Updated Two-Unit
For Sale
$449,987
Pending
341-343 White St, Springfield, MA 01108
One leased residence and one vacant unit provide immediate occupancy flexibility within this two-family property.
Property Size2,506 SF
Days on Market72
Property Features for 341-343 White St
General Information
Standard status
Pending
Size
2,506 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
R2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,575
Building Details
Building Size
2,506 SF
Year Built
1922
Stories
2
Units
2
Listing Agency:
Hampden Realty Center, LLC
(413) 507-2988
Listed By:
Laurie Palatino
(413) 419-9014
Source:
Aucoinryanrealty
Added: Jun 23
Changed: Aug 30
Last Checked: Jul 4 at 12:17PM
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 1922, this two-family property contains 2,506 square feet and is configured with one vacant residence and one leased unit. The available unit has been refreshed with light neutral paint and new bedroom carpeting, creating a move-in-ready interior for an occupant or new tenancy.
Located at 341-343 White St in Springfield, Massachusetts, the property combines an existing lease with an available unit in a residential income configuration. The two-unit format supports either continued rental operation or an owner-occupancy arrangement with the second residence leased.
Located at 341-343 White St in Springfield, Massachusetts, the property combines an existing lease with an available unit in a residential income configuration. The two-unit format supports either continued rental operation or an owner-occupancy arrangement with the second residence leased.
Key Highlights
- 2,506‑square‑foot two‑family property built in 1922
- One unit is leased and the second unit is vacant
- Vacant unit features light neutral paint and brand‑new bedroom carpeting
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
$37,093
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
8.24%
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%
$741,860
$741.9K
Cap Rate 7%
$529,900
$529.9K
Cap Rate 9%
$412,144
$412.1K
Market Conditions
NOI Build-Up for 2,506 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
$55.6K $22.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$53.0K $21.15/SF
− OpEx
−$15.9K −$6.34/SF
NOI
$37.1K $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%
$741,860
Cap Rate 7%
$529,900
Cap Rate 9%
$412,144
Alternative Uses
Best Use
Multifamily LT 5
$529.9K
$463.7K – $618.2K
NOI $37,093 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$471.4K
$412.5K – $550.0K
NOI $32,997 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$680.5K
$595.4K – $793.9K
NOI $47,634 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
Explore this area
Business Placement
Demographics for 01108, MA
27,671
Population
11,332
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
81%
High-School Grad
3.4 sq mi
ZIP Area
8,139
Density / Sq Mi
$51,851
Median Household Income
$34,539
Median Earnings
$1,224
Median Rent
$219,500
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 - One leased residence and one vacant unit provide immediate occupancy flexibility within this two-family property.
Where is this duplex located?
The property is located at 341-343 White 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: 2,506‑square‑foot two‑family property built in 1922; One unit is leased and the second unit is vacant; Vacant unit features light neutral paint and brand‑new bedroom carpeting
