Two-Family Residential Income
51-53 Eloise Street Springfield, MA 01118
51-53 Eloise Street, Springfield, MA, 01118
$399,000
Pending
For Sale
$399,000
Pending
Fully vacant two-family home with updated interiors, separate utilities, and dedicated basement spaces.
Property Size1,950 SF
Days on Market212
Property Features for 51-53 Eloise Street
General Information
- Standard status
- Pending
- Size
- 1,950 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1925
Listing agency
Lock and Key Realty Inc.
(413) 282-8080
Listed by
Kathryn Daviau · License #9540655
(413) 282-8080
Source
Compass
Added: Dec 22, 2025 Updated: Jul 21 at 10:09PM Checked: Jul 21 at 10:09PM
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.
Investment Insights
Based on property information with market context.
This fully vacant, freshly updated two-family home is move-in ready. Both units have been refreshed with modern, light-filled kitchens and bathrooms featuring updated color schemes, fresh neutral paint, and updated light fixtures. The first-floor unit includes newly refinished hardwood floors, while the second-floor unit has hardwoods with a fresh coat of poly.
The home has separate utilities for each unit and a clean, divided basement that provides dedicated space for both apartments. Recent improvements include a new roof installed in Fall 2025, a new boiler for unit #1 in 2025, and new garage doors added in 2024.
The property is configured as a duplex with two distinct apartments and independent utility setups, offering flexibility for an owner-occupant or an investor seeking separate unit management.
The home has separate utilities for each unit and a clean, divided basement that provides dedicated space for both apartments. Recent improvements include a new roof installed in Fall 2025, a new boiler for unit #1 in 2025, and new garage doors added in 2024.
The property is configured as a duplex with two distinct apartments and independent utility setups, offering flexibility for an owner-occupant or an investor seeking separate unit management.
Key Highlights
- Fully vacant two‑family home with updated interiors, separate utilities, and a divided full basement with dedicated space for each unit
- Two units with 2 total full bathrooms; first‑floor has newly refinished hardwood floors and second‑floor has hardwoods refinished with fresh poly
- Updated kitchens and bathrooms with wood and tile flooring, plus appliances including a range and refrigerator
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 | $43.3k | $22.20 |
| − Vacancy | −$2.1k | −$1.05 |
| EGI | $41.2k | $21.15 |
| − OpEx | −$12.4k | −$6.34 |
| NOI | $28.9k | $14.80 |
1,950 SF · lease $22.20/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$412.3K
$360.8K – $481.1K
NOI $28,864 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$366.8K
$321.0K – $427.9K
NOI $25,676 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$529.5K
$463.3K – $617.8K
NOI $37,066 @ 7.0% cap · market cap 9.29%
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 - Fully vacant two-family home with updated interiors, separate utilities, and dedicated basement spaces.
Where is this duplex located?
The property is located at 51-53 Eloise 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: Fully vacant two‑family home with updated interiors, separate utilities, and a divided full basement with dedicated space for each unit; Two units with 2 total full bathrooms; first‑floor has newly refinished hardwood floors and second‑floor has hardwoods refinished with fresh poly; Updated kitchens and bathrooms with wood and tile flooring, plus appliances including a range and refrigerator
