438 Springfield, Agawam MA 01001
Agawam, MA 01001
$1,950,000
Est. $11,364/month
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About this home
Discover an exceptional investment opportunity at 438 Springfield Street, Agawam, Massachusetts. This meticulously maintained 16-unit multifamily property, originally constructed in 1965, offers approximately 7,680 square feet of living space and is fully occupied, providing immediate, stable cash flow for investors.The building features 16 residential units, with a total of 16 bedrooms and 16 full bathrooms, spread across two stories on a 13,440-square-foot lot. The property has been well maintained and is positioned for continued long-term performance.Recent capital improvements include the installation of new heat pumps in every unit, providing tenants with efficient heating and air conditioning while enhancing the property’s long-term value and reducing future capital expenditure needs. Additional income is generated through an on-site coin-operated laundry, producing approximately $150 per month.The property’s July 2026 trailing 12-month (T12) Net Operating Income (NOI) is approximately $162,300. At an 8.0% capitalization rate, this supports an estimated value of approximately $2,028,750, reflecting the property’s strong and improving operating performance.The list price has been increased to reflect the improved July 2026 T12 financial performance, as well as multiple offers received at the previous list price. Buyers are encouraged to review the updated financials when evaluating the property’s current value.Whether you are completing a 1031 exchange, expanding an existing multifamily portfolio, or seeking a stable, income-producing asset in a desirable Western Massachusetts market, 438 Springfield Street offers an outstanding combination of current cash flow, recent capital improvements, and future upside.Highlights* 16-unit multifamily investment* Approximately 7,680 square feet* Built in 1965* Fully rented with stable occupancy* New heat pumps installed in every unit* On-site laundry generating approximately $150 per month* July 2026 T12 NOI: $162,300* Supports an estimated value of approximately $2,028,750 at an 8.0% capitalization rate* List price increased based on improved T12 financial performance and strong buyer interest* Offers due by August 27, 2026
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Recently Sold Nearby
Property History
Market Insights
2
Price Changes
3.8%
Price Range
Property Timeline
Price Increased
Aug 4, 2026
$1,950,000
+$65,000
(+3.45%)
From $1,885,000 to $1,950,000 (+3.5%)
Price Increased
Jul 29, 2026
$1,885,000
+$10,000
(+0.53%)
From $1,875,000 to $1,885,000 (+0.5%)
Listed for Sale
Jun 15, 2026
$1,875,000
Original listing
Agent: Russell J. Sabadosa
Office: Premier Choice Realty
| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 08/04/2026 | ↑ Price Increased | $1,950,000 | +$65,000 | - | From $1,885,000 to $1,950,000 (+3.5%) |
| 07/29/2026 | ↑ Price Increased | $1,885,000 | +$10,000 | - | From $1,875,000 to $1,885,000 (+0.5%) |
| 06/15/2026 | 🏠 Listed for Sale | $1,875,000 | - | - | Original listing |
Tax History
| Year | Taxes | Assessment |
|---|---|---|
| 2026 | $15,647 | $1,109,700 |
Financial Details
Annual Property Tax
$15,647
Tax Year 2026
Assessed Value
$1,109,700
Facts & Features
Home Facts
Type
Residential Income
Style
5+ Family - 5+ Units Up/Down
Year Built
1965
Living Area
7,680 sq ft
Lot Size
0.31 acres
Bedrooms
16
Full Baths
16
Total Rooms
32
Investment Metrics
Units
16
Unit 1 Rent
$1,125/mo · Y
Unit 2 Rent
$1,125/mo · Y
Total Monthly Rent
$2,250/mo
Gross Income
$206,459
Net Operating Income
$148,001
Operating Expenses
$58,457
Cap Rate
7.59%
Interior
Heating
None
Cooling
None
Flooring
None
Appliances
None
Fireplace
None
Basement
None
Laundry
None
Features
None
Exterior
Construction
Brick
Architecture
None
Roof
Shingle
Features
None
Pool
None
Spa
None
Fencing
None
Patio/Porch
None
Parking
Features
Paved Drive
Total Spaces
24
Utilities
Electric
None
Water
Public
Sewer
Public Sewer
Gas
None
Other
None
Financial
Annual Tax
$15,647
Assessed Value
$1,109,700
HOA & Community
Fee Includes
None
Amenities
None
Optional Fee Includes
None
MA Disclosures
Seller Disclosures
Sale Has Bankruptcy Court Approval. Buyers To Perform Their Own Due Diligence Regarding Financials, Unit Count, Future Development Potential, Permits, And All Property Information.
Additional Details
Possession
None
Accepted Financing
None
Structure Type
[]
Sq Ft Source
Public Record
Documents
None
County
Hampden
Total market time (incl. prior listings)
54 days
Property Overview
Property Type
5+ Family - 5+ Units Up/Down
Listing Type
For Sale
Year Built
1965
Bedrooms
16
Full Bathrooms
16
Living Area
7,680 sq ft
Total Rooms
32
Stories
2
Levels
2
Floor Layout
Interactive room guide
Floor Layout
Finished Area
7,680 sq ft above grade
Display Options
Room Markers
BABathroom (4)
BRBedroom (5)
DDining (1)
KKitchen (1)
LLiving (2)
OOffice (1)
Conceptual diagram based on MLS room data. It is not to scale and is not a substitute for architectural plans or on-site measurements.
Interior Features
Flooring:
Appliances:
Interior Features:
Windows:
Basement:
Laundry:
Security:
Construction & Materials
Year Built:
1965
Structure Type:
Exterior Materials:
Brick
Roof:
Shingle
Foundation:
Brick/Mortar
Stories:
2
Heating, Cooling & Utilities
Heating:
Cooling:
Hot Water:
Natural Gas
Water Source:
Public
Sewer:
Public Sewer
Energy Features:
Exterior & Lot
Exterior Features:
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:
Parking & Garage
Total Parking Spaces:
24
Parking Features:
Paved Drive
Nearby Schools
School District
Agawam School District local
C+
School Safety
2024-25
1.7%
Average
1.5%
Suspensions
1.6%
In-School
0.2%
Emergency
3.8% below state avg
Elementary Schools
6 schools
C+
William P. Sapelli Elementary School
0.4 mi
|
#578 of 824
|
Score: 41.9
Dropped 266 spots from last year
-16.3 below state avg
290 students
Moderate
Grades K-04
Perry Lane Pre-School
0.7 mi
Grades PK
Agawam Early Childhood Center
1.5 mi
135 students
Moderate
Grades PK
B+
Benjamin J Phelps School
1.9 mi
|
#260 of 824
|
Score: 52.1
Improved 167 spots from last year
-6.1 below state avg
304 students
Moderate
Rising School
Grades K-04
B-
Clifford M Granger School
2.1 mi
|
#467 of 824
|
Score: 45.6
Improved 13 spots from last year
-12.6 below state avg
361 students
Moderate
Grades K-04
B-
James Clark School
2.8 mi
|
#455 of 824
|
Score: 45.9
Dropped 62 spots from last year
-12.3 below state avg
297 students
Moderate
Grades K-04
Middle Schools
2 schools
B-
Roberta G. Doering School
1.0 mi
|
#203 of 352
|
Score: 40.5
Dropped 3 spots from last year
-17.7 below state avg
522 students
Moderate
Grades 05-08
C+
Agawam Junior High School
2.1 mi
|
#221 of 352
|
Score: 39.3
Improved 46 spots from last year
-18.9 below state avg
527 students
Moderate
Rising School
Grades 07-08
High Schools
1 school
B
Agawam High School
0.7 mi
|
#159 of 346
|
Score: 54.2
Improved 67 spots from last year
-4 below state avg
1,025 students
Moderate
19 sports
• 1,666 athletes
Rising School
Career Tech Programs
College Ready Curriculum
Strong Athletics
Grades 09-12
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Loan Amount
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After down payment
Total Interest
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Over life of loan
Total Cost
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Including down payment
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Down: $0
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Monthly Payment Breakdown
Principal & Interest
$0
Property Tax
$1,304
Homeowners Insurance
$200
PMI (if <20% down)
$0
Loan Summary
Total of 360 payments
$0
Total principal paid
$0
Total interest paid
$0
Rate Impact
-0.5% Rate
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Current Rate
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+0.5% Rate
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Payment Over Time
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.
Location
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Neighborhood
438 Springfield, Agawam MA 01001
Agawam, MA 01001
Listing Information
Listing Agent
Russell J. Sabadosa
Listing Office
Premier Choice Realty
Office Phone
413-200-8642
Agent MLS ID
M9500012
Office MLS ID
M95398
Listing Data Updated
Aug 8, 2026 3:05 AM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.
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