Three-Family Residential Income
For Sale
$429,000
Pending
10 Revere St, Springfield, MA 01108
Three spacious units each offer 2 bedrooms, a full bath, living and dining space, plus an eat-in kitchen and porch.
Property Size2,857 SF
Days on Market19
Property Features for 10 Revere St
General Information
Standard status
Pending
Size
2,857 SF
Property subtype
Investment
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,419
Amenities
covered front porch
off-street parking
fenced yard
Building Details
Building Size
2,857 SF
Year Built
1899
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
Lamacchia Realty, Inc.
(413) 328-1586
Listed By:
Daniel Rodriguez · License #9070849
(413) 328-1586
Source:
Elliman
Added: Jul 25
Changed: Aug 8
Last Checked: Jul 29 at 10:12AM
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 Lamacchia Realty, Inc.
Investment Insights
Based on property information with market context.
This three-family home provides spacious, apartment-style living across three separate units, with each unit featuring two bedrooms, a full bath, a bright living room, a formal dining room, and an eat-in kitchen. Lead certificates are in place for the property.
Outside, you’ll find a covered front porch, off-street parking, and a fenced yard, offering practical day-to-day convenience for tenants. The home also scores 87 for walkability, 60 for transit, and 53 for bikeability.
The overall configuration supports a straightforward multifamily setup, with consistent layouts across units that can help simplify occupancy and everyday management.
Outside, you’ll find a covered front porch, off-street parking, and a fenced yard, offering practical day-to-day convenience for tenants. The home also scores 87 for walkability, 60 for transit, and 53 for bikeability.
The overall configuration supports a straightforward multifamily setup, with consistent layouts across units that can help simplify occupancy and everyday management.
Key Highlights
- 1899‑built three‑family home with lead certificates
- Three units, each with 2 bedrooms and a full bath
- Each unit includes a bright living room, formal dining room, and eat‑in kitchen
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
$37,618
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
8.77%
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%
$752,360
$752.4K
Cap Rate 7%
$537,400
$537.4K
Cap Rate 9%
$417,978
$418.0K
Market Conditions
NOI Build-Up for 2,857 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
$72.0K $25.20/SF
− Vacancy
−$3.6K −$1.26/SF
EGI
$68.4K $23.94/SF
− OpEx
−$30.8K −$10.77/SF
NOI
$37.6K $13.17/SF
Area
Springfield, MA
Vacancy
5.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$752,360
Cap Rate 7%
$537,400
Cap Rate 9%
$417,978
Alternative Uses
Best Use
Multifamily LT 5
$604.1K
$528.6K – $704.8K
NOI $42,289 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$537.4K
$470.2K – $627.0K
NOI $37,618 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$775.8K
$678.8K – $905.1K
NOI $54,306 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
785
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?
Triplex - Three spacious units each offer 2 bedrooms, a full bath, living and dining space, plus an eat-in kitchen and porch.
Where is this triplex located?
The property is located at 10 Revere St Springfield, MA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 1899‑built three‑family home with lead certificates; Three units, each with 2 bedrooms and a full bath; Each unit includes a bright living room, formal dining room, and eat‑in kitchen
