2-Unit Duplex with
New
For Sale
$509,900
17 Spring St, Chicopee, MA 01013
One residence has three bedrooms, while the other adds a finished third floor, balcony, and second full bathroom.
Property Size2,386 SF
Price / SF$213.70
Days on Market2
Property Features for 17 Spring St
General Information
Standard status
Active
Size
2,386 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
1
Net Operating Income
$38,400
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,692
Building Details
Building Size
2,386 SF
Year Built
1890
Buildings
1
Stories
3
Listing Agency:
Fathom Realty
Listed By:
Marvin Council · License #9534957
(888) 455-6040
Source:
Laerrealty
Added: Oct 4
Last Checked: Oct 4 at 6:24AM
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 Fathom Realty
Investment Insights
Based on property information with market context.
This 2,386-square-foot duplex, built in 1890, contains two distinct living units. One offers three bedrooms, a modern bathroom, stainless steel appliances, custom cabinetry, and single-level living. The other includes comparable finishes, plus a finished third floor with vaulted ceilings, a second full bathroom, a balcony, and additional storage. A four-car garage provides substantial vehicle storage.
The upper unit’s finished third-floor area adds a flexible interior space, while the property’s two-unit configuration accommodates a range of residential arrangements. Zoning is listed as 1.
The upper unit’s finished third-floor area adds a flexible interior space, while the property’s two-unit configuration accommodates a range of residential arrangements. Zoning is listed as 1.
Key Highlights
- 2,386‑square‑foot duplex built in 1890
- Two residential units
- Four‑car garage
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
$31,251
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
6.13%
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%
$625,020
$625.0K
Cap Rate 7%
$446,443
$446.4K
Cap Rate 9%
$347,233
$347.2K
Market Conditions
NOI Build-Up for 2,386 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
$47.2K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$44.6K $18.71/SF
− OpEx
−$13.4K −$5.61/SF
NOI
$31.3K $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 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%
$625,020
Cap Rate 7%
$446,443
Cap Rate 9%
$347,233
Alternative Uses
Best Use
Multifamily LT 5
$446.4K
$390.6K – $520.9K
NOI $31,251 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$413.7K
$362.0K – $482.7K
NOI $28,962 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $102,938 @ 7.0% cap · market cap 20.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
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Business Placement
Demographics for 01013, MA
23,656
Population
10,309
Households
2.3
Avg Household Size
38
Median Age
23%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
4,150
Density / Sq Mi
$64,039
Median Household Income
$45,268
Median Earnings
$1,005
Median Rent
$249,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - One residence has three bedrooms, while the other adds a finished third floor, balcony, and second full bathroom.
Where is this duplex located?
The property is located at 17 Spring St Chicopee, MA.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: 2,386‑square‑foot duplex built in 1890; Two residential units; Four‑car garage
