Duplex with Expansion
New
For Sale
$310,000
172 Quincy St., Springfield, MA 01109
R2-zoned duplex with two residential units and additional finished space across the upper levels.
Property Size2,130 SF
Days on Market5
Property Features for 172 Quincy St.
General Information
Standard status
Active
Size
2,130 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
R2
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,254
Amenities
washer/dryer hookups
Building Details
Building Size
2,130 SF
Year Built
1898
Stories
3
Units
2
Listing Agency:
Real Broker MA, LLC
(413) 213-3472
Listed By:
Team Rovi
(413) 213-3472
Source:
Startpoint
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 1:48PM
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 Real Broker MA, LLC
Investment Insights
Based on property information with market context.
Built in 1898, this R2-zoned duplex contains two separate residential units, each configured with three bedrooms and six total rooms. Finished rooms on the third floor add usable space along with a full bathroom, while the basement provides another bathroom, laundry hookups, gas heating systems, and updated circuit breaker panels. Vinyl siding contributes to a durable exterior envelope.
The property is located at 172 Quincy St. in Springfield’s Hill/McKnight neighborhood, with access to Downtown Springfield, MGM Springfield Resort & Casino, I-91, and I-290. Public transit, dining, retail, and community parks are also identified in the surrounding area.
The property is located at 172 Quincy St. in Springfield’s Hill/McKnight neighborhood, with access to Downtown Springfield, MGM Springfield Resort & Casino, I-91, and I-290. Public transit, dining, retail, and community parks are also identified in the surrounding area.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 6 total rooms per unit
- Finished third‑floor rooms with an additional full bathroom
- Basement includes a full bathroom and washer/dryer hookups
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
$28,046
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
9.05%
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%
$560,920
$560.9K
Cap Rate 7%
$400,657
$400.7K
Cap Rate 9%
$311,622
$311.6K
Market Conditions
NOI Build-Up for 2,130 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
$53.7K $25.20/SF
− Vacancy
−$2.7K −$1.26/SF
EGI
$51.0K $23.94/SF
− OpEx
−$22.9K −$10.77/SF
NOI
$28.0K $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%
$560,920
Cap Rate 7%
$400,657
Cap Rate 9%
$311,622
Alternative Uses
Best Use
Multifamily LT 5
$450.4K
$394.1K – $525.5K
NOI $31,528 @ 7.0% cap · market cap 10.17%
Second Best
Apartment 5plus
$400.7K
$350.6K – $467.4K
NOI $28,046 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$578.4K
$506.1K – $674.8K
NOI $40,487 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
Explore this area
Business Placement
Demographics for 01109, MA
30,968
Population
10,786
Households
2.9
Avg Household Size
30
Median Age
17%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
5,735
Density / Sq Mi
$46,821
Median Household Income
$34,971
Median Earnings
$1,112
Median Rent
$203,100
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 - R2-zoned duplex with two residential units and additional finished space across the upper levels.
Where is this duplex located?
The property is located at 172 Quincy St. Springfield, MA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 6 total rooms per unit; Finished third‑floor rooms with an additional full bathroom; Basement includes a full bathroom and washer/dryer hookups
