Income-Generating Multifamily
485 Bay Street Springfield, MA 01109
485 Bay Street, Springfield, MA, 01109
$399,000
For Sale
$399,000
Well-maintained duplex with income potential near amenities and transportation.
Property Size2,670 SF
Price / SF$149.44
Days on Market86
Property Features for 485 Bay Street
General Information
- Standard status
- Active
- Size
- 2,670 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1922
Listing Agency
Naples Realty Group
(413) 355-4909
Listed by
Lino Carrasquillo
(413) 355-4909
Source
Alliancepartnersre
Added: Apr 23 Checked: Jul 16 at 10:38 am
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 Naples Realty Group
Investment Insights
Based on property information with market context.
This well-maintained multifamily property presents a strong income opportunity. The property consists of two units featuring spacious layouts and separate utilities. Off-street parking is available. The location provides convenient access to shopping, public transportation, schools, and major routes. This property is suitable for investors or owner-occupants seeking to build equity while generating rental income. The property offers a solid structure with potential for increased rents or value-add improvements. It is located in a convenient Springfield location with easy access to local amenities and highways. The property size is 2670 square feet.
Key Highlights
- Strong income potential from a multi‑family property
- Two units with spacious layouts
- Separate utilities for each unit
Local Financial Insights For Apartment 5plus
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 | $67.3k | $25.20 |
| − Vacancy | −$3.4k | −$1.26 |
| EGI | $63.9k | $23.94 |
| − OpEx | −$28.8k | −$10.77 |
| NOI | $35.2k | $13.17 |
2,670 SF · lease $25.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$564.6K
$494.0K – $658.7K
NOI $39,521 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$502.2K
$439.5K – $585.9K
NOI $35,156 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$725.0K
$634.4K – $845.9K
NOI $50,751 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained duplex with income potential near amenities and transportation.
Where is this duplex located?
The property is located at 485 Bay Street Springfield, MA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Strong income potential from a multi‑family property; Two units with spacious layouts; Separate utilities for each unit
