2-Family Duplex with Finished Third
New
For Sale
$596,000
96-98 Walnut Street, Agawam, MA 01001
Duplex with flexible upper-level living areas, separate systems, basement laundry, and a detached garage with loft space.
Property Size3,000 SF
Price / SF$198.67
Days on Market6
Property Features for 96-98 Walnut Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-family
Building Details
Year Built
1920
Listing Agency:
OwnerEntry.com
Listed By:
Dave White
(413) 527-3375
Source:
Taylorrealtors
Added: Sep 12
Changed: Sep 17
Last Checked: Sep 16 at 7:15PM
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
Investment Insights
Based on property information with market context.
Built in 1920, this 3,000 SF duplex offers multiple levels of living space and a flexible layout. The first-floor unit includes 2 bathrooms, while the second-floor unit has 3 bedrooms and 1.5 bathrooms. 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 20amp electric service and a second-floor loft, along with 2 driveways for parking. Separate utility infrastructure includes 3 electric meters, 3 hot water heaters, and 3 heating systems. A basement utility bathroom, coin-operated laundry, and washer/dryer hookups for the second floor add operational convenience. The home will be vacant at sale.
The property includes a 2-car garage with 20amp electric service and a second-floor loft, along with 2 driveways for parking. Separate utility infrastructure includes 3 electric meters, 3 hot water heaters, and 3 heating systems. A basement utility bathroom, coin-operated laundry, and washer/dryer hookups for the second floor add operational convenience. The home will be vacant at sale.
Key Highlights
- 3,000 SF duplex built in 1920
- Finished third floor with 2 bedrooms and a full bathroom
- First‑floor unit has 2 bathrooms; second‑floor unit has 3BR and 1.5 bathrooms
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
$39,293
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
6.59%
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%
$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
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
$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 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%
$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 6.59%
Second Best
Apartment 5plus
$520.2K
$455.2K – $606.9K
NOI $36,415 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,427 @ 7.0% cap · market cap 21.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
Explore this area
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
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 - Duplex with flexible upper-level living areas, separate systems, basement laundry, and a detached garage with loft space.
Where is this duplex located?
The property is located at 96-98 Walnut Street Agawam, MA.
What is the asking price?
The asking price for this property is $596,000.
What are key features of this property?
This property features: 3,000 SF duplex built in 1920; Finished third floor with 2 bedrooms and a full bathroom; First‑floor unit has 2 bathrooms; second‑floor unit has 3BR and 1.5 bathrooms
