Fully Occupied
For Sale
$425,000
884-886 Saint James Ave, Springfield, MA 01104
Two-unit residential property near shopping, restaurants, medical centers, and major highways.
Property Size1,740 SF
Price / SF$244.25
Days on Market140
Property Features for 884-886 Saint James Ave
General Information
Standard status
Active
Size
1,740 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
R1
Occupancy
100%
Net Operating Income
$40,800
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,171
Building Details
Building Size
1,740 SF
Year Built
1987
Stories
4
Listing Agency:
Naples Realty Group
Listed By:
Sheila Perez
Source:
Dohertyproperties
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 31 at 12:34PM
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 Naples Realty Group
Investment Insights
Based on property information with market context.
This duplex at 884-886 Saint James Avenue contains two residential units totaling 1,740 square feet. Built in 1987, the property is currently fully rented, with each unit offering a functional residential layout. The property is described as well maintained.
The Springfield location provides access to major highways, medical centers, shopping, restaurants, and everyday amenities. Its current occupancy and two-unit configuration provide a straightforward multifamily property profile for buyers seeking an existing residential rental asset.
The Springfield location provides access to major highways, medical centers, shopping, restaurants, and everyday amenities. Its current occupancy and two-unit configuration provide a straightforward multifamily property profile for buyers seeking an existing residential rental asset.
Key Highlights
- Fully occupied duplex with both units currently rented
- 1,740 square feet across two residential units
- Built in 1987
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
$25,755
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
6.06%
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%
$515,100
$515.1K
Cap Rate 7%
$367,929
$367.9K
Cap Rate 9%
$286,167
$286.2K
Market Conditions
NOI Build-Up for 1,740 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
$38.6K $22.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$36.8K $21.15/SF
− OpEx
−$11.0K −$6.34/SF
NOI
$25.8K $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 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%
$515,100
Cap Rate 7%
$367,929
Cap Rate 9%
$286,167
Alternative Uses
Best Use
Multifamily LT 5
$367.9K
$321.9K – $429.3K
NOI $25,755 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$327.3K
$286.4K – $381.9K
NOI $22,911 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$472.5K
$413.4K – $551.2K
NOI $33,074 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Explore this area
Business Placement
Demographics for 01104, MA
23,598
Population
9,562
Households
2.5
Avg Household Size
38
Median Age
13%
College-Educated
77%
High-School Grad
5.2 sq mi
ZIP Area
4,538
Density / Sq Mi
$47,530
Median Household Income
$37,463
Median Earnings
$1,004
Median Rent
$210,800
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 - Two-unit residential property near shopping, restaurants, medical centers, and major highways.
Where is this duplex located?
The property is located at 884-886 Saint James Ave Springfield, MA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Fully occupied duplex with both units currently rented; 1,740 square feet across two residential units; Built in 1987
