Investment Analysis — 215 Eddy St

Springfield, MA 01104

Based on HUD Small Area Fair Market Rent for Springfield, MA MSA, a 2-bedroom in 01104 carries an estimated $1,820/mo in gross rent — about a 5.59% cap rate and $13,930/yr in estimated NOI at the $249,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

696

Style

Single Family

Built

1927

Welcome to 215 Eddy Street, a bright and inviting 2 bedroom, 1 bathroom ranch offering nearly 700 sq. ft. of thoughtfully updated, easy single-level living. A comfortable floor plan creates a natural flow from room to room, while a series of recent improvements add to the ease of ownership. Updates since 2022 include new luxury vinyl plank (LVP) flooring installed throughout, freshly painted interior, new hot water tank, new refrigerator and range in the kitchen, plus added insulation for energy efficiency and lower bills. Not only that, this property has a Letter of Full Initial Lead Inspection Compliance. The spacious living/dining room and second bedroom have exterior access for flexibility. Outside, the yard is fully fenced and provides space to relax, gather and entertain and a shed offers convenient additional storage. Ideally located close to area colleges and universities, transportation, many businesses and everyday amenities. Springfield is an excellent location less than 2 hours from Boston and less than 3 hours to NYC. The property is currently leased through July 31, 2027. Whether you are thinking about future homeownership or adding to your investment portfolio, this gem is the one!

ADU Potential

Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 348 sq ft (the lesser of 900 sq ft or half the 696 sq ft principal dwelling). Lot size: 4,791 sq ft.

Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.