Two-Family Home with Carriage
173-177 Madison Ave Holyoke, MA 01040
For Sale
$699,000
Renovated 2021 duplex with fenced backyard and carriage house garage plus separate entrance and full second floor.
Property Size3,477 SF
Price / SF$201.04
Days on Market52
Property Features for 173-177 Madison Ave
General Information
- Standard status
- Active
- Size
- 3,477 SF
- Property subtype
- 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1910
Listing Agency:
5 College REALTORS
(413) 687-2710
Listed By:
Gregory Haughton · License #452506633
(413) 687-2710
Source:
Lockandkeyre
Added: Jun 5
Changed: Jul 10
Last Checked: Jul 26 at 2:10PM
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 5 College REALTORS
Investment Insights
Based on property information with market context.
This fully renovated two-family home was completely redesigned in 2021, down to the studs. The remodel included new insulation, framing, wood windows, electrical, plumbing, and high-end fixtures, while preserving the home’s original, repurposed architectural character. The first floor offers 2 bedrooms and is fully vacant. The second floor is currently occupied under a tenancy-at-will arrangement. In addition to the main residence, the property includes a carriage house garage with a separate entrance and a full second floor that can function as a studio, storage area, workshop, or other creative space. Outside, there is an oversized lot with a fenced-in backyard.
The property is located at 173-177 Madison Ave in Holyoke, MA, positioned on a quiet, single-family street in the Highlands area.
For tenants, buyers, or operators, the layout supports flexible occupancy: the first floor’s vacancy allows for immediate move-in or re-leasing, while the second floor provides continuity with its existing tenancy-at-will. The carriage house’s separate entrance and second-floor space can be especially useful for independent work-from-home use, hobby space, or additional storage that does not need to be shared with the main living area.
The property is located at 173-177 Madison Ave in Holyoke, MA, positioned on a quiet, single-family street in the Highlands area.
For tenants, buyers, or operators, the layout supports flexible occupancy: the first floor’s vacancy allows for immediate move-in or re-leasing, while the second floor provides continuity with its existing tenancy-at-will. The carriage house’s separate entrance and second-floor space can be especially useful for independent work-from-home use, hobby space, or additional storage that does not need to be shared with the main living area.
Key Highlights
- Completely redesigned and down‑to‑the‑studs remodeled in 2021 (Year built 1910).
- All‑new insulation, framing, wood windows, electrical, plumbing, and high‑end fixtures (2021).
- Two‑family layout: 1st floor has 2 bedrooms and is fully vacant.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.8k | $19.80 |
| − Vacancy | −$3.8k | −$1.09 |
| EGI | $65.1k | $18.71 |
| − OpEx | −$19.5k | −$5.61 |
| NOI | $45.5k | $13.10 |
3,477 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$650.6K
$569.3K – $759.0K
NOI $45,541 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$602.9K
$527.6K – $703.4K
NOI $42,204 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,006 @ 7.0% cap · market cap 21.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Renovated 2021 duplex with fenced backyard and carriage house garage plus separate entrance and full second floor.
Where is this duplex located?
The property is located at 173-177 Madison Ave Holyoke, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Completely redesigned and down‑to‑the‑studs remodeled in 2021 (Year built 1910).; All‑new insulation, framing, wood windows, electrical, plumbing, and high‑end fixtures (2021).; Two‑family layout: 1st floor has 2 bedrooms and is fully vacant.
