Three-Unit Multifamily
For Sale
$429,900
91-93 Malden St, Springfield, MA 01108
Multifamily building with a three-bedroom, two-bedroom, and one-bedroom unit, plus two currently vacant apartments.
Property Size2,902 SF
Price / SF$148.14
Days on Market48
Property Features for 91-93 Malden St
General Information
Standard status
Active
Size
2,902 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
3
Building Details
Year Built
1924
Listing Agency:
Five Stars Realty LLC
Listed By:
Paul Hernandez
(508) 713-1840
Source:
Nrgrealestate
Added: Sep 4
Changed: Oct 16
Last Checked: Oct 7 at 3:16PM
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 Five Stars Realty LLC
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Investment Insights
Based on property information with market context.
This 2,902-square-foot triplex, built in 1924, contains three residential units arranged across three floors. The unit mix includes a three-bedroom first-floor apartment, a two-bedroom second-floor apartment, and a one-bedroom third-floor apartment. Two units are vacant, while the first-floor occupant also rents the garage separately.
Located at 91-93 Malden St in Springfield, the property offers multiple occupancy configurations within an established multifamily layout. Its documented maintenance history and existing garage arrangement provide a straightforward foundation for continued residential use and property management.
Located at 91-93 Malden St in Springfield, the property offers multiple occupancy configurations within an established multifamily layout. Its documented maintenance history and existing garage arrangement provide a straightforward foundation for continued residential use and property management.
Key Highlights
- Three‑unit triplex at 91‑93 Malden St, Springfield, MA 01108
- 2,902‑square‑foot multifamily property built in 1924
- Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,211
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$764,220
$764.2K
Cap Rate 7%
$545,871
$545.9K
Cap Rate 9%
$424,567
$424.6K
Market Conditions
NOI Build-Up for 2,902 SF
Gross rent
$73.1K $25.20/SF
− Vacancy
−$3.7K −$1.26/SF
EGI
$69.5K $23.94/SF
− OpEx
−$31.3K −$10.77/SF
NOI
$38.2K $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%
$764,220
Cap Rate 7%
$545,871
Cap Rate 9%
$424,567
Alternative Uses
Best Use
Multifamily LT 5
$613.6K
$536.9K – $715.9K
NOI $42,955 @ 7.0% cap · market cap 9.99%
Second Best
Apartment 5plus
$545.9K
$477.6K – $636.9K
NOI $38,211 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$788.0K
$689.5K – $919.4K
NOI $55,161 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,032
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
Frequently Asked Questions
What type of property is this?
Triplex - Multifamily building with a three-bedroom, two-bedroom, and one-bedroom unit, plus two currently vacant apartments.
Where is this triplex located?
The property is located at 91-93 Malden St Springfield, MA.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Three‑unit triplex at 91‑93 Malden St, Springfield, MA 01108; 2,902‑square‑foot multifamily property built in 1924; Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments
