Well-Maintained Triplex with Vacant
For Sale
$450,000
51-53 Leyfred Ter, Springfield, MA 01108
Three-family property includes a vacant second-floor unit, separate utilities, and off-street parking in Springfield’s Forest Park neighborhood.
Property Size3,056 SF
Price / SF$147.25
Days on Market95
Property Features for 51-53 Leyfred Ter
General Information
Standard status
Active
Size
3,056 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1908
Tenancy
Multi
Listing Agency:
PRIVI Realty LLC
Listed By:
Johnny Long
(617) 275-1415
Source:
Nrgrealestate
Added: Jul 20
Changed: Oct 2
Last Checked: Oct 21 at 12:06AM
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 PRIVI Realty LLC
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Investment Insights
Based on property information with market context.
Well-maintained three-family triplex offered for sale, featuring a vacant second-floor unit. Each unit has its own separate utilities, and the property is described as having spacious layouts, with off-street parking available.
The home is positioned in the Forest Park neighborhood and is marketed with convenient access to shopping, restaurants, parks, schools, public transportation, and major highways.
According to the provided information, the property has projected market rents of approximately $1,750 per unit, with the seller noting strong income potential for owner-occupants or investors considering leasing all three units.
The home is positioned in the Forest Park neighborhood and is marketed with convenient access to shopping, restaurants, parks, schools, public transportation, and major highways.
According to the provided information, the property has projected market rents of approximately $1,750 per unit, with the seller noting strong income potential for owner-occupants or investors considering leasing all three units.
Key Highlights
- 1908‑built 3‑family in Springfield’s Forest Park neighborhood
- Vacant 2nd‑floor unit—move in while collecting rental income or lease all three units
- Separate utilities for individual units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,238
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$804,760
$804.8K
Cap Rate 7%
$574,829
$574.8K
Cap Rate 9%
$447,089
$447.1K
Market Conditions
NOI Build-Up for 3,056 SF
Gross rent
$77.0K $25.20/SF
− Vacancy
−$3.9K −$1.26/SF
EGI
$73.2K $23.94/SF
− OpEx
−$32.9K −$10.77/SF
NOI
$40.2K $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%
$804,760
Cap Rate 7%
$574,829
Cap Rate 9%
$447,089
Alternative Uses
Best Use
Multifamily LT 5
$646.2K
$565.4K – $753.9K
NOI $45,234 @ 7.0% cap · market cap 10.05%
Second Best
Apartment 5plus
$574.8K
$503.0K – $670.6K
NOI $40,238 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$829.8K
$726.1K – $968.1K
NOI $58,088 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,214
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-family property includes a vacant second-floor unit, separate utilities, and off-street parking in Springfield’s Forest Park neighborhood.
Where is this triplex located?
The property is located at 51-53 Leyfred Ter 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: 1908‑built 3‑family in Springfield’s Forest Park neighborhood; Vacant 2nd‑floor unit—move in while collecting rental income or lease all three units; Separate utilities for individual units
