Remodeled Two-Family
For Sale
$360,999
156-158 Santa Barbara Street, Springfield, MA 01104
Updated duplex with separately metered units, off-street parking, and one residence scheduled for vacancy at closing.
Property Size1,776 SF
Price / SF$203.27
Days on Market25
Property Features for 156-158 Santa Barbara Street
General Information
Standard status
Active
Size
1,776 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1968
Buildings
1
Listing Agency:
Lock and Key Realty Inc.
Listed By:
Raquel Medina · License #452517647
(413) 218-3272
Source:
Gregoryhaughton
Added: Sep 11
Changed: Oct 4
Last Checked: Oct 4 at 9:43AM
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 Lock and Key Realty Inc.
Investment Insights
Based on property information with market context.
This two-family property in Springfield contains 1,776 square feet and was built in 1968. Both residences have undergone extensive interior updates, creating refreshed living spaces for occupants or tenants. One unit is expected to be vacant at closing, while the other remains available for occupancy under the existing arrangement.
Each unit has its own meter, and the property includes off-street parking. The address provides access to major highways and the Massachusetts Turnpike, supporting travel throughout Western Massachusetts and beyond.
Each unit has its own meter, and the property includes off-street parking. The address provides access to major highways and the Massachusetts Turnpike, supporting travel throughout Western Massachusetts and beyond.
Key Highlights
- Two‑family duplex with 1,776 square feet
- Built in 1968 and remodeled throughout
- One unit to be delivered vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,288
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$525,760
$525.8K
Cap Rate 7%
$375,543
$375.5K
Cap Rate 9%
$292,089
$292.1K
Market Conditions
NOI Build-Up for 1,776 SF
Gross rent
$39.4K $22.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$37.6K $21.15/SF
− OpEx
−$11.3K −$6.34/SF
NOI
$26.3K $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 Rate 5%
$525,760
Cap Rate 7%
$375,543
Cap Rate 9%
$292,089
Alternative Uses
Best Use
Multifamily LT 5
$375.5K
$328.6K – $438.1K
NOI $26,288 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$334.1K
$292.3K – $389.8K
NOI $23,385 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$482.3K
$422.0K – $562.6K
NOI $33,758 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Explore this area
Business Placement
Demographics for 01104, MA
23,598
Population
9,562
Households
2.5
Avg Household Size
38
Median Age
13%
College-Educated
77%
High-School Grad
5.2 sq mi
ZIP Area
4,538
Density / Sq Mi
$47,530
Median Household Income
$37,463
Median Earnings
$1,004
Median Rent
$210,800
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 - Updated duplex with separately metered units, off-street parking, and one residence scheduled for vacancy at closing.
Where is this duplex located?
The property is located at 156-158 Santa Barbara Street Springfield, MA.
What is the asking price?
The asking price for this property is $360,999.
What are key features of this property?
This property features: Two‑family duplex with 1,776 square feet; Built in 1968 and remodeled throughout; One unit to be delivered vacant at closing
