Vacant Two-Family
For Sale
$439,900
15 Warriner Ave, Springfield, MA 01108
Both units are vacant, with recent mechanical, window, and fencing improvements completed.
Property Size2,844 SF
Price / SF$154.68
Days on Market23
Property Features for 15 Warriner Ave
General Information
Standard status
Active
Size
2,844 SF
Property subtype
2 Family - 2 Units Up/Down
Building Details
Year Built
1890
Listing Agency:
Century 21 North East
(978) 423-6545
Listed By:
Fermin Group
(978) 423-6545
Source:
Lockandkeyre
Added: Jul 29
Changed: Aug 19
Last Checked: Aug 20 at 5:29AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This two-family duplex at 15 Warriner Ave includes 2,844 square feet and was built in 1890. Both units will be delivered vacant, allowing the next owner to occupy one unit, use the property for multigenerational living, or establish a rental arrangement. The property also carries a Letter of Full Deleading Compliance.
Recent work includes installation of a white vinyl privacy fence, two new hot water tanks, professional servicing of both boilers with replacement parts, and replacement of all basement windows. The property is near shopping, restaurants, parks, schools, and major highways in Springfield, Massachusetts.
Recent work includes installation of a white vinyl privacy fence, two new hot water tanks, professional servicing of both boilers with replacement parts, and replacement of all basement windows. The property is near shopping, restaurants, parks, schools, and major highways in Springfield, Massachusetts.
Key Highlights
- Two‑family duplex with 2,844 square feet
- Both units delivered vacant
- Letter of Full Deleading Compliance
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
$37,447
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
8.51%
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%
$748,940
$748.9K
Cap Rate 7%
$534,957
$535.0K
Cap Rate 9%
$416,078
$416.1K
Market Conditions
NOI Build-Up for 2,844 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
$71.7K $25.20/SF
− Vacancy
−$3.6K −$1.26/SF
EGI
$68.1K $23.94/SF
− OpEx
−$30.6K −$10.77/SF
NOI
$37.4K $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%
$748,940
Cap Rate 7%
$534,957
Cap Rate 9%
$416,078
Alternative Uses
Best Use
Multifamily LT 5
$601.4K
$526.2K – $701.6K
NOI $42,096 @ 7.0% cap · market cap 9.57%
Second Best
Apartment 5plus
$535.0K
$468.1K – $624.1K
NOI $37,447 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$772.3K
$675.7K – $901.0K
NOI $54,059 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,137
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 - Both units are vacant, with recent mechanical, window, and fencing improvements completed.
Where is this duplex located?
The property is located at 15 Warriner Ave Springfield, MA.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Two‑family duplex with 2,844 square feet; Both units delivered vacant; Letter of Full Deleading Compliance
