Renovated Two-Family
221 East Street Chicopee, MA 01020
221 East Street, Chicopee, MA, 01020
$439,900
For Sale
$439,900
Renovated two-family residence with an updated first-floor unit and an income-producing second-floor apartment.
Property Size2,209 SF
Lot Size0.60 Acres
Price / SF$199.14
Days on Market113
Property Features for 221 East Street
General Information
- Standard status
- Active
- Size
- 2,209 SF
- Lot size
- 0.60 Acres
- Property subtype
- Multi-family / 2 Family
Building Details
- Year Built
- 1880
Listing Agency
Coldwell Banker Realty - Western MA
(413) 567-8931
Listed by
The Generation Group · License #BK3153120
(413) 567-8931
Source
Compass
Added: Mar 31 Updated: Jul 20 at 5:27 pm Checked: Jul 20 at 5:27 pm
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 Coldwell Banker Realty - Western MA
Investment Insights
Based on property information with market context.
This beautifully renovated two-family home offers two separate living units on a single property. The first-floor unit is vacant and features hardwood flooring, in-unit laundry, a spacious living room, an updated kitchen, and well-sized bedrooms. The second-floor unit is currently occupied and generating rental income.
Set on approximately 0.6 acres, the property includes plenty of off-street parking and a large shed for additional storage. The backyard provides outdoor space that may support a range of uses, with the buyer to verify intended use. Conveniently located near shopping, dining, parks, and highway access.
Set on approximately 0.6 acres, the property includes plenty of off-street parking and a large shed for additional storage. The backyard provides outdoor space that may support a range of uses, with the buyer to verify intended use. Conveniently located near shopping, dining, parks, and highway access.
Key Highlights
- Renovated two‑family home with a remodeled interior and updated kitchens
- First‑floor unit: vacant unit with hardwood flooring, in‑unit laundry, and updated kitchen
- Second‑floor unit: currently occupied and generating rental income
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.7k | $19.80 |
| − Vacancy | −$2.4k | −$1.09 |
| EGI | $41.3k | $18.71 |
| − OpEx | −$12.4k | −$5.61 |
| NOI | $28.9k | $13.10 |
2,209 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$413.3K
$361.7K – $482.2K
NOI $28,933 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$383.0K
$335.2K – $446.9K
NOI $26,813 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,302 @ 7.0% cap · market cap 21.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated two-family residence with an updated first-floor unit and an income-producing second-floor apartment.
Where is this duplex located?
The property is located at 221 East Street Chicopee, MA.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Renovated two‑family home with a remodeled interior and updated kitchens; First‑floor unit: vacant unit with hardwood flooring, in‑unit laundry, and updated kitchen; Second‑floor unit: currently occupied and generating rental income
