Building Details

Year Built 1968

Buildings 1

Listing Agency: Fathom Realty Show Phone

Listed By: Erica Rodriguez Show Phone

Source: Lockandkeyre

Added: Sep 14 Changed: Oct 4 Last Checked: Oct 4 at 9:43AM

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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 Fathom Realty

Investment Insights

Based on property information with market context.

This 1,710-SF duplex, built in 1968, contains two residential units with a two-bedroom layout in each. One unit adds a half bath and finished basement space, while both apartments feature updated kitchens and replacement windows. The roof is approximately 10 years old, supporting the property's history of ongoing maintenance.

Located at 61-63 Wilson St in Springfield, the property offers access to major highways and the Mass Pike. Shops, restaurants, parks, and schools are within a short drive, with the address positioned near the Liberty Heights and East Springfield neighborhood line.

Key Highlights

• Two‑unit duplex with 1,710 SF of living area
• Each unit includes 2 bedrooms
• One unit features an extra 1/2 bath and finished basement

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,311

Cap Rate

5.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$506,220 $506.2K

Cap Rate 7%

$361,586 $361.6K

Cap Rate 9%

$281,233 $281.2K

Market Conditions

NOI Build-Up for 1,710 SF

Gross rent

$38.0K $22.20/SF

− Vacancy

−$1.8K −$1.05/SF

EGI

$36.2K $21.15/SF

− OpEx

−$10.8K −$6.34/SF

NOI

$25.3K $14.80/SF

Area

Springfield, MA

Vacancy

4.75%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$506,220

Cap Rate 7%

$361,586

Cap Rate 9%

$281,233

Alternative Uses

Best Use

Multifamily LT 5

$361.6K

$316.4K – $421.9K (±1% cap)

NOI $25,311 @ 7.0% cap · market cap 5.96%

Second Best

Apartment 5plus

$321.7K

$281.5K – $375.3K (±1% cap)

NOI $22,516 @ 7.0% cap · market cap 5.30%

Theoretical Best

Office A

$464.3K

$406.3K – $541.7K (±1% cap)

NOI $32,504 @ 7.0% cap · market cap 7.65%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Skin Care Clinic Furniture & Home Goods Computer & Electronic Repair Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

490

Businesses Nearby

Explore this area Business Placement

Demographics for 01104, MA

23,598

Population

9,562

Households

2.5

Avg Household Size

38

Median Age

13%

College-Educated

77%

High-School Grad

5.2 sq mi

ZIP Area

4,538

Density / Sq Mi

$47,530

Median Household Income

$37,463

Median Earnings

$1,004

Median Rent

$210,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Updated kitchens, replacement windows, and convenient highway access support this well-maintained residential income property.

Where is this duplex located?

The property is located at 61-63 Wilson St Springfield, MA.

What is the asking price?

The asking price for this property is $424,900.

What are key features of this property?

This property features: Two‑unit duplex with 1,710 SF of living area; Each unit includes 2 bedrooms; One unit features an extra 1/2 bath and finished basement