Side-by-Side Duplex with 4-Car
365-367 Water Street Springfield, MA 01151
365-367 Water Street, Springfield, MA, 01151
$379,488
For Sale
$379,488
Fully remodeled side-by-side duplex with new roof, siding, replacement windows, modern kitchens, and a rare 4-car garage.
Property Size1,900 SF
Price / SF$199.73
Days on Market129
Property Features for 365-367 Water Street
General Information
- Standard status
- Active
- Size
- 1,900 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Side by Side
Building Details
- Year Built
- 1915
Listing agency
Gallagher Real Estate
(877) 533-3539
Listed by
Carlos Aguasvivas · License #9534092
(877) 533-3539
Source
Compass
Added: Mar 15 Updated: Jul 21 at 3:18AM Checked: Jul 21 at 3:18AM
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 Gallagher Real Estate
Investment Insights
Based on property information with market context.
This side-by-side duplex has been fully remodeled throughout. Updates include a brand-new roof, new siding, and replacement windows in both units. Each unit features modern custom kitchens with quartz countertops, stainless steel appliances, and custom tiled showers.
The property is offered with two separate driveways and a rare 4-car garage. A cozy front sitting area and a large backyard provide outdoor space for everyday use and gatherings.
With two units, the layout supports either investment use or owner-occupancy, and the upgrades are positioned to appeal to tenants seeking a clean, contemporary finish.
The property is offered with two separate driveways and a rare 4-car garage. A cozy front sitting area and a large backyard provide outdoor space for everyday use and gatherings.
With two units, the layout supports either investment use or owner-occupancy, and the upgrades are positioned to appeal to tenants seeking a clean, contemporary finish.
Key Highlights
- Fully remodeled side‑by‑side duplex with 2 bathrooms total (2 full baths) and basement with concrete floor
- Brand‑new roof, new siding, and replacement windows throughout
- River waterfront with Chicopee River views and a public waterfront/water connection
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.2k | $22.20 |
| − Vacancy | −$2.0k | −$1.05 |
| EGI | $40.2k | $21.15 |
| − OpEx | −$12.1k | −$6.34 |
| NOI | $28.1k | $14.80 |
1,900 SF · lease $22.20/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$401.8K
$351.6K – $468.7K
NOI $28,124 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$357.4K
$312.7K – $417.0K
NOI $25,017 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$515.9K
$451.4K – $601.9K
NOI $36,115 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully remodeled side-by-side duplex with new roof, siding, replacement windows, modern kitchens, and a rare 4-car garage.
Where is this duplex located?
The property is located at 365-367 Water Street Springfield, MA.
What is the asking price?
The asking price for this property is $379,488.
What are key features of this property?
This property features: Fully remodeled side‑by‑side duplex with 2 bathrooms total (2 full baths) and basement with concrete floor; Brand‑new roof, new siding, and replacement windows throughout; River waterfront with Chicopee River views and a public waterfront/water connection
