Well-Maintained Triplex with Vacant
For Sale
$450,000
Pending
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
Days on Market50
Property Features for 51-53 Leyfred Ter
General Information
Standard status
Pending
Size
3,056 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
R2
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,423
Building Details
Building Size
3,056 SF
Year Built
1908
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
PRIVI Realty LLC
(508) 468-4329
Listed By:
Johnny Long
(617) 275-1415
Source:
Aucoinryanrealty
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 15 at 11:10AM
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
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 = 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
$40,238
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
8.94%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,214
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-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
