Vacant Two-Family
New
For Sale
$395,000
34 Ashley St, Springfield, MA 01105
Two separate residences offer flexible layouts, private entrances, generous parking, and fenced outdoor space.
Property Size2,141 SF
Price / SF$184.49
Days on Market2
Property Features for 34 Ashley St
General Information
Standard status
Active
Size
2,141 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
enclosed front porch
off-street parking
storage shed
fenced backyard
Building Details
Year Built
1917
Listing Agency:
Nicholas Blais, Lock And Key Realty Inc
Listed By:
Home and Key Real Estate
(508) 817-4284
Source:
Bristolcountyhomesforsale
Added: Sep 14
Last Checked: Sep 15 at 8:14AM
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 Nicholas Blais, Lock And Key Realty Inc
Investment Insights
Based on property information with market context.
Built in 1917, this 2,141-square-foot duplex provides two separate residences with private entrances and delivery vacant at closing. Each unit includes a living area with hardwood flooring, large windows, an eat-in kitchen, a full bathroom, and spacious bedrooms. Additional rooms can accommodate office, dressing, or storage needs, while updated lighting and neutral finishes provide a consistent interior presentation.
The property at 34 Ashley St includes low-maintenance siding, an enclosed front porch, a long paved driveway, and off-street parking. A level, fully fenced backyard adds mature trees and a storage shed for outdoor use. Lead compliance documentation is available for review.
The property at 34 Ashley St includes low-maintenance siding, an enclosed front porch, a long paved driveway, and off-street parking. A level, fully fenced backyard adds mature trees and a storage shed for outdoor use. Lead compliance documentation is available for review.
Key Highlights
- Two‑family property delivered fully vacant at closing
- 2,141 SF duplex built in 1917
- Separate entrances and flexible layouts 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
$31,691
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
8.02%
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%
$633,820
$633.8K
Cap Rate 7%
$452,729
$452.7K
Cap Rate 9%
$352,122
$352.1K
Market Conditions
NOI Build-Up for 2,141 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
$47.5K $22.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$45.3K $21.15/SF
− OpEx
−$13.6K −$6.34/SF
NOI
$31.7K $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%
$633,820
Cap Rate 7%
$452,729
Cap Rate 9%
$352,122
Alternative Uses
Best Use
Multifamily LT 5
$452.7K
$396.1K – $528.2K
NOI $31,691 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$402.7K
$352.4K – $469.9K
NOI $28,191 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$581.4K
$508.7K – $678.3K
NOI $40,696 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,081
Businesses Nearby
Explore this area
Business Placement
Demographics for 01105, MA
12,051
Population
5,554
Households
2.2
Avg Household Size
33
Median Age
8%
College-Educated
64%
High-School Grad
1.2 sq mi
ZIP Area
10,043
Density / Sq Mi
$22,994
Median Household Income
$24,078
Median Earnings
$976
Median Rent
$238,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer flexible layouts, private entrances, generous parking, and fenced outdoor space.
Where is this duplex located?
The property is located at 34 Ashley St Springfield, MA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two‑family property delivered fully vacant at closing; 2,141 SF duplex built in 1917; Separate entrances and flexible layouts for both units
