Solid Two-Family
For Sale
$365,000
295 Main, Springfield, MA 01151
Well-maintained two-family home with rental income potential.
Property Size1,200 SF
Price / SF$304.17
Days on Market312
Property Features for 295 Main
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
Berkshire Hathaway HomeServices Realty Professionals
(413) 275-9484
Listed By:
Zell Melendez
Source:
Gregoryhaughton
Added: Oct 18, 2025
Changed: Aug 25
Last Checked: Aug 24 at 6:08AM
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 Berkshire Hathaway HomeServices Realty Professionals
Investment Insights
Based on property information with market context.
This two-family property features two 2-bedroom, 1-bath units, each designed with a functional layout and comfortable living space. The property is well-maintained and suitable for owner-occupants or investors seeking multi-family income. On-site off-street parking is available. The property is located in a B1 zoning district, which allows for a range of permitted uses according to municipal guidelines; buyers should verify allowable uses with the town. The property includes a double lot, offering additional exterior space that may present future possibilities, subject to approvals. Buyers are advised to perform due diligence with local departments.
Key Highlights
- Two well‑sized 2‑bedroom, 1‑bath units offer comfortable living space and strong rental appeal.
- Excellent opportunity for owner‑occupants or investors seeking steady multi‑family income.
- On‑site off‑street parking adds convenience for both 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
$17,762
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
4.87%
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%
$355,240
$355.2K
Cap Rate 7%
$253,743
$253.7K
Cap Rate 9%
$197,356
$197.4K
Market Conditions
NOI Build-Up for 1,200 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
$26.6K $22.20/SF
− Vacancy
−$1.3K −$1.05/SF
EGI
$25.4K $21.15/SF
− OpEx
−$7.6K −$6.34/SF
NOI
$17.8K $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%
$355,240
Cap Rate 7%
$253,743
Cap Rate 9%
$197,356
Alternative Uses
Best Use
Multifamily LT 5
$253.7K
$222.0K – $296.0K
NOI $17,762 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$225.7K
$197.5K – $263.3K
NOI $15,800 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$325.9K
$285.1K – $380.2K
NOI $22,810 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
529
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home with rental income potential.
Where is this duplex located?
The property is located at 295 Main Springfield, MA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two well‑sized 2‑bedroom, 1‑bath units offer comfortable living space and strong rental appeal.; Excellent opportunity for owner‑occupants or investors seeking steady multi‑family income.; On‑site off‑street parking adds convenience for both units.
