Two-Unit Duplex with
New
For Sale
$465,000
31-33 Hayden Ave, Springfield, MA 01109
Tenant-occupied duplex with separate living spaces, outdoor areas, and off-street parking in an R2-zoned setting.
Property Size2,213 SF
Price / SF$210.12
Days on Market5
Property Features for 31-33 Hayden Ave
General Information
Standard status
Active
Size
2,213 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
R2
Net Operating Income
$30,000
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,310
Amenities
full basement
porches
fenced yard
Building Details
Building Size
2,213 SF
Year Built
1896
Listing Agency:
Century 21 North East
(978) 208-0449
Listed By:
Fermin Group
Source:
413realestate
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 12:44PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This two-family property provides 2,213 square feet of living space across two residential units. The upper residence occupies the second and third floors and includes 4 bedrooms and 2 baths, while the first-floor apartment offers 2 bedrooms. A full basement adds storage or utility space, and the property also includes porches, a fenced yard, and off-street parking. The roof is newer, and the building dates to 1896.
The property is tenant occupied and situated near area colleges, public transportation, shopping, and major routes. R2 zoning supports its current two-unit configuration. With 6 bedrooms and 3+ baths overall, the layout accommodates separate households within a single multifamily asset.
The property is tenant occupied and situated near area colleges, public transportation, shopping, and major routes. R2 zoning supports its current two-unit configuration. With 6 bedrooms and 3+ baths overall, the layout accommodates separate households within a single multifamily asset.
Key Highlights
- 2,213 square feet of living space in a two‑unit duplex
- Upper unit spans the second and third floors with 4 bedrooms and 2 baths
- First‑floor apartment includes 2 bedrooms
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
$32,756
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
7.04%
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%
$655,120
$655.1K
Cap Rate 7%
$467,943
$467.9K
Cap Rate 9%
$363,956
$364.0K
Market Conditions
NOI Build-Up for 2,213 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
$49.1K $22.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$46.8K $21.15/SF
− OpEx
−$14.0K −$6.34/SF
NOI
$32.8K $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%
$655,120
Cap Rate 7%
$467,943
Cap Rate 9%
$363,956
Alternative Uses
Best Use
Multifamily LT 5
$467.9K
$409.5K – $545.9K
NOI $32,756 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$416.3K
$364.2K – $485.7K
NOI $29,139 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$600.9K
$525.8K – $701.1K
NOI $42,065 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
792
Businesses Nearby
Explore this area
Business Placement
Demographics for 01109, MA
30,968
Population
10,786
Households
2.9
Avg Household Size
30
Median Age
17%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
5,735
Density / Sq Mi
$46,821
Median Household Income
$34,971
Median Earnings
$1,112
Median Rent
$203,100
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 - Tenant-occupied duplex with separate living spaces, outdoor areas, and off-street parking in an R2-zoned setting.
Where is this duplex located?
The property is located at 31-33 Hayden Ave Springfield, MA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 2,213 square feet of living space in a two‑unit duplex; Upper unit spans the second and third floors with 4 bedrooms and 2 baths; First‑floor apartment includes 2 bedrooms
