Overview Property Details Payment Calculator Walkability

Pending

38 Palmer Avenue, Springfield MA 01108

$449,999

Estimated $1,171.67/month Calculator

Multi Family

Total Units: 3

Price Per Unit: $149,999.67

Total Rent: 55200/year

Estimated CAP Rate: 9.95%

11 Bedrooms

3 Full Baths

3,856 SqFt

Total Parking: 4

6,969 SqFt

Owner/occupant with 20% down could live rent free in this income producing property as rent from 2 apartments would cover mortgage payments. Investors take notice this 3 family home has been completely renovated and is Lead Compliant! You do not want to miss the income pote...

This home has been viewed 27 times

Last Checked: May 17th, 2025 at 10:58am (Source: MLS PIN #73364870)

Gross Income: $55,200

Gross Expenses: $10,445

Net Income Calc: $44,755

CAP Rate: 9.95%

Annual Expenses for 38 Palmer Avenue, Springfield MA 01108

Total Gross Expenses (Calculated)$10,445/year

APOD AvailableNo

Heating

Electricity

Water$1,966

Gas$1,966

Insurance$1,434

Sewer$1,966

Trash Removal$270

Repair & Maintenance$442

Management

Miscellaneous$1,029

Real Estate Tax$5,304

Annual Income & Unit Breakdown for 38 Palmer Avenue, Springfield MA 01108

Total Gross Income (Calculated)$55,200

Unit 1

Rental Income$1,850

LeaseN

Bedrooms4

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent Includes

Unit 2

Rental Income$1,750

LeaseN

Bedrooms4

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent Includes

Unit 3

Rental Income$1,000

LeaseY

Bedrooms3

Bathrooms1 Full

Floor3

Levels in Unit1

HeatingYes

Rent Includes

General Information for 38 Palmer Avenue, Springfield MA 01108

Listing ID73364870

Property TypeMulti Family / 3 Family

Price$449,999 ($116.7/SqFt)

Style3 Family - 3 Units Up/down

CitySpringfield

CountyHampden

MLS Area

Neighborhood(s)

Approximate Living Area Total3,856 SqFt

Approximate Lot Size (Acres)0.16 acres

Total Parking4

Garage Parking

Year Built1895

Year Built SourcePublic Records

Year Renovated

Year Built DetailsActual

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction MaterialsFrame, Stone

Lot FeaturesLevel

Foundation Area

Foundation DescriptionConcrete Perimeter

Accessible Features

Outdoor SpaceEnclosed

ZoningR2

Zoning Details

Water ViewsNo

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 38 Palmer Avenue, Springfield MA 01108

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data Source

Total Gross Expenses By Broker$10,445

Total Gross Income By Broker$55,200

Total Net Income By Broker$44,754

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2.5%

Facilitator Compensation

Sub-Agent Compensation

Compensation Based OnCompensation Offered But Not In Mls

Financial Information for 38 Palmer Avenue, Springfield MA 01108

Real Estate Taxes$5,304

Tax Year2024

Assessed Value$289,600

Financial Data Source

Total Gross Expenses By Broker$10,445

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$55,200

BostonRealEstate.com Gross Income

Total Net Income By Broker$44,754

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)9.95%

Location Information for 38 Palmer Avenue, Springfield MA 01108

Elementary SchoolPboe

Middle SchoolPboe

High SchoolPboe

Neighborhood(s)

MLS Area

Area AmenitiesPublic School, Sidewalks

Contact Information for 38 Palmer Avenue, Springfield MA 01108

Agent

Name: Michelle Lorenzetti

MLS ID: CN259425

Office ID: AN8894

National Association ID: 241003078

Address: 100 Queen Street

City: Southington

State: CT

Zip: 06489

Office

Name: Michelle Lorenzetti

MLS Office ID: AN8894

Phone: 860-335-0681

Team Members

Payment Calculator

$3,214.75 per month

30 Years Fixed, 6.75% Interest

Property Taxes $442.00

Principal & Interest $2,772.75

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Michelle Lorenzetti

Agent Phone

Office Phone

(860) 335-0681

Text Agent Call Agent Call Office

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EXIT

Pending

38 Palmer Avenue, Springfield MA 01108

$449,999

Annual Expenses for 38 Palmer Avenue, Springfield MA 01108

Annual Income & Unit Breakdown for 38 Palmer Avenue, Springfield MA 01108

General Information for 38 Palmer Avenue, Springfield MA 01108

Disclosures for 38 Palmer Avenue, Springfield MA 01108

Financial Information for 38 Palmer Avenue, Springfield MA 01108

Location Information for 38 Palmer Avenue, Springfield MA 01108

Contact Information for 38 Palmer Avenue, Springfield MA 01108

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Michelle Lorenzetti

Michelle Lorenzetti