Building Details

Building Size 1,728 SF

Year Built 1983

Stories 6

Listing Agency: Ideal Real Estate Services, Inc. Show Phone

Listed By: Luis Vitorino Show Phone

Source: Churchillprop

Added: May 29 Changed: Oct 6 Last Checked: Oct 16 at 7:24AM

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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 Ideal Real Estate Services, Inc.

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Investment Insights

Based on property information with market context.

This 1983 duplex at 26-28 Daniel St includes 1,728 square feet and two residential units. Each unit features a kitchen with dining space, a bright living room, two upstairs bedrooms, and a full bathroom. Refrigerators, stoves, and washer-and-dryer connections are provided, with the laundry hookups located in separate basements. One unit is vacant and ready for occupancy, while the long-term tenant in the other unit will remain after the sale.

The property includes a paved off-street parking area between the side-by-side duplexes. The larger backyard associated with 26-28 Daniel St provides additional outdoor space. The property is zoned R2 and is located in Springfield, Massachusetts.

Key Highlights

• 1,728‑square‑foot duplex built in 1983
• One unit vacant and ready for occupancy
• Long‑term tenant in the other unit to remain with sale

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,578

Cap Rate

7.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$511,560 $511.6K

Cap Rate 7%

$365,400 $365.4K

Cap Rate 9%

$284,200 $284.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,728 SF

Gross rent

$38.4K $22.20/SF

− Vacancy

−$1.8K −$1.05/SF

EGI

$36.5K $21.15/SF

− OpEx

−$11.0K −$6.34/SF

NOI

$25.6K $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%

$511,560

Cap Rate 7%

$365,400

Cap Rate 9%

$284,200

Alternative Uses

Best Use

Multifamily LT 5

$365.4K

$319.7K – $426.3K (±1% cap)

NOI $25,578 @ 7.0% cap · market cap 7.31%

Second Best

Apartment 5plus

$325.0K

$284.4K – $379.2K (±1% cap)

NOI $22,753 @ 7.0% cap · market cap 6.50%

Theoretical Best

Office A

$469.2K

$410.6K – $547.4K (±1% cap)

NOI $32,846 @ 7.0% cap · market cap 9.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Gym & Fitness Center Cafe & Coffee Shop HVAC Service Catering Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

470

Businesses Nearby

Explore this area Business Placement

Demographics for 01151, MA

9,150

Population

3,959

Households

2.3

Avg Household Size

34

Median Age

17%

College-Educated

77%

High-School Grad

2.4 sq mi

ZIP Area

3,813

Density / Sq Mi

$57,113

Median Household Income

$39,117

Median Earnings

$1,239

Median Rent

$219,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-level residential income property with separate basements, on-site paved parking, and one vacant unit ready for occupancy.

Where is this duplex located?

The property is located at 26-28 Daniel St Springfield, MA.

What is the asking price?

The asking price for this property is $349,900.

What are key features of this property?

This property features: 1,728‑square‑foot duplex built in 1983; One unit vacant and ready for occupancy; Long‑term tenant in the other unit to remain with sale