Two-Unit Duplex with Laundry
350 Elm Street, Westfield, MA 01085
For Sale
$499,000
Both apartments include laundry hookups, with eight off-street parking spaces serving the property.
Property Size2,808 SF
Lot Size0.09 Acres
Price / SF$177.71
Days on Market11
Property Features for 350 Elm Street
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
laundry hookups
Building Details
Year Built
Buildings
Stories
Listing Agency:
Better Investment Group Corp
Listed By:
Viktoria Brennan
Source:
Gogginsrealestate
Added: Oct 30
Changed: Nov 9
Last Checked: Nov 8 at 6:27AM
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 Better Investment Group Corp
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,808 square feet of living area. The first-floor apartment has three bedrooms and one full bathroom; the second-floor apartment has five bedrooms and one full bathroom. Laundry hookups are provided in both units. An unfinished basement adds 1,404 square feet, and the 3,920-square-foot lot includes eight off-street parking spaces. Built in 1910, the property is occupied.
Key Highlights
- 2,808‑square‑foot building with an unfinished 1,404‑square‑foot basement
- First‑floor apartment has 3 bedrooms and 1 full bathroom
- Second‑floor apartment has 5 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,778
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,560
$735.6K
Cap Rate 7%
$525,400
$525.4K
Cap Rate 9%
$408,644
$408.6K
Market Conditions
NOI Build-Up for 2,808 SF
Gross rent
$55.6K $19.80/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$52.5K $18.71/SF
− OpEx
−$15.8K −$5.61/SF
NOI
$36.8K $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%
$735,560
Cap Rate 7%
$525,400
Cap Rate 9%
$408,644
Alternative Uses
Best Use
Multifamily LT 5
$525.4K
$459.7K – $613.0K
NOI $36,778 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$486.9K
$426.1K – $568.1K
NOI $34,084 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,144 @ 7.0% cap · market cap 24.28%
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
886
Businesses Nearby
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Business Placement
Demographics for 01085, MA
41,529
Population
17,054
Households
2.4
Avg Household Size
41
Median Age
33%
College-Educated
92%
High-School Grad
59.7 sq mi
ZIP Area
696
Density / Sq Mi
$83,821
Median Household Income
$44,737
Median Earnings
$1,064
Median Rent
$296,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Hampden County, MA
Properties on Market for Duplexes in Hampden County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments include laundry hookups, with eight off-street parking spaces serving the property.
Where is this duplex located?
The property is located at 350 Elm Street Westfield, MA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,808‑square‑foot building with an unfinished 1,404‑square‑foot basement; First‑floor apartment has 3 bedrooms and 1 full bathroom; Second‑floor apartment has 5 bedrooms and 1 full bathroom
