Multifamily Property with
For Sale
$449,900
Pending
128 Hampden Street, West Springfield, MA 01089
Residentially zoned property with paved off-street parking and a range of installed appliances.
Property Size3,004 SF
Days on Market196
Property Features for 128 Hampden Street
General Information
Standard status
Pending
Size
3,004 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
RES
Net Operating Income
$53,324
Taxes and HOA fees
Annual Taxes
$3,825
Amenities
Park, Golf
Central Air, Ductless
Natural Gas, Forced Air, Steam, Ductless
Full
Range, Dishwasher, Refrigerator, Washer, Dryer, Gas Water Heater
Paved, Off Street
Building Details
Building Size
3,004 SF
Year Built
1900
Stories
3
Listing Agency:
Class Realty, Inc.
(413) 348-0950
Listed By:
Nikolay Yusenko · License #9035453
(413) 348-0950
Source:
Evrealestate
Added: Feb 17
Changed: Aug 30
Last Checked: Aug 31 at 3:34PM
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 Class Realty, Inc.
Investment Insights
Based on property information with market context.
This multifamily property is zoned RES and includes central air, ductless systems, and multiple heating options, including natural gas, forced air, steam, and ductless equipment. The property also features a full bath and comes with a range, dishwasher, refrigerator, washer, dryer, and gas water heater.
Exterior improvements include paved off-street parking. The property is located at 128 Hampden Street in West Springfield, with directions from South Boulevard to Hampden Street.
Exterior improvements include paved off-street parking. The property is located at 128 Hampden Street in West Springfield, with directions from South Boulevard to Hampden Street.
Key Highlights
- RES zoning
- Central air and ductless systems
- Natural gas, forced air, steam, and ductless heating
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
$36,463
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
8.10%
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%
$729,260
$729.3K
Cap Rate 7%
$520,900
$520.9K
Cap Rate 9%
$405,144
$405.1K
Market Conditions
NOI Build-Up for 3,004 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
$69.9K $23.28/SF
− Vacancy
−$3.6K −$1.21/SF
EGI
$66.3K $22.07/SF
− OpEx
−$29.8K −$9.93/SF
NOI
$36.5K $12.14/SF
Area
Hampden County, MA
Vacancy
5.20%
Lease Rate
$23.28 /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%
$729,260
Cap Rate 7%
$520,900
Cap Rate 9%
$405,144
Alternative Uses
Best Use
Apartment 5plus
$520.9K
$455.8K – $607.7K
NOI $36,463 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,600 @ 7.0% cap · market cap 28.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
711
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Residentially zoned property with paved off-street parking and a range of installed appliances.
Where is this multifamily property located?
The property is located at 128 Hampden Street West Springfield, MA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: RES zoning; Central air and ductless systems; Natural gas, forced air, steam, and ductless heating
