Duplex with Third-Floor Bonus
New
For Sale
$489,900
741-745 Union St, Springfield, MA 01109
Each residence includes five bedrooms, a separate dining room, and a third-floor family or bonus space.
Property Size3,401 SF
Price / SF$144.05
Days on Market7
Property Features for 741-745 Union St
General Information
Standard status
Active
Size
3,401 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R2
Site & Location
Neighborhood
Mcknight
Utilities to Site
Yes
Units
Unit Mix
2 x 5BR/1.5BA
Multifamily Units
2
Parking per Unit
3
Individually Metered Utilities
gas, electricity
Taxes and HOA fees
Annual Taxes
$3,592
Amenities
Stone/Granite/Solid Counters
Upgraded Cabinets
Bathroom With Tub & Shower
Remodeled
Living Room
Dining Room
Kitchen
Family Room
Building Details
Building Size
3,401 SF
Year Built
1889
Buildings
1
Stories
4
Units
2
Listing Agency:
Kempf-Vanderburgh Realty Consultants, Inc.
Listed By:
Kempf-Vanderburgh Realty Consultants
(413) 297-5200
Source:
Fayesimonrealestate
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 1:10PM
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 Kempf-Vanderburgh Realty Consultants, Inc.
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Investment Insights
Based on property information with market context.
This R2-zoned duplex contains two residences, each with five bedrooms, 1.5 bathrooms, a living room, a separate dining area, and a large kitchen. A family or bonus room occupies the third floor of each unit. Both kitchens have granite counters, and the property also features wood flooring and updated bathrooms. One unit has new appliances. Each residence is served by its own forced-air gas heating system, electrical meter, and gas water heater.
The property includes fenced back yards and separate driveways with parking for three cars each. DeBarry and Swan Elementary Schools are across the street, with access to downtown Springfield and STCC also noted. The building dates to 1889 and has been renovated and deleaded.
The property includes fenced back yards and separate driveways with parking for three cars each. DeBarry and Swan Elementary Schools are across the street, with access to downtown Springfield and STCC also noted. The building dates to 1889 and has been renovated and deleaded.
Key Highlights
- Two duplex units, each with five bedrooms and 1.5 baths
- R2 zoning
- Third‑floor family or bonus room in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,781
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$895,620
$895.6K
Cap Rate 7%
$639,729
$639.7K
Cap Rate 9%
$497,567
$497.6K
Market Conditions
NOI Build-Up for 3,401 SF
Gross rent
$85.7K $25.20/SF
− Vacancy
−$4.3K −$1.26/SF
EGI
$81.4K $23.94/SF
− OpEx
−$36.6K −$10.77/SF
NOI
$44.8K $13.17/SF
Area
Springfield, MA
Vacancy
5.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$895,620
Cap Rate 7%
$639,729
Cap Rate 9%
$497,567
Alternative Uses
Best Use
Multifamily LT 5
$719.2K
$629.3K – $839.0K
NOI $50,341 @ 7.0% cap · market cap 10.28%
Second Best
Apartment 5plus
$639.7K
$559.8K – $746.4K
NOI $44,781 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$923.5K
$808.1K – $1.08M
NOI $64,646 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
848
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 - Each residence includes five bedrooms, a separate dining room, and a third-floor family or bonus space.
Where is this duplex located?
The property is located at 741-745 Union St Springfield, MA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Two duplex units, each with five bedrooms and 1.5 baths; R2 zoning; Third‑floor family or bonus room in each unit
