Renovated Two-Family
For Sale
$465,000
Pending
161 New Bridge Street, West Springfield, MA 01089
Renovated, vinyl-sided two-family with a newer roof and updated kitchens, plumbing, electrical, and bathrooms.
Property Size2,125 SF
Days on Market38
Property Features for 161 New Bridge Street
General Information
Standard status
Pending
Size
2,125 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Zoning
BA
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,101
Building Details
Building Size
2,125 SF
Year Built
1880
Stories
3
Units
2
Listing Agency:
Kelley & Katzer Real Estate, LLC
(413) 209-9933
Listed By:
Kelley & Katzer Team
(413) 209-9933
Source:
Liongatere
Added: Jul 19
Changed: Aug 24
Last Checked: Aug 3 at 5:58AM
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 Kelley & Katzer Real Estate, LLC
Investment Insights
Based on property information with market context.
This de-leaded, renovated vinyl-sided two-family duplex sits on a fenced yard. As described by the seller, the property includes a newer roof for the house and numerous updates throughout.
The first-floor apartment features a large, sun-filled living room with wood floors, a modern kitchen with white cabinets and stainless appliances, and an updated bathroom. It offers three bedrooms with roomy closets.
The second-floor apartment spans two levels and includes a kitchen with stainless appliances and a large living room, along with an updated bathroom and multiple bedrooms across the upper levels, including two bedrooms on the second-floor unit area and two additional bedrooms on the third-floor portion.
The first-floor apartment features a large, sun-filled living room with wood floors, a modern kitchen with white cabinets and stainless appliances, and an updated bathroom. It offers three bedrooms with roomy closets.
The second-floor apartment spans two levels and includes a kitchen with stainless appliances and a large living room, along with an updated bathroom and multiple bedrooms across the upper levels, including two bedrooms on the second-floor unit area and two additional bedrooms on the third-floor portion.
Key Highlights
- Renovated, vinyl‑sided 2‑family built in 1880 with a newer roof (on the house).
- Recent updates include updated plumbing, updated electrical, and renovated bathrooms.
- 1st‑floor unit features a sun‑filled living room with wood floors, a modern kitchen with white cabinets and stainless appliances, and 3 bedrooms with roomy closets.
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
$27,833
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
5.99%
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%
$556,660
$556.7K
Cap Rate 7%
$397,614
$397.6K
Cap Rate 9%
$309,256
$309.3K
Market Conditions
NOI Build-Up for 2,125 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
$42.1K $19.80/SF
− Vacancy
−$2.3K −$1.09/SF
EGI
$39.8K $18.71/SF
− OpEx
−$11.9K −$5.61/SF
NOI
$27.8K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$556,660
Cap Rate 7%
$397,614
Cap Rate 9%
$309,256
Alternative Uses
Best Use
Multifamily LT 5
$397.6K
$347.9K – $463.9K
NOI $27,833 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$368.5K
$322.4K – $429.9K
NOI $25,794 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,678 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,465
Businesses Nearby
Explore this area
Business Placement
Demographics for 01089, MA
28,835
Population
13,095
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
91%
High-School Grad
16.7 sq mi
ZIP Area
1,727
Density / Sq Mi
$70,401
Median Household Income
$43,186
Median Earnings
$1,121
Median Rent
$307,900
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 - Renovated, vinyl-sided two-family with a newer roof and updated kitchens, plumbing, electrical, and bathrooms.
Where is this duplex located?
The property is located at 161 New Bridge Street West Springfield, MA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Renovated, vinyl‑sided 2‑family built in 1880 with a newer roof (on the house).; Recent updates include updated plumbing, updated electrical, and renovated bathrooms.; 1st‑floor unit features a sun‑filled living room with wood floors, a modern kitchen with white cabinets and stainless appliances, and 3 bedrooms with roomy closets.
