38 Virginia Street Springfield — Photo 1 of 42
$324,900
Investment Analysis — 38 Virginia Street
Springfield, MA 01108
Based on HUD Small Area Fair Market Rent for Springfield, MA MSA, a 5-bedroom in 01108 carries an estimated $2,320/mo in gross rent — about a 5.26% cap rate and $17,098/yr in estimated NOI at the $324,900 list price. Adjust every assumption in the calculator below.
Beds
5
Baths
2.5
SqFt
2,036
Style
Single Family
Built
1913
Beautifully updated nine-room Colonial with spacious living. Covered front porch welcomes you to this lovingly restored home with 5 bedrooms, 2.1 bathrooms, and 2,032 sq ft. Main floor features a large foyer, dining room, front living room with a gas-insert fireplace, and brand new carpeting. New kitchen with neutral cabinetry, stone countertop, SS appliances, luxury vinyl floor, and a slider to the backyard. Second floor has four generously sized bedrooms, all with new carpeting and a remodeled full bath. Third floor loft provides exceptional versatility with a separate entrance, full bathroom, new carpeting, and plumbing for a kitchen. Central air, new hot water heater, furnace, 220-amp electrical, new roof in 2024, blown-in insulation, and wiring. Most windows replaced. Two-car oversized, heated garage with two bays, new garage door, and dedicated workshop with 220 amp electrical and plumbed in air compressor. Private fenced-in yard with a storage shed. Great location!
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: 900 sq ft (the lesser of 900 sq ft or half the 2,036 sq ft principal dwelling). Lot size: 5,502 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.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Range • Refrigerator
Neighborhood
Public Transportation • Shopping • Pool • Park • Walk/Jog Trails • Golf
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First16 x 20
Flooring - Wall to Wall Carpet, Window(s) - Picture
Dining Room
Lvl First14 x 18
Flooring - Wall to Wall Carpet, Window(s) - Picture
Kitchen
Lvl First15.5 x 12.5
Flooring - Vinyl, Countertops - Stone/Granite/Solid, Exterior Access
Master Bedroom
Lvl Second10.5 x 12
Flooring - Wall to Wall Carpet
Bedroom 2
Lvl Second12 x 13
Bedroom 3
Lvl Second12 x 15
Flooring - Wall to Wall Carpet
Bedroom 4
Lvl Second10 x 12
Flooring - Wall to Wall Carpet
Bathroom 1
Lvl First7.5 x 4
Bathroom - Half
Bathroom 2
Lvl Second5 x 12
Bathroom - Half
Bathroom 3
Lvl Third8.5 x 8.5
Bathroom - Full
Property History
$324,900
Sep 10, 2026
MLS® 73575305
$324,900
Sep 9, 2026
MLS® 73522108
$324,900
May 20, 2026
MLS® 73522108
Listing Agent: Matthew Banak
Listing Office: Coldwell Banker Realty
MLS® Number: 73575305
