201 Main St · Springfield, MA 01151

$475,000

9 bd · 3.0 ba · 3,801 sqft · MultiFamily · 20 Days on market

Built 1909 Fair condition 2,879 sqft lot Est $582k · 18% 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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.3/10.0
• 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: 3 units. confirmed

Listing remarks MLS

Very Large legal three family triple decker. New gas hot air heating units in second and third unit. Property will cash flow at this price or owner user can live rent free.

Key facts

• Income-producing gem
• Separate utilities
• Three-family home

Tags

• THREE-FAMILY HOME
• VACANT UNIT
• SEPARATE UTILITIES
• STRONG RENTAL POTENTIAL
• INCOME-PRODUCING GEM
• PRIME SPRINGFIELD LOCATION

Property features AI

Finance

• HOA & community: Access to public transportation, shopping, parks, houses of worship and public schools; Not a senior community

Exterior

• Parking: Has open parking
• Utilities: Public water; Public sewer; Gas available for range
• Home design: 3-family property; 3 stories
• Construction: Stone construction; Stone foundation; Shingle and tar/gravel roof; Built (year per public records)
• Exterior features: Front porch; Public road frontage; Easements on the lot

Interior

• Bedrooms: Unit 1: 1 level; Unit 2: 1 level; Unit 3: 1 level
• Flooring: Vinyl flooring; Carpeted areas
• Bathrooms: 3 full bathrooms
• Interior features: Insulated windows; 15 total rooms

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $475k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $976 ($12k/yr) — positive. Per door: $325/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $475k).
• Recommended offer: $468k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: 13 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 $3k of loan paydown is wiped out by about $14k 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 20 days — a 2% lower offer ($468k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $175k; list at $475k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $467,875 (1.5% 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 1909 — 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. 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 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: 1.13% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.81%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $581,553
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1407-1409 Worcester St	0.22mi	8/3.0 (-1)	3,581 (-6%)	11mo	$470,000	$131	66
253-255 Oak St	0.58mi	8/3.0 (-1)	3,240 (-15%)	18mo	$497,000	$153	28

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: -2.9%
• Equity multiple: 0.89×
• Total profit: $-14,710
• Equity at exit: $70,824

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $67,587
• Equity at exit: $41,069

Cash invested: $133,000 (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 01151

• Home prices YoY: -11.1%
• Active inventory: 13
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $5,391 high
• Mortgage (P&I): −$2,491
• Tax est. 1.5%: −$594 /mo · $7,125/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,132
• Net cashflow: $976

Break-even live

Break-even rent $4,155

Max offer price $475,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,305	-5% $1,140	+0% $976	+5% $812	+10% $648
Rent	-10% $550	-5% $763	+0% $976	+5% $1,189	+10% $1,402
Rate	-1.0pp $1,215	-0.5pp $1,097	base $976	+0.5pp $853	+1.0pp $728

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,391
Total (3 units)			$5,391

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $475,000 Active 20 DOM
2. 2026-06-17
   days on market $475,000 Active 19 DOM
3. 2026-06-16
   days on market $475,000 Active 18 DOM
4. 2026-06-15
   days on market $475,000 Active 17 DOM
5. 2026-06-14
   days on market $475,000 Active 15 DOM
6. 2026-06-13
   days on market $475,000 Active 14 DOM
7. 2026-06-10
   days on market $475,000 Active 12 DOM
8. 2026-06-09
   days on market $475,000 Active 11 DOM
9. 2026-06-08
   days on market $475,000 Active 10 DOM
10. 2026-06-07
    days on market $475,000 Active 9 DOM
11. 2026-06-05
    days on market $475,000 Active 6 DOM
12. 2026-06-03
    days on market $475,000 Active 5 DOM
13. 2026-06-02
    statusdays on market $475,000 Active 4 DOM
14. 2026-06-01
    days on market $475,000 New 3 DOM
15. 2026-05-31
    days on market $475,000 New 2 DOM
16. 2026-05-30
    remarks 687-char remark
17. 2026-05-30
    listed $475,000 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: $64,692
• − Mortgage interest: −$26,607
• − Property taxes: −$7,125
• − Insurance: −$2,375
• − Repairs & maintenance: −$5,175
• − Management: −$5,175
• − Depreciation: −$13,818
• Taxable income: $4,416
• Est. tax owed @ 24.0%: −$1,060
• After-tax cash flow: $10,655/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 · 1 photo

Fair 45/100 Moderate rehab

This three-family home requires moderate renovations, including exterior siding, HVAC, and landscaping, to improve its condition and value.

Repairs flagged

• Major Exterior siding — Significant wear and tear
• Major HVAC/mechanicals — No photos, but likely outdated
• Major Landscaping — Overgrown yard and fence

Value-add opportunities

• Both Paint interior walls/paint — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace exterior siding — New siding improves curb appeal and structural integrity
• Both Upgrade HVAC/mechanicals — Modern HVAC improves comfort and energy efficiency
• Both Landscaping and fence — Aesthetic improvements boost curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear	Major	$15,000–50,000
HVAC/mechanicals · No photos, but likely outdated	Major	$15,000–50,000
Landscaping · Overgrown yard and fence	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint interior walls/paint — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace exterior siding — New siding improves curb appeal and structural integrity ↑
• Both Upgrade HVAC/mechanicals — Modern HVAC improves comfort and energy efficiency ↑
• Both Landscaping and fence — Aesthetic improvements boost curb appeal and property 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
• City population: 61,006
• Population (ZIP): 9,627

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 0.65)
• Race & ethnicity: Hispanic / Latino 47% White 31% Two or more races 23% Black 17% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 37% Dominican 3%
• Common ancestry: Romanian 6% Lithuanian 5% Russian 2%
• Foreign-born: 12% · Canada
• Languages at home: 57% English-only · Spanish 38% Other Indo-European 2% 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: ▼ -43.91%
• Current HPI: 353.0147
• 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

+165.4% since first listed

3 events — show timeline

• 2026-05-29 Listed $475,000 MLS PIN
• 2007-07-25 Sold (MLS) $175,000 MLS PIN
• 2007-03-29 Listed $179,000 MLS PIN