Springfield Two-Family Home with
540-542 Union St Springfield, MA 01109
540-542 Union St, Springfield, MA, 01109
$369,900
For Sale
$369,900
Updated two-family home in Springfield, move-in ready and spacious.
Property Size1,920 SF
Lot Size0.38 Acres
Price / SF$192.66
Days on Market90
Property Features for 540-542 Union St
General Information
- Standard status
- Active
- Size
- 1,920 SF
- Lot size
- 0.38 Acres
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1988
Listing agency
Coldwell Banker Realty - Western MA
(413) 221-4600
Listed by
Roger Trombly · License #26208
(413) 221-4600
Source
Alliancepartnersre
Added: Apr 23 Updated: Jul 10 at 1:19PM Checked: Jul 17 at 9:05AM
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 Coldwell Banker Realty - Western MA
Investment Insights
Based on property information with market context.
Located in Springfield, MA, the property at 540-542 Union St is a two-family residence constructed in 1988. Each floor contains three bedrooms. The first-floor apartment has been extensively remodeled, featuring new replacement windows and mini-split systems that provide air conditioning. The kitchen and bath have been newly redecorated. The second-floor apartment requires cosmetic work, including new flooring and paint. The property includes a 16518 sq ft lot that offers expansion possibilities, such as an Additional Dwelling Unit (ADU), and provides ample parking space. The building features gas heat and updated wiring. It is a modern two-family home with no lead paint issues.
Key Highlights
- Remodeled first‑floor apartment with new windows, mini‑split AC, kitchen, and bath.
- Large 16518 sq ft lot with potential for expansion (ADU) and ample parking.
- Modern two‑family built in 1988 with gas heat and updated wiring.
Local Financial Insights For Multifamily LT 5
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 | $42.6k | $22.20 |
| − Vacancy | −$2.0k | −$1.05 |
| EGI | $40.6k | $21.15 |
| − OpEx | −$12.2k | −$6.34 |
| NOI | $28.4k | $14.80 |
1,920 SF · lease $22.20/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$406.0K
$355.3K – $473.7K
NOI $28,420 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$361.2K
$316.0K – $421.4K
NOI $25,281 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Updated two-family home in Springfield, move-in ready and spacious.
Where is this duplex located?
The property is located at 540-542 Union St Springfield, MA.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Remodeled first‑floor apartment with new windows, mini‑split AC, kitchen, and bath.; Large 16518 sq ft lot with potential for expansion (ADU) and ample parking.; Modern two‑family built in 1988 with gas heat and updated wiring.
