Three-Level Duplex with
For Sale
$559,000
Pending
96-98 Walnut St, Agawam, MA 01001
Two-family property with flexible living areas, separate utilities, and basement laundry facilities.
Property Size3,000 SF
Days on Market49
Property Features for 96-98 Walnut St
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,599
Building Details
Building Size
3,000 SF
Year Built
1920
Stories
3
Units
2
Listing Agency:
OwnerEntry.com
Listed By:
Dave White · License #9069443
(617) 542-9300
Source:
Elliman
Added: Sep 15
Changed: Oct 29
Last Checked: Nov 1 at 5:40AM
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 OwnerEntry.com
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Investment Insights
Based on property information with market context.
This two-family property, built in 1920, offers an expansive layout across multiple levels. The first-floor residence includes 2 bathrooms, while the second-floor unit has 3 bedrooms and 1.5 bathrooms; two of those bedrooms do not have closets. That unit also connects to a finished third floor with 2 additional bedrooms and another full bathroom. Historic front and rear staircases provide access to the upper level.
The property includes a 2-car garage with 20-amp electric service and a second-floor loft, along with 2 driveways for additional parking. Building systems include 3 separate electric meters, 3 hot water heaters, and 3 heating systems. The basement has a coin-operated laundry area, a utility bathroom, and washer/dryer hookups serving the second floor. The property will be vacant at closing.
The property includes a 2-car garage with 20-amp electric service and a second-floor loft, along with 2 driveways for additional parking. Building systems include 3 separate electric meters, 3 hot water heaters, and 3 heating systems. The basement has a coin-operated laundry area, a utility bathroom, and washer/dryer hookups serving the second floor. The property will be vacant at closing.
Key Highlights
- Finished third floor adds 2 bedrooms and a full bathroom
- First‑floor unit has 2 bathrooms; second‑floor unit has 3 bedrooms and 1.5 bathrooms
- 3 separate electric meters, 3 hot water heaters, and 3 heating systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,293
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,860
$785.9K
Cap Rate 7%
$561,329
$561.3K
Cap Rate 9%
$436,589
$436.6K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$59.4K $19.80/SF
− Vacancy
−$3.3K −$1.09/SF
EGI
$56.1K $18.71/SF
− OpEx
−$16.8K −$5.61/SF
NOI
$39.3K $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 Rate 5%
$785,860
Cap Rate 7%
$561,329
Cap Rate 9%
$436,589
Alternative Uses
Best Use
Multifamily LT 5
$561.3K
$491.2K – $654.9K
NOI $39,293 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$520.2K
$455.2K – $606.9K
NOI $36,415 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,427 @ 7.0% cap · market cap 23.15%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
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Business Placement
Demographics for 01001, MA
16,984
Population
7,033
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
92%
High-School Grad
11.3 sq mi
ZIP Area
1,503
Density / Sq Mi
$71,924
Median Household Income
$54,266
Median Earnings
$1,305
Median Rent
$270,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with flexible living areas, separate utilities, and basement laundry facilities.
Where is this duplex located?
The property is located at 96-98 Walnut St Agawam, MA.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Finished third floor adds 2 bedrooms and a full bathroom; First‑floor unit has 2 bathrooms; second‑floor unit has 3 bedrooms and 1.5 bathrooms; 3 separate electric meters, 3 hot water heaters, and 3 heating systems
