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$154,900

For Sale - Active
59 Piedmont St, Springfield, MA 01104
2 Beds
1 Bath
1,142 Square Feet
0.17 Acres Lot
Built in 1952
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: Jun 11, 2025 at 03:17AM

Investment Summary


Monthly Cash Flow
$605
Cap Rate
11.0%
Cash-on-Cash Return
20.4%
Debt Coverage Ratio
1.75
Internal Rate of Return (5 years)
23.9%

Property Description


0.17 Acres Lot
Built in 1952
For Sale - Active
Units n/a

Small home in need of rehab and updating but being offered at a great price, below assessed value. Perfect for a handyman, flipper, rehabber or do it yourself person to build some sweat equity. Delayed showings until Thursday, June 12th from 12:00 PM to 1:00 PM, THIS WILL BE THE ONE AND ONLY TIME TO VIEW THE PROPERTY. NO EXCEPTIONS. Property being sold as-is, where is, and as seen on day of open house. Some contents that are on the property may remain and will be the responsibility of the buyer. Many of the items outside may remain and will be the responsibility of the buyer to dispose of. The sale of this property being listed is contingent upon the proposed Seller (or "Owner") completing his/her/its purchase of this property. "Seller" currently has this property under contract for purchase.

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Location


Property Details


Parking

  • Garage Spaces: 0
  • Spaces Total: 7

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 4
  • # of Stories: 1
  • Attic: Yes
  • Basement: Yes
  • Basement Description: Concrete, Unfinished

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Foundation: Block
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: SPRIS:09700P:0025
  • Lot Size: 7501 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1952

Tax Information

  • Annual Tax: $3,729

Utilities

  • Water & Sewer: Public
  • Heating: Oil
  • Cooling: None

Location

  • County: Hampden

Investment Summary


Monthly Cash Flow
$605
Cap Rate
11.0%
Cash-on-Cash Return
20.4%
Debt Coverage Ratio
1.75
Internal Rate of Return (5 years)
23.9%

Purchase Details

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Purchase price:
$154,900
Amount financed:
-$123,920
Down payment:
$30,980
Closing costs:
$4,647
Rehab costs:
$0
Initial cash invested:
$35,627
Square feet:
1,142
Cost per square foot:
$136
Monthly rent per square foot:
$2.19

Financing Details

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Loan amount:
$123,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$809
Property tax:
$311
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,295

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (12%)
12%-$311-$3,729
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (37%)
37%-$936-$11,229

Cash Flow


Monthly Yearly
Net operating income:
$1,414 $16,968
Mortgage payments:
-$809 -$9,708
Cash flow:
$605 $7,260