Building Details

Year Built 1980

Listing Agency: Property Works New England p***@gmail.com Show Phone

Listed By: John Oliveri · License #0758662 Show Phone

Source: Compass

Added: Mar 15 Changed: Aug 29 Last Checked: Aug 31 at 1:45AM

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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 Property Works New England

Investment Insights

Based on property information with market context.

This 1,500-square-foot duplex contains two residential units, each arranged with two bedrooms, one full bathroom, and 750 square feet of interior space. The building dates to 1980 and features frame construction, shingle siding, vinyl and carpet finishes, and a level corner lot. Each unit includes a wood deck.

Located at 657-659 Springfield Street in Feeding Hills, Massachusetts, the property provides access to nearby highways and is close to Six Flags New England and Robinson State Park, including its walking trails and scenic views. The property is designated BA and is offered subject to a 3-day First Look Period.

Key Highlights

• Two‑unit duplex totaling 1,500 square feet
• Each unit includes 2 bedrooms, 1 full bathroom, and 750 square feet
• Built in 1980 with frame construction and shingle siding

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

$19,647

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

6.89%

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%

$392,940 $392.9K

Cap Rate 7%

$280,671 $280.7K

Cap Rate 9%

$218,300 $218.3K

Market Conditions

NOI Build-Up for 1,500 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

$29.7K $19.80/SF

− Vacancy

−$1.6K −$1.09/SF

EGI

$28.1K $18.71/SF

− OpEx

−$8.4K −$5.61/SF

NOI

$19.6K $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%

$392,940

Cap Rate 7%

$280,671

Cap Rate 9%

$218,300

Alternative Uses

Best Use

Multifamily LT 5

$280.7K

$245.6K – $327.5K (±1% cap)

NOI $19,647 @ 7.0% cap · market cap 6.89%

Second Best

Apartment 5plus

$260.1K

$227.6K – $303.5K (±1% cap)

NOI $18,207 @ 7.0% cap · market cap 6.39%

Theoretical Best

Office A

$924.5K

$808.9K – $1.08M (±1% cap)

NOI $64,714 @ 7.0% cap · market cap 22.71%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Law Firm Dental Office Real Estate Agency Restaurant Parking Lot & Garage Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

271

Businesses Nearby

Explore this area Business Placement

Demographics for 01030, MA

11,708

Population

5,199

Households

2.3

Avg Household Size

46

Median Age

34%

College-Educated

97%

High-School Grad

12.0 sq mi

ZIP Area

976

Density / Sq Mi

$92,485

Median Household Income

$56,324

Median Earnings

$1,124

Median Rent

$315,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - BA-zoned property offering two-bedroom residences with separate outdoor deck areas.

Where is this duplex located?

The property is located at 657-659 Springfield Street Feeding Hills, MA.

What is the asking price?

The asking price for this property is $285,000.

What are key features of this property?

This property features: Two‑unit duplex totaling 1,500 square feet; Each unit includes 2 bedrooms, 1 full bathroom, and 750 square feet; Built in 1980 with frame construction and shingle siding