Two-Family Residence with
21-23 Continental Street Springfield, MA 01108
21-23 Continental Street, Springfield, MA, 01108
$489,000
For Sale
$489,000
Spacious two-unit duplex with a private fenced yard, driveway, carport, and shed, with updated systems and flexible occupancy.
Property Size3,096 SF
Price / SF$157.95
Days on Market119
Property Features for 21-23 Continental Street
General Information
- Standard status
- Active
- Size
- 3,096 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1898
Listing agency
Coldwell Banker Realty - Western MA
Listed by
Marisol Franco
(413) 789-9830
Source
Parksquarerealty
Added: Mar 26 Updated: Jul 21 at 3:04PM Checked: Jul 22 at 8:00AM
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 Coldwell Banker Realty - Western MA
Investment Insights
Based on property information with market context.
This spacious two-family duplex includes a total of 13 rooms across two units, offering flexibility for owner-occupants and investors. The first-floor unit features 4 bedrooms and 1 full bath and is set to be delivered vacant on May 1st. The second-floor unit is currently vacant and spans two levels, with 3 bedrooms on the main level and a finished walk-up third floor with two additional rooms. The second-floor kitchen includes granite countertops and connects to a pantry room for additional storage. Exterior amenities include a private fenced yard, driveway, carport, and an attached shed.
The property is located within walking distance to Forest Park and provides easy access to local shops, restaurants, and major routes.
Reported updates include newer furnaces installed in 2022 and 2024, and a roof approximately 10 years old.
The property is located within walking distance to Forest Park and provides easy access to local shops, restaurants, and major routes.
Reported updates include newer furnaces installed in 2022 and 2024, and a roof approximately 10 years old.
Key Highlights
- Spacious two‑unit duplex (13 rooms, 9 bedrooms), built in 1898, with flexible owner‑occupant or investor options
- Vacancy plan: second‑floor unit vacant; first‑floor unit delivered vacant May 1
- First‑floor unit: 4 bedrooms and 1 full bath
Local Financial Insights For Apartment 5plus
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 | $78.0k | $25.20 |
| − Vacancy | −$3.9k | −$1.26 |
| EGI | $74.1k | $23.94 |
| − OpEx | −$33.4k | −$10.77 |
| NOI | $40.8k | $13.17 |
3,096 SF · lease $25.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$654.7K
$572.8K – $763.8K
NOI $45,827 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$582.4K
$509.6K – $679.4K
NOI $40,765 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$840.7K
$735.6K – $980.8K
NOI $58,849 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Spacious two-unit duplex with a private fenced yard, driveway, carport, and shed, with updated systems and flexible occupancy.
Where is this duplex located?
The property is located at 21-23 Continental Street Springfield, MA.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Spacious two‑unit duplex (13 rooms, 9 bedrooms), built in 1898, with flexible owner‑occupant or investor options; Vacancy plan: second‑floor unit vacant; first‑floor unit delivered vacant May 1; First‑floor unit: 4 bedrooms and 1 full bath
