1030 Worthington St · Springfield, MA 01109

$274,995

5 bd · 2.5 ba · 4,770 sqft · SingleFamily public records · 72 Days on market

Built 1850 0.31 ac lot $58/sqft · 16% below area Est $326k · 16% 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 +24.6/30.0
• ARV discount +14.5/15.0
• DSCR +7.9/10.0
• 1% rule +6.5/10.0
• 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

Listing remarks MLS

Own a true piece of Springfield history with this rare and architecturally significant residence located in the historic McKnight neighborhood. This Italianate-style home predates much of the surrounding development and reflects a time when Springfield was emerging as a center of innovation and industry. Offering approximately 4,700+ sq ft with 5+ bedrooms, multiple fireplaces, and distinctive period details, this home presents a rare opportunity for restoration. Expansive living spaces, high ceilings, and historic elements are ready to be brought back to life. This is a full renovation project, ideal for investors, contractors, or preservation enthusiasts seeking a high-upside asset. Once restored, the property has the potential to be one of Springfield’s standout homes. Situated on a sizable lot in a historic district known for its character and architectural significance, this is a rare opportunity to revitalize a landmark and create long-term value. Schedule your showing today.

Key facts

• Multiple fireplaces
• Sizable lot
• Historic district

Tags

• HISTORIC MCKNIGHT NEIGHBORHOOD
• ITALIANATE STYLE HOME
• MULTIPLE FIREPLACES
• DISTINCTIVE PERIOD DETAILS
• SIZABLE LOT
• HISTORIC DISTRICT

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $258k (6.0% 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: 32 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).
• At $3,165/mo this rent would consume 78% 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 $8k 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 72 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $275k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $258,495 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.86%
• DSCR: 1.39
• GRM: 7.2

CMA / ARV

• ARV (median comp): $325,660
• List price: $274,995
• Delta: -15.56%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

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: $-8,278
• Equity at exit: $41,003

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $39,698
• Equity at exit: $23,777

Cash invested: $76,999 (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: 7.2×

Monthly cashflow live

• Estimated rent: $3,165 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$375 /mo · $4,499/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$665
• Net cashflow: $569

Break-even live

Break-even rent $2,445

Max offer price $274,995

Occupancy floor 77%

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: $68,749
• Closing costs: $8,250
• 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	13d	1	1.48mi

Listing history 25 events

1. 2026-06-18
   days on market $274,995 Active 72 DOM
2. 2026-06-17
   days on market $274,995 Active 71 DOM
3. 2026-06-16
   days on market $274,995 Active 70 DOM
4. 2026-06-15
   days on market $274,995 Active 69 DOM
5. 2026-06-14
   days on market $274,995 Active 67 DOM
6. 2026-06-13
   days on market $274,995 Active 66 DOM
7. 2026-06-10
   days on market $274,995 Active 64 DOM
8. 2026-06-09
   days on market $274,995 Active 63 DOM
9. 2026-06-08
   days on market $274,995 Active 62 DOM
10. 2026-06-07
    days on market $274,995 Active 61 DOM
11. 2026-06-05
    days on market $274,995 Active 58 DOM
12. 2026-06-03
    days on market $274,995 Active 57 DOM
13. 2026-06-02
    days on market $274,995 Active 56 DOM
14. 2026-06-01
    days on market $274,995 Active 55 DOM
15. 2026-05-31
    days on market $274,995 Active 54 DOM
16. 2026-05-30
    days on market $274,995 Active 53 DOM
17. 2026-05-18
    price $274,995 1002-char remark

    Show marketing remark (1002 chars)

    Own a true piece of Springfield history with this rare and architecturally significant residence located in the historic McKnight neighborhood. This Italianate-style home predates much of the surrounding development and reflects a time when Springfield was emerging as a center of innovation and industry. Offering approximately 4,700+ sq ft with 5+ bedrooms, multiple fireplaces, and distinctive period details, this home presents a rare opportunity for restoration. Expansive living spaces, high ceilings, and historic elements are ready to be brought back to life. This is a full renovation project, ideal for investors, contractors, or preservation enthusiasts seeking a high-upside asset. Once restored, the property has the potential to be one of Springfield’s standout homes. Situated on a sizable lot in a historic district known for its character and architectural significance, this is a rare opportunity to revitalize a landmark and create long-term value. Schedule your showing today.

18. 2026-04-07
    listed $299,900 New 1002-char remark

    Show marketing remark (1002 chars)

    Own a true piece of Springfield history with this rare and architecturally significant residence located in the historic McKnight neighborhood. This Italianate-style home predates much of the surrounding development and reflects a time when Springfield was emerging as a center of innovation and industry. Offering approximately 4,700+ sq ft with 5+ bedrooms, multiple fireplaces, and distinctive period details, this home presents a rare opportunity for restoration. Expansive living spaces, high ceilings, and historic elements are ready to be brought back to life. This is a full renovation project, ideal for investors, contractors, or preservation enthusiasts seeking a high-upside asset. Once restored, the property has the potential to be one of Springfield’s standout homes. Situated on a sizable lot in a historic district known for its character and architectural significance, this is a rare opportunity to revitalize a landmark and create long-term value. Schedule your showing today.

19. 2015-04-30
    soldstatus $79,500 1007-char remark

    Show marketing remark (1007 chars)

    Bring your flashlight to insure you’re able to clearly see the history, style, charm and character of this potentially exquisite home built for George Kibbe of the Springfield Massachusetts based Kibbe Candy Company which dates back to the mid 1850’s. Located in the historic Hill McKnight area, the home is a true diamond in the rough and awaits the careful hand of a lover of magnificent homes to bring it back to it back to its rightful position as one of the Springfield's grand homes and a prime example of why Springfield became known as the The City of Homes. This wonderful Italianate Victorian features five fireplaces, two floors of living area, a partially finished attic (probably the servant’s quarters) and is capped with a widow’s walk for a panoramic view of the surrounding area. As noted this is an historic home that will require a complete renovation and as such is being sold as is with no warranties offered. APO two underground oil tanks are on property.

20. 2014-10-29
    listed $79,000 1007-char remark

    Show marketing remark (1007 chars)

    Bring your flashlight to insure you’re able to clearly see the history, style, charm and character of this potentially exquisite home built for George Kibbe of the Springfield Massachusetts based Kibbe Candy Company which dates back to the mid 1850’s. Located in the historic Hill McKnight area, the home is a true diamond in the rough and awaits the careful hand of a lover of magnificent homes to bring it back to it back to its rightful position as one of the Springfield's grand homes and a prime example of why Springfield became known as the The City of Homes. This wonderful Italianate Victorian features five fireplaces, two floors of living area, a partially finished attic (probably the servant’s quarters) and is capped with a widow’s walk for a panoramic view of the surrounding area. As noted this is an historic home that will require a complete renovation and as such is being sold as is with no warranties offered. APO two underground oil tanks are on property.

21. 2009-08-07
    soldstatus $51,500
22. 2009-08-07
    soldstatus $51,500
23. 2009-06-22
    listed $51,500
24. 2009-06-22
    listed $51,500
25. 1993-08-09
    soldstatus $30,000

ⓘ 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: $4,499 · $375/mo
• Projected year-2 tax: $4,499 · $375/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $37,978
• − Mortgage interest: −$15,404
• − Property taxes: −$4,499
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,038
• − Management: −$3,038
• − Depreciation: −$8,000
• Taxable income: $2,624
• Est. tax owed @ 24.0%: −$630
• After-tax cash flow: $6,194/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

+816.6% since first listed

9 events — show timeline

• 2026-05-18 Price Changed $274,995 MLS PIN
• 2026-04-07 Listed $299,900 MLS PIN
• 2015-04-30 Sold (MLS) $79,500 MLS PIN
• 2014-10-29 Listed $79,000 MLS PIN
• 2009-08-07 Sold (MLS) $51,500 Smart MLS
• 2009-08-07 Sold (MLS) $51,500 MLS PIN
• 2009-06-22 Listed $51,500 Smart MLS
• 2009-06-22 Listed $51,500 MLS PIN
• 1993-08-09 Sold (Public Records) $30,000 Public Records

Property tax history

+2.9%/yr

Latest (2023): $4,499 · -2.3% YoY. Source: county tax records.