Two-Unit Duplex
For Sale
$410,000
64 Thompson St, Springfield, MA 01109
Two residential units provide six bedrooms and two full bathrooms.
Property Size1,892 SF
Price / SF$216.70
Days on Market96
Property Features for 64 Thompson St
General Information
Standard status
Active
Size
1,892 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
R1
Net Operating Income
$45,000
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,742
Building Details
Building Size
1,892 SF
Year Built
1876
Stories
3
Listing Agency:
REMAX Executive Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 29
Changed: Aug 31
Last Checked: Aug 31 at 2:16PM
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 REMAX Executive Realty
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.
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 = 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
$28,005
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
6.83%
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%
$560,100
$560.1K
Cap Rate 7%
$400,071
$400.1K
Cap Rate 9%
$311,167
$311.2K
Market Conditions
NOI Build-Up for 1,892 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
$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 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%
$560,100
Cap Rate 7%
$400,071
Cap Rate 9%
$311,167
Alternative Uses
Best Use
Multifamily LT 5
$400.1K
$350.1K – $466.8K
NOI $28,005 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$355.9K
$311.4K – $415.2K
NOI $24,912 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$513.8K
$449.5K – $599.4K
NOI $35,963 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
