Three-Unit Triplex with Hardwood
New
For Sale
$445,000
97-99 Brookline Avenue, Holyoke, MA 01040
Well-maintained income property with three residential units, individual laundry hookups, rear parking, and porches serving the kitchens.
Property Size2,668 SF
Price / SF$166.79
Days on Market7
Property Features for 97-99 Brookline Avenue
General Information
Standard status
Active
Size
2,668 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
3
Amenities
hardwood flooring
porches
washer and dryer hook-ups
off-street parking
walk-in closet
leaf guards
termite treatment
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Naples Realty Group
Listed By:
Tracy Cyr
(413) 204-2971
Source:
Gregoryhaughton
Added: Sep 19
Changed: Sep 24
Last Checked: Sep 24 at 10:10AM
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 Naples Realty Group
Investment Insights
Based on property information with market context.
This 1920-built triplex at 97-99 Brookline Ave includes 14 rooms, 6 bedrooms, and 3 full baths across three residential units. The first- and second-floor apartments each offer five rooms with two tandem bedrooms, an eat-in kitchen with pantry, dining room, living room, and full bath with tub and shower. The four-room third-floor unit includes an eat-in kitchen, living room, two bedrooms, a stand-up shower, wall-to-wall carpeting, and a large walk-in closet. Hardwood flooring and abundant natural light are featured in the property, while each unit has washer and dryer hookups.
Exterior features include back porches connected to the kitchens, an off-street parking area behind the home, and a front porch with new footings. The property also has new boilers installed in 2023, a new back porch roof and rafters, leaf guards, and termite treatment with a lifetime warranty. Two owned propane tanks serve each unit. The property is in Holyoke’s Oakdale neighborhood near the MASS PIKE and I-91.
Exterior features include back porches connected to the kitchens, an off-street parking area behind the home, and a front porch with new footings. The property also has new boilers installed in 2023, a new back porch roof and rafters, leaf guards, and termite treatment with a lifetime warranty. Two owned propane tanks serve each unit. The property is in Holyoke’s Oakdale neighborhood near the MASS PIKE and I-91.
Key Highlights
- Three‑unit property with 14 rooms, 6 bedrooms, and 3 full baths
- First- and second‑floor units each include 5 rooms and 2 tandem bedrooms
- Four‑room third‑floor unit with 2 bedrooms and a large walk‑in closet
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
$34,945
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
7.85%
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%
$698,900
$698.9K
Cap Rate 7%
$499,214
$499.2K
Cap Rate 9%
$388,278
$388.3K
Market Conditions
NOI Build-Up for 2,668 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
$52.8K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.9K $18.71/SF
− OpEx
−$15.0K −$5.61/SF
NOI
$34.9K $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%
$698,900
Cap Rate 7%
$499,214
Cap Rate 9%
$388,278
Alternative Uses
Best Use
Multifamily LT 5
$499.2K
$436.8K – $582.4K
NOI $34,945 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$462.6K
$404.8K – $539.8K
NOI $32,385 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,104 @ 7.0% cap · market cap 25.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
710
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained income property with three residential units, individual laundry hookups, rear parking, and porches serving the kitchens.
Where is this triplex located?
The property is located at 97-99 Brookline Avenue Holyoke, MA.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Three‑unit property with 14 rooms, 6 bedrooms, and 3 full baths; First- and second‑floor units each include 5 rooms and 2 tandem bedrooms; Four‑room third‑floor unit with 2 bedrooms and a large walk‑in closet
