Duplex With Private
For Sale
$375,000
Pending
73-75 Melrose St, Springfield, MA 01109
Two-unit property with practical layouts, basement storage, and a private yard.
Property Size2,120 SF
Lot Size0.11 Acres
Days on Market54
Property Features for 73-75 Melrose St
General Information
Standard status
Pending
Size
2,120 SF
Lot size
0.11 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
basement storage
private yard
Building Details
Year Built
1925
Listing Agency:
Todd Mello, Lion Gate Real Estate, Inc
Listed By:
The Goodrich Team
(617) 398-4444
Source:
Goodrichboston
Added: Aug 25
Changed: Oct 16
Last Checked: Oct 16 at 8:11AM
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 Todd Mello, Lion Gate Real Estate, Inc
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Investment Insights
Based on property information with market context.
This two-unit residential income property provides 2,120 square feet of living space, with a combined six bedrooms and two full bathrooms. Each unit offers a practical floor plan with well-proportioned rooms, while basement storage adds useful support space. The property also includes a private yard on a 5,001-square-foot lot.
Built in 1925, the property is located at 73-75 Melrose St in Springfield, Massachusetts, with access to everyday amenities and major routes. Its two-unit configuration and existing outdoor and storage areas provide a straightforward multifamily setup.
Built in 1925, the property is located at 73-75 Melrose St in Springfield, Massachusetts, with access to everyday amenities and major routes. Its two-unit configuration and existing outdoor and storage areas provide a straightforward multifamily setup.
Key Highlights
- Two‑unit property with 6 bedrooms and 2 full bathrooms
- 2,120 sq ft of living space
- Private yard on a 5,001 sq ft lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,380
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,600
$627.6K
Cap Rate 7%
$448,286
$448.3K
Cap Rate 9%
$348,667
$348.7K
Market Conditions
NOI Build-Up for 2,120 SF
Gross rent
$47.1K $22.20/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$44.8K $21.15/SF
− OpEx
−$13.4K −$6.34/SF
NOI
$31.4K $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%
$627,600
Cap Rate 7%
$448,286
Cap Rate 9%
$348,667
Alternative Uses
Best Use
Multifamily LT 5
$448.3K
$392.3K – $523.0K
NOI $31,380 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$398.8K
$348.9K – $465.2K
NOI $27,914 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$575.7K
$503.7K – $671.6K
NOI $40,297 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
719
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with practical layouts, basement storage, and a private yard.
Where is this duplex located?
The property is located at 73-75 Melrose St Springfield, MA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit property with 6 bedrooms and 2 full bathrooms; 2,120 sq ft of living space; Private yard on a 5,001 sq ft lot
