101 Mulberry St #314 · Springfield, MA 01105

$137,000

2 bd · 1.0 ba · 840 sqft · Condo public records · 26 Days on market

Built 1955 $357/mo HOA · 22% 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 +15.4/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +5.5/10.0
• DSCR +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

Nice two bedroom one bathroom condo on Mulberry Street! Convenient to local amenities, casino, and highways! Don't miss out!

Key facts

• $357 HOA
• Parking
• Built 1955

Property features AI

Finance

• Other: Condominium is active in listings
• HOA & community: Monthly association fee of $357; HOA covers water, sewer, insurance, security, building maintenance, grounds maintenance, snow removal, and trash; Building amenities include hot water and elevator(s); Not a senior community

Exterior

• Parking: 1 covered garage space (1 total garage space); No open parking spaces
• Utilities: Public water supply; Public sewer
• Home design: Condominium (attached); Mid-rise building; Single-story unit; Entry on level 3
• Construction: Built according to public records; Actual year built reported
• Exterior features: Public water; Public sewer; Off Maple Street location

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall unit cooling
• Interior features: Total of 4 rooms; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $137k.

Deal economics

• At list price, monthly cash flow is $53 ($637/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Recommended offer: $135k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.8% 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: 18 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($947 loan paydown + $1k appreciation (1.1% local appreciation)).
• Hampden County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $17k; list at $137k implies a 706% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,945 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.20% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.66%
• DSCR: 1.07
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.17×
• Total profit: $6,689
• Equity at exit: $47,339

10-year hold

• IRR: 7.9%
• Equity multiple: 1.98×
• Total profit: $37,418
• Equity at exit: $63,351

Cash invested: $38,360 (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 01105

• Home prices YoY: 0.3%
• Active inventory: 18
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,646 high
• Mortgage (P&I): −$718
• Tax from tax record: −$114 /mo · $1,374/yr
• Insurance: −$57
• HOA: −$357
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $53

Break-even live

Break-even rent $1,579

Max offer price $137,000

Occupancy floor 92%

Sensitivity live

Price	-10% $131	-5% $92	+0% $53	+5% $14	+10% $-24
Rent	-10% $-77	-5% $-12	+0% $53	+5% $118	+10% $183
Rate	-1.0pp $122	-0.5pp $88	base $53	+0.5pp $18	+1.0pp $-19

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Mulberry St #519 Springfield, MA	2.0	1.0	840	$1,700	$2.02	22d	1	0.02mi
26 Avon Pl Unit 26 Springfield, MA	1.0	1.0	950	$1,350	$1.42	45d	1	0.20mi
141 Maple St Unit 143-23 Springfield, MA	1.0	1.0	625	$1,000	$1.60	45d	1	0.23mi
76 Maple St Unit 2 Springfield, MA	3.0	1.0	850	$1,850	$2.18	15d	1	0.28mi
76 Maple St Springfield, MA	2.0	1.0	800	$1,700	$2.12	22d	1	0.28mi
44 Dale St Springfield, MA	2.0	1.0	900	$1,600	$1.78	15d	1	0.35mi
11-31 Park St Unit 302 Springfield, MA	1.0	1.0	800	$1,800	$2.25	45d	1	0.43mi
15 Park St Unit 201 Springfield, MA	1.0	1.0	900	$1,699	$1.89	22d	1	0.43mi
87 Quincy St Unit 2R Springfield, MA	2.0	1.0	984	$1,695	$1.72	22d	1	0.44mi
14 Adams St Unit 2 Springfield, MA	2.0	1.0	890	$1,800	$2.02	15d	1	0.51mi
14 Adams St Unit 1 Springfield, MA	3.0	1.0	880	$1,800	$2.05	22d	1	0.51mi
114 William St Unit 1R Springfield, MA	1.0	1.0	600	$1,500	$2.50	45d	1	0.54mi
70 Chestnut St Springfield, MA	1.0	1.0	572	$1,344	$2.35	13d	2	0.55mi
38 Greenacre Sq Unit 2 Springfield, MA	2.0	1.0	900	$1,900	$2.11	22d	1	0.57mi
38 Greenacre Sq Unit 3 Springfield, MA	2.0	1.0	900	$1,700	$1.89	45d	1	0.57mi
27 Loring St Apt 1L Springfield, MA	2.0	1.0	800	$1,350	$1.69	22d	1	0.59mi
122 Chestnut St Springfield, MA	2.0	1.0	867	$1,899	$2.19	11d	6	0.60mi
140 Chestnut St Springfield, MA	1.0	1.0	728	$1,525	$2.09	45d	3	0.64mi
140 Chestnut St Springfield, MA	1.0	1.0	728	$1,600	$2.20	22d	2	0.64mi
241 Tyler St Springfield, MA	3.0	1.0	1082	$2,200	$2.03	15d	1	0.69mi
21 Chapel St Unit 2 Springfield, MA	3.0	1.0	1000	$1,700	$1.70	45d	1	0.79mi
77 Chester St Unit 77 Springfield, MA	2.0	1.0	900	$1,670	$1.86	45d	1	0.80mi
240 Locust St Apt 4L Springfield, MA	2.0	1.0	800	$1,734	$2.17	45d	1	0.81mi
15 Taylor St Springfield, MA	2.0	1.0–1.5	797	$2,251	$2.82	15d	21	0.84mi
17 Leyfred Ter Unit 1 R Springfield, MA	2.0	1.0	800	$1,650	$2.06	15d	1	0.92mi
65 Belmont Ave Unit 4 L Springfield, MA	2.0	1.0	800	$1,650	$2.06	22d	1	0.93mi
51 Vinton St #3 Springfield, MA	2.0	1.0	875	$2,000	$2.29	45d	1	0.96mi
7 Ledyard St Unit 7 Springfield, MA	3.0	1.0	1000	$1,920	$1.92	45d	1	1.01mi
106 Malden St Springfield, MA	2.0	1.0	664	$1,545	$2.33	12d	2	1.01mi
888 State St Apt 44 Springfield, MA	2.0	1.0	800	$1,500	$1.88	45d	1	1.03mi
186 Belmont Ave Unit 186-4R Springfield, MA	3.0	1.0	910	$1,300	$1.43	45d	1	1.06mi
122 Fort Pleasant Ave Unit Third Floor Springfield, MA	3.0	1.0	1000	$1,700	$1.70	22d	1	1.09mi
37 Chase Ave Unit 2nd Floor Springfield, MA	2.0	1.0	1000	$1,700	$1.70	45d	1	1.13mi
180 Oakland St Apt 7 Springfield, MA	2.0	1.0	750	$1,600	$2.13	15d	1	1.13mi
72 Kensington Ave Unit 2L Springfield, MA	2.0	1.0	1000	$1,595	$1.59	15d	1	1.14mi
72 Kensington Ave Unit 2L Springfield, MA	2.0	1.0	1000	$1,595	$1.59	22d	1	1.14mi
144 White St Springfield, MA	2.0	1.0	1100	$1,500	$1.36	15d	1	1.17mi
414 Chestnut St Springfield, MA	1.0–2.0	1.0	530	$1,615	$3.04	45d	1	1.24mi
52 Warner St Springfield, MA	1.0	1.0	900	$1,500	$1.67	15d	1	1.29mi
54 Clantoy St Unit 2 Springfield, MA	3.0	1.0	1000	$1,700	$1.70	45d	1	1.31mi

HOA detail condo

• Monthly dues: $357 · $4,284/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $137,000 Active 26 DOM
2. 2026-06-17
   days on market $137,000 Active 25 DOM
3. 2026-06-16
   days on market $137,000 Active 24 DOM
4. 2026-06-15
   days on market $137,000 Active 23 DOM
5. 2026-06-14
   days on market $137,000 Active 21 DOM
6. 2026-06-13
   days on market $137,000 Active 20 DOM
7. 2026-06-10
   days on market $137,000 Active 18 DOM
8. 2026-06-09
   days on market $137,000 Active 17 DOM
9. 2026-06-08
   days on market $137,000 Active 16 DOM
10. 2026-06-07
    days on market $137,000 Active 15 DOM
11. 2026-06-05
    days on market $137,000 Active 12 DOM
12. 2026-06-03
    days on market $137,000 Active 11 DOM
13. 2026-06-02
    days on market $137,000 Active 10 DOM
14. 2026-06-01
    days on market $137,000 Active 9 DOM
15. 2026-05-31
    days on market $137,000 Active 8 DOM
16. 2026-05-30
    days on market $137,000 Active 7 DOM
17. 2026-05-23
    listed $137,000 New
18. 2003-09-09
    soldstatus $17,000
19. 1998-10-07
    soldstatus $22,000
20. 1991-12-16
    soldstatus $30,000
21. 1991-04-17
    soldstatus $31,500

ⓘ 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: $1,374 · $114/mo
• Projected year-2 tax: $1,530 · $127/mo
• Expected delta: +$156/yr (+$13/mo · 11.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,749
• − Mortgage interest: −$7,674
• − Property taxes: −$1,374
• − Insurance: −$685
• − Repairs & maintenance: −$1,580
• − Management: −$1,580
• − HOA: −$4,284
• − Depreciation: −$3,985
• Taxable loss: −$1,414
• Est. tax savings @ 24.0%: +$339
• After-tax cash flow: $977/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
• City population: 61,006
• Population (ZIP): 11,469

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: Predominantly Hispanic (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 37% Black 14% White 10%
• Hispanic origin (detail): Puerto Rican 63% Dominican 5%
• Common ancestry: Lithuanian 1% Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 44% English-only · Spanish 53% Other Indo-European 2% French/Haitian/Cajun 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: ▲ 1.08%
• Current HPI: 322.6127
• 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

+334.9% since first listed

5 events — show timeline

• 2026-05-23 Listed $137,000 MLS PIN
• 2003-09-09 Sold (Public Records) $17,000 Public Records
• 1998-10-07 Sold (Public Records) $22,000 Public Records
• 1991-12-16 Sold (Public Records) $30,000 Public Records
• 1991-04-17 Sold (Public Records) $31,500 Public Records

Property tax history

+1.7%/yr

Latest (2023): $1,374 · +16.6% YoY. Source: county tax records.