This downtown Springfield investment property offers a $5,500 monthly rent roll. The property consists of a joisted masonry building containing one 3BR apartment, one 5BR apartment, and eight garage bays that lease at a monthly rate of $150 - $250. Apartments feature a sunroom, and the 5BR apartment also has an office. The apartments are bright with renovated kitchens and a combination of hardwood and laminate flooring. The projected NOI is $55,359 and the cap rate is 13.54%. Located nearby to the Springfield FD Headquarters, the property offers access to major highways I-91, I-291 & I-90 (the Mass Pike); as well as area hospitals (under two miles to Baystate Medical Center and approximately one mile to Mercy Medical Center). The property is situated close to Springfield’s CBD, nearby to MGM Springfield and the Basketball Hall of Fame, within a 30 minute drive time of UMass Amherst and the Five College Area.
69 Winter St, Springfield, MA, 01105
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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