Duplex with Two-Car
For Sale
$319,900
278-280 Page Blvd, Springfield, MA 01104
Residential Income, Springfield, MA
Property Size2,106 SF
Lot Size0.11 Acres
Price / SF$151.90
Days on Market80
Property Features for 278-280 Page Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 4
Parking
4
Directions
St. James Ave to Page Blvd
Standard status
Active
APN
S:09440 P:0046,2599474
Size
2,106 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4475
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty
(413) 565-5478
Listed By:
Laura Stevens
(413) 565-5478
Added: Jun 11
Changed: Aug 20
Last Checked: Aug 29 at 1:06AM
MLS# 73534837
Copyright © 2026 MLS Property Information Network Inc. 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 1925 duplex contains two 2-bedroom units within 2,106 square feet of building area. Both apartments include hardwood flooring, living rooms, dining rooms, bathrooms, and gas heat. The property is supported by a two-car garage and additional off-street parking on a 0.1118-acre lot, with R2 zoning.
Located in Springfield, the property sits one traffic light from Highway 291 and near shopping, restaurants, churches, and everyday amenities. Both units are fully rented, and one resident has occupied a unit for more than 25 years. The Page Boulevard address places the property in a central setting with established residential and commercial access nearby.
Located in Springfield, the property sits one traffic light from Highway 291 and near shopping, restaurants, churches, and everyday amenities. Both units are fully rented, and one resident has occupied a unit for more than 25 years. The Page Boulevard address places the property in a central setting with established residential and commercial access nearby.
Key Highlights
- Two 2‑bedroom units in a duplex
- 2,106 square feet on a 0.1118‑acre lot
- Two‑car garage plus additional off‑street parking
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
$27,730
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
8.67%
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%
$554,600
$554.6K
Cap Rate 7%
$396,143
$396.1K
Cap Rate 9%
$308,111
$308.1K
Market Conditions
NOI Build-Up for 2,106 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
$53.1K $25.20/SF
− Vacancy
−$2.7K −$1.26/SF
EGI
$50.4K $23.94/SF
− OpEx
−$22.7K −$10.77/SF
NOI
$27.7K $13.17/SF
Area
Springfield, MA
Vacancy
5.00%
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%
$554,600
Cap Rate 7%
$396,143
Cap Rate 9%
$308,111
Alternative Uses
Best Use
Multifamily LT 5
$445.3K
$389.7K – $519.6K
NOI $31,173 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$396.1K
$346.6K – $462.2K
NOI $27,730 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$571.9K
$500.4K – $667.2K
NOI $40,031 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
Explore this area
Business Placement
Demographics for 01104, MA
23,598
Population
9,562
Households
2.5
Avg Household Size
38
Median Age
13%
College-Educated
77%
High-School Grad
5.2 sq mi
ZIP Area
4,538
Density / Sq Mi
$47,530
Median Household Income
$37,463
Median Earnings
$1,004
Median Rent
$210,800
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 fully rented units feature hardwood floors, gas heat, and separate living and dining areas.
Where is this duplex located?
The property is located at 278-280 Page Blvd Springfield, MA.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Two 2‑bedroom units in a duplex; 2,106 square feet on a 0.1118‑acre lot; Two‑car garage plus additional off‑street parking
