Duplex with Separate
For Sale
$419,900
1144-1146 Page Blvd, Springfield, MA 01104
Updated two-unit property with a finished basement, off-street parking, and one occupied unit.
Property Size1,764 SF
Days on Market10
Property Features for 1144-1146 Page Blvd
General Information
Standard status
Active
Size
1,764 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,845
Building Details
Building Size
1,764 SF
Year Built
1986
Stories
4
Units
2
Listing Agency:
Executive Real Estate, Inc.
Listed By:
Nunley Group
(413) 364-2160
Source:
Elliman
Added: Sep 18
Changed: Sep 22
Last Checked: Sep 26 at 8:31AM
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 Executive Real Estate, Inc.
Investment Insights
Based on property information with market context.
This duplex at 1144-1146 Page Blvd includes separate entrances, a full basement, and off-street parking for up to four vehicles. One unit provides 2 bedrooms and 1 full bathroom. The right-side unit has a new kitchen with stainless steel appliances, a renovated bathroom, new flooring, fresh paint, recessed lighting, and a new hot water heater. The left-side unit is currently rented.
Built in 1986, the property is located in East Springfield with access to shopping, restaurants, schools, and major routes. The two-unit configuration supports an owner-occupant arrangement or continued use as a residential income property.
Built in 1986, the property is located in East Springfield with access to shopping, restaurants, schools, and major routes. The two-unit configuration supports an owner-occupant arrangement or continued use as a residential income property.
Key Highlights
- Two‑unit duplex with separate entrances
- Right‑side unit includes a brand‑new kitchen and stainless steel appliances
- Renovated bathroom, new flooring, fresh paint, and recessed lighting
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
$26,110
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
6.22%
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%
$522,200
$522.2K
Cap Rate 7%
$373,000
$373.0K
Cap Rate 9%
$290,111
$290.1K
Market Conditions
NOI Build-Up for 1,764 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
$39.2K $22.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$37.3K $21.15/SF
− OpEx
−$11.2K −$6.34/SF
NOI
$26.1K $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%
$522,200
Cap Rate 7%
$373,000
Cap Rate 9%
$290,111
Alternative Uses
Best Use
Multifamily LT 5
$373.0K
$326.4K – $435.2K
NOI $26,110 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$331.8K
$290.3K – $387.1K
NOI $23,227 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$479.0K
$419.1K – $558.8K
NOI $33,530 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
337
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 - Updated two-unit property with a finished basement, off-street parking, and one occupied unit.
Where is this duplex located?
The property is located at 1144-1146 Page Blvd Springfield, MA.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Two‑unit duplex with separate entrances; Right‑side unit includes a brand‑new kitchen and stainless steel appliances; Renovated bathroom, new flooring, fresh paint, and recessed lighting
