Updated Triplex Near Forest
For Sale
$405,000
Pending
29 Warriner Ave, Springfield, MA 01108
Three-family property with recent updates and Section 8 tenants.
Property Size2,813 SF
Lot Size0.08 Acres
Days on Market320
Property Features for 29 Warriner Ave
General Information
Standard status
Pending
Size
2,813 SF
Lot size
0.08 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,731
Building Details
Building Size
2,813 SF
Year Built
1897
Stories
3
Units
3
Listed By:
Wayne Lawrence
(413) 530-3962
Source:
Elliman
Added: Nov 28, 2025
Changed: Oct 2
Last Checked: Oct 12 at 9:12PM
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 Wayne Lawrence
Investment Insights
Based on property information with market context.
This is a three-family residential income property, offering a potential investment opportunity. The property benefits from recent updates and comes with existing Section 8 tenants. Located approximately 1.2 miles from the entrance of Forest Park and 1 mile from the MGM Casino, the property features separate utilities for each unit.
Key Highlights
- Great investment property with Section 8 tenants in place
- Separate utilities for each unit
- Proximity to Forest Park (1.2 miles)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,039
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,780
$740.8K
Cap Rate 7%
$529,129
$529.1K
Cap Rate 9%
$411,544
$411.5K
Market Conditions
NOI Build-Up for 2,813 SF
Gross rent
$70.9K $25.20/SF
− Vacancy
−$3.5K −$1.26/SF
EGI
$67.3K $23.94/SF
− OpEx
−$30.3K −$10.77/SF
NOI
$37.0K $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%
$740,780
Cap Rate 7%
$529,129
Cap Rate 9%
$411,544
Alternative Uses
Best Use
Multifamily LT 5
$594.8K
$520.5K – $694.0K
NOI $41,638 @ 7.0% cap · market cap 10.28%
Second Best
Apartment 5plus
$529.1K
$463.0K – $617.3K
NOI $37,039 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$763.9K
$668.4K – $891.2K
NOI $53,470 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,137
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with recent updates and Section 8 tenants.
Where is this triplex located?
The property is located at 29 Warriner Ave Springfield, MA.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Great investment property with Section 8 tenants in place; Separate utilities for each unit; Proximity to Forest Park (1.2 miles)
