774-776 Liberty St · Springfield, MA 01104

$330,000

None bd · 3.0 ba · 1,740 sqft · MultiFamily · 272 Days on market

Built 1914 Good condition 1,995 sqft lot $190/sqft · 7% below area Est $354k · 7% under

---

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 +21.4/30.0
• ARV discount +10.6/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Great opportunity to own this investment property. This property offers a functioning barbershop and a second floor three bedroom apartment. The second floor unit has hardwood floors throughout, eat-in kitchen, large living room with picture window and a master bedroom offering a walk-in closet. Barber Shop brings in consistent cash flow! Central location close to highway, Baystate Hospital, shopping and more.  Don't miss out schedule your showing today.

Key facts

• Walk-in closet
• Central location
• Large living room

Tags

• SECOND FLOOR APARTMENT
• HARDWOOD FLOORS
• EAT-IN KITCHEN
• LARGE LIVING ROOM
• WALK-IN CLOSET
• CENTRAL LOCATION

What this means for you Summary

Snapshot

• This is a 2 × ?-bed/1.5-bath units multifamily listed at $330k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive. Per door: $245/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $290k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: 23 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $10k 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 272 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $55k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $240k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $290,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 272 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.06% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.37%
• DSCR: 1.28
• GRM: 7.8

CMA / ARV

• ARV (median comp): $354,121
• List price: $330,000
• Delta: -6.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
82-84 Cherrelyn St	0.26mi	4/3.0	1,800 (+3%)	7mo	$375,000	$208	76
809 Carew St	0.14mi	4/2.0	1,948 (+12%)	4mo	$330,000	$169	66
60-62 Desrosiers St	0.58mi	4/3.0	1,754 (+1%)	7mo	$400,000	$228	65
193-195 Nottingham St	0.56mi	4/3.0	1,728 (-1%)	10mo	$335,000	$194	64
52-54 Cherrelyn St	0.21mi	4/2.0	1,920 (+10%)	10mo	$350,000	$182	61
882-884 Liberty St	0.20mi	5/2.0	1,972 (+13%)	4mo	$393,900	$200	61
17-19 Tacoma St	0.36mi	4/2.0	1,850 (+6%)	10mo	$315,000	$170	60
47-49 Governor St	0.20mi	4/2.0	1,976 (+14%)	12mo	$376,000	$190	54
47 Van Buren Ave	0.32mi	4/2.0	1,960 (+13%)	11mo	$365,000	$186	51
183-185 Middle St	0.56mi	4/2.0	1,848 (+6%)	13mo	$400,000	$216	49
15-17 Francis St	0.55mi	4/3.0	1,960 (+13%)	12mo	$380,000	$194	43
443-445 Franklin St	0.55mi	6/2.0	1,994 (+15%)	13mo	$325,000	$163	35

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-22,164
• Equity at exit: $49,204

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $21,163
• Equity at exit: $28,532

Cash invested: $92,400 (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 01104

• Home prices YoY: -21.1%
• Active inventory: 23
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $3,508 high
• Mortgage (P&I): −$1,731
• Tax est. 1.5%: −$412 /mo · $4,950/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$737
• Net cashflow: $491

Break-even live

Break-even rent $2,887

Max offer price $330,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	0	1.5	$3,508
Total (2 units)			$3,508

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
46-48 Wait St Unit 2 Springfield, MA	3.0	1.0	1200	$1,850	$1.54	43d	1	0.29mi
16 Amherst St Unit 1 Springfield, MA	3.0	1.0	1200	$1,950	$1.62	13d	1	0.90mi
33 Grant St Unit 37 Springfield, MA	3.0	1.5	1760	$2,275	$1.29	21d	1	0.94mi
892 Saint James Ave Springfield, MA	2.0	1.0	1283	$1,650	$1.29	13d	1	1.07mi
12 Putnam Cir Springfield, MA	3.0	1.0	1200	$1,700	$1.42	43d	1	1.25mi
529 Union St Apt 1R Springfield, MA	3.0	1.0	1200	$2,000	$1.67	21d	1	1.28mi
529 Union St Apt 1L Springfield, MA	3.0	1.0	1200	$1,800	$1.50	43d	1	1.28mi
93 Orleans St #93 Springfield, MA	3.0	1.5	1408	$2,050	$1.46	13d	1	1.34mi
122 Chestnut St Springfield, MA	2.0	1.0	867	$1,899	$2.19	10d	6	1.36mi

Listing history 24 events

1. 2026-06-18
   days on market $330,000 Active 272 DOM
2. 2026-06-17
   days on market $330,000 Active 271 DOM
3. 2026-06-16
   days on market $330,000 Active 270 DOM
4. 2026-06-15
   days on market $330,000 Active 269 DOM
5. 2026-06-14
   days on market $330,000 Active 267 DOM
6. 2026-06-13
   statusdays on market $330,000 Active 266 DOM
7. 2026-06-10
   days on market $330,000 Price Changed 264 DOM
8. 2026-06-09
   days on market $330,000 Price Changed 263 DOM
9. 2026-06-09
   pricestatus $330,000 Price Changed 262 DOM
10. 2026-06-08
    days on market $345,000 Active 262 DOM
11. 2026-06-07
    days on market $345,000 Active 261 DOM
12. 2026-06-05
    days on market $345,000 Active 258 DOM
13. 2026-06-03
    days on market $345,000 Active 257 DOM
14. 2026-06-02
    days on market $345,000 Active 256 DOM
15. 2026-06-01
    days on market $345,000 Active 255 DOM
16. 2026-05-31
    days on market $345,000 Active 254 DOM
17. 2026-05-30
    days on market $345,000 Active 253 DOM
18. 2026-03-27
    price $345,000 463-char remark

    Show marketing remark (463 chars)

    Great opportunity to own this investment property. This property offers a functioning barbershop and a second floor three bedroom apartment. The second floor unit has hardwood floors throughout, eat-in kitchen, large living room with picture window and a master bedroom offering a walk-in closet. Barber Shop brings in consistent cash flow! Central location close to highway, Baystate Hospital, shopping and more.  Don't miss out schedule your showing today.

19. 2025-11-19
    price $365,000 463-char remark

    Show marketing remark (463 chars)

    Great opportunity to own this investment property. This property offers a functioning barbershop and a second floor three bedroom apartment. The second floor unit has hardwood floors throughout, eat-in kitchen, large living room with picture window and a master bedroom offering a walk-in closet. Barber Shop brings in consistent cash flow! Central location close to highway, Baystate Hospital, shopping and more.  Don't miss out schedule your showing today.

20. 2025-09-19
    listed $385,000 New 463-char remark

    Show marketing remark (463 chars)

    Great opportunity to own this investment property. This property offers a functioning barbershop and a second floor three bedroom apartment. The second floor unit has hardwood floors throughout, eat-in kitchen, large living room with picture window and a master bedroom offering a walk-in closet. Barber Shop brings in consistent cash flow! Central location close to highway, Baystate Hospital, shopping and more.  Don't miss out schedule your showing today.

21. 2023-01-04
    soldstatus $240,000 Sold 468-char remark

    Show marketing remark (468 chars)

    Great opportunity to own this investment property. This property offers a functioning barbershop and a VACANT second floor three bedroom apartment. The second floor unit has just been freshly painted and also offers hardwood floors throughout, eat-in kitchen, large living room with picture window and a master bedroom offering a walk-in closet. Central location close to highway, Baystate Hospital, shopping and more.  Don't miss out schedule your showing today.

22. 2022-12-14
    status Under Agreement 468-char remark

    Show marketing remark (468 chars)

    Great opportunity to own this investment property. This property offers a functioning barbershop and a VACANT second floor three bedroom apartment. The second floor unit has just been freshly painted and also offers hardwood floors throughout, eat-in kitchen, large living room with picture window and a master bedroom offering a walk-in closet. Central location close to highway, Baystate Hospital, shopping and more.  Don't miss out schedule your showing today.

23. 2022-11-21
    price $289,900 468-char remark

    Show marketing remark (468 chars)

    Great opportunity to own this investment property. This property offers a functioning barbershop and a VACANT second floor three bedroom apartment. The second floor unit has just been freshly painted and also offers hardwood floors throughout, eat-in kitchen, large living room with picture window and a master bedroom offering a walk-in closet. Central location close to highway, Baystate Hospital, shopping and more.  Don't miss out schedule your showing today.

24. 2022-10-25
    listed $299,900 New 468-char remark

    Show marketing remark (468 chars)

    Great opportunity to own this investment property. This property offers a functioning barbershop and a VACANT second floor three bedroom apartment. The second floor unit has just been freshly painted and also offers hardwood floors throughout, eat-in kitchen, large living room with picture window and a master bedroom offering a walk-in closet. Central location close to highway, Baystate Hospital, shopping and more.  Don't miss out schedule your showing today.

ⓘ 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: $42,096
• − Mortgage interest: −$18,485
• − Property taxes: −$4,950
• − Insurance: −$1,650
• − Repairs & maintenance: −$3,368
• − Management: −$3,368
• − Depreciation: −$9,600
• Taxable income: $676
• Est. tax owed @ 24.0%: −$162
• After-tax cash flow: $5,727/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 · 13 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with a functioning barbershop and a second-floor apartment. It offers a great investment opportunity with consistent cash flow and a central location.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Updating the kitchen appliances — Modern appliances can improve the functionality and appeal of the kitchen, making it more attractive to potential buyers and renters.
• Both Landscaping improvements — Well-maintained landscaping can enhance the curb appeal and overall aesthetic of the property, making it more attractive to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the kitchen appliances — Modern appliances can improve the functionality and appeal of the kitchen, making it more attractive to potential buyers and renters. ↑
• Both Landscaping improvements — Well-maintained landscaping can enhance the curb appeal and overall aesthetic of the property, making it more attractive to potential buyers and renters. ↑

ⓘ 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): 21,745

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 0.56)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 35% White 25% Black 13% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 48% Dominican 4%
• Common ancestry: Lithuanian 3% Romanian 2% Hispanic 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 50% English-only · Spanish 45% French/Haitian/Cajun 1% Chinese 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: ▼ -99.49%
• Current HPI: 371.3425
• 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

+15.0% since first listed

7 events — show timeline

• 2026-03-27 Price Changed $345,000 MLS PIN
• 2025-11-19 Price Changed $365,000 MLS PIN
• 2025-09-19 Listed $385,000 MLS PIN
• 2023-01-04 Sold (MLS) $240,000 MLS PIN
• 2022-12-14 Pending — MLS PIN
• 2022-11-21 Price Changed $289,900 MLS PIN
• 2022-10-25 Listed $299,900 MLS PIN