55-59 Margaret St · Springfield, MA 01105

$579,900

12 bd · 4.0 ba · 4,500 sqft · MultiFamily · 43 Days on market

Built 1923 Fair condition 4,025 sqft lot $129/sqft · 50% above area Est $388k · 50% over

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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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +7.0/10.0
• Appreciation +5.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Fantastic opportunity to own a 4 Unit building with 11 BR, lots of income potential! Two occupied units with good paying tenants. Two empty units to occupy, update, or rehab as you'd like. All units have separate utilities. Open to various offer and structure types.

Key facts

• Separate utilities
• Stable occupancy
• Solid rental history

Tags

• 4 UNIT BUILDING
• SEPARATE UTILITIES
• STABLE OCCUPANCY
• SOLID RENTAL HISTORY
• TURNKEY OPPORTUNITY
• EXPAND THE ATTIC

Property features AI

Finance

• Other: Approximately 4,500 total building area; Lot size about 0.09 acres
• HOA & community: Community features nearby include public transportation, shopping, pool, tennis courts, parks, walk/jog trails, golf, medical facility, laundromat, bike path, highway access, places of worship, private and public schools, and a university

Exterior

• Parking: No open parking spaces listed
• Utilities: Public water; Public sewer; Electric with circuit breakers; Gas or electric range hookups
• Home design: 4-family building; 4 stories
• Construction: Frame construction; Brick/mortar foundation; Shingle roof; Grey exterior; Lead paint certified treated
• Exterior features: Porch; Wood deck; Cleared, level lot; Paved road access

Interior

• Kitchen: Range; Refrigerator
• Flooring: Wood flooring; Tile flooring; Vinyl flooring
• Bathrooms: 4 full bathrooms
• Heating & cooling: Natural gas heating; Window air conditioning units; Has heating and cooling
• Interior features: Ceiling fan(s); Pantry; Bathroom with tub & shower; Lead certification available; Living room; Kitchen; Total of 19 rooms

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $580k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $378/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $580k).
• Recommended offer: $563k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: 18 active listings in the ZIP; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($4k loan paydown + $6k appreciation (1.1% local appreciation)).
• Hampden County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $162k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($563k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y 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.
• Current owner paid $444k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $562,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1923 — 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: 1.20% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.16%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $387,851
• List price: $579,900
• Delta: 49.52%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 Palmer Ave	0.42mi	11/3.0 (-1)	3,856 (-14%)	11mo	$465,000	$121	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.67×
• Total profit: $109,425
• Equity at exit: $200,377

10-year hold

• IRR: 16.7%
• Equity multiple: 3.04×
• Total profit: $331,294
• Equity at exit: $268,156

Cash invested: $162,372 (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 01105

• Home prices YoY: 0.3%
• Active inventory: 18
• Price-to-rent: 27.7×

Monthly cashflow live

• Estimated rent: $6,985 high
• Mortgage (P&I): −$3,041
• Tax est. 1.5%: −$725 /mo · $8,698/yr
• Insurance: −$242
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,467
• Net cashflow: $1,511

Break-even live

Break-even rent $5,073

Max offer price $579,900

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$6,984
Total (4 units)			$6,985

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: $144,975
• Closing costs: $17,397
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $579,900 Active 43 DOM
2. 2026-06-17
   days on market $579,900 Active 42 DOM
3. 2026-06-16
   days on market $579,900 Active 41 DOM
4. 2026-06-15
   days on market $579,900 Active 40 DOM
5. 2026-06-14
   days on market $579,900 Active 38 DOM
6. 2026-06-13
   days on market $579,900 Active 37 DOM
7. 2026-06-10
   days on market $579,900 Active 35 DOM
8. 2026-06-09
   days on market $579,900 Active 34 DOM
9. 2026-06-08
   days on market $579,900 Active 33 DOM
10. 2026-06-07
    days on market $579,900 Active 32 DOM
11. 2026-06-05
    days on market $579,900 Active 29 DOM
12. 2026-06-03
    days on market $579,900 Active 28 DOM
13. 2026-06-02
    days on market $579,900 Active 27 DOM
14. 2026-06-01
    days on market $579,900 Active 26 DOM
15. 2026-05-31
    days on market $579,900 Active 25 DOM
16. 2026-05-30
    days on market $579,900 Active 24 DOM
17. 2026-05-06
    listed $599,999 New 800-char remark
18. 2025-01-08
    status Under Agreement 270-char remark

    Show marketing remark (270 chars)

    Fantastic opportunity to own a 4 Unit building with 11 BR, lots of income potential! Two occupied units with good paying tenants. Two empty units to occupy, update, or rehab as you'd like. All units have separate utilities. Open to various offer and structure types.

19. 2025-01-08
    soldstatus $443,877 Sold 270-char remark

    Show marketing remark (270 chars)

    Fantastic opportunity to own a 4 Unit building with 11 BR, lots of income potential! Two occupied units with good paying tenants. Two empty units to occupy, update, or rehab as you'd like. All units have separate utilities. Open to various offer and structure types.

20. 2024-12-31
    status Back On Market 270-char remark

    Show marketing remark (270 chars)

    Fantastic opportunity to own a 4 Unit building with 11 BR, lots of income potential! Two occupied units with good paying tenants. Two empty units to occupy, update, or rehab as you'd like. All units have separate utilities. Open to various offer and structure types.

21. 2024-10-28
    status Under Agreement 270-char remark

    Show marketing remark (270 chars)

    Fantastic opportunity to own a 4 Unit building with 11 BR, lots of income potential! Two occupied units with good paying tenants. Two empty units to occupy, update, or rehab as you'd like. All units have separate utilities. Open to various offer and structure types.

22. 2024-10-15
    listed $448,000 New 270-char remark

    Show marketing remark (270 chars)

    Fantastic opportunity to own a 4 Unit building with 11 BR, lots of income potential! Two occupied units with good paying tenants. Two empty units to occupy, update, or rehab as you'd like. All units have separate utilities. Open to various offer and structure types.

23. 2021-10-01
    soldstatus $345,300 Sold

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

24. 2021-08-11
    status Under Agreement

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

25. 2021-07-28
    historical Contingent

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

26. 2021-07-17
    price $347,800

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

27. 2021-07-07
    status Back On Market

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

28. 2021-05-26
    status Under Agreement

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

29. 2021-05-12
    historical Contingent

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

30. 2021-04-26
    price $347,900

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

31. 2021-04-16
    status Back On Market

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

32. 2021-04-15
    status Under Agreement

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

33. 2021-04-13
    listed Contingent

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

34. 2020-12-11
    listed $348,000

    Show marketing remark (577 chars)

    Popular location across from Starbucks, 2 blocks from MGM is where the updated 4 unit building sits!.. 3 bedrooms each unit and utilities are separated! Many updates including roof, windows, siding and porches! The apartments are in good condition as well. Updated electric! Long term tenants! This building has been owned by the same family for decades and has been well cared for. Now is your opportunity to make it your own and enjoy the benefits of all the work that has been done. Group Showing Wednesday July 21st @ 4pm. Please register with list agent to attend.

ⓘ 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: $83,820
• − Mortgage interest: −$32,483
• − Property taxes: −$8,698
• − Insurance: −$2,900
• − Repairs & maintenance: −$6,706
• − Management: −$6,706
• − Depreciation: −$16,870
• Taxable income: $9,458
• Est. tax owed @ 24.0%: −$2,270
• After-tax cash flow: $15,857/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 4-unit building requires moderate renovations to improve its condition and appeal. Immediate repairs and maintenance are needed in the kitchen and bathrooms, while exterior and interior updates will significantly enhance its value.

Repairs flagged

• Major kitchen cabinets — Worn and in need of replacement
• Major bathroom fixtures — Cluttered and in need of cleaning
• Moderate exterior siding — Weathered and in need of repainting

Value-add opportunities

• Both Paint and organize interior spaces — Enhances both resale and rental appeal
• Both Replace worn kitchen cabinets — Improves both resale and rental appeal
• Both Paint and organize exterior siding — Enhances both resale and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Worn and in need of replacement	Major	$15,000–50,000
bathroom fixtures · Cluttered and in need of cleaning	Major	$15,000–50,000
exterior siding · Weathered and in need of repainting	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$33,000–115,000

Value-add ROI direction

• Both Paint and organize interior spaces — Enhances both resale and rental appeal ↑
• Both Replace worn kitchen cabinets — Improves both resale and rental appeal ↑
• Both Paint and organize exterior siding — Enhances both resale and rental appeal ↑

ⓘ 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): 11,469

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: Predominantly Hispanic (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 37% Black 14% White 10%
• Hispanic origin (detail): Puerto Rican 63% Dominican 5%
• Common ancestry: Lithuanian 1% Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 44% English-only · Spanish 53% Other Indo-European 2% French/Haitian/Cajun 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: ▲ 1.08%
• Current HPI: 322.6127
• 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

+66.6% since first listed

19 events — show timeline

• 2026-05-25 Price Changed $579,900 MLS PIN
• 2026-05-06 Listed $599,999 MLS PIN
• 2025-01-08 Pending — MLS PIN
• 2025-01-08 Sold (MLS) $443,877 MLS PIN
• 2024-12-31 Relisted — MLS PIN
• 2024-10-28 Pending — MLS PIN
• 2024-10-15 Listed $448,000 MLS PIN
• 2021-10-01 Sold (MLS) $345,300 MLS PIN
• 2021-08-11 Pending — MLS PIN
• 2021-07-28 Contingent — MLS PIN
• 2021-07-17 Price Changed $347,800 MLS PIN
• 2021-07-07 Relisted — MLS PIN
• 2021-05-26 Pending — MLS PIN
• 2021-05-12 Contingent — MLS PIN
• 2021-04-26 Price Changed $347,900 MLS PIN
• 2021-04-16 Relisted — MLS PIN
• 2021-04-15 Pending — MLS PIN
• 2021-04-13 Listed — MLS PIN
• 2020-12-11 Listed $348,000 MLS PIN