Two-Unit Duplex with Updated
For Sale
$399,000
102 Lemuel Ave, Chicopee, MA 01013
The two apartments each offer two bedrooms, with one vacant and the other tenant occupied.
Property Size2,220 SF
Price / SF$179.73
Days on Market48
Property Features for 102 Lemuel Ave
General Information
Standard status
Active
Size
2,220 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Amenities
enclosed front porch
walk-up attic
finished basement with laundry hookups
Building Details
Year Built
1920
Buildings
1
Stories
2
Listing Agency:
Ideal Real Estate Services, Inc.
(413) 583-8882
Listed By:
Teresa Skora
(413) 204-5667
Source:
Remmesco
Added: Sep 16
Changed: Nov 1
Last Checked: Nov 1 at 1:44AM
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 Ideal Real Estate Services, Inc.
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Investment Insights
Based on property information with market context.
Built in 1920, this 2,220-square-foot duplex contains two apartments, each with two bedrooms, a living room, dining room, kitchen, and full bathroom. The first-floor unit is vacant and has a renovated kitchen, hardwood floors, gas heat, and central air conditioning. The occupied second-floor apartment includes a renovated kitchen, electric heat, and a covered deck.
Updates include the roof, siding, windows, doors, gutters, electrical and plumbing systems, heating, water heaters, and central air conditioning. The full basement has a heated finished room, walk-in closet, replacement egress windows, storage, cabinetry, and laundry hookups for both floors. A walk-up attic provides additional unfinished space; the home also has an enclosed front porch.
Updates include the roof, siding, windows, doors, gutters, electrical and plumbing systems, heating, water heaters, and central air conditioning. The full basement has a heated finished room, walk-in closet, replacement egress windows, storage, cabinetry, and laundry hookups for both floors. A walk-up attic provides additional unfinished space; the home also has an enclosed front porch.
Key Highlights
- Two apartments, each with two bedrooms
- First‑floor apartment is vacant; second‑floor unit is tenant occupied
- Major updates include roof, siding, windows, doors, electrical, plumbing, heating, and central AC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,077
Cap Rate
7.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,540
$581.5K
Cap Rate 7%
$415,386
$415.4K
Cap Rate 9%
$323,078
$323.1K
Market Conditions
NOI Build-Up for 2,220 SF
Gross rent
$44.0K $19.80/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$41.5K $18.71/SF
− OpEx
−$12.5K −$5.61/SF
NOI
$29.1K $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 Rate 5%
$581,540
Cap Rate 7%
$415,386
Cap Rate 9%
$323,078
Alternative Uses
Best Use
Multifamily LT 5
$415.4K
$363.5K – $484.6K
NOI $29,077 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$385.0K
$336.8K – $449.1K
NOI $26,947 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,776 @ 7.0% cap · market cap 24.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
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Business Placement
Demographics for 01013, MA
23,656
Population
10,309
Households
2.3
Avg Household Size
38
Median Age
23%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
4,150
Density / Sq Mi
$64,039
Median Household Income
$45,268
Median Earnings
$1,005
Median Rent
$249,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two apartments each offer two bedrooms, with one vacant and the other tenant occupied.
Where is this duplex located?
The property is located at 102 Lemuel Ave Chicopee, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two apartments, each with two bedrooms; First‑floor apartment is vacant; second‑floor unit is tenant occupied; Major updates include roof, siding, windows, doors, electrical, plumbing, heating, and central AC
