33-35 Algonquin Pl · Springfield, MA 01104

$374,900

7 bd · 3.0 ba · 3,099 sqft · MultiFamily public records · 30 Days on market

Built 1925 5,001 sqft lot Est $465k · 19% 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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +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

A rare opportunity to own a fully VACANT two family home minutes away from Mercy Hospital! This fabulous investment has renovated units and a bonus finished attic. The roof is less than 5 years old and the electrical has also been updated. Maximize this opportunity and book your showing today!

Key facts

• Lead compliant
• Spacious kitchens
• Private yard

Tags

• VACANT 2ND FLOOR UNIT
• LEAD COMPLIANT
• SPACIOUS KITCHENS
• LARGE LIVING AREAS
• PRIVATE YARD
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Building area approximately 3,091 total
• HOA & community: Public transportation nearby

Exterior

• Parking: Open parking with 4 spaces
• Utilities: Public water; Public sewer
• Home design: 2-family up/down configuration; 3 stories total; Yellow exterior
• Construction: Frame construction; Block foundation; Shingle roof; Lead paint: certified treated; Built date from public records
• Exterior features: Fenced/enclosed yard; Paved drive

Interior

• Kitchen: Range; Refrigerator; Supports gas or electric range
• Bathrooms: 2 full bathrooms
• Interior features: Living room; Dining room; Total of 17 rooms

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive. Per door: $387/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $369k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: 23 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $3k of loan paydown is wiped out by about $11k 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 30 days — a 2% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 32y 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $369,276 (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. Built in 1925 — 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. 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: 1.10% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.85%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $464,850
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
57 Narragansett St	0.21mi	7/3.0	2,896 (-7%)	2mo	$500,000	$173	78
42-44 Narragansett St	0.21mi	8/3.0 (+1)	3,040 (-2%)	8mo	$467,000	$154	76
133 Massasoit St	0.23mi	8/4.0 (+1)	3,111 (+0%)	8mo	$475,000	$153	73
13 Ringgold St	0.44mi	7/3.0	2,876 (-7%)	3mo	$305,000	$106	65
211-213 Chapin Ter	0.25mi	8/3.0 (+1)	3,475 (+12%)	2mo	$450,000	$129	62
68-72 Mooreland St	0.36mi	6/3.0 (-1)	3,405 (+10%)	1mo	$420,000	$123	61
122-124 Mooreland St	0.40mi	7/3.0	2,780 (-10%)	7mo	$410,000	$147	58
85 Knollwood St	0.26mi	6/2.0 (-1)	2,808 (-9%)	9mo	$415,000	$148	56
571-573 Carew St	0.34mi	7/4.0	2,673 (-14%)	3mo	$412,000	$154	54
68 Waverly St	0.56mi	6/3.0 (-1)	2,848 (-8%)	7mo	$441,000	$155	50
708-710 Carew St	0.60mi	8/3.0 (+1)	2,772 (-11%)	2mo	$415,000	$150	48
56-58 Phoenix St	0.71mi	7/3.0	2,690 (-13%)	7mo	$385,000	$143	39

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: -2.9%
• Equity multiple: 0.89×
• Total profit: $-11,455
• Equity at exit: $55,899

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $53,508
• Equity at exit: $32,415

Cash invested: $104,972 (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 01104

• Home prices YoY: -21.1%
• Active inventory: 23
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $4,137 high
• Mortgage (P&I): −$1,966
• Tax from tax record: −$372 /mo · $4,465/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$869
• Net cashflow: $774

Break-even live

Break-even rent $3,157

Max offer price $374,900

Occupancy floor 76%

Sensitivity live

Price	-10% $986	-5% $880	+0% $774	+5% $668	+10% $562
Rent	-10% $447	-5% $611	+0% $774	+5% $937	+10% $1,101
Rate	-1.0pp $963	-0.5pp $869	base $774	+0.5pp $677	+1.0pp $578

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$4,138
Total (2 units)			$4,137

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: $93,725
• Closing costs: $11,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
177 Springfield St Springfield, MA	6.0	4.0	3953	$4,900	$1.24	14d	1	0.62mi

Listing history 27 events

1. 2026-06-18
   days on market $374,900 Active 30 DOM
2. 2026-06-17
   days on market $374,900 Active 29 DOM
3. 2026-06-16
   days on market $374,900 Active 28 DOM
4. 2026-06-15
   days on market $374,900 Active 27 DOM
5. 2026-06-14
   days on market $374,900 Active 25 DOM
6. 2026-06-13
   days on market $374,900 Active 24 DOM
7. 2026-06-10
   days on market $374,900 Active 22 DOM
8. 2026-06-09
   days on market $374,900 Active 21 DOM
9. 2026-06-08
   days on market $374,900 Active 20 DOM
10. 2026-06-07
    statusdays on market $374,900 Active 19 DOM
11. 2026-06-05
    days on market $374,900 Price Changed 16 DOM
12. 2026-06-03
    pricestatusdays on market $374,900 Price Changed 15 DOM
13. 2026-06-02
    days on market $389,900 Active 14 DOM
14. 2026-06-01
    days on market $389,900 Active 13 DOM
15. 2026-05-31
    days on market $389,900 Active 12 DOM
16. 2026-05-30
    days on market $389,900 Active 11 DOM
17. 2026-05-18
    listed $389,900 New
18. 2022-08-18
    soldstatus $330,000 Sold 295-char remark

    Show marketing remark (295 chars)

    A rare opportunity to own a fully VACANT two family home minutes away from Mercy Hospital! This fabulous investment has renovated units and a bonus finished attic. The roof is less than 5 years old and the electrical has also been updated. Maximize this opportunity and book your showing today!

19. 2022-07-19
    status Under Agreement 295-char remark

    Show marketing remark (295 chars)

    A rare opportunity to own a fully VACANT two family home minutes away from Mercy Hospital! This fabulous investment has renovated units and a bonus finished attic. The roof is less than 5 years old and the electrical has also been updated. Maximize this opportunity and book your showing today!

20. 2022-07-09
    listed $299,999 New 295-char remark

    Show marketing remark (295 chars)

    A rare opportunity to own a fully VACANT two family home minutes away from Mercy Hospital! This fabulous investment has renovated units and a bonus finished attic. The roof is less than 5 years old and the electrical has also been updated. Maximize this opportunity and book your showing today!

21. 2012-07-19
    soldstatus $40,000 407-char remark

    Show marketing remark (407 chars)

    Large 2 Family in need of rehab. Missing plumbing, doors, windows. Purchaser responsible for obtaining smoke/co certificate & final water/sewer. Note: Proof of funds must be submitted with all cash offers. All non-cash offers must have a pre-qualification letter from Bank of America Home Loans. No changes to corporate addendum. Please allow Seller 2-3 days to respond to offers. Sold "AS-IS"

22. 2012-03-03
    listed $19,900 407-char remark

    Show marketing remark (407 chars)

    Large 2 Family in need of rehab. Missing plumbing, doors, windows. Purchaser responsible for obtaining smoke/co certificate & final water/sewer. Note: Proof of funds must be submitted with all cash offers. All non-cash offers must have a pre-qualification letter from Bank of America Home Loans. No changes to corporate addendum. Please allow Seller 2-3 days to respond to offers. Sold "AS-IS"

23. 2006-11-08
    soldstatus $160,000
24. 2004-12-03
    soldstatus $134,000
25. 2004-05-29
    listed $134,000
26. 1995-04-05
    soldstatus $9,000
27. 1994-08-01
    listed $24,900

ⓘ 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: $4,465 · $372/mo
• Projected year-2 tax: $4,538 · $378/mo
• Expected delta: +$73/yr (+$6/mo · 1.6%)

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

Taxation est. · year 1

• Rental income: $49,644
• − Mortgage interest: −$21,000
• − Property taxes: −$4,465
• − Insurance: −$1,874
• − Repairs & maintenance: −$3,972
• − Management: −$3,972
• − Depreciation: −$10,906
• Taxable income: $3,455
• Est. tax owed @ 24.0%: −$829
• After-tax cash flow: $8,458/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): 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

+1465.9% since first listed

11 events — show timeline

• 2026-05-18 Listed $389,900 MLS PIN
• 2022-08-18 Sold (MLS) $330,000 MLS PIN
• 2022-07-19 Pending — MLS PIN
• 2022-07-09 Listed $299,999 MLS PIN
• 2012-07-19 Sold (MLS) $40,000 MLS PIN
• 2012-03-03 Listed $19,900 MLS PIN
• 2006-11-08 Sold (Public Records) $160,000 Public Records
• 2004-12-03 Sold (MLS) $134,000 MLS PIN
• 2004-05-29 Listed $134,000 MLS PIN
• 1995-04-05 Sold (MLS) $9,000 MLS PIN
• 1994-08-01 Listed $24,900 MLS PIN

Property tax history

+6.1%/yr

Latest (2023): $4,465 · +21.4% YoY. Source: county tax records.