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438 Springfield , Agawam, MA 01001

$1,950,000

16
beds
16
baths
7,680
sqft
1965
year built

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

  • Bedrooms
    16
  • Bathrooms
    16
  • Year Built
    1965
  • Stories
    2.0
  • Construction Materials
    Brick
  • Foundation
    Brick/Mortar
  • Parking Features
    Paved
  • Living Area
    7680.0
  • Appliances
    Gas Water Heater

  • Acres
    0.31
  • Water
    Public

  • County
    Hampden
  • City
    Agawam
  • Zip Code
    01001

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Frequently Asked Questions

How do I schedule a tour of 438 Springfield?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 438 Springfield.

They know residential incomes in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 438 Springfield?

Click Ask a Question to talk with our team. You already know it is a 16 bed, 16 bath, listed for $1,950,000. We can talk through recent upgrades, potential seller motivation, how this multi family compares to others in Agawam, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 438 Springfield?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 438 Springfield at around $12,401. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 438 Springfield?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Hampden County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 438 Springfield?

In most cases, yes. Whether 438 Springfield is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Agawam's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 438 Springfield?

We can handle that for you. Our preferred local agent specializes in residential incomes in Agawam and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $1,950,000 with 7,680 sqft of space—that comes out to approximately $254 per square foot.

How long has this property been on the market?

438 Springfield was listed on June 15, 2026, which means it's been on the market for 151 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

When was this house built?

This home was built in 1965, making it approximately 61 years old.

What is the lot size of this property?

438 Springfield sits on a 0.31-acre lot, which is 13,504 square feet.

What are the property taxes for 438 Springfield?

The most recent public record shows annual property taxes for 438 Springfield were approximately $15,647. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.

Is 438 Springfield still available for sale?

This home is pending sale, which means the seller has accepted an offer. You can favorite it to track status or ask our expert to help you find similar homes in this area. We'll also let you know if this property comes back on the market.

Source: ez Home Search, MLS Data


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Listing information provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Copyright 2026, MLS Property Information Network (MLS PIN). All rights reserved.

Last Updated: November 13, 2026 at 12:32PM | Source: MLS Property Information Network (MLS PIN) | MLS#: 73536156