Updated Duplex with Finished
For Sale
$449,987
Pending
282-284 Parkerview St, Springfield, MA 01129
Two-unit property with a finished basement, updated interiors, and access to shopping, schools, public transportation, and highways.
Property Size2,240 SF
Days on Market103
Property Features for 282-284 Parkerview St
General Information
Standard status
Pending
Size
2,240 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
R1
Amenities
Full, Partially Finished, Bulkhead
Tile, Carpet
No
Shingle
Public Transportation, Shopping, Tennis Court(s), Park, Walk/Jog Trails, Golf, Laundromat, Highway Access, House of Worship, Private School, Public School, University
5
Building Details
Building Size
2,240 SF
Year Built
1976
Stories
4
Listing Agency:
Hampden Realty Center, LLC
(413) 887-8816
Listed By:
Bill Nichols · License #452508723
Source:
Gundersheimgroup
Added: May 20
Changed: Aug 29
Last Checked: Aug 29 at 1:13PM
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 Hampden Realty Center, LLC
Investment Insights
Based on property information with market context.
Built in 1976, this R1-zoned duplex contains 2,240 square feet and sits on a 10,001 sq.ft. lot. One vacant unit offers 3 bedrooms and 2.5 baths, including a primary suite with a private bath, along with a finished basement. Fresh paint and new flooring provide recent interior updates. The second unit includes 2 bedrooms and 1.5 bathrooms, supporting rental income within the two-unit configuration.
Located at 282-284 Parkerview St in Springfield, the property is near shopping, public and private schools, a university, parks, golf, tennis courts, walking and jogging trails, a laundromat, houses of worship, public transportation, and highway access. The backyard provides outdoor space for residents, while the surrounding amenities add convenience for both units.
Located at 282-284 Parkerview St in Springfield, the property is near shopping, public and private schools, a university, parks, golf, tennis courts, walking and jogging trails, a laundromat, houses of worship, public transportation, and highway access. The backyard provides outdoor space for residents, while the surrounding amenities add convenience for both units.
Key Highlights
- 3‑bedroom, 2.5‑bath vacant unit with a primary suite and private bath
- Second unit includes 2 bedrooms and 1.5 bathrooms
- Finished basement adds additional living area
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
$33,156
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
7.37%
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%
$663,120
$663.1K
Cap Rate 7%
$473,657
$473.7K
Cap Rate 9%
$368,400
$368.4K
Market Conditions
NOI Build-Up for 2,240 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
$49.7K $22.20/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$47.4K $21.15/SF
− OpEx
−$14.2K −$6.34/SF
NOI
$33.2K $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 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%
$663,120
Cap Rate 7%
$473,657
Cap Rate 9%
$368,400
Alternative Uses
Best Use
Multifamily LT 5
$473.7K
$414.5K – $552.6K
NOI $33,156 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$421.3K
$368.7K – $491.6K
NOI $29,494 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$608.3K
$532.2K – $709.6K
NOI $42,578 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 01129, MA
7,024
Population
2,699
Households
2.6
Avg Household Size
43
Median Age
31%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
2,066
Density / Sq Mi
$92,500
Median Household Income
$49,316
Median Earnings
$1,325
Median Rent
$239,200
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 - Two-unit property with a finished basement, updated interiors, and access to shopping, schools, public transportation, and highways.
Where is this duplex located?
The property is located at 282-284 Parkerview St Springfield, MA.
What is the asking price?
The asking price for this property is $449,987.
What are key features of this property?
This property features: 3‑bedroom, 2.5‑bath vacant unit with a primary suite and private bath; Second unit includes 2 bedrooms and 1.5 bathrooms; Finished basement adds additional living area
