Two-Family Residential Income
746-748 Alden St Springfield, MA 01109
746-748 Alden St, Springfield, MA, 01109
$349,900
For Sale
$349,900
Two occupied units each offer two bedrooms and one bathroom, with a small yard and newer heating systems.
Property Size1,820 SF
Price / SF$192.25
Days on Market86
Property Features for 746-748 Alden St
General Information
- Standard status
- Active
- Size
- 1,820 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1966
Listing agency
Lamacchia Realty, Inc.
(508) 612-0821
Listed by
We Close Deals Team
Source
Cjbarrett
Added: Apr 28 Updated: Jul 21 at 7:18AM Checked: Jul 21 at 7:18AM
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 Lamacchia Realty, Inc.
Investment Insights
Based on property information with market context.
This well-maintained two-family property is configured as two separate units, and each unit features two bedrooms and one bathroom. The building is set on a slab and includes a small, easy-to-maintain yard. Newer heating systems are in place, supporting a low-maintenance ownership experience.
The property has water views of the South Branch Mill River and is located just minutes from Western New England University and Springfield College.
Both units are currently occupied on month-to-month agreements, providing immediate rental income with flexibility for future plans.
The property has water views of the South Branch Mill River and is located just minutes from Western New England University and Springfield College.
Both units are currently occupied on month-to-month agreements, providing immediate rental income with flexibility for future plans.
Key Highlights
- 2‑family property built in 1966 with both units occupied on month‑to‑month agreements
- Each unit has 2 bedrooms and 1 bathroom
- Water views of the South Branch Mill River
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.4k | $22.20 |
| − Vacancy | −$1.9k | −$1.05 |
| EGI | $38.5k | $21.15 |
| − OpEx | −$11.5k | −$6.34 |
| NOI | $26.9k | $14.80 |
1,820 SF · lease $22.20/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$384.8K
$336.7K – $449.0K
NOI $26,939 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$342.3K
$299.6K – $399.4K
NOI $23,964 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$494.2K
$432.4K – $576.6K
NOI $34,595 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two occupied units each offer two bedrooms and one bathroom, with a small yard and newer heating systems.
Where is this duplex located?
The property is located at 746-748 Alden St Springfield, MA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2‑family property built in 1966 with both units occupied on month‑to‑month agreements; Each unit has 2 bedrooms and 1 bathroom; Water views of the South Branch Mill River
