Side-by-Side Duplex with
For Sale
$349,900
46-48 Fenwick Street, Springfield, MA 01109
Two two-bedroom units offer hardwood floors, eat-in kitchens, separate utilities, and individual electric meters.
Property Size1,710 SF
Price / SF$204.62
Days on Market11
Property Features for 46-48 Fenwick Street
General Information
Standard status
Active
Size
1,710 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
fenced yard
Building Details
Year Built
1970
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Realty Professionals
Listed By:
Chester Ardolino
(413) 665-3771
Source:
Cbcommunityrealtors
Added: Aug 2
Changed: Aug 11
Last Checked: Aug 11 at 10:10AM
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 Berkshire Hathaway HomeServices Realty Professionals
Investment Insights
Based on property information with market context.
This 1,710-square-foot duplex contains two side-by-side residences, each with two bedrooms, hardwood flooring, and an eat-in kitchen. Both units include a full basement with high ceilings, while separate utilities and individual electric meters support distinct household operations. Electric heat and a fenced yard add practical features for day-to-day occupancy, and off-street parking is provided.
Built in 1970, the property occupies a corner lot at 46-48 Fenwick Street in Springfield. The location is near Western New England University, Springfield College, I-291, and the Massachusetts Turnpike, with regional access toward Worcester and Boston.
The layout combines two-bedroom living spaces with basement areas that may accommodate future finished space, offices, or recreation areas where permitted. The property’s configuration supports both units within one residential income property.
Built in 1970, the property occupies a corner lot at 46-48 Fenwick Street in Springfield. The location is near Western New England University, Springfield College, I-291, and the Massachusetts Turnpike, with regional access toward Worcester and Boston.
The layout combines two-bedroom living spaces with basement areas that may accommodate future finished space, offices, or recreation areas where permitted. The property’s configuration supports both units within one residential income property.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms
- 1,710 square feet on a corner lot
- Full basement with high ceilings beneath each unit
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
$25,311
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
7.23%
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%
$506,220
$506.2K
Cap Rate 7%
$361,586
$361.6K
Cap Rate 9%
$281,233
$281.2K
Market Conditions
NOI Build-Up for 1,710 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
$38.0K $22.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$36.2K $21.15/SF
− OpEx
−$10.8K −$6.34/SF
NOI
$25.3K $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%
$506,220
Cap Rate 7%
$361,586
Cap Rate 9%
$281,233
Alternative Uses
Best Use
Multifamily LT 5
$361.6K
$316.4K – $421.9K
NOI $25,311 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$321.7K
$281.5K – $375.3K
NOI $22,516 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$464.3K
$406.3K – $541.7K
NOI $32,504 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Explore this area
Business Placement
Demographics for 01109, MA
30,968
Population
10,786
Households
2.9
Avg Household Size
30
Median Age
17%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
5,735
Density / Sq Mi
$46,821
Median Household Income
$34,971
Median Earnings
$1,112
Median Rent
$203,100
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 - Two two-bedroom units offer hardwood floors, eat-in kitchens, separate utilities, and individual electric meters.
Where is this duplex located?
The property is located at 46-48 Fenwick Street Springfield, MA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two side‑by‑side units, each with 2 bedrooms; 1,710 square feet on a corner lot; Full basement with high ceilings beneath each unit
