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 31 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