Two-Unit Residential Income
For Sale
$399,999
Pending
89-91 Hitchcock Street, Holyoke, MA 01040
Two-family home with two two-bedroom units, separate utilities, basement storage, and a walk-up attic for possible expansion.
Property Size3,029 SF
Days on Market82
Property Features for 89-91 Hitchcock Street
General Information
Standard status
Pending
Size
3,029 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
ERA M Connie Laplante Real Estate
Listed By:
Joni Fleming · License #452503707
(413) 315-0570
Source:
Lockandkeyre
Added: Jun 18
Changed: Aug 8
Last Checked: Jul 23 at 5:17AM
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 ERA M Connie Laplante Real Estate
Investment Insights
Based on property information with market context.
This lovingly maintained two-family home offers two spacious, flexible floor plans. Each unit includes two well-appointed bedrooms, a full bathroom, oversized kitchens, generous dining areas, and large living rooms. Additional space includes a basement with valuable storage, along with a walk-up attic that presents potential for future expansion or additional living area. Separate utilities for each unit—including electric, heat, and hot water—are designed to make ownership straightforward.
Located at 89-91 Hitchcock Street in Holyoke, MA 01040, the property provides convenient access to shopping, dining, and major highways.
Showings will begin after June 24, 2026.
Located at 89-91 Hitchcock Street in Holyoke, MA 01040, the property provides convenient access to shopping, dining, and major highways.
Showings will begin after June 24, 2026.
Key Highlights
- Two‑family home built in 1920 with two separate 2‑bedroom units
- Each unit includes a full bath and spacious living and dining areas
- Oversized kitchens in both apartments with flexible floor plans
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
$36,767
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
9.19%
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%
$735,340
$735.3K
Cap Rate 7%
$525,243
$525.2K
Cap Rate 9%
$408,522
$408.5K
Market Conditions
NOI Build-Up for 3,029 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
$70.5K $23.28/SF
− Vacancy
−$3.7K −$1.21/SF
EGI
$66.8K $22.07/SF
− OpEx
−$30.1K −$9.93/SF
NOI
$36.8K $12.14/SF
Area
Hampden County, MA
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$735,340
Cap Rate 7%
$525,243
Cap Rate 9%
$408,522
Alternative Uses
Best Use
Multifamily LT 5
$566.8K
$495.9K – $661.2K
NOI $39,673 @ 7.0% cap · market cap 9.92%
Second Best
Apartment 5plus
$525.2K
$459.6K – $612.8K
NOI $36,767 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,678 @ 7.0% cap · market cap 32.67%
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
699
Businesses Nearby
Explore this area
Business Placement
Demographics for 01040, MA
38,238
Population
17,057
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
79%
High-School Grad
21.2 sq mi
ZIP Area
1,804
Density / Sq Mi
$51,892
Median Household Income
$41,801
Median Earnings
$1,016
Median Rent
$255,300
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-family home with two two-bedroom units, separate utilities, basement storage, and a walk-up attic for possible expansion.
Where is this duplex located?
The property is located at 89-91 Hitchcock Street Holyoke, MA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Two‑family home built in 1920 with two separate 2‑bedroom units; Each unit includes a full bath and spacious living and dining areas; Oversized kitchens in both apartments with flexible floor plans
