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    22-24 Westminster St Springfield, MA 01109

    For Sale
    $349,900

    Duplex with solar panels, long-term tenants, and owner-occupied potential.

    Lot size:
    0.11 Acres

    Property Features for 22-24 Westminster St

    General Information

    Lot size
    0.11 Acres

    Building Details

    Year built
    1988

    Source: Jorge Andres Zea Agent Jorge Andres Zea

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Well-Maintained Duplex with Solar Panels

    This well-maintained duplex, constructed in 1988, features a total of 7 bedrooms and 2.5 bathrooms. A new roof and a fully paid-off solar panel system were installed in 2023, significantly reducing heating and electric costs. The property has been owner-occupied for over 20 years, reflecting consistent upkeep. The owner's unit, spanning the second and third floors, offers a spacious 4-bedroom, 1.5-bathroom layout. The second floor includes a living room, kitchen, 2 bedrooms, and a full bathroom. The third floor contains 2 additional bedrooms and a half bathroom. The rental unit has had stable tenancy with the same renters for 20 years and is currently rented at $900 per month, suggesting potential for increased rental income. The property presents an investment opportunity, combining the stability of long-term tenants with the growth potential of the local market. The solar installation offers immediate cost savings and enhances the property's value.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Hampden
    State
    Massachusetts
    Longitude
    -72.5685965
    Latitude
    42.1110632

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    FAQs

    What type of property is this?
    Duplex - Duplex with solar panels, long-term tenants, and owner-occupied potential.
    Where is this duplex located?
    The property is located at 22-24 Westminster St Springfield, MA.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: - New roof and fully paid-off solar panel system installed in 2023 practically eliminates heating and electric costs.; - Stable rental unit with long-term tenants currently rented at $900/month with significant upside potential.; - Spacious 4-bedroom, 1.5-bathroom owner's unit (2nd & 3rd floors).
    (855) 550-0528
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    22-24 Westminster St Springfield, MA 01109
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    Springfield, MA 01109
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    22-24 Westminster St Springfield, MA 01109
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