58 Somerset St · Springfield, MA 01108

$300,000

6 bd · 2.0 ba · 2,444 sqft · MultiFamily public records · 1 Days on market

Built 1925 Est $415k · 28% under

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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 +17.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Roof 25 years old, windows original, siding 26+ years old. Probably needs conventional loan. AS IS CONDITION. 2nd Floor not able to show other than photos until agreement reached and upon inspection due to uncooperative tenants. Garage in poor condition. Fences installed by neighbors.

Key facts

• Built 1925

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $288k (3.9% below list).
• Recommended offer: $288k (3.9% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 5.0% 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: 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.
• Zoned schools: Alfred G. Zanetti Montessori Magnet School (math 33% / reading 60%, grade D-, #405 of 938 statewide, top 44%, 434 students, 0% FRL); Forest Park Middle (math 10% / reading 13%, grade F, #286 of 305 statewide, top 95%, 352 students, 0% FRL); Springfield Central High (math 27% / reading 41%, grade F, #250 of 343 statewide, top 73%, 2,095 students, 0% FRL) — zoned schools average 0% FRL vs 81% district-wide (81 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 45 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).
• At $2,884/mo this rent would consume 68% of the median local household income ($51k/yr) (locally 2272% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $117k; list at $300k implies a 157% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $288,400 (3.9% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.20%
• DSCR: 1.14
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $415,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 Sylvan St	0.47mi	6/2.0	2,418 (-1%)	3mo	$410,000	$170	73
108-110 Commonwealth Ave	0.21mi	6/3.0	2,458 (+1%)	16mo	$320,000	$130	72
117-119 Olmsted Dr	0.19mi	6/2.0	2,340 (-4%)	15mo	$424,000	$181	72
137-139 Fountain St	0.37mi	7/2.0 (+1)	2,416 (-1%)	6mo	$225,000	$93	71
910-912 Belmont Ave	0.63mi	6/2.0	2,468 (+1%)	4mo	$300,000	$122	65
70-72 E Alvord St	0.73mi	6/2.0	2,440 (-0%)	2mo	$410,000	$168	65
612-614 White St	0.63mi	6/2.0	2,418 (-1%)	11mo	$453,000	$187	59
91-93 Alderman St	0.53mi	6/3.0	2,340 (-4%)	12mo	$496,000	$212	54
125 Oakland St	0.61mi	5/2.0 (-1)	2,300 (-6%)	4mo	$410,000	$178	54
116-118 Johnson St	0.65mi	6/2.0	2,590 (+6%)	8mo	$425,000	$164	53
34-36 Ruskin St	0.70mi	6/2.0	2,340 (-4%)	17mo	$417,500	$178	46
40-42 Ranney St	0.74mi	6/3.5	2,535 (+4%)	12mo	$389,999	$154	43

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: -11.2%
• Equity multiple: 0.59×
• Total profit: $-34,312
• Equity at exit: $44,731

10-year hold

• IRR: -2.0%
• Equity multiple: 0.86×
• Total profit: $-11,374
• Equity at exit: $25,939

Cash invested: $84,000 (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 01108

• Home prices YoY: -23.0%
• Active inventory: 45
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,884 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$356 /mo · $4,273/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $224

Break-even live

Break-even rent $2,600

Max offer price $300,000

Occupancy floor 87%

Sensitivity live

Price	-10% $394	-5% $309	+0% $224	+5% $139	+10% $54
Rent	-10% $-4	-5% $110	+0% $224	+5% $338	+10% $452
Rate	-1.0pp $375	-0.5pp $300	base $224	+0.5pp $146	+1.0pp $67

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Wigwam Pl Springfield, MA	5.0	2.0	2000	$2,800	$1.40	45d	1	0.94mi
296 Hancock St Springfield, MA	6.0	2.0	2000	$2,900	$1.45	45d	1	1.48mi

Listing history 2 events

1. 2002-12-30
   soldstatus $116,600
2. 2001-08-24
   soldstatus $99,000

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

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $4,273 · $356/mo
• Projected year-2 tax: $4,273 · $356/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $34,608
• − Mortgage interest: −$16,805
• − Property taxes: −$4,273
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,769
• − Management: −$2,769
• − Depreciation: −$8,727
• Taxable loss: −$2,234
• Est. tax savings @ 24.0%: +$536
• After-tax cash flow: $3,225/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.

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
• County: Hampden County · 230,965 people
• City population: 61,006
• Metro: Springfield, MA
• Population (ZIP): 27,405
• Household income: $50,661
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 2272.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 41% White 31% Two or more races 20% Black 19% Asian 7%
• Hispanic origin (detail): Puerto Rican 30% Dominican 7%
• Common ancestry: Lithuanian 3% Romanian 1% Hispanic 1%
• Foreign-born: 16% · Canada, Vietnam, India
• Languages at home: 60% English-only · Spanish 26% Vietnamese 4% Other Indo-European 4%

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: ▼ -96.40%
• Current HPI: 322.6677
• Rent YoY: —
• Metro: Springfield, MA
• 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

+17.8% since first listed

2 events — show timeline

• 2002-12-30 Sold (Public Records) $116,600 Public Records
• 2001-08-24 Sold (Public Records) $99,000 Public Records

Property tax history

+4.3%/yr

Latest (2023): $4,273 · +21.5% YoY. Source: county tax records.