Two-Unit Residential Income
21-23 Santa Barbara St Springfield, MA 01104
For Sale
$409,900
Pending
Duplex offers two units with three bedrooms each, plus walk-up attic potential and off-street parking.
Property Size2,392 SF
Days on Market109
Property Features for 21-23 Santa Barbara St
General Information
- Standard status
- Pending
- Size
- 2,392 SF
- Property subtype
- 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1922
Listing Agency:
ERA M Connie Laplante Real Estate
(413) 531-9062
Listed By:
Darlene Forget
(413) 531-9062
Source:
Lockandkeyre
Added: Apr 6
Changed: Jul 22
Last Checked: Jul 23 at 5:16AM
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 ERA M Connie Laplante Real Estate
Investment Insights
Based on property information with market context.
This two-unit residential income duplex features two units, each with a kitchen, living room, dining room, laundry area, and three bedrooms. Hardwood flooring is present throughout most of the interior. A third-floor walk-up attic provides potential for additional bedrooms, and each unit includes space that supports practical day-to-day living.
The property includes a driveway for off-street parking and a backyard area suitable for kids or pets. The home is described as being close to area amenities, highways, and shopping.
With its two separate 3-bedroom units and the attic’s potential for expansion, the building is suited to buyers seeking a straightforward duplex configuration with room to reimagine the upper level.
The property includes a driveway for off-street parking and a backyard area suitable for kids or pets. The home is described as being close to area amenities, highways, and shopping.
With its two separate 3-bedroom units and the attic’s potential for expansion, the building is suited to buyers seeking a straightforward duplex configuration with room to reimagine the upper level.
Key Highlights
- 1922 duplex with two units, each offering 3 bedrooms
- Walk‑up attic on the third floor has potential for additional bedrooms
- Each unit includes a kitchen, living room, dining room, laundry area, and 3 bedrooms
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 | $53.1k | $22.20 |
| − Vacancy | −$2.5k | −$1.05 |
| EGI | $50.6k | $21.15 |
| − OpEx | −$15.2k | −$6.34 |
| NOI | $35.4k | $14.80 |
2,392 SF · lease $22.20/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$505.8K
$442.6K – $590.1K
NOI $35,406 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$449.9K
$393.7K – $524.9K
NOI $31,495 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$649.5K
$568.3K – $757.8K
NOI $45,467 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex offers two units with three bedrooms each, plus walk-up attic potential and off-street parking.
Where is this duplex located?
The property is located at 21-23 Santa Barbara St Springfield, MA.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: 1922 duplex with two units, each offering 3 bedrooms; Walk‑up attic on the third floor has potential for additional bedrooms; Each unit includes a kitchen, living room, dining room, laundry area, and 3 bedrooms
