Building Details

Building Size 1,892 SF

Year Built 1876

Stories 3

Listing Agency: eXp Realty LLC Show Phone

Listed By: Juan Lopera-Martinez Show Phone

Source: Churchillprop

Added: May 29 Changed: Oct 6 Last Checked: Oct 16 at 6:32AM

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Investment Insights

Based on property information with market context.

Built in 1876, this two-family property contains two residential units with a combined 1,892 square feet, six bedrooms, and two full bathrooms. The configuration supports separate living arrangements within one residential income property and is zoned R1.

Located at 64 Thompson St in Springfield, the property is near downtown, MGM Springfield, Baystate Medical Center, Springfield College, Western New England University, Forest Park, and the Naismith Memorial Basketball Hall of Fame. Access to I-91, I-291, Route 20, Union Station, shopping, dining, and public transportation adds connectivity for residents and commuters.

Key Highlights

• Two residential units with 6 bedrooms and 2 full bathrooms
• 1,892 square feet of total property size
• Built in 1876

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,005

Cap Rate

6.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$560,100 $560.1K

Cap Rate 7%

$400,071 $400.1K

Cap Rate 9%

$311,167 $311.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,892 SF

Gross rent

$42.0K $22.20/SF

− Vacancy

−$2.0K −$1.05/SF

EGI

$40.0K $21.15/SF

− OpEx

−$12.0K −$6.34/SF

NOI

$28.0K $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%

$560,100

Cap Rate 7%

$400,071

Cap Rate 9%

$311,167

Alternative Uses

Best Use

Multifamily LT 5

$400.1K

$350.1K – $466.8K (±1% cap)

NOI $28,005 @ 7.0% cap · market cap 6.83%

Second Best

Apartment 5plus

$355.9K

$311.4K – $415.2K (±1% cap)

NOI $24,912 @ 7.0% cap · market cap 6.08%

Theoretical Best

Office A

$513.8K

$449.5K – $599.4K (±1% cap)

NOI $35,963 @ 7.0% cap · market cap 8.77%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Kitchen & Bath Showroom Real Estate Agency Garden Center (Bike/Boat/Book/etc) Store Furniture & Home Goods Computer & Electronic Repair

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

1,150

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two residential units provide six bedrooms and two full bathrooms.

Where is this duplex located?

The property is located at 64 Thompson St Springfield, MA.

What is the asking price?

The asking price for this property is $410,000.

What are key features of this property?

This property features: Two residential units with 6 bedrooms and 2 full bathrooms; 1,892 square feet of total property size; Built in 1876