Updated Duplex with Renovated
For Sale
$464,000
524 Goodwin Street, Springfield, MA 01151
Duplex built in 1968 with two updated units featuring modern kitchens and renovated bathrooms.
Property Size1,728 SF
Price / SF$268.52
Days on Market40
Property Features for 524 Goodwin Street
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multi-family
Building Details
Year Built
1968
Tenancy
Multi
Listing Agency:
Gallagher Real Estate
Listed By:
Paulo Villegas
(413) 789-9830
Source:
Parksquarerealty
Added: Jun 23
Changed: Jul 30
Last Checked: Aug 1 at 3:01AM
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 Gallagher Real Estate
Investment Insights
Based on property information with market context.
This updated duplex at 524 Goodwin Street includes two spacious units in a well-maintained building built in 1968. Both units feature modern, updated kitchens and renovated bathrooms, creating a move-in-ready setup for either an owner-occupant or a rental-focused buyer. The layout provides comfortable living spaces within a two-unit structure, supporting flexible use such as living in one unit and renting the other.
The property is located in Springfield, MA, in a neighborhood close to schools, shopping, restaurants, parks, and major highways, offering convenient day-to-day access for residents.
With two functional, updated units under one roof, this duplex can fit first-time buyer needs and investor goals that prioritize immediate livability alongside rental income potential.
The property is located in Springfield, MA, in a neighborhood close to schools, shopping, restaurants, parks, and major highways, offering convenient day-to-day access for residents.
With two functional, updated units under one roof, this duplex can fit first-time buyer needs and investor goals that prioritize immediate livability alongside rental income potential.
Key Highlights
- Two‑unit duplex in Springfield, MA
- Built in 1968
- 1728 total property size
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 | $38.4k | $22.20 |
| − Vacancy | −$1.8k | −$1.05 |
| EGI | $36.5k | $21.15 |
| − OpEx | −$11.0k | −$6.34 |
| NOI | $25.6k | $14.80 |
1,728 SF · lease $22.20/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$365.4K
$319.7K – $426.3K
NOI $25,578 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$325.0K
$284.4K – $379.2K
NOI $22,753 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$469.2K
$410.6K – $547.4K
NOI $32,846 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 01151, MA
9,150
Population
3,959
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
77%
High-School Grad
2.4 sq mi
ZIP Area
3,813
Density / Sq Mi
$57,113
Median Household Income
$39,117
Median Earnings
$1,239
Median Rent
$219,800
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 - Duplex built in 1968 with two updated units featuring modern kitchens and renovated bathrooms.
Where is this duplex located?
The property is located at 524 Goodwin Street Springfield, MA.
What is the asking price?
The asking price for this property is $464,000.
What are key features of this property?
This property features: Two‑unit duplex in Springfield, MA; Built in 1968; 1728 total property size
