Two-Family Residential Income
117-119 Draper Street Springfield, MA 01108
117-119 Draper Street, Springfield, MA, 01108
$415,000
For Sale
$415,000
Two-unit duplex with separate living, dining, and kitchen areas, hardwood flooring, and enclosed porch spaces.
Property Size2,600 SF
Price / SF$159.62
Days on Market99
Property Features for 117-119 Draper Street
General Information
- Standard status
- Active
- Size
- 2,600 SF
- Property subtype
- Multi-family / 2 Family
Building Details
- Year Built
- 1925
Listing Agency
Property Investors & Advisors, LLC
(774) 413-0272
Listed by
Olotu J. Wariebi · License #9578131
(774) 413-0272
Source
Compass
Added: Apr 14 Updated: Jul 20 at 4:35 pm Checked: Jul 20 at 4:35 pm
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 Property Investors & Advisors, LLC
Investment Insights
Based on property information with market context.
This fully occupied two-family duplex offers two generously sized units with separate living rooms, dining rooms, and kitchens featuring hardwood flooring. Each unit includes two entrances, including a private entrance, and the layout provides distinct interior space rather than shared rooms. The first-floor unit opens to a front porch, while the second-floor unit has a side entrance and an enclosed porch off the living room. Out back, there is a fully fenced yard.
The property is listed for sale in the Forest Park neighborhood and has an exterior of vinyl siding with updated windows. Separate mechanical systems include two independent oil boilers and two gas hot water tanks, one per unit, supporting streamlined unit-level utility management.
Overall, the configuration is built around two self-contained residences with dedicated entry points, multiple porch areas for everyday use, and yard space for the occupants.
The property is listed for sale in the Forest Park neighborhood and has an exterior of vinyl siding with updated windows. Separate mechanical systems include two independent oil boilers and two gas hot water tanks, one per unit, supporting streamlined unit-level utility management.
Overall, the configuration is built around two self-contained residences with dedicated entry points, multiple porch areas for everyday use, and yard space for the occupants.
Key Highlights
- Two‑family duplex built in 1925 with 2 total full baths
- Each unit features separate living room, dining room, and kitchen areas
- Hardwood flooring plus vinyl/VCT and wood flooring throughout the units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.5k | $25.20 |
| − Vacancy | −$3.3k | −$1.26 |
| EGI | $62.2k | $23.94 |
| − OpEx | −$28.0k | −$10.77 |
| NOI | $34.2k | $13.17 |
2,600 SF · lease $25.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$549.8K
$481.1K – $641.4K
NOI $38,485 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$489.1K
$427.9K – $570.6K
NOI $34,234 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$706.0K
$617.8K – $823.7K
NOI $49,421 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex with separate living, dining, and kitchen areas, hardwood flooring, and enclosed porch spaces.
Where is this duplex located?
The property is located at 117-119 Draper Street Springfield, MA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two‑family duplex built in 1925 with 2 total full baths; Each unit features separate living room, dining room, and kitchen areas; Hardwood flooring plus vinyl/VCT and wood flooring throughout the units
