Four-Unit Quadplex with
For Sale
$475,000
Pending
63 Worcester Street, West Springfield, MA 01089
Four one-bedroom units offer railroad-style layouts, private laundry connections, and access to a sizable yard.
Property Size3,322 SF
Days on Market203
Property Features for 63 Worcester Street
General Information
Standard status
Pending
Size
3,322 SF
Total Parking Spaces
8
Property subtype
Multi-family / 4 Family
Net Operating Income
$37,164
Units
Unit Mix
4 x 1 bedroom
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,739
Amenities
washer and dryer connections
No
Vinyl, Vinyl / VCT, Carpet, Laminate, Stone/Ceramic Tile
Range, Refrigerator
4.0
Insulated Windows
Full
Walk-Up Attic, Ceiling Fan(s), Bathroom with Shower Stall, Pantry, Bathroom With Tub & Shower, Living Room, Dining Room, Kitchen, Laundry Room
4
4.00
Frame
Shingle
Cleared, Level
Rain Gutters, Porch
Porch
Building Details
Year Built
1800
Buildings
1
Listing Agency:
Keller Williams Realty
(413) 585-0022
Listed By:
Carrie A. Blair · License #9090596
(413) 585-0022
Source:
Compass
Added: Feb 8
Changed: Aug 29
Last Checked: Aug 29 at 4:47PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 3,322-square-foot quadplex contains four units, each arranged in a railroad-style configuration with four rooms and one bedroom. Unit features include living, dining, kitchen, and laundry areas, along with a bathroom, pantry, ceiling fan, and a mix of vinyl, VCT, carpet, laminate, and stone or ceramic tile finishes. Range and refrigerator appliances are included, and every unit has washer and dryer connections. The property was built in 1800 and includes insulated windows, a walk-up attic, porch space, and rain gutters.
The property sits on an oversized, cleared, level lot at 63 Worcester Street in West Springfield, Massachusetts. Exterior features include a shingle-covered frame structure, generous off-street parking, and a sizable yard. The location provides access to major highways, shopping, schools, and everyday amenities. The yard may accommodate future expansion, a garage, additional parking, or a possible ADU, subject to buyer due diligence.
The property sits on an oversized, cleared, level lot at 63 Worcester Street in West Springfield, Massachusetts. Exterior features include a shingle-covered frame structure, generous off-street parking, and a sizable yard. The location provides access to major highways, shopping, schools, and everyday amenities. The yard may accommodate future expansion, a garage, additional parking, or a possible ADU, subject to buyer due diligence.
Key Highlights
- Four‑unit quadplex with 3,322 square feet
- Each unit has four rooms and one bedroom
- Washer and dryer connections in all 4 units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,511
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$870,220
$870.2K
Cap Rate 7%
$621,586
$621.6K
Cap Rate 9%
$483,456
$483.5K
Market Conditions
NOI Build-Up for 3,322 SF
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.
Gross rent
$65.8K $19.80/SF
− Vacancy
−$3.6K −$1.09/SF
EGI
$62.2K $18.71/SF
− OpEx
−$18.6K −$5.61/SF
NOI
$43.5K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$870,220
Cap Rate 7%
$621,586
Cap Rate 9%
$483,456
Alternative Uses
Best Use
Multifamily LT 5
$621.6K
$543.9K – $725.2K
NOI $43,511 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$576.0K
$504.0K – $672.1K
NOI $40,323 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,319 @ 7.0% cap · market cap 30.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,231
Businesses Nearby
Explore this area
Business Placement
Demographics for 01089, MA
28,835
Population
13,095
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
91%
High-School Grad
16.7 sq mi
ZIP Area
1,727
Density / Sq Mi
$70,401
Median Household Income
$43,186
Median Earnings
$1,121
Median Rent
$307,900
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?
Quadplex - Four one-bedroom units offer railroad-style layouts, private laundry connections, and access to a sizable yard.
Where is this quadplex located?
The property is located at 63 Worcester Street West Springfield, MA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,322 square feet; Each unit has four rooms and one bedroom; Washer and dryer connections in all 4 units
