Three-Family Residential Income
For Sale
$450,000
Pending
414-416 Hillside Ave, Holyoke, MA 01040
Three-story three-family residence built in 1920 with six bedrooms and a three-car garage, sold as-is and needing work.
Property Size3,134 SF
Days on Market50
Property Features for 414-416 Hillside Ave
General Information
Standard status
Pending
Size
3,134 SF
Total Parking Spaces
3
Property subtype
3 Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1920
Stories
3
Listing Agency:
RE/MAX IGNITE
(413) 391-7928
Listed By:
Maribel Colon · License #9532719
(413) 237-0127
Source:
Lockandkeyre
Added: Jul 18
Changed: Aug 13
Last Checked: Aug 12 at 7:03AM
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 RE/MAX IGNITE
Investment Insights
Based on property information with market context.
This three-family, three-story residential income property was constructed in 1920 and contains six bedrooms. The building offers multiple units with private accommodations, totaling 3,134 square feet of living space. A three-car garage is included for secure parking and additional storage. The property is being sold as-is, and the listing notes that one or more floors require work.
The property address is 414-416 Hillside Ave, Holyoke, MA 01040. Showings are deferred until Tuesday, July 21, 2026, with the first showings scheduled during the open house from 5:00 PM to 6:30 PM.
For buyers or owner-occupants looking for a sizable multi-unit dwelling with on-site parking, this residence provides a straightforward three-family configuration alongside an included garage.
The property address is 414-416 Hillside Ave, Holyoke, MA 01040. Showings are deferred until Tuesday, July 21, 2026, with the first showings scheduled during the open house from 5:00 PM to 6:30 PM.
For buyers or owner-occupants looking for a sizable multi-unit dwelling with on-site parking, this residence provides a straightforward three-family configuration alongside an included garage.
Key Highlights
- Three‑family residence at 414‑416 Hillside Ave, Holyoke, MA, built in 1920
- Approximately 3,134 SF across a three‑story building
- 6 bedrooms total with private accommodations across the multiple units
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
$41,048
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
9.12%
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%
$820,960
$821.0K
Cap Rate 7%
$586,400
$586.4K
Cap Rate 9%
$456,089
$456.1K
Market Conditions
NOI Build-Up for 3,134 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
$62.1K $19.80/SF
− Vacancy
−$3.4K −$1.09/SF
EGI
$58.6K $18.71/SF
− OpEx
−$17.6K −$5.61/SF
NOI
$41.0K $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%
$820,960
Cap Rate 7%
$586,400
Cap Rate 9%
$456,089
Alternative Uses
Best Use
Multifamily LT 5
$586.4K
$513.1K – $684.1K
NOI $41,048 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$543.4K
$475.5K – $634.0K
NOI $38,041 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,208 @ 7.0% cap · market cap 30.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 01040, MA
38,238
Population
17,057
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
79%
High-School Grad
21.2 sq mi
ZIP Area
1,804
Density / Sq Mi
$51,892
Median Household Income
$41,801
Median Earnings
$1,016
Median Rent
$255,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-story three-family residence built in 1920 with six bedrooms and a three-car garage, sold as-is and needing work.
Where is this triplex located?
The property is located at 414-416 Hillside Ave Holyoke, 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‑family residence at 414‑416 Hillside Ave, Holyoke, MA, built in 1920; Approximately 3,134 SF across a three‑story building; 6 bedrooms total with private accommodations across the multiple units
