Two-Unit Duplex with Detached
New
For Sale
$319,900
64-66 Lyons Street, Springfield, MA 01151
Each residence has separate utilities and its own in-unit laundry.
Property Size2,128 SF
Price / SF$150.33
Days on Market5
Property Features for 64-66 Lyons Street
General Information
Standard status
Active
Size
2,128 SF
Property subtype
2 Family - 2 Units Up/Down
Property Condition
Severity
Repairs Needed
Evidence
awaits some updating
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
front porch
backyard
Building Details
Year Built
1925
Listing Agency:
Witalisz & Associates, Inc.
(413) 568-0005
Listed By:
Team Witalisz
(413) 883-7677
Source:
Lockandkeyre
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:18PM
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 Witalisz & Associates, Inc.
Investment Insights
Based on property information with market context.
Built in 1925, this two-family property contains 2,128 square feet across two floors. Both residences have living areas, bedrooms with closets, wood flooring, separate utilities, and in-unit laundry. A front porch, detached garage, and backyard are also part of the property. The building is offered in its current condition and requires updating.
Located at 64-66 Lyons Street in Springfield, Massachusetts, the property is configured as two separate residences.
Located at 64-66 Lyons Street in Springfield, Massachusetts, the property is configured as two separate residences.
Key Highlights
- Two‑family property with 2,128 square feet
- Built in 1925
- Separate utilities and in‑unit laundry in each residence
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
$28,019
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
8.76%
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%
$560,380
$560.4K
Cap Rate 7%
$400,271
$400.3K
Cap Rate 9%
$311,322
$311.3K
Market Conditions
NOI Build-Up for 2,128 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
$53.6K $25.20/SF
− Vacancy
−$2.7K −$1.26/SF
EGI
$50.9K $23.94/SF
− OpEx
−$22.9K −$10.77/SF
NOI
$28.0K $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 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%
$560,380
Cap Rate 7%
$400,271
Cap Rate 9%
$311,322
Alternative Uses
Best Use
Multifamily LT 5
$450.0K
$393.7K – $525.0K
NOI $31,498 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$400.3K
$350.2K – $467.0K
NOI $28,019 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$577.8K
$505.6K – $674.2K
NOI $40,449 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
552
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 - Each residence has separate utilities and its own in-unit laundry.
Where is this duplex located?
The property is located at 64-66 Lyons Street Springfield, MA.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Two‑family property with 2,128 square feet; Built in 1925; Separate utilities and in‑unit laundry in each residence
