Spacious Updated Springfield Two-Family
46-48 Suffolk Street, Springfield, MA 01109
Updated two-family home in Springfield with flexible living arrangements.
Type:Multi-family / 2 Family
Property size:
2,661 SFPrice / SF:
$170/SF- Added:
- Mar 19, 2026
- Days on Market:
- 77
- Last Refresh:
- Mar 25 at 12:21 pm
Property Features for 46-48 Suffolk Street
General Information
- Standard status
- Active
- Size
- 2,661 SF
- Property subtype
- Multi-family / 2 Family
Building Details
- Year Built
- 1923
Listing agent Patriot Living Group License #9559058 (413) 282-8080
Listing office Lock and Key Realty Inc. (413) 282-8080
Listing date Mar 19, 2026
Source Compass
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 Lock and Key Realty Inc.
HighLights
- Spacious 2‑family property featuring one 3‑bedroom unit and one 5‑bedroom unit.
- Both units are freshly updated with modern finishes and move‑in‑ready appeal.
- Ideal for owner‑occupants or investors seeking rental income.
- Convenient location near local amenities, schools, and major routes.
- Features hardwood floors, insulated windows and doors, and updated kitchens with stone/granite counters.
- Includes a full basement with walk‑out access and exterior features like a fenced yard, porch, and covered patio/deck.
Overview
This two-family property in Springfield offers flexibility and value. The well-maintained home features two units: one with 3 bedrooms and the other with 5 bedrooms. Both units have been updated with modern finishes and refreshed interiors, presenting a move-in-ready appeal. The layouts provide living space, making each unit functional for various living arrangements. The property is suitable for owner-occupants or investors seeking rental income. It is located near local amenities, schools, and major routes. The property size is 2,661 square feet.
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 | $59.1k | $22.20 |
| − Vacancy | −$2.8k | −$1.05 |
| EGI | $56.3k | $21.15 |
| − OpEx | −$16.9k | −$6.34 |
| NOI | $39.4k | $14.80 |
2,661 SF · lease $22.20/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$562.7K
$492.4K – $656.5K
NOI $39,388 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$500.5K
$438.0K – $584.0K
NOI $35,037 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$722.6K
$632.3K – $843.0K
NOI $50,580 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Hampden
- State
- Massachusetts
- Longitude
- -72.5523165
- Latitude
- 42.1114406
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Updated two-family home in Springfield with flexible living arrangements.
Where is this duplex located?
The property is located at 46-48 Suffolk Street Springfield, MA.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Spacious 2‑family property featuring one 3‑bedroom unit and one **5‑bedroom unit**.; Both units are **freshly updated with modern finishes** and move‑in‑ready appeal.; Ideal for owner‑occupants or investors seeking rental income.
