Two-Unit Duplex with Two-Car
New
For Sale
$399,900
79-81 Garden St, West Springfield, MA 01089
Residential Income, West Springfield, MA
Property Size2,484 SF
Lot Size0.11 Acres
Price / SF$160.99
Days on Market2
Property Features for 79-81 Garden St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 2
Parking
4
Directions
Elm or Route 5 to Garden Street, Garage on Lathrop
Standard status
Active
APN
M:0269 B:1500 L:0036
Size
2,484 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4871
Amenities
fenced yard
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty
(413) 585-0022
Listed By:
Laura Stevens
(413) 565-5478
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 9:06AM
MLS# 73571321
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,484-square-foot duplex was built in 1920 and contains two residential units with three bedrooms in each, providing six bedrooms overall. The property sits on a 0.1148-acre corner lot and includes a two-car garage along with two fenced yard areas. One unit is currently vacant, while the RB zoning supports its residential income-property classification.
The property is located in West Springfield near shopping, major highways, and everyday amenities. Its two-unit configuration, garage, outdoor areas, and existing vacancy create a straightforward setup for continued rental operation or owner occupancy with a second unit generating rental income.
The property is located in West Springfield near shopping, major highways, and everyday amenities. Its two-unit configuration, garage, outdoor areas, and existing vacancy create a straightforward setup for continued rental operation or owner occupancy with a second unit generating rental income.
Key Highlights
- Two‑unit duplex with six total bedrooms
- 2,484 square feet on a 0.1148‑acre corner lot
- Each unit includes 3 bedrooms
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
$32,535
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
8.14%
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%
$650,700
$650.7K
Cap Rate 7%
$464,786
$464.8K
Cap Rate 9%
$361,500
$361.5K
Market Conditions
NOI Build-Up for 2,484 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
$49.2K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$46.5K $18.71/SF
− OpEx
−$13.9K −$5.61/SF
NOI
$32.5K $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%
$650,700
Cap Rate 7%
$464,786
Cap Rate 9%
$361,500
Alternative Uses
Best Use
Multifamily LT 5
$464.8K
$406.7K – $542.3K
NOI $32,535 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$430.7K
$376.9K – $502.5K
NOI $30,151 @ 7.0% cap · market cap 7.54%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,166 @ 7.0% cap · market cap 26.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
Explore this area
Business Placement
Demographics for 01089, MA
28,835
Population
13,095
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
91%
High-School Grad
16.7 sq mi
ZIP Area
1,727
Density / Sq Mi
$70,401
Median Household Income
$43,186
Median Earnings
$1,121
Median Rent
$307,900
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?
Duplex - Corner-lot property with fenced yard sections and one vacant unit.
Where is this duplex located?
The property is located at 79-81 Garden St West Springfield, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex with six total bedrooms; 2,484 square feet on a 0.1148‑acre corner lot; Each unit includes 3 bedrooms
