Three-Unit Residential Income
New
For Sale
$450,000
190 Oak St, Springfield, MA 01151
Residential Income, Springfield, MA
Property Size2,836 SF
Lot Size0.15 Acres
Price / SF$158.67
Days on Market2
Property Features for 190 Oak St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 6, Bedroom 5, Bedroom 2, Bedroom 1, Bathroom 3, Bathroom 2, Bedroom 4, Bathroom 1
Parking
5
Elementary school
Indian Orchard Elementary
Middle school
Jfk
High school
Central High School
Directions
Parker St to Oak St
Subdivision
Indian Orchard
Standard status
Active
APN
2598352
Size
2,836 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5560
Building Details
Year built
1916
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Realty
Listed By:
Laura Stevens
(413) 565-5478
Added: Oct 15
Last Checked: Oct 16 at 7:06AM
MLS# 73591533
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This three-unit residential income property contains 2,836 square feet across a 0.1502-acre lot and was built in 1916. Units 1 and 2 each have two bedrooms, a formal living room, a dining room, an eat-in kitchen with rear porch access, and a full bathroom. Unit 3 has a combined living and dining area, an eat-in kitchen, and a bathroom with a shower stall. The property also includes a yard and a basement with separate laundry connections and storage areas. Unit 2 is vacant; leases for Units 1 and 3 are nearing expiration.
Updates include a newer furnace and hot water tanks, updated electrical, and basement air sealing and insulation following a Mass Save Home Energy Assessment. Two units have lead treatment for Section 8 requirements. The property is zoned R2 and is near shops, parks, public transportation, Route 20, and the Mass Pike.
Updates include a newer furnace and hot water tanks, updated electrical, and basement air sealing and insulation following a Mass Save Home Energy Assessment. Two units have lead treatment for Section 8 requirements. The property is zoned R2 and is near shops, parks, public transportation, Route 20, and the Mass Pike.
Key Highlights
- Three units within 2,836 square feet on a 0.1502‑acre lot
- Built in 1916; zoned R2
- Units 1 and 2 each include two bedrooms, dining rooms, and eat‑in kitchens with rear porch access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,342
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,840
$746.8K
Cap Rate 7%
$533,457
$533.5K
Cap Rate 9%
$414,911
$414.9K
Market Conditions
NOI Build-Up for 2,836 SF
Gross rent
$71.5K $25.20/SF
− Vacancy
−$3.6K −$1.26/SF
EGI
$67.9K $23.94/SF
− OpEx
−$30.6K −$10.77/SF
NOI
$37.3K $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 Rate 5%
$746,840
Cap Rate 7%
$533,457
Cap Rate 9%
$414,911
Alternative Uses
Best Use
Multifamily LT 5
$599.7K
$524.7K – $699.6K
NOI $41,978 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$533.5K
$466.8K – $622.4K
NOI $37,342 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$770.1K
$673.8K – $898.5K
NOI $53,907 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 01151, MA
9,150
Population
3,959
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
77%
High-School Grad
2.4 sq mi
ZIP Area
3,813
Density / Sq Mi
$57,113
Median Household Income
$39,117
Median Earnings
$1,239
Median Rent
$219,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments offer varied layouts, including formal living rooms, eat-in kitchens, and rear porch access in two units.
Where is this triplex located?
The property is located at 190 Oak St Springfield, MA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three units within 2,836 square feet on a 0.1502‑acre lot; Built in 1916; zoned R2; Units 1 and 2 each include two bedrooms, dining rooms, and eat‑in kitchens with rear porch access
