Two-Unit Duplex with Enclosed
New
For Sale
$349,900
58-60 Somerset Street, Springfield, MA 01108
Two three-bedroom apartments include hardwood floors, basement storage, and off-street parking.
Property Size2,444 SF
Price / SF$143.17
Days on Market7
Property Features for 58-60 Somerset Street
General Information
Standard status
Active
Size
2,444 SF
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
updates and improvements needed
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1919
Listing Agency:
Coldwell Banker Realty - Western MA
Listed By:
The Generation Group
(413) 264-6609
Source:
Gregoryhaughton
Added: Oct 10
Changed: Oct 15
Last Checked: Oct 14 at 11:29PM
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 Coldwell Banker Realty - Western MA
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Investment Insights
Based on property information with market context.
Built in 1919, this duplex contains approximately 2,444 square feet of above-grade living area across two apartments. Each unit has three bedrooms and one full bathroom. Hardwood flooring, an enclosed porch, a full basement, and off-street parking are among the property’s features. Updates and improvements are needed, and the property is offered in its present condition.
The second-floor apartment is tenant-occupied; the first-floor unit is available for occupancy or rental use. The property is in Springfield’s Forest Park neighborhood, near the park, shopping, public transportation, and major commuter routes.
The second-floor apartment is tenant-occupied; the first-floor unit is available for occupancy or rental use. The property is in Springfield’s Forest Park neighborhood, near the park, shopping, public transportation, and major commuter routes.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 full bathroom
- Approximately 2,444 sq. ft. of above‑grade living space
- Second‑floor unit is tenant‑occupied; first‑floor unit offers occupancy or rental use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,180
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$643,600
$643.6K
Cap Rate 7%
$459,714
$459.7K
Cap Rate 9%
$357,556
$357.6K
Market Conditions
NOI Build-Up for 2,444 SF
Gross rent
$61.6K $25.20/SF
− Vacancy
−$3.1K −$1.26/SF
EGI
$58.5K $23.94/SF
− OpEx
−$26.3K −$10.77/SF
NOI
$32.2K $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%
$643,600
Cap Rate 7%
$459,714
Cap Rate 9%
$357,556
Alternative Uses
Best Use
Multifamily LT 5
$516.8K
$452.2K – $602.9K
NOI $36,176 @ 7.0% cap · market cap 10.34%
Second Best
Apartment 5plus
$459.7K
$402.3K – $536.3K
NOI $32,180 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$663.7K
$580.7K – $774.3K
NOI $46,456 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Explore this area
Business Placement
Demographics for 01108, MA
27,671
Population
11,332
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
81%
High-School Grad
3.4 sq mi
ZIP Area
8,139
Density / Sq Mi
$51,851
Median Household Income
$34,539
Median Earnings
$1,224
Median Rent
$219,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom apartments include hardwood floors, basement storage, and off-street parking.
Where is this duplex located?
The property is located at 58-60 Somerset Street Springfield, MA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 1 full bathroom; Approximately 2,444 sq. ft. of above‑grade living space; Second‑floor unit is tenant‑occupied; first‑floor unit offers occupancy or rental use
