Property Description

RARE 10.8% CAP RATE - 16% CASH ON CASH 4-UNIT INVESTMENT IN FOREST PARK. Presenting a premier high-yield asset at 127 Dickinson St, a 4-unit residential portfolio offering immediate double-digit returns. This legal 4-family features four spacious 2-bedroom/1-bath units, providing a robust unit mix for the Springfield market. The building has undergone significant capital improvements, including updated electrical (circuit breakers), plumbing, and newer hot water heaters. Interiors feature refreshed kitchens, updated flooring, and fresh paint in 2 of 4 units. While currently stabilized, an identified 17% rental upside exists by transitioning current rents to market levels. Situated on a prominent corner lot in the Forest Park neighborhood. Features include 4 dedicated off-street parking spaces, private porches for each unit, and a fenced-in yard. Separated utilities (Natural Gas & Electric). This asset delivers on every metric. Full underwriting package available upon request.

Property Details tap to expand

Building Information

  • Total Units: 4
  • Total Floors: 4
  • Total Bedrooms: 7
  • Total Full Baths: 4
  • Amenities: Highway Access, Medical Facility, Park, Public School, Public Transportation, Shopping
  • Basement Features: Full, Unfinished Basement
  • Common Heating: Electric, Extra Flue, Forced Air, Gas, Heat Pump, Space Heater
  • Common Cooling: None

Financial

  • APOD Available: No
  • Expenses Source: Limited Information, Owner Provided, Projected
  • Gross Operating Income: 77400
  • Net Operating Income: 77400

Utilities

  • Heat Zones: 4
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 3 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 4 Description

  • Under Lease: No
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1909
  • Type: 4 Family
  • Construction Type: Aluminum, Frame
  • Foundation Info: Poured Concrete
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73469357
  • Last Updated: 01/27/26

Property History tap to expand

Date Event Price Price/Sq Ft Source
01/27/2026Contingent$459,000$63MLSPIN
01/20/2026Active$459,000$63MLSPIN
01/16/2026New$459,000$63MLSPIN
01/15/2026Temporarily Withdrawn$469,999$64MLSPIN
01/14/2026Active$469,999$64MLSPIN
01/10/2026Price Change$469,999$64MLSPIN
12/11/2025Active$489,000$67MLSPIN
12/07/2025Back on Market$489,000$67MLSPIN
11/30/2025Under Agreement$489,000$67MLSPIN
11/23/2025Active$489,000$67MLSPIN
11/19/2025Back on Market$489,000$67MLSPIN
10/13/2025Temporarily Withdrawn$489,000$67MLSPIN
08/29/2025Active$489,000$67MLSPIN
08/25/2025Price Change$489,000$67MLSPIN
07/20/2025Active$499,999$69MLSPIN
07/16/2025Price Change$499,999$69MLSPIN
07/16/2025Price Change$529,999$73MLSPIN
06/07/2025Active$599,999$82MLSPIN
06/03/2025New$599,999$82MLSPIN
07/31/2024Expired$499,000$68MLSPIN
05/02/2024Temporarily Withdrawn$499,000$68MLSPIN
01/12/2024Active$499,000$68MLSPIN
01/08/2024New$499,000$68MLSPIN

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Seller's Representative: Jacob Wint, William Pitt Sotheby's International Realty
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2026-01-27 17:22:00

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