Two-Story Multifamily
For Sale
$375,000
103 Sheridan St, Chicopee, MA 01020
Colonial-style residence with four bedrooms, two full bathrooms, and a substantial outdoor lot.
Property Size1,804 SF
Lot Size0.34 Acres
Price / SF$207.87
Days on Market8
Property Features for 103 Sheridan St
General Information
Standard status
Active
Size
1,804 SF
Lot size
0.34 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,442
Building Details
Building Size
1,804 SF
Year Built
1830
Stories
2
Units
2
Construction
colonial
Listing Agency:
ERA M Connie Laplante Real Estate
(413) 330-3746
Listed By:
Erin Houle
(413) 330-3746
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 19 at 12:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA M Connie Laplante Real Estate
Investment Insights
Based on property information with market context.
Located at 103 Sheridan St in Chicopee, Massachusetts, this colonial-style multifamily residence was constructed in 1830 and contains 1,804 square feet of living space. The two-story layout includes four bedrooms and two full bathrooms, with the property presented in well-maintained, move-in-ready condition.
The residence occupies a 14,960-square-foot lot, providing a sizable exterior setting alongside the home. Mobility scores indicate a walk score of 22, a bike score of 36, and a transit score of 28, reflecting a car-dependent setting with some transit access.
The residence occupies a 14,960-square-foot lot, providing a sizable exterior setting alongside the home. Mobility scores indicate a walk score of 22, a bike score of 36, and a transit score of 28, reflecting a car-dependent setting with some transit access.
Key Highlights
- 1,804 square feet of living space
- Four bedrooms and two full bathrooms
- Two‑story colonial‑style residence
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,897
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$437,940
$437.9K
Cap Rate 7%
$312,814
$312.8K
Cap Rate 9%
$243,300
$243.3K
Market Conditions
NOI Build-Up for 1,804 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.0K $23.28/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$39.8K $22.07/SF
− OpEx
−$17.9K −$9.93/SF
NOI
$21.9K $12.14/SF
Area
Hampden County, MA
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$437,940
Cap Rate 7%
$312,814
Cap Rate 9%
$243,300
Alternative Uses
Best Use
Apartment 5plus
$312.8K
$273.7K – $365.0K
NOI $21,897 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$972.9K – $1.30M
NOI $77,829 @ 7.0% cap · market cap 20.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
Explore this area
Business Placement
Demographics for 01020, MA
29,781
Population
14,154
Households
2.1
Avg Household Size
44
Median Age
23%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
2,382
Density / Sq Mi
$70,971
Median Household Income
$45,378
Median Earnings
$1,153
Median Rent
$259,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Colonial-style residence with four bedrooms, two full bathrooms, and a substantial outdoor lot.
Where is this multifamily property located?
The property is located at 103 Sheridan St Chicopee, MA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,804 square feet of living space; Four bedrooms and two full bathrooms; Two‑story colonial‑style residence
