Side-by-Side Duplex with
New
For Sale
$325,000
241-243 Nottingham Street, Springfield, MA 01104
Two separately serviced residences include laundry hookups, private storage, and rear off-street parking.
Property Size1,764 SF
Price / SF$184.24
Days on Market4
Property Features for 241-243 Nottingham Street
General Information
Standard status
Active
Size
1,764 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R1
Site & Location
Neighborhood
Mcknight
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,025
Amenities
Bathroom With Tub & Shower
Living Room
Kitchen
Rain Gutters
Building Details
Building Size
1,764 SF
Year Built
1989
Buildings
1
Stories
3
Units
2
Listing Agency:
Lamacchia Realty, Inc.
(413) 785-1636
Listed By:
Brian Sears
(413) 237-9399
Source:
Berettarealty
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 24 at 8:51PM
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 Lamacchia Realty, Inc.
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Investment Insights
Based on property information with market context.
This side-by-side duplex contains two self-contained residences, each arranged across two levels. Both units have two bedrooms, a full bath, and a half bath, along with their own utilities, laundry hookups, and private storage. The first residence includes a kitchen with wood cabinetry and a pantry; the second has an eat-in kitchen. The building totals 1,764 square feet and was built in 1989. The property is offered in its current as-is condition.
Outdoor features include a deck, a fenced area, and paved parking at the rear. The property is zoned R1.
Outdoor features include a deck, a fenced area, and paved parking at the rear. The property is zoned R1.
Key Highlights
- Two side‑by‑side residences, each with two bedrooms, one full bath, and one half bath
- 1,764 square feet; built in 1989
- Separate utilities, laundry hookups, and private storage for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,110
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,200
$522.2K
Cap Rate 7%
$373,000
$373.0K
Cap Rate 9%
$290,111
$290.1K
Market Conditions
NOI Build-Up for 1,764 SF
Gross rent
$39.2K $22.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$37.3K $21.15/SF
− OpEx
−$11.2K −$6.34/SF
NOI
$26.1K $14.80/SF
Area
Springfield, MA
Vacancy
4.75%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,200
Cap Rate 7%
$373,000
Cap Rate 9%
$290,111
Alternative Uses
Best Use
Multifamily LT 5
$373.0K
$326.4K – $435.2K
NOI $26,110 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$331.8K
$290.3K – $387.1K
NOI $23,227 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$479.0K
$419.1K – $558.8K
NOI $33,530 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Explore this area
Business Placement
Demographics for 01104, MA
23,598
Population
9,562
Households
2.5
Avg Household Size
38
Median Age
13%
College-Educated
77%
High-School Grad
5.2 sq mi
ZIP Area
4,538
Density / Sq Mi
$47,530
Median Household Income
$37,463
Median Earnings
$1,004
Median Rent
$210,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately serviced residences include laundry hookups, private storage, and rear off-street parking.
Where is this duplex located?
The property is located at 241-243 Nottingham Street Springfield, 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: Two side‑by‑side residences, each with two bedrooms, one full bath, and one half bath; 1,764 square feet; built in 1989; Separate utilities, laundry hookups, and private storage for each unit
