Duplex with Two-Car
For Sale
$399,900
Pending
17-19 Howes St, Springfield, MA 01118
Residential Income, Springfield, MA
Property Size2,612 SF
Lot Size0.11 Acres
Days on Market51
Property Features for 17-19 Howes St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
Parking
8
Fireplace
1
Elementary school
Per Board Of Ed
Middle school
Per Board Of Ed
High school
Per Board Of Ed
Directions
GPS Friendly. Off of Sumner Ave.
Subdivision
East Forest Park
Standard status
Pending
APN
S:06806 P:0031,2588971
Size
2,612 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4732
Amenities
backyard deck
basement storage
Building Details
Year built
1929
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty
(413) 565-5478
Listed By:
Laura Stevens
(413) 565-5478
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 29 at 1:06AM
MLS# 73548179
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1929, this R1-zoned duplex contains 2,612 square feet with five bedrooms and two bathrooms. The upper residence is vacant and includes three bedrooms, a recently remodeled bathroom with a walk-in shower, walk-up attic access, and a loft area. A storage unit on the first floor adds useful household space.
The other unit has been occupied by the same tenants for more than 15 years, and they are interested in remaining. Shared amenities include a full basement with separate storage areas, a two-car carport, and a backyard deck. The property also includes a 0.1148-acre lot and a fireplace.
The other unit has been occupied by the same tenants for more than 15 years, and they are interested in remaining. Shared amenities include a full basement with separate storage areas, a two-car carport, and a backyard deck. The property also includes a 0.1148-acre lot and a fireplace.
Key Highlights
- 2,612‑square‑foot duplex built in 1929
- Upper unit is vacant and configured with 3 bedrooms
- Occupied unit has had tenants for over 15 years
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
$34,392
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
8.60%
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%
$687,840
$687.8K
Cap Rate 7%
$491,314
$491.3K
Cap Rate 9%
$382,133
$382.1K
Market Conditions
NOI Build-Up for 2,612 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
$65.8K $25.20/SF
− Vacancy
−$3.3K −$1.26/SF
EGI
$62.5K $23.94/SF
− OpEx
−$28.1K −$10.77/SF
NOI
$34.4K $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%
$687,840
Cap Rate 7%
$491,314
Cap Rate 9%
$382,133
Alternative Uses
Best Use
Multifamily LT 5
$552.3K
$483.3K – $644.4K
NOI $38,662 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$491.3K
$429.9K – $573.2K
NOI $34,392 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$709.3K
$620.6K – $827.5K
NOI $49,649 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 01118, MA
14,296
Population
5,787
Households
2.5
Avg Household Size
40
Median Age
30%
College-Educated
91%
High-School Grad
3.6 sq mi
ZIP Area
3,971
Density / Sq Mi
$80,906
Median Household Income
$48,486
Median Earnings
$1,220
Median Rent
$243,800
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 - Two-unit property with one occupied residence and a vacant three-bedroom upper-level unit.
Where is this duplex located?
The property is located at 17-19 Howes St Springfield, 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: 2,612‑square‑foot duplex built in 1929; Upper unit is vacant and configured with 3 bedrooms; Occupied unit has had tenants for over 15 years
