Well-Maintained Duplex Ideal for
For Sale
$415,900
Pending
115-117 Northampton Avenue, Springfield, MA 01109
8-bedroom, 2-bathroom duplex with separate utilities and off-street parking.
Property Size2,902 SF
Days on Market182
Property Features for 115-117 Northampton Avenue
General Information
Standard status
Pending
Size
2,902 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1909
Listing Agency:
All The Marbles Realty,LLC
Listed By:
Carrie Saldo · License #9577362
(413) 510-1414
Source:
Foster-healey
Added: Mar 13
Changed: Aug 23
Last Checked: Sep 9 at 8:39PM
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 All The Marbles Realty,LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex features 8 bedrooms and two bathrooms, making it suitable for both owner-occupants and investors. The property includes architectural details such as coffered ceilings, hardwood floors, bay windows, built-in shelves, and pocket doors. The downstairs unit is ready for immediate occupancy. The upstairs unit is currently occupied by a tenant with a strong payment history, paying $2,200 monthly. Value-adds include a Letter of Full Deleading Compliance for both units, ample storage in the basement, separate utilities and washer/dryer hook-ups, off-street parking, and front, rear, and second-floor porches. A new roof is planned for April 2026, and the exterior and interior are scheduled to be freshly painted in the fall of 2025. The property is located within walking distance of Gunn Playground, Springfield College, American International College, and various restaurants and shops. It is also a short drive to Springfield Technical Community College and downtown Springfield. The property size is 2902 square feet.
Key Highlights
- New Roof (April 2026) and Freshly Painted Exterior & Interior (Fall 2025)
- Two‑unit duplex ideal for owner‑occupants or investors.
- Downstairs unit ready for immediate occupancy; upstairs unit has tenant with strong payment history ($2,200 monthly rent).
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
$38,211
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
9.19%
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%
$764,220
$764.2K
Cap Rate 7%
$545,871
$545.9K
Cap Rate 9%
$424,567
$424.6K
Market Conditions
NOI Build-Up for 2,902 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
$73.1K $25.20/SF
− Vacancy
−$3.7K −$1.26/SF
EGI
$69.5K $23.94/SF
− OpEx
−$31.3K −$10.77/SF
NOI
$38.2K $13.17/SF
Area
Springfield, MA
Vacancy
5.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$764,220
Cap Rate 7%
$545,871
Cap Rate 9%
$424,567
Alternative Uses
Best Use
Multifamily LT 5
$613.6K
$536.9K – $715.9K
NOI $42,955 @ 7.0% cap · market cap 10.33%
Second Best
Apartment 5plus
$545.9K
$477.6K – $636.9K
NOI $38,211 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$788.0K
$689.5K – $919.4K
NOI $55,161 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 01109, MA
30,968
Population
10,786
Households
2.9
Avg Household Size
30
Median Age
17%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
5,735
Density / Sq Mi
$46,821
Median Household Income
$34,971
Median Earnings
$1,112
Median Rent
$203,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - 8-bedroom, 2-bathroom duplex with separate utilities and off-street parking.
Where is this duplex located?
The property is located at 115-117 Northampton Avenue Springfield, MA.
What is the asking price?
The asking price for this property is $415,900.
What are key features of this property?
This property features: New Roof (April 2026) and Freshly Painted Exterior & Interior (Fall 2025); Two‑unit duplex ideal for owner‑occupants or investors.; Downstairs unit ready for immediate occupancy; upstairs unit has tenant with strong payment history ($2,200 monthly rent).
