704-708 Sumner Ave · Springfield, MA 01108

$499,900

12 bd · 6.0 ba · 5,327 sqft · MultiFamily · 15 Days on market

Built 1920 Fair condition 4,791 sqft lot Est $565k · 11% 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 +24.9/30.0
• ARV discount +12.7/15.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• 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

Prime Mixed-Use Investment Opportunity! 704-708 Sumner Ave offers a unique opportunity to own a mixed-use property with both commercial and residentialincome potential. The street-level commercial space features excellent frontage, prominent signage, multiple offices, reception and waiting areas, making it idealfor professional, medical, retail, or service-based businesses. Above, residential apartments provide additional income and long-term investment value. Theproperty offers off-street parking, separate utilities, multiple electrical panels, 15 year old roof and a flexible layout suited for owner-occupants and investors alike. Earning $4,700 per month rental income, there is room to inc

Key facts

• Separate utilities
• 15 year old roof
• Mixed-use property

Tags

• MIXED-USE PROPERTY
• STREET-LEVEL COMMERCIAL SPACE
• OFF-STREET PARKING
• SEPARATE UTILITIES
• MULTIPLE ELECTRICAL PANELS
• 15 YEAR OLD ROOF

Property features AI

Finance

• Financial info: Active listing
• HOA & community: Not a senior community

Exterior

• Parking: Paved driveway; 3 open parking spaces
• Utilities: Public water; Public sewer
• Home design: 2-family rooming house; 2 stories
• Construction: Concrete perimeter foundation; Built (year per public records)
• Exterior features: Level lot

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Living room; Kitchen; 8 total rooms

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $500k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $357/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $500k).
• Recommended offer: $492k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: 43 active listings in the ZIP; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).
• At $5,729/mo this rent would consume 136% of the median local household income ($51k/yr) (locally 2272% 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 $15k 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 ($492k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $492,401 (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 1920 — 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: 1.15% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.18%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $564,662
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
742 Belmont Ave	0.21mi	11/5.0 (-1)	5,518 (+4%)	6mo	$545,000	$99	70
92-94 Beaumont St	0.53mi	12/3.5	4,577 (-14%)	7mo	$485,000	$106	36

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: -2.4%
• Equity multiple: 0.91×
• Total profit: $-12,693
• Equity at exit: $74,537

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $77,151
• Equity at exit: $43,222

Cash invested: $139,972 (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 01108

• Home prices YoY: -23.0%
• Active inventory: 43
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $5,729 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,498/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,203
• Net cashflow: $1,071

Break-even live

Break-even rent $4,373

Max offer price $499,900

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,730
Total (3 units)			$5,729

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $499,900 Active 15 DOM
2. 2026-06-17
   days on market $499,900 Active 14 DOM
3. 2026-06-16
   days on market $499,900 Active 13 DOM
4. 2026-06-15
   days on market $499,900 Active 12 DOM
5. 2026-06-14
   days on market $499,900 Active 10 DOM
6. 2026-06-13
   days on market $499,900 Active 9 DOM
7. 2026-06-10
   days on market $499,900 Active 7 DOM
8. 2026-06-09
   days on market $499,900 Active 6 DOM
9. 2026-06-08
   days on market $499,900 Active 5 DOM
10. 2026-06-07
    statusdays on market $499,900 Active 4 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $499,900 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: $68,748
• − Mortgage interest: −$28,002
• − Property taxes: −$7,498
• − Insurance: −$2,500
• − Repairs & maintenance: −$5,500
• − Management: −$5,500
• − Depreciation: −$14,543
• Taxable income: $5,206
• Est. tax owed @ 24.0%: −$1,249
• After-tax cash flow: $11,605/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 · 14 photos

Fair 45/100 Moderate rehab

The property presents as a moderate rehab opportunity with fair condition. Updates to the bathroom, exterior, and landscaping will significantly enhance its value.

Repairs flagged

• Major Bathroom — Dated wood paneling and basic fixtures need replacement.
• Moderate Exterior siding — Some discoloration and wear visible, may need repainting or replacement.
• Minor Landscaping — Overgrown areas and lack of curb appeal need attention.

Value-add opportunities

• Resale Replace bathroom fixtures and paneling — Updating the bathroom will significantly improve the home's appeal and value.
• Resale Paint exterior siding — Fresh paint will improve the home's curb appeal and overall condition.
• Both Landscaping improvements — Enhanced landscaping will improve both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Bathroom · Dated wood paneling and basic fixtures need replacement.	Major	$15,000–50,000
Exterior siding · Some discoloration and wear visible, may need repainting or replacement.	Moderate	$3,000–15,000
Landscaping · Overgrown areas and lack of curb appeal need attention.	Minor	$500–3,000
Total estimated repair cost · 3 items		$18,500–68,000

Value-add ROI direction

• Resale Replace bathroom fixtures and paneling — Updating the bathroom will significantly improve the home's appeal and value. ↑
• Resale Paint exterior siding — Fresh paint will improve the home's curb appeal and overall condition. ↑
• Both Landscaping improvements — Enhanced landscaping will improve both 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): 27,405
• Household income: $50,661
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 2272.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 41% White 31% Two or more races 20% Black 19% Asian 7%
• Hispanic origin (detail): Puerto Rican 30% Dominican 7%
• Common ancestry: Lithuanian 3% Romanian 1% Hispanic 1%
• Foreign-born: 16% · Canada, Vietnam, India
• Languages at home: 60% English-only · Spanish 26% Vietnamese 4% Other Indo-European 4%

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: ▼ -96.40%
• Current HPI: 322.6677
• 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

• 2026-06-03 Listed $499,900 MLS PIN