
764 Allen St Springfield — Photo 1 of 38
$315,000
Investment Analysis — 764 Allen St
Springfield, MA 01118 — East Forest Park
Based on HUD Small Area Fair Market Rent for Springfield, MA MSA, a 3-bedroom in 01118 carries an estimated $2,380/mo in gross rent — about a 5.69% cap rate and $17,916/yr in estimated NOI at the $315,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2
SqFt
1,420
Style
Single Family
Built
1932
Welcome to this beautifully maintained home in the desirable East Forest Park neighborhood, lovingly owned and meticulously cared for by the same family for nearly 30 years. The pride of ownership is evident throughout, with a spacious and versatile layout, thoughtful updates, abundant storage, and multiple spaces to enjoy both inside and out. At the heart of the home is the spacious living room—a warm and welcoming gathering space that has been enjoyed for decades and offers plenty of room to relax, entertain, and make new memories. From there, the first floor flows into a large eat-in kitchen with plenty of room to gather around the table, along with a separate dining room offering even more space for meals and entertaining. A generously sized first-floor bedroom provides wonderful flexibility, while the full bathroom features both a separate tub and stand-up shower. An enclosed front porch adds charm and additional usable space, while the enclosed three-season patio provides another inviting spot to unwind and enjoy views of the fenced-in backyard. Upstairs, you’ll find two additional spacious bedrooms, each with its own walk-in closet—an impressive feature that provides an abundance of storage. A second full bathroom with a walk-in shower completes the upper level. The living space continues into the finished basement, providing even more room to spread out along with an additional finished room that could serve as a home office, hobby room, workout space, or whatever best suits your needs. Outside, the fenced-in yard offers space to enjoy the outdoors, while the one-car garage provides additional storage for tools, outdoor equipment, and more. Important improvements have already been made, including a new gas furnace installed in 2025 and updated electrical. With three generously sized bedrooms, two full bathrooms, a finished basement, walk-in closets, multiple enclosed porch and patio spaces, a fenced yard, garage, and flexible living space across all three levels, there is so much to appreciate here. After nearly three decades of careful ownership, this special East Forest Park home is ready to welcome its next owner and begin a brand-new chapter.
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: 710 sq ft (the lesser of 900 sq ft or half the 1,420 sq ft principal dwelling). Lot size: 8,851 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.
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Listing Agent: Bethany York Rudzik
Listing Office: Real Broker MA, LLC
MLS® Number: 73575257
