Renovated Two-Unit
For Sale
$439,000
113-117 Cedar St, Springfield, MA 01105
Vacant multifamily property with separate driveways, fenced outdoor areas, and newly installed gas central heating.
Property Size2,456 SF
Price / SF$178.75
Days on Market286
Property Features for 113-117 Cedar St
General Information
Standard status
Active
Size
2,456 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
R2
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,963
Amenities
Contract
false
Window Unit(s)
Central, Forced Air, Electric, Natural Gas
Range, Refrigerator
Lead Certification Available, Storage, Bathroom With Tub & Shower, Walk-Up Attic, Living Room, Kitchen, Laundry Room, Mudroom
City View(s), City
Fenced/Enclosed, Fenced
No
Yes
Shingle
Rain Gutters, Garden
Public Transportation, Shopping, Park, Medical Facility, Highway Access, House of Worship, Private School, Public School, University, Sidewalks
for Gas Range, for Electric Range
6
Building Details
Year Built
1897
Stories
4
Listing Agency:
Witman Properties, Inc.
Listed By:
Nelson Acosta
(413) 222-4199
Source:
Arborviewrealtyinc
Added: Jan 3
Changed: Aug 29
Last Checked: Apr 22 at 10:50AM
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 Witman Properties, Inc.
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Investment Insights
Based on property information with market context.
This 2,456-square-foot duplex, built in 1897, contains two residential units with matching layouts. Each unit offers three bedrooms, one full bathroom, and one half bathroom. The property has undergone renovations and updates, including newly installed gas central heating. Both units are vacant and ready for occupancy, with Lead Paint Compliance Letters in place.
Each residence has its own large driveway for off-street parking and a separate large fenced backyard. The property is located minutes from Springfield Technical Community College, the Springfield Museums, Springfield MGM, and Baystate Medical Center.
Each residence has its own large driveway for off-street parking and a separate large fenced backyard. The property is located minutes from Springfield Technical Community College, the Springfield Museums, Springfield MGM, and Baystate Medical Center.
Key Highlights
- Two‑unit duplex with 2,456 SF of property size
- Each unit includes 3 bedrooms, 1 full bath, and 1 half bath
- New gas central heating has been installed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,353
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$727,060
$727.1K
Cap Rate 7%
$519,329
$519.3K
Cap Rate 9%
$403,922
$403.9K
Market Conditions
NOI Build-Up for 2,456 SF
Gross rent
$54.5K $22.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$51.9K $21.15/SF
− OpEx
−$15.6K −$6.34/SF
NOI
$36.4K $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 Rate 5%
$727,060
Cap Rate 7%
$519,329
Cap Rate 9%
$403,922
Alternative Uses
Best Use
Multifamily LT 5
$519.3K
$454.4K – $605.9K
NOI $36,353 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$462.0K
$404.2K – $539.0K
NOI $32,338 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$666.9K
$583.6K – $778.1K
NOI $46,684 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 01105, MA
12,051
Population
5,554
Households
2.2
Avg Household Size
33
Median Age
8%
College-Educated
64%
High-School Grad
1.2 sq mi
ZIP Area
10,043
Density / Sq Mi
$22,994
Median Household Income
$24,078
Median Earnings
$976
Median Rent
$238,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant multifamily property with separate driveways, fenced outdoor areas, and newly installed gas central heating.
Where is this duplex located?
The property is located at 113-117 Cedar St Springfield, MA.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,456 SF of property size; Each unit includes 3 bedrooms, 1 full bath, and 1 half bath; New gas central heating has been installed
