Duplex with Rear
38-40 Grover St, Springfield, MA 01104
For Sale
New
$320,000
Two one-bedroom units each include an eat-in kitchen, a full bath, and a spacious living room.
Property Size1,941 SF
Price / SF$164.86
Days on Market3
Property Features for 38-40 Grover St
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
covered front porch
large rear deck
storage shed
paved driveway
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Executive Real Estate, Inc.
Listed By:
Nunley Group
(413) 364-2160
Source:
Joanieschwartzrealestate
Added: Nov 11
Last Checked: Nov 13 at 7:17AM
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 Executive Real Estate, Inc.
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Investment Insights
Based on property information with market context.
Built in 1924, this R2-zoned duplex contains approximately 1,941 square feet across two one-bedroom units. Each residence has an eat-in kitchen, a full bathroom, and an oversized living room. Recent mechanical updates include a boiler installed in 2025 and a hot water tank installed in 2024.
Outdoor and site features include a covered front porch, a rear deck, a backyard, a storage shed, and a paved driveway. The property is near highway access.
Outdoor and site features include a covered front porch, a rear deck, a backyard, a storage shed, and a paved driveway. The property is near highway access.
Key Highlights
- Two one‑bedroom units, each with an eat‑in kitchen, oversized living room, and full bath
- Approximately 1,941 square feet; built in 1924
- R2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,730
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,600
$574.6K
Cap Rate 7%
$410,429
$410.4K
Cap Rate 9%
$319,222
$319.2K
Market Conditions
NOI Build-Up for 1,941 SF
Gross rent
$43.1K $22.20/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$41.0K $21.15/SF
− OpEx
−$12.3K −$6.34/SF
NOI
$28.7K $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 Rate 5%
$574,600
Cap Rate 7%
$410,429
Cap Rate 9%
$319,222
Alternative Uses
Best Use
Multifamily LT 5
$410.4K
$359.1K – $478.8K
NOI $28,730 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$365.1K
$319.5K – $426.0K
NOI $25,557 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$527.1K
$461.2K – $614.9K
NOI $36,895 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
976
Businesses Nearby
Explore this area
Business Placement
Demographics for 01104, MA
23,598
Population
9,562
Households
2.5
Avg Household Size
38
Median Age
13%
College-Educated
77%
High-School Grad
5.2 sq mi
ZIP Area
4,538
Density / Sq Mi
$47,530
Median Household Income
$37,463
Median Earnings
$1,004
Median Rent
$210,800
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Springfield, MA
Properties on Market for Duplexes in Springfield
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom units each include an eat-in kitchen, a full bath, and a spacious living room.
Where is this duplex located?
The property is located at 38-40 Grover St Springfield, MA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two one‑bedroom units, each with an eat‑in kitchen, oversized living room, and full bath; Approximately 1,941 square feet; built in 1924; R2 zoning
