Duplex with Updated
650 Union Street, Springfield, MA 01109
For Sale
New
$379,999
Both apartments are vacant, with two- and three-bedroom layouts and improvements to the electrical and plumbing systems.
Property Size1,690 SF
Price / SF$224.85
Days on Market7
Property Features for 650 Union Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Amenities
fenced-in backyard
Building Details
Year Built
Listing Agency:
Naples Realty Group
Listed By:
Heather Trombly
(413) 519-7543
Source:
Gogginsrealestate
Added: Nov 3
Changed: Nov 8
Last Checked: Nov 8 at 5:49AM
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 Naples Realty Group
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Investment Insights
Based on property information with market context.
At 650 Union St in Springfield, this 1,690-square-foot duplex contains two vacant apartments. The first-floor unit has 2 bedrooms and 1 full bathroom. Above it, a two-level apartment provides 3 bedrooms and 1 full bathroom. Both interiors have been renovated, with updated kitchens and bathrooms. The property was built in 1920 and also has vinyl siding, a newer roof, and electrical and plumbing improvements.
A fenced backyard adds outdoor space. Local parks, schools, and neighborhood amenities are nearby.
A fenced backyard adds outdoor space. Local parks, schools, and neighborhood amenities are nearby.
Key Highlights
- Two vacant apartments in a 1,690‑square‑foot duplex
- First‑floor apartment has 2 bedrooms and 1 full bathroom
- Two‑level upper apartment has 3 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,015
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,300
$500.3K
Cap Rate 7%
$357,357
$357.4K
Cap Rate 9%
$277,944
$277.9K
Market Conditions
NOI Build-Up for 1,690 SF
Gross rent
$37.5K $22.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$35.7K $21.15/SF
− OpEx
−$10.7K −$6.34/SF
NOI
$25.0K $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%
$500,300
Cap Rate 7%
$357,357
Cap Rate 9%
$277,944
Alternative Uses
Best Use
Multifamily LT 5
$357.4K
$312.7K – $416.9K
NOI $25,015 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$317.9K
$278.2K – $370.9K
NOI $22,252 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$458.9K
$401.6K – $535.4K
NOI $32,124 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
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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
$203,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Springfield, MA
Properties on Market for Duplexes in Springfield
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are vacant, with two- and three-bedroom layouts and improvements to the electrical and plumbing systems.
Where is this duplex located?
The property is located at 650 Union Street Springfield, MA.
What is the asking price?
The asking price for this property is $379,999.
What are key features of this property?
This property features: Two vacant apartments in a 1,690‑square‑foot duplex; First‑floor apartment has 2 bedrooms and 1 full bathroom; Two‑level upper apartment has 3 bedrooms and 1 full bathroom
