50-52 Balis St · Springfield, MA 01109

$409,900

8 bd · 3.0 ba · 2,484 sqft · MultiFamily · 15 Days on market

Built 1907 Fair condition 4,643 sqft lot

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Why this score? — see what drove the D 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 +7.5/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Affordable two family that could use a little cosmetic work. This vinyl sided multi offers three bedrooms in each unit . Lead certificate available . Seller pays Rubbish ($90 per year ) as well as water /sewer. First floor is vacant and second floor would like to stay ! First floor heating is approx 10 years old and 2nd floor heating is brand new ! Third floor can be combined with either unit for additional living space.

Key facts

• Three full bathrooms
• Fenced backyard
• New roof

Tags

• FENCED BACKYARD
• NEW ROOF
• RENOVATED ENCLOSED PORCH
• THREE FULL BATHROOMS

Property features AI

Finance

• Other: Property address: 50-52 Balis St, Springfield MA 01109; Public road frontage; Building total area approximately 2,484 sq ft; Lot approximately 0.11 acre

Exterior

• Parking: Off-street paved parking; 2 open parking spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Multi-family property; 3 stories
• Construction: Frame construction; Block and brick/mortar foundation; Shingle roof; Lead paint present (certified treated); Built (year per public records)
• Exterior features: Fenced yard; Enclosed patio/porch; Rain gutters

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: 3 heating units
• Interior features: 13 total rooms; Full walk-out basement with concrete construction

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $410k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive. Per door: $153/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $397k (3.1% below list).
• Recommended offer: $397k (3.1% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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: 32 active listings in the ZIP; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).
• At $3,972/mo this rent would consume 98% of the median local household income ($48k/yr) (locally 1322% 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 $3k of loan paydown is wiped out by about $12k 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

• It's been on market 15 days — a 2% lower offer ($404k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $205k; list at $410k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $397,200 (3.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.97% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.19%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-46,926
• Equity at exit: $61,117

10-year hold

• IRR: -2.0%
• Equity multiple: 0.86×
• Total profit: $-15,593
• Equity at exit: $35,441

Cash invested: $114,772 (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 01109

• Home prices YoY: -22.8%
• Active inventory: 32
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $3,972 high
• Mortgage (P&I): −$2,150
• Tax est. 1.5%: −$512 /mo · $6,148/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$834
• Net cashflow: $305

Break-even live

Break-even rent $3,586

Max offer price $409,900

Occupancy floor 87%

Sensitivity live

Price	-10% $588	-5% $447	+0% $305	+5% $164	+10% $22
Rent	-10% $-9	-5% $148	+0% $305	+5% $462	+10% $619
Rate	-1.0pp $512	-0.5pp $409	base $305	+0.5pp $199	+1.0pp $91

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,972
Total (2 units)			$3,972

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: $102,475
• Closing costs: $12,297
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $409,900 Active 15 DOM
2. 2026-06-17
   days on market $409,900 Active 14 DOM
3. 2026-06-16
   days on market $409,900 Active 13 DOM
4. 2026-06-15
   days on market $409,900 Active 12 DOM
5. 2026-06-14
   days on market $409,900 Active 10 DOM
6. 2026-06-13
   days on market $409,900 Active 9 DOM
7. 2026-06-10
   days on market $409,900 Active 7 DOM
8. 2026-06-09
   days on market $409,900 Active 6 DOM
9. 2026-06-08
   days on market $409,900 Active 5 DOM
10. 2026-06-07
    statusdays on market $409,900 Active 4 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $409,900 New 1 DOM

ⓘ 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: $47,664
• − Mortgage interest: −$22,961
• − Property taxes: −$6,148
• − Insurance: −$2,050
• − Repairs & maintenance: −$3,813
• − Management: −$3,813
• − Depreciation: −$11,924
• Taxable loss: −$3,045
• Est. tax savings @ 24.0%: +$731
• After-tax cash flow: $4,393/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 · 13 photos

Fair 45/100 Moderate rehab

This multi-family property requires extensive repairs and maintenance, including a new roof, exterior siding, flooring, interior walls, HVAC, and landscaping. The property has potential for significant value increase with these updates.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding appears to be in poor condition, with visible wear and tear.
• Major flooring — The flooring in the interior appears to be in poor condition, with visible wear and tear.
• Major interior walls/paint — The interior walls and paint appear to be in poor condition, with visible wear and tear.
• Major HVAC/mechanicals — The HVAC and mechanical systems appear to be in poor condition, with visible wear and tear.
• Major landscaping — The landscaping and curb appeal appear to be in poor condition, with overgrown grass and a lack of maintenance.

Value-add opportunities

• Both New roof — A new roof would significantly increase the property's value by improving its appearance and increasing its lifespan.
• Both New exterior siding — New exterior siding would significantly improve the property's appearance and increase its resale value.
• Both New flooring — New flooring would significantly improve the property's appearance and increase its resale value.
• Both Paint interior walls — Painting the interior walls would significantly improve the property's appearance and increase its resale value.
• Both Replace HVAC — Replacing the HVAC would significantly improve the property's comfort and energy efficiency, increasing its resale and rental value.
• Both Landscaping — Landscaping would significantly improve the property's curb appeal and increase its resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
flooring · The flooring in the interior appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
interior walls/paint · The interior walls and paint appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
HVAC/mechanicals · The HVAC and mechanical systems appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
landscaping · The landscaping and curb appeal appear to be in poor condition, with overgrown grass and a lack of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both New roof — A new roof would significantly increase the property's value by improving its appearance and increasing its lifespan. ↑
• Both New exterior siding — New exterior siding would significantly improve the property's appearance and increase its resale value. ↑
• Both New flooring — New flooring would significantly improve the property's appearance and increase its resale value. ↑
• Both Paint interior walls — Painting the interior walls would significantly improve the property's appearance and increase its resale value. ↑
• Both Replace HVAC — Replacing the HVAC would significantly improve the property's comfort and energy efficiency, increasing its resale and rental value. ↑
• Both Landscaping — Landscaping would significantly improve the property's curb appeal and increase its resale and rental value. ↑

ⓘ 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
• County: Hampden County · 230,965 people
• City population: 61,006
• Metro: Springfield, MA
• Population (ZIP): 31,124
• Household income: $48,415
• Rent vs Own: 52.4% rent · 47.6% own
• Severe rent burden: 1322.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 45% Black 31% Two or more races 20% White 18% Asian 1% Native American 1%
• Hispanic origin (detail): Puerto Rican 39% Dominican 3%
• Common ancestry: Lithuanian 2% Romanian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 65% English-only · Spanish 32% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -113.11%
• Current HPI: 382.9038
• 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

+137.6% since first listed

5 events — show timeline

• 2026-06-03 Listed $409,900 MLS PIN
• 2021-06-23 Sold (MLS) $205,000 MLS PIN
• 2021-04-19 Pending — MLS PIN
• 2021-04-09 Price Changed $180,000 MLS PIN
• 2020-09-26 Listed $172,500 MLS PIN