Vacant Two-Family
For Sale
$399,900
92-94 Manchester Terrace, Springfield, MA 01108
Two apartments feature updated kitchens, hardwood floors, and separate utility services.
Property Size2,371 SF
Price / SF$168.66
Days on Market8
Property Features for 92-94 Manchester Terrace
General Information
Standard status
Active
Size
2,371 SF
Property subtype
Multi-family
Building Details
Year Built
1923
Listing Agency:
Berkshire Hathaway HomeServices Realty Professionals
Listed By:
Chester Ardolino · License #906177
(413) 221-0310
Source:
Cbcommunityrealtors
Added: Sep 28
Changed: Oct 4
Last Checked: Oct 4 at 10:24AM
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 Berkshire Hathaway HomeServices Realty Professionals
Investment Insights
Based on property information with market context.
This two-family property contains two vacant apartments. The first-floor unit has 5 rooms and 2 bedrooms; the upper apartment spans the second and third floors and offers 7 rooms, 4 bedrooms, and 1 bath. Both units have updated kitchens, hardwood flooring, and separate utilities. Exterior features include screened front porches, vinyl siding, replacement windows, an architectural-shingle roof, and a two-car garage.
The property sits on a corner lot at 92-94 Manchester Terrace in Springfield, near the East Longmeadow line. It was built in 1923.
The property sits on a corner lot at 92-94 Manchester Terrace in Springfield, near the East Longmeadow line. It was built in 1923.
Key Highlights
- Both apartments are vacant
- First‑floor unit has 5 rooms and 2 bedrooms
- Second- and third‑floor apartment has 7 rooms, 4 bedrooms, and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,095
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,900
$701.9K
Cap Rate 7%
$501,357
$501.4K
Cap Rate 9%
$389,944
$389.9K
Market Conditions
NOI Build-Up for 2,371 SF
Gross rent
$52.6K $22.20/SF
− Vacancy
−$2.5K −$1.05/SF
EGI
$50.1K $21.15/SF
− OpEx
−$15.0K −$6.34/SF
NOI
$35.1K $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 Rate 5%
$701,900
Cap Rate 7%
$501,357
Cap Rate 9%
$389,944
Alternative Uses
Best Use
Multifamily LT 5
$501.4K
$438.7K – $584.9K
NOI $35,095 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$446.0K
$390.2K – $520.3K
NOI $31,219 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$643.8K
$563.4K – $751.1K
NOI $45,068 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
Business Placement
Demographics for 01108, MA
27,671
Population
11,332
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
81%
High-School Grad
3.4 sq mi
ZIP Area
8,139
Density / Sq Mi
$51,851
Median Household Income
$34,539
Median Earnings
$1,224
Median Rent
$219,500
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 apartments feature updated kitchens, hardwood floors, and separate utility services.
Where is this duplex located?
The property is located at 92-94 Manchester Terrace 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: Both apartments are vacant; First‑floor unit has 5 rooms and 2 bedrooms; Second- and third‑floor apartment has 7 rooms, 4 bedrooms, and 1 bath
