Two-Family Duplex with Central
New
For Sale
$320,000
55 Florida Street, Springfield, MA 01109
Corner-lot property has separate water meters and heating systems for each unit, plus off-street parking.
Property Size2,086 SF
Price / SF$153.40
Days on Market5
Property Features for 55 Florida Street
General Information
Standard status
Active
Size
2,086 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
central cooling
Building Details
Year Built
1883
Listing Agency:
Today Real Estate,Inc.
Listed By:
Fatumo Sidow
(413) 923-6302
Source:
Gogginsrealestate
Added: Oct 18
Changed: Oct 21
Last Checked: Oct 20 at 10:19PM
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 Today Real Estate,Inc.
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Investment Insights
Based on property information with market context.
This two-family duplex contains 4 bedrooms and 2 full bathrooms across 2,086 square feet. Each unit has its own water meter and heating system, along with central cooling. The property was built in 1883 and is offered in as-is condition.
Set on a corner lot in Springfield’s McKnight neighborhood, the property includes off-street parking and provides access to local amenities, shopping, and major routes.
Set on a corner lot in Springfield’s McKnight neighborhood, the property includes off-street parking and provides access to local amenities, shopping, and major routes.
Key Highlights
- Two‑family property with 4 bedrooms and 2 full bathrooms
- 2,086 square feet; built in 1883
- Separate water meters and individual heating systems for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,466
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,320
$549.3K
Cap Rate 7%
$392,371
$392.4K
Cap Rate 9%
$305,178
$305.2K
Market Conditions
NOI Build-Up for 2,086 SF
Gross rent
$52.6K $25.20/SF
− Vacancy
−$2.6K −$1.26/SF
EGI
$49.9K $23.94/SF
− OpEx
−$22.5K −$10.77/SF
NOI
$27.5K $13.17/SF
Area
Springfield, MA
Vacancy
5.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,320
Cap Rate 7%
$392,371
Cap Rate 9%
$305,178
Alternative Uses
Best Use
Multifamily LT 5
$441.1K
$386.0K – $514.6K
NOI $30,877 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$392.4K
$343.3K – $457.8K
NOI $27,466 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$566.4K
$495.6K – $660.9K
NOI $39,651 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,190
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot property has separate water meters and heating systems for each unit, plus off-street parking.
Where is this duplex located?
The property is located at 55 Florida Street Springfield, MA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two‑family property with 4 bedrooms and 2 full bathrooms; 2,086 square feet; built in 1883; Separate water meters and individual heating systems for each unit
