Investor opportunity in Indian Orchard! This occupied two-family generates $4,100 per month in current rent, or $49,200 annually. The property offers a four-bedroom unit and a two-bedroom unit, giving buyers an established income stream from day one. Tenants pay for heat and electricity; the owner pays for water. A massive walkout basement provides generous storage and potential for future value-add improvements, subject to buyer due diligence and approvals. Convenient to neighborhood shops, restaurants, public transportation, the Indian Orchard Branch Library, Cottage Hill Park and Myrtle Street Park, with access to Route 20, I-291 and the Mass Pike. Add an income-producing property with room to explore further potential to your portfolio!
Multi-familyProperty Type
1913Year Built
8,398 sq ftLot Size
$173Price/Sq.Ft.
4 spacesParking
Listed by The Colondres Group• Lock and Key Realty Inc.
Make a winning offer with the help of a local agent
Around this home
Schools
K - 12
Preschool & daycare
Indian Orchard Elementary School
Public PreK-5 • Assigned • 0.5mi
5/10
John F Kennedy Middle School
Public 6-8 • Assigned • 0.4mi
4/10
Springfield Public Day High School
Public 9-12 • Assigned • 0.2mi
1/10
Provided by GreatSchools
About Indian
Orchard
Indian Orchard, located between Chicopee and Wilbraham, is a historic and riverside Springfield neighborhood with mill-era brick blocks and a walkable main street. The neighborhood’s character concentrates around Main Street at Oak Street, where corner storefronts, bakeries, and longtime service shops line the sidewalks. Community pillars include the Indian Orchard Mills, the Indian Orchard Farmers Market, and the Indian Orchard Community Center. Red-brick factory buildings and compact triple-deckers shape the streetscape, with the Chicopee River defining the edge. Parks and river views set a steady outdoor rhythm, while small-scale retail keeps daily errands close. A strong sense of place comes through in the mill architecture and the working-town layout.
Provided by Walk Score and Local Logic
Offer insights
74 Oak St · $430,000
$448K and above
75% chance or better to win
Why $448K+ is a strong offer
DAYS ON MARKET
1 days
The average home goes pending in 24 days.
SALE-TO-LIST
99.6%
Most homes are selling 0% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Bathrooms
2 full bathrooms
Kitchen
Range, refrigerator
Laundry & utility
Laundry room
Heating & cooling
Baseboard heating
Natural gas heating
Exterior features
Easements
Home design
Two-family property with two units, one above the other
Two stories
Parking
Four open parking spaces
Paved driveway
Construction
Block foundation
Utilities
Public water
Public sewer
HOA & community
Near shopping, parks, walking and jogging trails, a laundromat, a bike path, a conservation area, highway access, and a public school
Electricity and solar
View estimated energy costs and solar savings for this home