Updated Duplex with Occupied
For Sale
$385,000
Pending
41-43 Lansing Pl, Springfield, MA 01108
Fully occupied duplex with renovated bathrooms, fresh interior finishes, and a recently installed roof.
Property Size2,176 SF
Days on Market10
Property Features for 41-43 Lansing Pl
General Information
Standard status
Pending
Size
2,176 SF
Total Parking Spaces
8
Property subtype
Residential Income
Zoning
R2
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,028
Building Details
Building Size
2,176 SF
Year Built
1987
Buildings
1
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Western MA
(413) 561-5188
Listed By:
Josbel Nazario
(413) 561-5188
Source:
Janicemitchellre
Added: Aug 11
Changed: Aug 16
Last Checked: Aug 15 at 12:20PM
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 Coldwell Banker Realty - Western MA
Investment Insights
Based on property information with market context.
This R2-zoned duplex contains two residential units, both occupied at present. The property was built in 1987 and has received several interior and exterior improvements, including new flooring and fresh paint throughout both units. All four bathrooms were renovated in 2024, while a new roof was installed in April 2026.
The home is positioned on a cul-de-sac at 41-43 Lansing Pl in Springfield, Massachusetts. Each unit provides a practical residential layout, and current occupancy supports ongoing rental income for a multifamily owner. Showings require at least 24 hours’ notice.
The home is positioned on a cul-de-sac at 41-43 Lansing Pl in Springfield, Massachusetts. Each unit provides a practical residential layout, and current occupancy supports ongoing rental income for a multifamily owner. Showings require at least 24 hours’ notice.
Key Highlights
- Two‑family duplex with both units currently occupied
- New roof installed in April 2026
- All four bathrooms renovated in 2024
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
$32,209
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
8.37%
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%
$644,180
$644.2K
Cap Rate 7%
$460,129
$460.1K
Cap Rate 9%
$357,878
$357.9K
Market Conditions
NOI Build-Up for 2,176 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
$48.3K $22.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$46.0K $21.15/SF
− OpEx
−$13.8K −$6.34/SF
NOI
$32.2K $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%
$644,180
Cap Rate 7%
$460,129
Cap Rate 9%
$357,878
Alternative Uses
Best Use
Multifamily LT 5
$460.1K
$402.6K – $536.8K
NOI $32,209 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$409.3K
$358.1K – $477.5K
NOI $28,651 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$590.9K
$517.0K – $689.4K
NOI $41,361 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
967
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 - Fully occupied duplex with renovated bathrooms, fresh interior finishes, and a recently installed roof.
Where is this duplex located?
The property is located at 41-43 Lansing Pl Springfield, MA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two‑family duplex with both units currently occupied; New roof installed in April 2026; All four bathrooms renovated in 2024
