Two-Unit Residential Income
40 Ames Street Springfield, MA 01104
40 Ames Street, Springfield, MA, 01104
$242,000
For Sale
$242,000
Two one-bedroom, one-bath units in a well-maintained two-family building, with both units currently leased.
Property Size1,248 SF
Price / SF$193.91
Days on Market24
Property Features for 40 Ames Street
General Information
- Standard status
- Active
- Size
- 1,248 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1941
Listing agency
Wolcott Realty
Listed by
Mary O'Connell
(413) 584-5700
Source
Murphyrealtors
Added: Jun 28 Updated: Jul 21 at 12:10AM Checked: Jul 21 at 12:10AM
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 Wolcott Realty
Investment Insights
Based on property information with market context.
This well-maintained two-family residential income property includes two separate one-bedroom, one-bath units. Each unit provides its own practical, comfortable layout, and both are currently leased.
The property is located in an established Springfield neighborhood with convenient access to shopping, dining, schools, public transportation, and major highways.
Ideal for investors seeking immediate rental income, this duplex setup offers two independently leased units within a single building.
The property is located in an established Springfield neighborhood with convenient access to shopping, dining, schools, public transportation, and major highways.
Ideal for investors seeking immediate rental income, this duplex setup offers two independently leased units within a single building.
Key Highlights
- Two‑family building built in 1941 with two 1‑bedroom, 1‑bath units
- Both units are currently leased, providing immediate rental income
- Well‑maintained property with practical unit layouts
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 | $27.7k | $22.20 |
| − Vacancy | −$1.3k | −$1.05 |
| EGI | $26.4k | $21.15 |
| − OpEx | −$7.9k | −$6.34 |
| NOI | $18.5k | $14.80 |
1,248 SF · lease $22.20/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$263.9K
$230.9K – $307.9K
NOI $18,473 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$234.7K
$205.4K – $273.9K
NOI $16,432 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$338.9K
$296.5K – $395.4K
NOI $23,722 @ 7.0% cap · market cap 9.80%
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 - Two one-bedroom, one-bath units in a well-maintained two-family building, with both units currently leased.
Where is this duplex located?
The property is located at 40 Ames Street Springfield, MA.
What is the asking price?
The asking price for this property is $242,000.
What are key features of this property?
This property features: Two‑family building built in 1941 with two 1‑bedroom, 1‑bath units; Both units are currently leased, providing immediate rental income; Well‑maintained property with practical unit layouts
