Two-Unit Residential Income
For Sale
$325,000
Pending
21-23 Parker St, Holyoke, MA 01040
Duplex features two 2-bedroom, 1-bath units with dedicated driveways, washer/dryer hookups, and fenced yard.
Property Size2,088 SF
Days on Market50
Property Features for 21-23 Parker St
General Information
Standard status
Pending
Size
2,088 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Year Built
1880
Listing Agency:
NextHome Elite Realty
(413) 210-9714
Listed By:
Next Level Realty Team · License #PersonLicenseNumber
(413) 210-9714
Source:
Lockandkeyre
Added: Jul 14
Changed: Aug 31
Last Checked: Sep 1 at 6:15PM
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 NextHome Elite Realty
Investment Insights
Based on property information with market context.
This residential income duplex offers two separate 2-bedroom, 1-bath units. Each unit has its own dedicated driveway for off-street parking and includes individual washer and dryer hookups. Exterior improvements include replacement windows and vinyl siding, and the property also features a fenced yard.
Located at 21-23 Parker St, Holyoke, MA 01040, the property is described as being close to shopping, restaurants, parks, and major routes. The public remarks also note Holyoke’s municipally owned gas and electric services.
The units are presented as well maintained by the current owner. Showings are scheduled for open houses on Friday 7/17 from 5:30 PM to 7:00 PM and Sunday 7/19 from 11:00 AM to 12:30 PM.
Located at 21-23 Parker St, Holyoke, MA 01040, the property is described as being close to shopping, restaurants, parks, and major routes. The public remarks also note Holyoke’s municipally owned gas and electric services.
The units are presented as well maintained by the current owner. Showings are scheduled for open houses on Friday 7/17 from 5:30 PM to 7:00 PM and Sunday 7/19 from 11:00 AM to 12:30 PM.
Key Highlights
- Duplex built in 1880 with two 2‑bedroom, 1‑bath units
- Each unit has its own dedicated driveway for off‑street parking
- Each unit includes washer and 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
$27,348
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
8.41%
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%
$546,960
$547.0K
Cap Rate 7%
$390,686
$390.7K
Cap Rate 9%
$303,867
$303.9K
Market Conditions
NOI Build-Up for 2,088 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
$41.3K $19.80/SF
− Vacancy
−$2.3K −$1.09/SF
EGI
$39.1K $18.71/SF
− OpEx
−$11.7K −$5.61/SF
NOI
$27.3K $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%
$546,960
Cap Rate 7%
$390,686
Cap Rate 9%
$303,867
Alternative Uses
Best Use
Multifamily LT 5
$390.7K
$341.9K – $455.8K
NOI $27,348 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$362.1K
$316.8K – $422.4K
NOI $25,345 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,081 @ 7.0% cap · market cap 27.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 01040, MA
38,238
Population
17,057
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
79%
High-School Grad
21.2 sq mi
ZIP Area
1,804
Density / Sq Mi
$51,892
Median Household Income
$41,801
Median Earnings
$1,016
Median Rent
$255,300
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 - Duplex features two 2-bedroom, 1-bath units with dedicated driveways, washer/dryer hookups, and fenced yard.
Where is this duplex located?
The property is located at 21-23 Parker St Holyoke, MA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Duplex built in 1880 with two 2‑bedroom, 1‑bath units; Each unit has its own dedicated driveway for off‑street parking; Each unit includes washer and dryer hookups
