16 Pioneer Way · Springfield, MA 01119

$99,000

2 bd · 1.0 ba · 540 sqft · Manufactured · 131 Days on market

Built 1988 Poor condition 540 sqft lot $183/sqft · 31% above area Est $76k · 31% over $291/mo HOA · 17% of rent

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.6/10.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy 2-bedroom, 1-bath mobile home offers 540 square feet of smart, efficient living space—perfect for those looking to own instead of rent. With a low and affordable HOA fee of just $231, this home makes monthly expenses predictable and budget-friendly. Whether you’re a first-time buyer, downsizing, or looking for a more affordable housing option, this home delivers a great chance to build equity and enjoy the pride of ownership without the high cost of traditional housing.

Key facts

• Parking
• Built 1988
• Listed 131 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $99k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 5.1% in Springfield — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#97 in MA) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, amenities A; Watch: schools D, crime F, employment D-.
• Springfield (urban): math 13% / reading 25% proficiency, ranked #296 of 302 in MA (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 16 active listings in the ZIP; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hampden County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 30y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $5k; list at $99k implies a 1880% gain — meaningful room to come down on a strong offer.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.73% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.39%
• DSCR: 1.73
• GRM: 4.8

CMA / ARV

• ARV (median comp): $75,527
• List price: $99,000
• Delta: 31.08%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32 Better Way	0.10mi	1/1.0 (-1)	460 (-15%)	3mo	$60,000	$130	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.30×
• Total profit: $8,280
• Equity at exit: $14,761

10-year hold

• IRR: 17.0%
• Equity multiple: 2.41×
• Total profit: $39,097
• Equity at exit: $8,560

Cash invested: $27,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 01119

• Home prices YoY: -30.7%
• Active inventory: 16
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,714 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$291
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $379

Break-even live

Break-even rent $1,234

Max offer price $99,000

Occupancy floor 73%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $291 · $3,492/yr

Listing history 21 events

1. 2026-06-18
   days on market $99,000 Active 131 DOM
2. 2026-06-17
   days on market $99,000 Active 130 DOM
3. 2026-06-16
   days on market $99,000 Active 129 DOM
4. 2026-06-15
   days on market $99,000 Active 128 DOM
5. 2026-06-14
   days on market $99,000 Active 126 DOM
6. 2026-06-13
   days on market $99,000 Active 125 DOM
7. 2026-06-10
   days on market $99,000 Active 123 DOM
8. 2026-06-09
   days on market $99,000 Active 122 DOM
9. 2026-06-08
   statusdays on market $99,000 Active 121 DOM
10. 2026-06-07
    days on market $99,000 Extended 120 DOM
11. 2026-06-05
    statusdays on market $99,000 Extended 117 DOM
12. 2026-06-03
    days on market $99,000 Active 116 DOM
13. 2026-06-02
    days on market $99,000 Active 115 DOM
14. 2026-06-01
    days on market $99,000 Active 114 DOM
15. 2026-05-31
    days on market $99,000 Active 113 DOM
16. 2026-05-30
    days on market $99,000 Active 112 DOM
17. 2026-04-21
    price $99,000 496-char remark

    Show marketing remark (496 chars)

    This cozy 2-bedroom, 1-bath mobile home offers 540 square feet of smart, efficient living space—perfect for those looking to own instead of rent. With a low and affordable HOA fee of just $231, this home makes monthly expenses predictable and budget-friendly. Whether you’re a first-time buyer, downsizing, or looking for a more affordable housing option, this home delivers a great chance to build equity and enjoy the pride of ownership without the high cost of traditional housing.

18. 2026-03-16
    price $105,000 496-char remark

    Show marketing remark (496 chars)

    This cozy 2-bedroom, 1-bath mobile home offers 540 square feet of smart, efficient living space—perfect for those looking to own instead of rent. With a low and affordable HOA fee of just $231, this home makes monthly expenses predictable and budget-friendly. Whether you’re a first-time buyer, downsizing, or looking for a more affordable housing option, this home delivers a great chance to build equity and enjoy the pride of ownership without the high cost of traditional housing.

19. 2026-02-07
    listed $110,000 New 496-char remark

    Show marketing remark (496 chars)

    This cozy 2-bedroom, 1-bath mobile home offers 540 square feet of smart, efficient living space—perfect for those looking to own instead of rent. With a low and affordable HOA fee of just $231, this home makes monthly expenses predictable and budget-friendly. Whether you’re a first-time buyer, downsizing, or looking for a more affordable housing option, this home delivers a great chance to build equity and enjoy the pride of ownership without the high cost of traditional housing.

20. 1996-12-06
    soldstatus $5,000 244-char remark

    Show marketing remark (244 chars)

    ECONOMICAL LIVING IN A WELL-CARED FOR MOBILE PARK COMMUNITY, OIL HEAT,FULLY APPLIANCED KITCHEN & FURNISHINGS TO REMAIN. MONTHLY FEE IS $173.58:INCLUDES LOT RENTAL,WATER,SEWER,TRASH REMOVAL & SNOW REMOVAL ON STREETS. SELLER WANTS OFFERS!

21. 1996-03-13
    listed $5,999 244-char remark

    Show marketing remark (244 chars)

    ECONOMICAL LIVING IN A WELL-CARED FOR MOBILE PARK COMMUNITY, OIL HEAT,FULLY APPLIANCED KITCHEN & FURNISHINGS TO REMAIN. MONTHLY FEE IS $173.58:INCLUDES LOT RENTAL,WATER,SEWER,TRASH REMOVAL & SNOW REMOVAL ON STREETS. SELLER WANTS OFFERS!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,565
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,645
• − Management: −$1,645
• − HOA: −$3,492
• − Depreciation: −$2,880
• Taxable income: $3,377
• Est. tax owed @ 24.0%: −$810
• After-tax cash flow: $3,734/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 10 photos

Poor 20/100 Extensive rehab

This mobile home requires extensive repairs and maintenance, including elevation, landscaping, and paint touch-ups. Significant structural and plumbing/roof issues are indicated by the elevated mobile home. Improvements would significantly increase its resale and rental value.

Repairs flagged

• Major Elevated mobile home — Structural issues indicated by elevation.
• Major Potential roof issues — Mobile home is elevated, suggesting potential roof damage or issues.
• Major Potential plumbing and electrical issues — Mobile home is elevated, suggesting potential plumbing and electrical issues.
• Major Landscaping and yard maintenance — Snow and debris cover the yard, indicating lack of maintenance.

Value-add opportunities

• Both Elevate mobile home — Elevating the mobile home would address structural and plumbing/roof issues.
• Both Landscaping and yard maintenance — Landscaping and yard maintenance would improve curb appeal and attract potential buyers/renters.
• Both Paint touch-ups — Paint touch-ups would improve the home's appearance and attract potential buyers/renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Elevated mobile home · Structural issues indicated by elevation.	Major	$15,000–50,000
Potential roof issues · Mobile home is elevated, suggesting potential roof damage or issues.	Major	$15,000–50,000
Potential plumbing and electrical issues · Mobile home is elevated, suggesting potential plumbing and electrical issues.	Major	$15,000–50,000
Landscaping and yard maintenance · Snow and debris cover the yard, indicating lack of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Elevate mobile home — Elevating the mobile home would address structural and plumbing/roof issues. ↑
• Both Landscaping and yard maintenance — Landscaping and yard maintenance would improve curb appeal and attract potential buyers/renters. ↑
• Both Paint touch-ups — Paint touch-ups would improve the home's appearance and attract potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Springfield
• NCES district ID: 2511130
• Math proficiency: 13% ▼ -12.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $34,938
• Composite: 15.6/100
• National rank: #9293
• State rank: #296 of 302 in MA

Livability — Springfield

• Score: 73/100
• State rank: #97
• US rank: #5195

Category grades

Amenities A Commute A+ Cost of living B- Crime F Employment D- Housing A Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, MA
• City population: 61,006
• Population (ZIP): 14,059

Population outlook (Hampden County) Hauer SSP2

• Today (2025): 485,646 people
• By 2030: 491,517 · +1.2%
• By 2040: 500,539 · +3.1%
• By 2050: 508,827 · +4.8%
• By 2075: 539,167 · +11.0%
• By 2100: 545,698 · +12.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 33% Black 20% Two or more races 14% Asian 4%
• Hispanic origin (detail): Puerto Rican 29% Dominican 2%
• Common ancestry: Lithuanian 8% Romanian 4% Russian 1%
• Foreign-born: 7% · Canada
• Languages at home: 72% English-only · Spanish 24% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Hampden

• 2024 margin: Lean D (+8.9) · D 53.4% · R 44.5% · Other 2.1%
• 2008→2024 swing: -16.4pp toward R · 2008: 25.3pp · 2024: 8.9pp
• All cycles: 2024: D+8.9 2020: D+17.7 2016: D+16.0 2012: D+25.4 2008: D+25.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.94%
• Current HPI: 349.652
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

+1550.3% since first listed

5 events — show timeline

• 2026-04-21 Price Changed $99,000 MLS PIN
• 2026-03-16 Price Changed $105,000 MLS PIN
• 2026-02-07 Listed $110,000 MLS PIN
• 1996-12-06 Sold (MLS) $5,000 MLS PIN
• 1996-03-13 Listed $5,999 MLS PIN