Side-by-Side Duplex with Occupied
For Sale
$449,900
18-20 Summer Street, Agawam, MA 01001
Two attached residences offer separate access, individual laundry areas, and off-street parking on a wooded corner lot.
Property Size2,400 SF
Price / SF$187.46
Days on Market165
Property Features for 18-20 Summer Street
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
4
Property subtype
Multi-family / 2 Family - 2 Units Side by Side
Zoning
BA
Occupancy
100%
Net Operating Income
$44,400
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,095
Amenities
City/Town Sewer, Public, Circuit Breakers, for Gas Range
No
4.0
Living Room, Kitchen, Laundry Room
2
3.00
4
Frame
Shingle
Corner Lot, Wooded
Building Details
Year Built
1994
Buildings
1
Listing Agency:
Naples Realty Group
(413) 650-1314
Listed By:
The Gerber Group
(413) 650-1314
Source:
Compass
Added: Mar 19
Changed: Aug 30
Last Checked: Aug 30 at 1:35AM
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 Naples Realty Group
Investment Insights
Based on property information with market context.
Built in 1994, this 2,400-square-foot duplex contains two side-by-side residences with separate entrances. Each unit includes three bedrooms, one and one-half baths, a living room, kitchen, and laundry room. Frame construction, shingle siding, and the corner-lot setting are additional property features.
Both residences are currently occupied, and the tenants are scheduled to remain. Off-street parking serves the property, while wooded surroundings add a natural component to the site. The property is located in Agawam and carries BA zoning.
Both residences are currently occupied, and the tenants are scheduled to remain. Off-street parking serves the property, while wooded surroundings add a natural component to the site. The property is located in Agawam and carries BA zoning.
Key Highlights
- 2,400‑square‑foot side‑by‑side duplex built in 1994
- Each unit has 3 bedrooms and 1.5 baths
- Both units are occupied; tenants to remain
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
$31,434
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
6.99%
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%
$628,680
$628.7K
Cap Rate 7%
$449,057
$449.1K
Cap Rate 9%
$349,267
$349.3K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$44.9K $18.71/SF
− OpEx
−$13.5K −$5.61/SF
NOI
$31.4K $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%
$628,680
Cap Rate 7%
$449,057
Cap Rate 9%
$349,267
Alternative Uses
Best Use
Multifamily LT 5
$449.1K
$392.9K – $523.9K
NOI $31,434 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$416.2K
$364.2K – $485.5K
NOI $29,132 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$1.48M
$1.29M – $1.73M
NOI $103,542 @ 7.0% cap · market cap 23.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 01001, MA
16,984
Population
7,033
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
92%
High-School Grad
11.3 sq mi
ZIP Area
1,503
Density / Sq Mi
$71,924
Median Household Income
$54,266
Median Earnings
$1,305
Median Rent
$270,300
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 attached residences offer separate access, individual laundry areas, and off-street parking on a wooded corner lot.
Where is this duplex located?
The property is located at 18-20 Summer Street Agawam, MA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 2,400‑square‑foot side‑by‑side duplex built in 1994; Each unit has 3 bedrooms and 1.5 baths; Both units are occupied; tenants to remain
