Updated Duplex with Private
New
For Sale
$379,900
104-106 Quincy St, Springfield, MA 01109
Two-unit property with one refreshed residence, one established tenancy, and separate basement space for each unit.
Property Size2,310 SF
Days on Market5
Property Features for 104-106 Quincy St
General Information
Standard status
Active
Size
2,310 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,978
Amenities
mini-split heating and cooling
in-unit washer/dryer hookups
garden space
Building Details
Building Size
2,310 SF
Year Built
2006
Buildings
1
Stories
4
Units
2
Listing Agency:
Coldwell Banker Realty - Western MA
(413) 374-2023
Listed By:
Angela M. Accorsi
(413) 374-2023
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 25 at 11:33AM
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.
Built in 2006, this two-unit property offers a combination of recent improvements and established occupancy. One residence is vacant and features new interior paint, luxury vinyl plank flooring, mini-split heating and cooling, and a new water heater. The other is occupied by a long-term tenant and has been maintained during the tenancy.
Each unit includes an open main-level arrangement for kitchen, dining, and living areas, plus pantry or storage space and a half bath. The upper level contains three bedrooms with closet space and a full bathroom with a shower/tub combination. Private full basements provide washer/dryer hookups and additional storage. The property also includes off-street parking for a minimum of four vehicles and garden space.
Located at 104-106 Quincy St in Springfield, the property has a Walk Score of 81, a Transit Score of 58, and a Bike Score of 39.
Each unit includes an open main-level arrangement for kitchen, dining, and living areas, plus pantry or storage space and a half bath. The upper level contains three bedrooms with closet space and a full bathroom with a shower/tub combination. Private full basements provide washer/dryer hookups and additional storage. The property also includes off-street parking for a minimum of four vehicles and garden space.
Located at 104-106 Quincy St in Springfield, the property has a Walk Score of 81, a Transit Score of 58, and a Bike Score of 39.
Key Highlights
- 2006‑built duplex at 104‑106 Quincy St, Springfield, MA 01109
- One vacant unit with fresh paint, luxury vinyl plank flooring, mini‑split HVAC, and a new water heater
- Second unit occupied by a long‑term tenant
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
$34,192
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
9.00%
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%
$683,840
$683.8K
Cap Rate 7%
$488,457
$488.5K
Cap Rate 9%
$379,911
$379.9K
Market Conditions
NOI Build-Up for 2,310 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
$51.3K $22.20/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$48.8K $21.15/SF
− OpEx
−$14.7K −$6.34/SF
NOI
$34.2K $14.80/SF
Area
Springfield, MA
Vacancy
4.75%
Lease Rate
$22.20 /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%
$683,840
Cap Rate 7%
$488,457
Cap Rate 9%
$379,911
Alternative Uses
Best Use
Multifamily LT 5
$488.5K
$427.4K – $569.9K
NOI $34,192 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$434.5K
$380.2K – $506.9K
NOI $30,416 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$627.3K
$548.9K – $731.8K
NOI $43,908 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 01109, MA
30,968
Population
10,786
Households
2.9
Avg Household Size
30
Median Age
17%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
5,735
Density / Sq Mi
$46,821
Median Household Income
$34,971
Median Earnings
$1,112
Median Rent
$203,100
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 - Two-unit property with one refreshed residence, one established tenancy, and separate basement space for each unit.
Where is this duplex located?
The property is located at 104-106 Quincy St Springfield, MA.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 2006‑built duplex at 104‑106 Quincy St, Springfield, MA 01109; One vacant unit with fresh paint, luxury vinyl plank flooring, mini‑split HVAC, and a new water heater; Second unit occupied by a long‑term tenant
