Two-Family Duplex with
For Sale
$435,000
34 E School St, West Springfield, MA 01089
Residential Income, West Springfield, MA
Property Size2,649 SF
Lot Size0.11 Acres
Price / SF$164.21
Days on Market33
Property Features for 34 E School St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
4
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 2, Bathroom 3, Bedroom 1
Parking
8
Elementary school
Memorial Elementary
Middle school
West Springfield Middle
High school
W.Springfield High
Directions
Off Main St.
Subdivision
Tatham
Standard status
Active
APN
2657692
Size
2,649 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4528
Amenities
separate utilities
replacement windows
fenced backyard
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty
(413) 565-5478
Listed By:
Laura Stevens
(413) 565-5478
Added: Jul 28
Changed: Aug 23
Last Checked: Aug 29 at 1:06AM
MLS# 73555976
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.
Built in 1900, this 2,649-square-foot duplex includes two distinct residential units and a two-car garage. The first-floor residence has an eat-in kitchen, dining room, living room, two bedrooms, and one full and one half bath. The upper unit includes a large kitchen, combined living and dining area, three bedrooms, and a full bath. A third-floor area with a full bath can extend the second unit’s usable space.
The property occupies 0.1148 acres at 34 E School St in West Springfield, Massachusetts, within Hampden County. Separate utilities, replacement windows, a fenced backyard, and RB zoning add practical ownership and operating features. Its configuration is suited to residential rental use or an owner seeking a two-unit property.
The property occupies 0.1148 acres at 34 E School St in West Springfield, Massachusetts, within Hampden County. Separate utilities, replacement windows, a fenced backyard, and RB zoning add practical ownership and operating features. Its configuration is suited to residential rental use or an owner seeking a two-unit property.
Key Highlights
- 2,649 square feet on 0.1148 acres
- Two‑car garage, fenced backyard, and replacement windows
- Separate utilities for the two residential units
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
$34,696
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
7.98%
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%
$693,920
$693.9K
Cap Rate 7%
$495,657
$495.7K
Cap Rate 9%
$385,511
$385.5K
Market Conditions
NOI Build-Up for 2,649 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
$52.5K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.6K $18.71/SF
− OpEx
−$14.9K −$5.61/SF
NOI
$34.7K $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 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%
$693,920
Cap Rate 7%
$495,657
Cap Rate 9%
$385,511
Alternative Uses
Best Use
Multifamily LT 5
$495.7K
$433.7K – $578.3K
NOI $34,696 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$459.3K
$401.9K – $535.9K
NOI $32,154 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,284 @ 7.0% cap · market cap 26.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 01089, MA
28,835
Population
13,095
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
91%
High-School Grad
16.7 sq mi
ZIP Area
1,727
Density / Sq Mi
$70,401
Median Household Income
$43,186
Median Earnings
$1,121
Median Rent
$307,900
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-unit residential property with separate utilities, replacement windows, and a fenced backyard.
Where is this duplex located?
The property is located at 34 E School St West Springfield, MA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 2,649 square feet on 0.1148 acres; Two‑car garage, fenced backyard, and replacement windows; Separate utilities for the two residential units
