Townhouse-Style
New
For Sale
$415,000
3005 Prospect St, Palmer, MA 01009
Both residences are vacant, with private basements and off-street parking serving the two-unit property.
Property Size2,160 SF
Price / SF$192.13
Days on Market3
Property Features for 3005 Prospect St
General Information
Standard status
Active
Size
2,160 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
TR
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,434
Building Details
Building Size
2,160 SF
Year Built
1994
Listing Agency:
Naples Realty Group
Listed By:
The Govoni Group
(413) 798-8806
Source:
413realestate
Added: Oct 24
Last Checked: Oct 24 at 1:44PM
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 Naples Realty Group
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Investment Insights
Based on property information with market context.
This 2,160-square-foot duplex in Palmer, Massachusetts, was built in 1994 and has undergone renovations. Its two residences are arranged side by side in a townhouse-style configuration. Each includes three bedrooms, one and a half bathrooms, a kitchen, a living room, and a separate basement for storage.
Both units are vacant. The property also has off-street parking.
Both units are vacant. The property also has off-street parking.
Key Highlights
- Two side‑by‑side residences, each with 3 bedrooms and 1.5 bathrooms
- 2,160 SF duplex in Palmer, Massachusetts
- Each residence has a kitchen, living room, and private basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,291
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,820
$565.8K
Cap Rate 7%
$404,157
$404.2K
Cap Rate 9%
$314,344
$314.3K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$42.8K $19.80/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$40.4K $18.71/SF
− OpEx
−$12.1K −$5.61/SF
NOI
$28.3K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$565,820
Cap Rate 7%
$404,157
Cap Rate 9%
$314,344
Alternative Uses
Best Use
Multifamily LT 5
$404.2K
$353.6K – $471.5K
NOI $28,291 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$374.5K
$327.7K – $437.0K
NOI $26,218 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,188 @ 7.0% cap · market cap 22.45%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
614
Businesses Nearby
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Business Placement
Demographics for 01009, MA
980
Population
367
Households
2.7
Avg Household Size
41
Median Age
38%
College-Educated
95%
High-School Grad
0.7 sq mi
ZIP Area
1,400
Density / Sq Mi
$70,763
Median Household Income
$39,046
Median Earnings
$1,305
Median Rent
$275,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant, with private basements and off-street parking serving the two-unit property.
Where is this duplex located?
The property is located at 3005 Prospect St Palmer, MA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two side‑by‑side residences, each with 3 bedrooms and 1.5 bathrooms; 2,160 SF duplex in Palmer, Massachusetts; Each residence has a kitchen, living room, and private basement
