103 Prospect Street

103 Prospect Street, Springfield, MA 01107 is an operating men’s recovery residence located in Springfield, Massachusetts. The property is a former single-family residence currently used as recovery housing and is offered for sale at $400,000.

The building contains approximately 3,540 square feet with 8 bedrooms, 3 bathrooms, and an operating capacity of 18 beds. The home has a six-year operating history as a recovery residence and is currently in active use, offering a buyer the benefit of an existing use and established operating foundation rather than a ground-up conversion.

The property is described as being in fair overall condition. It remains stable and serviceable in its current state, though several deferred improvements and capital items should be addressed to support long-term performance, compliance, and resident experience.

The proposed business plan includes a limited renovation and stabilization scope rather than a full redevelopment. Estimated renovation and carrying costs are $50,000, bringing the total projected project cost to $450,000. Once improvements are complete, the memorandum projects a stabilized value of $1,040,000, based on the property’s income-producing use as a recovery residence.

Key property details include:

• Address: 103 Prospect Street, Springfield, MA 01107
• Asking Price: $400,000
• Property Type: Former single-family residence used as a recovery home
• Building Size: 3,540 sq. ft.
• Bedrooms: 8
• Bathrooms: 3
• Beds: 18
• Current Use: Operating men’s recovery residence
• Certification: MASH Certified
• Estimated Renovation & Carrying Costs: $50,000
• Projected Total Project Cost: $450,000
• Projected Stabilized Value: $1,040,000

This property may be well suited for a recovery housing operator, mission-oriented investor, or real estate buyer seeking an existing congregate housing asset with demonstrated use, current operations, and renovation-based value creation potential.