4-Unit Multifamily
For Sale
$879,000
655 N Main St, East Longmeadow, MA 01028
Four three-bedroom residences offer updated baths, modern kitchens, private balconies, and refreshed interiors.
Property Size4,036 SF
Price / SF$217.79
Days on Market64
Property Features for 655 N Main St
General Information
Standard status
Active
Size
4,036 SF
Property subtype
4 Family - 4 Units Up/Down
Units
Unit Mix
4 x 3BR/1BA
Multifamily Units
4
Building Details
Building Size
4,036 SF
Year Built
1900
Listing Agency:
Keller Williams Realty
(413) 364-0025
Listed By:
Tanya Harvey Group
(413) 364-0025
Source:
Iverty
Added: Jun 30
Changed: Aug 31
Last Checked: Aug 31 at 3:53PM
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 4,036-square-foot quadplex contains four three-bedroom residences, each with one full bathroom equipped with a tub and shower. Unit interiors include modern kitchens with custom cabinetry and walk-in pantries, along with private balconies. Recent interior work includes fresh paint and newer flooring throughout the apartments.
Exterior improvements include a roof installed in 2025, siding installed in 2025, and newer windows. The property was built in 1900 and will be fully vacant at closing, with three units currently ready for showings. Located on N Main St in East Longmeadow, the property is near shopping, restaurants, parks, schools, and major routes.
Exterior improvements include a roof installed in 2025, siding installed in 2025, and newer windows. The property was built in 1900 and will be fully vacant at closing, with three units currently ready for showings. Located on N Main St in East Longmeadow, the property is near shopping, restaurants, parks, schools, and major routes.
Key Highlights
- Four three‑bedroom units, each with one full bathroom
- 4,036 SF quadplex built in 1900
- 2025 roof and 2025 siding improvements
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
$52,862
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
6.01%
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%
$1,057,240
$1.1M
Cap Rate 7%
$755,171
$755.2K
Cap Rate 9%
$587,356
$587.4K
Market Conditions
NOI Build-Up for 4,036 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
$79.9K $19.80/SF
− Vacancy
−$4.4K −$1.09/SF
EGI
$75.5K $18.71/SF
− OpEx
−$22.7K −$5.61/SF
NOI
$52.9K $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%
$1,057,240
Cap Rate 7%
$755,171
Cap Rate 9%
$587,356
Alternative Uses
Best Use
Multifamily LT 5
$755.2K
$660.8K – $881.0K
NOI $52,862 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$699.9K
$612.4K – $816.5K
NOI $48,990 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,123 @ 7.0% cap · market cap 19.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 01028, MA
16,417
Population
6,051
Households
2.7
Avg Household Size
46
Median Age
47%
College-Educated
94%
High-School Grad
12.9 sq mi
ZIP Area
1,273
Density / Sq Mi
$100,997
Median Household Income
$58,108
Median Earnings
$1,229
Median Rent
$344,100
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?
Quadplex - Four three-bedroom residences offer updated baths, modern kitchens, private balconies, and refreshed interiors.
Where is this quadplex located?
The property is located at 655 N Main St East Longmeadow, MA.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Four three‑bedroom units, each with one full bathroom; 4,036 SF quadplex built in 1900; 2025 roof and 2025 siding improvements
