Renovated Three-Unit
For Sale
$625,000
10-12 River Street, Agawam, MA 01001
Updated three-family property with refreshed systems, kitchens, baths, and hardwood flooring.
Property Size4,176 SF
Price / SF$149.66
Days on Market169
Property Features for 10-12 River Street
General Information
Standard status
Active
Size
4,176 SF
Total Parking Spaces
12
Property subtype
Multi-family / 3 Family
Zoning
BA
Net Operating Income
$63,540
Units
Unit Mix
2 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,164
Amenities
No
Range, Microwave, Refrigerator, Dishwasher
3.0
Full, Bulkhead, Unfinished Basement
Living Room, Kitchen
3
3.00
Frame
Rubber
Corner Lot, Level
Rain Gutters, Porch - Screened
Screened
Building Details
Year Built
1912
Listing Agency:
Naples Realty Group
(413) 650-1314
Listed By:
Ryan McDowell · License #9554952
(413) 650-1314
Source:
Compass
Added: Mar 15
Changed: Aug 29
Last Checked: Aug 29 at 9:16PM
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 Naples Realty Group
Investment Insights
Based on property information with market context.
Located at 10-12 River Street in Agawam, this 4,176-square-foot triplex contains three residential units within a 1912 building. The first-floor residence has three bedrooms, one full bathroom, a redesigned kitchen with granite counters and upgraded cabinetry, plus a living and dining area with refinished hardwood floors. The second-floor unit includes two bedrooms, one bathroom, hardwood flooring, and storage. The third-floor residence follows the first-floor layout with three bedrooms, one bathroom, an updated kitchen and bath, and refinished hardwood flooring.
Property improvements include vinyl siding, replacement windows, gas furnaces, hot water tanks, and updated plumbing and electrical service. Additional features include a full unfinished basement with bulkhead access, a screened porch, rain gutters, and a level corner lot. The property is zoned BA and is near shopping, walking and jogging trails, parks, and restaurants.
Property improvements include vinyl siding, replacement windows, gas furnaces, hot water tanks, and updated plumbing and electrical service. Additional features include a full unfinished basement with bulkhead access, a screened porch, rain gutters, and a level corner lot. The property is zoned BA and is near shopping, walking and jogging trails, parks, and restaurants.
Key Highlights
- Three‑unit triplex with 4,176 square feet
- Unit mix includes two three‑bedroom residences and one two‑bedroom residence
- Updated kitchens and bathrooms, including granite counters and upgraded cabinetry
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
$54,696
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
8.75%
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%
$1,093,920
$1.1M
Cap Rate 7%
$781,371
$781.4K
Cap Rate 9%
$607,733
$607.7K
Market Conditions
NOI Build-Up for 4,176 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
$82.7K $19.80/SF
− Vacancy
−$4.5K −$1.09/SF
EGI
$78.1K $18.71/SF
− OpEx
−$23.4K −$5.61/SF
NOI
$54.7K $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%
$1,093,920
Cap Rate 7%
$781,371
Cap Rate 9%
$607,733
Alternative Uses
Best Use
Multifamily LT 5
$781.4K
$683.7K – $911.6K
NOI $54,696 @ 7.0% cap · market cap 8.75%
Second Best
Apartment 5plus
$724.1K
$633.6K – $844.8K
NOI $50,689 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $180,163 @ 7.0% cap · market cap 28.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
723
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?
Triplex - Updated three-family property with refreshed systems, kitchens, baths, and hardwood flooring.
Where is this triplex located?
The property is located at 10-12 River Street Agawam, MA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three‑unit triplex with 4,176 square feet; Unit mix includes two three‑bedroom residences and one two‑bedroom residence; Updated kitchens and bathrooms, including granite counters and upgraded cabinetry
