59-61 Carlisle St · Springfield, MA 01109

$399,900

5 bd · 3.0 ba · 3,083 sqft · MultiFamily public records · 7 Days on market

Built 1926 6,268 sqft lot Est $268k · 49% over

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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 +22.8/30.0
• DSCR +7.3/10.0
• 1% rule +5.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• 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

Two family dwelling with large spacious rooms. 2 BR each apartment, Full walkup attic area. Two car garage detached, Corner lot, fenced in yard. Fannie Mae Homepath Property, Approved for Homepath Renovation Mortgage.

Key facts

• Separate utilities
• Access to route 91
• Multi-family home

Tags

• MULTI-FAMILY HOME
• THIRD-FLOOR IN-LAW STUDIO
• RECENT MECHANICAL UPDATES
• DETACHED TWO-CAR GARAGE
• SEPARATE UTILITIES
• ACCESS TO ROUTE 91

Property features AI

Finance

• Other: Building total area approximately 3,351; Lot about 0.14 acres
• Financial info: $4,701 annual property tax (2025)
• HOA & community: Nearby public transportation; Close to shopping

Exterior

• Parking: 2-car garage (covered); 2 covered spaces; 4 open parking spaces; Total of 6 parking spaces; Off-street parking
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Multi-family property; 3 stories; 3 total levels
• Construction: Stone foundation; Approximate year built (public records)
• Exterior features: Porch; Corner lot; Public road frontage

Interior

• Flooring: Varied flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Wall unit cooling
• Interior features: Living room; Kitchen; Insulated windows; Full basement; 15 total rooms

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $697 ($8k/yr) — positive. Per door: $349/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Cap rate 8.4% 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 $4,165/mo this rent would consume 103% 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 24y 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 $64k; list at $400k implies a 520% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $399,900

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. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.04% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.47%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $268,221
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
283 Wilbraham Rd	0.26mi	6/3.0 (+1)	3,073 (-0%)	1mo	$240,000	$78	82
35-37 Suffolk St	0.16mi	6/2.0 (+1)	3,082 (-0%)	12mo	$420,000	$136	73
98-100 Fenwick St	0.16mi	4/3.0 (-1)	2,772 (-10%)	9mo	$365,000	$132	63
157-159 Massachusetts Ave	0.50mi	5/2.0	3,060 (-1%)	12mo	$245,000	$80	62
68-70 Massachusetts Ave	0.49mi	6/3.0 (+1)	3,153 (+2%)	11mo	$406,000	$129	59
140 Northampton Ave	0.62mi	6/3.0 (+1)	2,976 (-4%)	4mo	$215,000	$72	56
188-190 Northampton Ave	0.66mi	6/3.0 (+1)	2,879 (-7%)	8mo	$250,000	$87	47
88 Massachusetts Ave	0.49mi	6/4.0 (+1)	3,318 (+8%)	12mo	$276,000	$83	45
118-120 Westford Cir	0.35mi	6/2.0 (+1)	2,673 (-13%)	10mo	$400,000	$150	44
95-97 Northampton Ave	0.58mi	4/2.0 (-1)	3,168 (+3%)	20mo	$200,000	$63	43
154 Cambridge St	0.72mi	6/3.0 (+1)	3,328 (+8%)	19mo	$390,000	$117	32

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: -4.9%
• Equity multiple: 0.82×
• Total profit: $-20,433
• Equity at exit: $59,626

10-year hold

• IRR: 4.8%
• Equity multiple: 1.35×
• Total profit: $39,221
• Equity at exit: $34,576

Cash invested: $111,972 (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: 16.0×

Monthly cashflow live

• Estimated rent: $4,165 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$329 /mo · $3,952/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$875
• Net cashflow: $697

Break-even live

Break-even rent $3,282

Max offer price $399,900

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,164
Total (2 units)			$4,165

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $399,900 Active 7 DOM
2. 2026-06-17
   days on market $399,900 Active 6 DOM
3. 2026-06-16
   days on market $399,900 Active 5 DOM
4. 2026-06-15
   statusdays on market $399,900 Active 4 DOM
5. 2026-06-14
   days on market $399,900 New 2 DOM
6. 2026-06-13
   remarks 693-char remark
7. 2026-06-13
   listed $399,900 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: $3,952 · $329/mo
• Projected year-2 tax: $4,435 · $370/mo
• Expected delta: +$483/yr (+$40/mo · 12.2%)

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

Taxation est. · year 1

• Rental income: $49,980
• − Mortgage interest: −$22,401
• − Property taxes: −$3,952
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,998
• − Management: −$3,998
• − Depreciation: −$11,633
• Taxable income: $1,998
• Est. tax owed @ 24.0%: −$479
• After-tax cash flow: $7,888/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

+225.4% since first listed

7 events — show timeline

• 2026-06-11 Listed $399,900 MLS PIN
• 2013-03-15 Sold (MLS) $64,500 MLS PIN
• 2012-09-08 Listed $69,900 MLS PIN
• 2002-08-14 Sold (Public Records) $120,000 Public Records
• 2002-08-14 Sold (Public Records) $120,000 Public Records
• 2002-08-14 Sold (MLS) $120,000 MLS PIN
• 2002-06-03 Listed $122,900 MLS PIN

Property tax history

+3.7%/yr

Latest (2023): $3,952 · -9.6% YoY. Source: county tax records.