Two-Unit Duplex with
140-142 Bourne Street, Palmer, MA 01080
For Sale
New
$399,900
Both residences include private decks and finished basement space, with one unit vacant and the other occupied by a long-term tenant.
Property Size1,614 SF
Lot Size1.38 Acres
Price / SF$247.77
Days on Market4
Property Features for 140-142 Bourne Street
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Ceiling Fan(s)
Bathroom With Tub
Living Room
Kitchen
Laundry Room
Office/Den
Building Details
Building Size
Year Built
Stories
Units
Construction
Listing Agency:
Grace Group Realty, LLC
(413) 547-6555
Listed By:
Heather A. Goncalves
(413) 374-8197
Source:
Clementsrealty
Added: Nov 6
Changed: Nov 7
Last Checked: Nov 8 at 2:21PM
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 Grace Group Realty, LLC
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Investment Insights
Based on property information with market context.
This 1988 duplex in Palmer contains two matching residences, each with 2–3 bedrooms, 1.5 baths, an eat-in kitchen, and a living room. Finished basement areas provide a den or bedroom, half bath, laundry space, and utility or storage room. Each side also has a private deck and a 16' x 26' garage. Unit 140 is vacant and includes laminate flooring and newer appliances; Unit 142 has a long-term tenant who wishes to stay.
The property occupies a 1.38-acre lot on Bourne Street, with conservation land along the front, rear, and side boundaries. Zoning is TR. The property is being sold in AS-IS condition.
The property occupies a 1.38-acre lot on Bourne Street, with conservation land along the front, rear, and side boundaries. Zoning is TR. The property is being sold in AS-IS condition.
Key Highlights
- Two‑unit duplex built in 1988
- 1.38‑acre lot with conservation land along the front, rear, and side
- Each residence has 2–3 bedrooms, 1.5 baths, a private deck, and a finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,140
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,800
$422.8K
Cap Rate 7%
$302,000
$302.0K
Cap Rate 9%
$234,889
$234.9K
Market Conditions
NOI Build-Up for 1,614 SF
Gross rent
$32.0K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.2K $18.71/SF
− OpEx
−$9.1K −$5.61/SF
NOI
$21.1K $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 Rate 5%
$422,800
Cap Rate 7%
$302,000
Cap Rate 9%
$234,889
Alternative Uses
Best Use
Multifamily LT 5
$302.0K
$264.3K – $352.3K
NOI $21,140 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$279.9K
$244.9K – $326.5K
NOI $19,591 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$994.7K
$870.4K – $1.16M
NOI $69,632 @ 7.0% cap · market cap 17.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 01080, MA
2,400
Population
1,097
Households
2.2
Avg Household Size
41
Median Age
17%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
1,412
Density / Sq Mi
$87,188
Median Household Income
$47,616
Median Earnings
$1,115
Median Rent
$254,800
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Hampden County, MA
Properties on Market for Duplexes in Hampden County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include private decks and finished basement space, with one unit vacant and the other occupied by a long-term tenant.
Where is this duplex located?
The property is located at 140-142 Bourne Street Palmer, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1988; 1.38‑acre lot with conservation land along the front, rear, and side; Each residence has 2–3 bedrooms, 1.5 baths, a private deck, and a finished basement
