Two ground-floor apartments have two bedrooms each; the upper residence has three bedrooms, a kitchen and dining area, a living room with a vaulted ceiling, and a third-floor loft. Each unit has its own laundry area, separate electric metering, and individual heating. The property also includes a newer septic system, a deck, and an oversized storage shed.
The 1.38-acre property is in Ware, near the Belchertown line and across from the Quabbin Reservoir. Area amenities, major routes, and conservation areas are nearby. On-site features include paved and off-street parking and a level yard.
The 1.38-acre property is in Ware, near the Belchertown line and across from the Quabbin Reservoir. Area amenities, major routes, and conservation areas are nearby. On-site features include paved and off-street parking and a level yard.
Key Highlights
- Three units with 7 bedrooms and 3 full bathrooms
- 3,048 square feet on approximately 1.38 acres
- Upper‑level unit includes a third‑floor loft and vaulted‑ceiling living room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,030
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,600
$880.6K
Cap Rate 7%
$629,000
$629.0K
Cap Rate 9%
$489,222
$489.2K
Market Conditions
NOI Build-Up for 3,048 SF
Gross rent
$65.8K $21.60/SF
− Vacancy
−$2.9K −$0.96/SF
EGI
$62.9K $20.64/SF
− OpEx
−$18.9K −$6.19/SF
NOI
$44.0K $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 Rate 5%
$880,600
Cap Rate 7%
$629,000
Cap Rate 9%
$489,222
Alternative Uses
Best Use
Multifamily LT 5
$629.0K
$550.4K – $733.8K
NOI $44,030 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$575.1K
$503.3K – $671.0K
NOI $40,260 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$1.86M
$1.62M – $2.17M
NOI $129,933 @ 7.0% cap · market cap 21.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
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Business Placement
Demographics for 01082, MA
10,565
Population
5,021
Households
2.1
Avg Household Size
44
Median Age
26%
College-Educated
92%
High-School Grad
47.0 sq mi
ZIP Area
225
Density / Sq Mi
$71,023
Median Household Income
$49,991
Median Earnings
$1,049
Median Rent
$271,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences include private laundry areas, individual heating, and separate electric meters.
Where is this triplex located?
The property is located at 704 Belchertown Rd Ware, MA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Three units with 7 bedrooms and 3 full bathrooms; 3,048 square feet on approximately 1.38 acres; Upper‑level unit includes a third‑floor loft and vaulted‑ceiling living room
