Renovated Duplex with Detached
For Sale
$535,000
282 White St, Springfield, MA 01108
Vacant, updated two-family home with off-street parking and a detached garage.
Property Size3,560 SF
Price / SF$150.28
Days on Market47
Property Features for 282 White St
General Information
Standard status
Active
Size
3,560 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
rear porches
Building Details
Year Built
1905
Buildings
1
Listing Agency:
Rachel Lomba, Lomba Realty Group, Inc
(617) 609-8894
Listed By:
Hillman Homes
(617) 609-8894
Source:
Hillmanhomesma
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 29 at 8:55AM
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 Rachel Lomba, Lomba Realty Group, Inc
Investment Insights
Based on property information with market context.
This 3,560-square-foot duplex, built in 1905, has been renovated for immediate occupancy. The property includes two legal residential units and a finished third-floor addition with three bedrooms, a dining area, and a full bathroom with a stand-up shower; the addition does not create a legal third unit. Improvements include new kitchens, refreshed bathrooms, new flooring, interior paint, updated electrical and plumbing, replacement windows, and expanded closet storage.
Two New Yorker gas boilers, new water and gas meters, rear porches, and a roof installed in 2025 add to the building’s recent updates. A shared driveway leads to a detached two-car garage, with additional off-street parking at the rear of the property. The home is offered vacant and ready for occupancy.
Two New Yorker gas boilers, new water and gas meters, rear porches, and a roof installed in 2025 add to the building’s recent updates. A shared driveway leads to a detached two-car garage, with additional off-street parking at the rear of the property. The home is offered vacant and ready for occupancy.
Key Highlights
- Legal two‑family duplex with 3,560 SF
- Finished third‑floor addition with 3 bedrooms, dining area, and full bath
- New roof installed in 2025
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
$46,875
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
8.76%
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%
$937,500
$937.5K
Cap Rate 7%
$669,643
$669.6K
Cap Rate 9%
$520,833
$520.8K
Market Conditions
NOI Build-Up for 3,560 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
$89.7K $25.20/SF
− Vacancy
−$4.5K −$1.26/SF
EGI
$85.2K $23.94/SF
− OpEx
−$38.4K −$10.77/SF
NOI
$46.9K $13.17/SF
Area
Springfield, MA
Vacancy
5.00%
Lease Rate
$25.20 /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%
$937,500
Cap Rate 7%
$669,643
Cap Rate 9%
$520,833
Alternative Uses
Best Use
Multifamily LT 5
$752.8K
$658.7K – $878.3K
NOI $52,695 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$669.6K
$585.9K – $781.3K
NOI $46,875 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$966.7K
$845.9K – $1.13M
NOI $67,668 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
Explore this area
Business Placement
Demographics for 01108, MA
27,671
Population
11,332
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
81%
High-School Grad
3.4 sq mi
ZIP Area
8,139
Density / Sq Mi
$51,851
Median Household Income
$34,539
Median Earnings
$1,224
Median Rent
$219,500
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 - Vacant, updated two-family home with off-street parking and a detached garage.
Where is this duplex located?
The property is located at 282 White St Springfield, MA.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Legal two‑family duplex with 3,560 SF; Finished third‑floor addition with 3 bedrooms, dining area, and full bath; New roof installed in 2025
