Side-by-Side Two-Family
For Sale
$329,900
Pending
21 South Street, Westfield, MA 01085
Side-by-side two-family residence on a large lot with wood floors, multiple living areas, and a walk-up attic.
Property Size2,496 SF
Lot Size0.62 Acres
Days on Market47
Property Features for 21 South Street
General Information
Standard status
Pending
Size
2,496 SF
Total Parking Spaces
2
Lot size
0.62 Acres
Property subtype
Multi-family / 2 Family - 2 Units Side by Side
Zoning
RA
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,745
Amenities
No, Yes, .00, Paved Drive, Paved Drive
No
Wood
Range, Refrigerator, Washer, Dryer
1
Yes
2.0
Walk-Up Attic, Bathroom With Tub, Ceiling Fan(s), Living Room, Kitchen, Laundry Room, Window AC
2
2.00
Frame
Shingle
Level
Rain Gutters, Deck
Deck
Building Details
Year Built
1880
Tenancy
Multi
Listing Agency:
Witalisz & Associates, Inc.
(413) 568-0005
Listed By:
Team Witalisz · License #9505503
(413) 568-0005
Source:
Compass
Added: Jun 24
Changed: Aug 8
Last Checked: Aug 4 at 11:23AM
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 Witalisz & Associates, Inc.
Investment Insights
Based on property information with market context.
This side-by-side, two-family home offers two separate units in a duplex layout. Each unit includes spacious bedrooms and bathrooms, beautiful wood flooring, ample closet space, and multiple living areas. The property also features a full walk-up attic and a detached shed with electricity, along with generous outdoor space.
The home is located on South Street in Westfield, within minutes of downtown Westfield and shopping, while remaining in a residential setting.
The property is listed with 5 bedrooms and 3 baths (as provided), and is being offered for sale with updating needed to maximize its value.
The home is located on South Street in Westfield, within minutes of downtown Westfield and shopping, while remaining in a residential setting.
The property is listed with 5 bedrooms and 3 baths (as provided), and is being offered for sale with updating needed to maximize its value.
Key Highlights
- Side‑by‑side two‑family home on a level 0.62‑acre lot
- Each unit features wood flooring, multiple living areas, and spacious bedrooms with ample closet space
- Includes 1 fireplace and 2 full baths total, plus window AC units
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
$30,297
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
9.18%
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%
$605,940
$605.9K
Cap Rate 7%
$432,814
$432.8K
Cap Rate 9%
$336,633
$336.6K
Market Conditions
NOI Build-Up for 2,496 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
$58.1K $23.28/SF
− Vacancy
−$3.0K −$1.21/SF
EGI
$55.1K $22.07/SF
− OpEx
−$24.8K −$9.93/SF
NOI
$30.3K $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%
$605,940
Cap Rate 7%
$432,814
Cap Rate 9%
$336,633
Alternative Uses
Best Use
Multifamily LT 5
$467.0K
$408.7K – $544.9K
NOI $32,692 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$432.8K
$378.7K – $505.0K
NOI $30,297 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$1.54M
$1.35M – $1.79M
NOI $107,683 @ 7.0% cap · market cap 32.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Explore this area
Business Placement
Demographics for 01085, MA
41,529
Population
17,054
Households
2.4
Avg Household Size
41
Median Age
33%
College-Educated
92%
High-School Grad
59.7 sq mi
ZIP Area
696
Density / Sq Mi
$83,821
Median Household Income
$44,737
Median Earnings
$1,064
Median Rent
$296,300
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 - Side-by-side two-family residence on a large lot with wood floors, multiple living areas, and a walk-up attic.
Where is this duplex located?
The property is located at 21 South Street Westfield, MA.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Side‑by‑side two‑family home on a level 0.62‑acre lot; Each unit features wood flooring, multiple living areas, and spacious bedrooms with ample closet space; Includes 1 fireplace and 2 full baths total, plus window AC units
