Studio Apartment
For Sale
$2,376,250
Pending
21 Dwight, Agawam, MA 01001
Income-producing multifamily property with upgraded interiors, outdoor decking, and on-site coin-operated laundry equipment.
Property Size6,696 SF
Days on Market63
Property Features for 21 Dwight
General Information
Standard status
Pending
Size
6,696 SF
Property subtype
5+ Family - 5+ Units Up/Down
Net Operating Income
$189,000
Units
Unit Mix
22 x studio
Multifamily Units
22
Taxes and HOA fees
Annual Taxes
$16,555
Amenities
coin-operated laundry
Building Details
Building Size
6,696 SF
Year Built
1965
Listing Agency:
Premier Choice Realty
(413) 537-0973
Listed By:
Russell J. Sabadosa · License #452501212
Source:
Donnellyandco
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 7 at 2:00AM
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 Premier Choice Realty
Investment Insights
Based on property information with market context.
This 22-unit studio apartment building was constructed in 1965 and includes numerous upgrades, including plank flooring, LED lighting, and composite decking. The property also features four sets of coin-operated laundry equipment that generate additional income.
Located at 21 Dwight in Agawam, Massachusetts, the building offers an existing multifamily configuration with potential for further operational improvements. Possible heat pump installation and expansion of basement space may provide additional opportunities, subject to buyer verification, permits, and approvals.
Located at 21 Dwight in Agawam, Massachusetts, the building offers an existing multifamily configuration with potential for further operational improvements. Possible heat pump installation and expansion of basement space may provide additional opportunities, subject to buyer verification, permits, and approvals.
Key Highlights
- 22‑unit studio apartment building constructed in 1965
- Upgrades include plank flooring, LED lighting, and composite decking
- Four sets of coin‑operated laundry equipment generate additional income
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
$81,277
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
3.42%
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%
$1,625,540
$1.6M
Cap Rate 7%
$1,161,100
$1.2M
Cap Rate 9%
$903,078
$903.1K
Market Conditions
NOI Build-Up for 6,696 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
$155.9K $23.28/SF
− Vacancy
−$8.1K −$1.21/SF
EGI
$147.8K $22.07/SF
− OpEx
−$66.5K −$9.93/SF
NOI
$81.3K $12.14/SF
Area
Hampden County, MA
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,625,540
Cap Rate 7%
$1,161,100
Cap Rate 9%
$903,078
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.02M – $1.35M
NOI $81,277 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.13M
$3.61M – $4.81M
NOI $288,882 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
691
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?
Apartment building - Income-producing multifamily property with upgraded interiors, outdoor decking, and on-site coin-operated laundry equipment.
Where is this apartment building located?
The property is located at 21 Dwight Agawam, MA.
What is the asking price?
The asking price for this property is $2,376,250.
What are key features of this property?
This property features: 22‑unit studio apartment building constructed in 1965; Upgrades include plank flooring, LED lighting, and composite decking; Four sets of coin‑operated laundry equipment generate additional income
