Duplex with Detached
For Sale
$299,000
90 Andrew St, Springfield, MA 01109
Two units have separate utilities, with one offering an additional flexible room.
Property Size1,461 SF
Price / SF$204.65
Days on Market66
Property Features for 90 Andrew St
General Information
Standard status
Active
Size
1,461 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$28,800
Taxes and HOA fees
Annual Taxes
$3,691
Building Details
Building Size
1,461 SF
Year Built
1920
Stories
2
Listing Agency:
REMAX Executive Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 27
Changed: Aug 31
Last Checked: Aug 31 at 12:38PM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This 1,461-square-foot duplex was built in 1920 and sits on a corner lot. Each unit has its own utilities, and one includes an extra room that can function as a second bedroom, office, or flexible living area. Both units are currently occupied, with one tenant in the process of relocating, which may create vacancy at closing.
A detached two-story concrete block outbuilding measuring 26' x 50' is positioned at the rear of the property and has electricity. Its location on the corner lot provides direct access and supports potential contractor, workshop, warehouse, storage, or other income-producing uses. The property is zoned R2 and includes an additional structure beyond the residential units.
A detached two-story concrete block outbuilding measuring 26' x 50' is positioned at the rear of the property and has electricity. Its location on the corner lot provides direct access and supports potential contractor, workshop, warehouse, storage, or other income-producing uses. The property is zoned R2 and includes an additional structure beyond the residential units.
Key Highlights
- 1,461 SF duplex built in 1920
- Separate utilities serve each unit
- One unit includes an additional room for bedroom, office, or flex use
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
$21,626
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
7.23%
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%
$432,520
$432.5K
Cap Rate 7%
$308,943
$308.9K
Cap Rate 9%
$240,289
$240.3K
Market Conditions
NOI Build-Up for 1,461 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
$32.4K $22.20/SF
− Vacancy
−$1.5K −$1.05/SF
EGI
$30.9K $21.15/SF
− OpEx
−$9.3K −$6.34/SF
NOI
$21.6K $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%
$432,520
Cap Rate 7%
$308,943
Cap Rate 9%
$240,289
Alternative Uses
Best Use
Multifamily LT 5
$308.9K
$270.3K – $360.4K
NOI $21,626 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$274.8K
$240.5K – $320.6K
NOI $19,237 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$396.7K
$347.1K – $462.9K
NOI $27,771 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
727
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two units have separate utilities, with one offering an additional flexible room.
Where is this duplex located?
The property is located at 90 Andrew St Springfield, MA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,461 SF duplex built in 1920; Separate utilities serve each unit; One unit includes an additional room for bedroom, office, or flex use
