92 Massreco St · Springfield, MA 01109

$279,900

3 bd · 2.5 ba · 1,310 sqft · SingleFamily public records · 5 Days on market

Built 1949 6,900 sqft lot Est $305k · 8% under

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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).

• ARV discount +11.2/15.0
• Cash flow +10.9/30.0
• Livability +3.7/5.0
• DSCR +3.2/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming and well-maintained Cape located in a desirable neighborhood! A welcoming front porch invites you into this spacious home featuring an eat-in kitchen, formal dining room, and comfortable living room. With 4 bedrooms, 2 full baths, and hardwood floors throughout much of the home, there is plenty of space for family and guests. The finished lower level offers a family room complete with a wet bar, providing the perfect space for entertaining, game nights, or relaxing. Enjoy outdoor living in the large fenced backyard, complete with a storage shed. Major updates include a newer furnace (2012) and hot water heater (2017) and windows. All appliances will remain for the buyer's convenien

Key facts

• Formal dining room
• Wet bar
• Front porch

Tags

• FRONT PORCH
• EAT-IN KITCHEN
• FORMAL DINING ROOM
• FINISHED LOWER LEVEL
• WET BAR
• LARGE FENCED BACKYARD

Property features AI

Finance

• Other: Basement: full, partially finished, interior entry, bulkhead access, sump pump, concrete
• HOA & community: Community near shopping, parks, houses of worship, public schools and a university; Not a senior community

Exterior

• Parking: Off-street paved parking; Open parking for 4 vehicles (4 parking spaces total)
• Utilities: Public water; Public sewer; Electric with circuit breakers; Gas water heater and water heater; Utilities set up for electric range and electric dryer; washer hookup
• Home design: Single family residence; Shingle roof
• Construction: Frame construction; Block foundation; Built (year per public records)
• Exterior features: Fenced yard (fully fenced/enclosed); Rain gutters; Level lot; Paved road frontage on a public, publicly maintained road

Interior

• Kitchen: Kitchen with dining area
• Bedrooms: Main level bedroom (1) with ceiling fan, closet, hardwood and wall-to-wall carpet flooring; Second bedroom on main/first level with ceiling fan, closet, hardwood and wall-to-wall carpet flooring; Two bedrooms on second level, each with closets, custom built closet/cabinets and hardwood flooring; Master bedroom on first level with ceiling fan, closet, hardwood and wall-to-wall carpet flooring
• Flooring: Hardwood; Tile (stone/ceramic); Vinyl; Wall-to-wall carpet
• Bathrooms: Two full bathrooms; Main/first level full bathroom with tiled tub & shower, linen closet and stone/ceramic tile flooring; Second level full bathroom with shower stall, cedar closet(s) and stone/ceramic tile flooring
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Has heating and cooling
• Interior features: Mud room; Insulated windows; 7 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (18.8% below list).
• Recommended offer: $227k (18.8% below list) — sets the bar for 1% rule.

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); John F Kennedy Middle (math 5% / reading 11%, grade F, #297 of 305 statewide, top 97%, 390 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: 38 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).
• At $2,272/mo this rent would consume 56% 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 $2k of loan paydown is wiped out by about $8k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $227,234 (18.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.90%
• DSCR: 0.92
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $305,230
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Bernard St	0.05mi	3/1.5	1,298 (-1%)	4mo	$260,000	$200	89
270 Berkshire Ave	0.24mi	4/2.0 (+1)	1,370 (+5%)	2mo	$230,000	$168	73
54 Seymour Ave	0.28mi	4/2.0 (+1)	1,368 (+4%)	3mo	$279,900	$205	70
297 Breckwood Blvd	0.67mi	3/2.0	1,320 (+1%)	2mo	$330,000	$250	64
181 Marsden St	0.40mi	3/2.0	1,200 (-8%)	3mo	$269,900	$225	62
36 Emily St	0.45mi	3/1.0	1,250 (-5%)	4mo	$230,000	$184	62
63 Peer St	0.61mi	3/1.0	1,335 (+2%)	3mo	$264,000	$198	60
321 Rosewell St	0.69mi	3/3.0	1,288 (-2%)	4mo	$300,000	$233	60
187 Lamont St	0.45mi	3/1.0	1,142 (-13%)	2mo	$300,000	$263	50
285 Breckwood Blvd	0.65mi	4/2.0 (+1)	1,440 (+10%)	1mo	$350,000	$243	45
64 Berkshire Ave	0.56mi	3/1.0	1,141 (-13%)	1mo	$280,000	$245	45
56 Rosemary Dr	0.62mi	3/1.0	1,124 (-14%)	2mo	$310,000	$276	40

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: -19.4%
• Equity multiple: 0.32×
• Total profit: $-53,248
• Equity at exit: $41,734

10-year hold

• IRR: -12.1%
• Equity multiple: 0.28×
• Total profit: $-56,459
• Equity at exit: $24,201

Cash invested: $78,372 (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: 38
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,272 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$335 /mo · $4,020/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $-124

Break-even live

Break-even rent $2,430

Max offer price $257,941

Occupancy floor —

Sensitivity live

Price	-10% $34	-5% $-45	+0% $-124	+5% $-204	+10% $-283
Rent	-10% $-304	-5% $-214	+0% $-124	+5% $-35	+10% $55
Rate	-1.0pp $17	-0.5pp $-53	base $-124	+0.5pp $-197	+1.0pp $-271

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 Cobb St Springfield, MA	4.0	2.0	1500	$2,500	$1.67	45d	1	0.88mi
49 Riverton Rd Unit 49 Springfield, MA	2.0	1.5	965	$1,750	$1.81	5d	1	0.93mi
65 Wisteria St Springfield, MA	2.0	1.5	972	$2,100	$2.16	45d	1	0.96mi
63 Granger St Springfield, MA	4.0	2.0	1200	$2,700	$2.25	45d	1	1.21mi

Listing history 4 events

1. 2026-06-22
   statusdays on market $279,900 Active 5 DOM
2. 2026-06-18
   days on market $279,900 New 2 DOM
3. 2026-06-16
   remarks 699-char remark
4. 2026-06-16
   listed $279,900 New 1 DOM

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

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $4,020 · $335/mo
• Projected year-2 tax: $4,020 · $335/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: $27,268
• − Mortgage interest: −$15,679
• − Property taxes: −$4,020
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,181
• − Management: −$2,181
• − Depreciation: −$8,143
• Taxable loss: −$6,336
• Est. tax savings @ 24.0%: +$1,521
• After-tax cash flow: $29/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): 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

1 event — show timeline

• 2026-06-16 Listed $279,900 MLS PIN

Property tax history

+5.4%/yr

Latest (2023): $4,020 · +32.8% YoY. Source: county tax records.