What is the estimated cap rate for 62-64 Alderman Street, Springfield, MA 01108?

Based on rent reported on the MLS listing, 62-64 Alderman Street, Springfield, MA 01108 (2 units) has an estimated 2.19% cap rate at its $389,999 list price, assuming $1,500/mo gross rent, 5% vacancy, 20% operating expenses, property taxes. These are estimates, not investment advice.

What is the estimated rent for 62-64 Alderman Street, Springfield, MA 01108?

The MLS listing reports about $1,500/month in total rent for a 2-unit multi-family in 01108. That is in-place rent from the current leases, which can sit below market on a long-held property.

Active

3 Days on market

62-64 Alderman Street Springfield — Photo 1 of 23

$389,999

Investment Analysis — 62-64 Alderman Street

Springfield, MA 01108

Based on rent reported on the MLS listing, a 2-unit multi-family in 01108 carries $1,500/mo in gross rent — about a 2.19% cap rate and $8,555/yr in estimated NOI at the $389,999 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

2,799

Style

2 Family - 2 Units Up/Down

Built

1906

WOW! UPDATED VACANT FIRST FLOOR UNIT!! LEAD CERTIFICATE FOR FIRST FLOOR PRIOR TO CLOSING! Here you have a strong two-family opportunity in Springfield, with each unit featuring 3 bedrooms and 1 full bathroom. The property is ideally situated directly across from the community garden, adding a unique neighborhood amenity and a pleasant outdoor setting just steps from home. PANTRY OFF THE KITCHEN FOR ADDED STORAGE!! Both spacious units offer flexibility for owner-occupants, multi-generational living, or investors looking to add a well-located property to their portfolio. REFINISHED WOOD FLOORS ARE SHINING! Laundry hookups for both units in basement! Conveniently located near shopping, dining, parks, public transportation, and major commuter routes, this property combines practical living with excellent accessibility. Small garage in rear to stay for new owner! Most capital expense items in great shape! Whether you're looking to live in one unit and rent the other or expand your investment holdings, this property offers plenty of potential. Reach out today to schedule a private tour and see what 62-64 Alderman St has to offer! Considering buying, selling, investing or renting? Feel free t

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.

Financials

Original Price$389,999

Annual Taxes$5,125.33

Parking

Garage1

Off-Street4

Interior Specifications

Total Rooms13

FireplacesNone

FlooringHardwood

BasementConcrete, Unfinished

Climate & Utilities

Heating--

Cooling--

WaterPublic

SewerPublic Sewer

Building & Exterior

Construction--

RoofShingle

FoundationBrick/Mortar

ZoningR2

Property & Lot

Acres0.11

SqFt Lot5,001

Lot Features--

Amenities & Appliances

Refrigerator

Geography

Listing Provided By

Listing Agent: Alessio Calabrese

Listing Office: Berkshire Hathaway HomeServices Realty Professionals

MLS® Number: 73576776