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Two-Family Home with Carriage House

173-177 Madison Ave, Holyoke, MA 01040

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For Sale

$699,000

Renovated 2021 duplex with fenced backyard and carriage house garage plus separate entrance and full second floor.

Type:2 Family - 2 Units Up/Down

Property size:

3,477 SF

Price / SF:

$201/SF

Listing Contact

Gregory Haughton

Real Estate License ID: 452506633

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.
2nd floor is occupied on a tenancy‑at‑will lease at $2,450/month.
Oversized lot with a fenced‑in backyard.
Carriage house garage with a separate entrance and full second floor for studio, storage, or workshop use.

Learn more

For Sale

$699,000

Renovated 2021 duplex with fenced backyard and carriage house garage plus separate entrance and full second floor.

Type:2 Family - 2 Units Up/Down

Property size:

3,477 SF

Price / SF:

$201/SF

Added:: Jun 5, 2026
Days on Market:: 7
Last Refresh:: Jun 10 at 2:45 am

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

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Listing Contact

Gregory Haughton

Listing agent Gregory Haughton License #452506633

Listing office 5 College REALTORS

Listing date Jun 5, 2026

Source Lockandkeyre

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

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.
2nd floor is occupied on a tenancy‑at‑will lease at $2,450/month.
Oversized lot with a fenced‑in backyard.
Carriage house garage with a separate entrance and full second floor for studio, storage, or workshop use.

Overview

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.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

NOI $45,541 @ 7.0% cap · market cap 6.52%

Second Best

Apartment 5plus

$602.9K

$527.6K – $703.4K (±1% cap)

NOI $42,204 @ 7.0% cap · market cap 6.04%

Theoretical Best

Office A

$2.14M

$1.88M – $2.50M (±1% cap)

NOI $150,006 @ 7.0% cap · market cap 21.46%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Holyoke
County: Hampden
State: Massachusetts
Longitude: -72.6280989
Latitude: 42.2205663

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For sale
Duplexes
MA
Holyoke
01040
173-177 Madison Ave

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.