Ranch-Style Side-by-Side
For Sale
$285,000
Pending
47-49 Farragut St, Springfield, MA 01104
Residential Income, Springfield, MA
Property Size1,248 SF
Lot Size0.20 Acres
Days on Market38
Property Features for 47-49 Farragut St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Parking
2
Directions
Use GPS
Subdivision
East Springfield
Standard status
Pending
APN
S:04970 P:0019,2584167
Size
1,248 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3415
Building Details
Year built
1942
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX IGNITE · RE/MAX International
(413) 391-7928
Listed By:
Daisy Sanchez · License #9523217
(413) 221-8070
Added: Jul 20
Changed: Aug 19
Last Checked: Aug 26 at 3:06AM
MLS# 73552175
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 ranch-style duplex contains two side-by-side residences, each arranged on one level with one bedroom and one full bathroom. The property provides 1,248 square feet of total building area and was constructed in 1942. Both units are occupied by tenants, and the current occupants have expressed interest in remaining after a change in ownership.
The building sits on a 8,651-square-foot lot at 47-49 Farragut St in Springfield, Massachusetts. R2 zoning supports the property’s residential duplex configuration. The two-unit layout, separately organized living spaces, and existing occupancy create a straightforward residential income asset within Hampden County.
The building sits on a 8,651-square-foot lot at 47-49 Farragut St in Springfield, Massachusetts. R2 zoning supports the property’s residential duplex configuration. The two-unit layout, separately organized living spaces, and existing occupancy create a straightforward residential income asset within Hampden County.
Key Highlights
- Two‑unit ranch‑style duplex with side‑by‑side residences
- Each unit includes 1 bedroom and 1 bathroom
- 1,248 square feet of building area
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
$18,473
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
6.48%
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%
$369,460
$369.5K
Cap Rate 7%
$263,900
$263.9K
Cap Rate 9%
$205,256
$205.3K
Market Conditions
NOI Build-Up for 1,248 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
$27.7K $22.20/SF
− Vacancy
−$1.3K −$1.05/SF
EGI
$26.4K $21.15/SF
− OpEx
−$7.9K −$6.34/SF
NOI
$18.5K $14.80/SF
Area
Springfield, MA
Vacancy
4.75%
Lease Rate
$22.20 /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%
$369,460
Cap Rate 7%
$263,900
Cap Rate 9%
$205,256
Alternative Uses
Best Use
Multifamily LT 5
$263.9K
$230.9K – $307.9K
NOI $18,473 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$234.7K
$205.4K – $273.9K
NOI $16,432 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$338.9K
$296.5K – $395.4K
NOI $23,722 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
479
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 - Single-level duplex with two one-bedroom, one-bath residences and existing tenant occupancy.
Where is this duplex located?
The property is located at 47-49 Farragut St Springfield, MA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit ranch‑style duplex with side‑by‑side residences; Each unit includes 1 bedroom and 1 bathroom; 1,248 square feet of building area
