746-748 Alden St · Springfield, MA 01109

$329,900

4 bd · 2.0 ba · 1,820 sqft · MultiFamily · 44 Days on market

Built 1966 Fair condition 7,401 sqft lot $181/sqft · at area comps Est $320k · at est.

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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 +26.0/30.0
• DSCR +8.8/10.0
• 1% rule +6.9/10.0
• ARV discount +6.1/15.0
• 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: 2 units. confirmed

Listing remarks MLS

Ranch style duplex conveniently located. Currently both sides rented, but can be sold fully or partially vacant.

Key facts

• Water views
• Turnkey 2-family
• Prime location

Tags

• WATER VIEWS
• PRIME LOCATION
• EASY TO MAINTAIN YARD
• NEWER HEATING SYSTEMS
• TURNKEY 2-FAMILY

Property features AI

Finance

• HOA & community: Community amenities include public transportation, shopping, park, walk/jog trails, medical facility, laundromat, bike path, highway access, house of worship, public school, university

Exterior

• Parking: Paved driveway/open parking; 4 parking spaces
• Utilities: Public water; Public sewer
• Home design: Multi-family property; 2 stories; Yellow exterior
• Construction: Built (per public records); Slab foundation
• Exterior features: Gentle sloping lot; Public road frontage; River waterview

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Unit 1: 1 level; Unit 2: 1 level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Living room; Kitchen; 8 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $330k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $823 ($10k/yr) — positive. Per door: $412/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $320k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $3,928/mo this rent would consume 97% 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 $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 44 days — a 3% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; list at $330k implies a 305% gain — meaningful room to come down on a strong offer.

Recommended offer $320,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.19% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.69%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (median comp): $319,739
• List price: $329,900
• Delta: 3.18%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128-130 Wellington St	0.51mi	4/2.0	1,944 (+7%)	18mo	$247,000	$127	49

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-965
• Equity at exit: $49,189

10-year hold

• IRR: 9.4%
• Equity multiple: 1.72×
• Total profit: $66,917
• Equity at exit: $28,524

Cash invested: $92,372 (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: 32
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $3,928 high
• Mortgage (P&I): −$1,730
• Tax est. 1.5%: −$412 /mo · $4,948/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$825
• Net cashflow: $823

Break-even live

Break-even rent $2,886

Max offer price $329,900

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,928
Total (2 units)			$3,928

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
53 Westford Cir Springfield, MA	3.0	1.0	1330	$1,750	$1.32	43d	1	0.65mi
49 Rittenhouse Ter Unit 1 Springfield, MA	3.0	1.0	1300	$2,000	$1.54	43d	1	1.34mi
41 Clarendon St Unit 2 Springfield, MA	5.0	1.5	1600	$2,350	$1.47	43d	1	1.39mi
93 Orleans St #93 Springfield, MA	3.0	1.5	1408	$2,050	$1.46	13d	1	1.44mi

Listing history 19 events

1. 2026-06-18
   days on market $329,900 Active 44 DOM
2. 2026-06-17
   days on market $329,900 Active 43 DOM
3. 2026-06-16
   days on market $329,900 Active 42 DOM
4. 2026-06-15
   days on market $329,900 Active 41 DOM
5. 2026-06-14
   days on market $329,900 Active 39 DOM
6. 2026-06-13
   days on market $329,900 Active 38 DOM
7. 2026-06-10
   days on market $329,900 Active 36 DOM
8. 2026-06-09
   days on market $329,900 Active 35 DOM
9. 2026-06-08
   days on market $329,900 Active 34 DOM
10. 2026-06-07
    days on market $329,900 Active 33 DOM
11. 2026-06-05
    days on market $329,900 Active 30 DOM
12. 2026-06-03
    days on market $329,900 Active 29 DOM
13. 2026-06-02
    days on market $329,900 Active 28 DOM
14. 2026-06-01
    statusdays on market $329,900 Active 27 DOM
15. 2026-05-31
    days on market $329,900 Price Changed 26 DOM
16. 2026-05-30
    days on market $329,900 Price Changed 25 DOM
17. 2026-05-05
    listed $349,900 New 901-char remark
18. 2010-11-09
    soldstatus $81,500 113-char remark

    Show marketing remark (113 chars)

    Ranch style duplex conveniently located. Currently both sides rented, but can be sold fully or partially vacant.

19. 2010-08-30
    listed $89,900 113-char remark

    Show marketing remark (113 chars)

    Ranch style duplex conveniently located. Currently both sides rented, but can be sold fully or partially vacant.

ⓘ 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: $47,136
• − Mortgage interest: −$18,480
• − Property taxes: −$4,948
• − Insurance: −$1,650
• − Repairs & maintenance: −$3,771
• − Management: −$3,771
• − Depreciation: −$9,597
• Taxable income: $4,920
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $8,698/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 · 12 photos

Fair 45/100 Moderate rehab

This 2-family property requires moderate renovations to improve its condition and value. Interior updates, such as painting and replacing countertops, would significantly enhance its appeal.

Repairs flagged

• Minor Kitchen countertops — Cluttered and could use cleaning
• Minor Bathroom fixtures — Simple and dated
• Moderate Exterior siding — Weathered and could benefit from repainting

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace countertops — Modern countertops improve functionality and resale value
• Both Update bathroom fixtures — Modern fixtures enhance functionality and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Cluttered and could use cleaning	Minor	$500–3,000
Bathroom fixtures · Simple and dated	Minor	$500–3,000
Exterior siding · Weathered and could benefit from repainting	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace countertops — Modern countertops improve functionality and resale value ↑
• Both Update bathroom fixtures — Modern fixtures enhance functionality and resale 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): 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

+267.0% since first listed

4 events — show timeline

• 2026-05-28 Price Changed $329,900 MLS PIN
• 2026-05-05 Listed $349,900 MLS PIN
• 2010-11-09 Sold (MLS) $81,500 MLS PIN
• 2010-08-30 Listed $89,900 MLS PIN