Multifamily Property with
New
For Sale
$475,000
55 Gaylord Street, Chicopee, MA 01013
Two buildings combine apartment units with a separate workshop and loft featuring a kitchen and full bathroom.
Property Size2,729 SF
Price / SF$174.06
Days on Market6
Property Features for 55 Gaylord Street
General Information
Standard status
Active
Size
2,729 SF
Property subtype
Multi-family
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Building Details
Year Built
1900
Buildings
2
Listing Agency:
John H. Pedro Real Estate
Listed By:
John Pedro Jr. · License #9008631
(413) 531-1328
Source:
Taylorrealtors
Added: Oct 16
Changed: Oct 21
Last Checked: Oct 20 at 9:07PM
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 John H. Pedro Real Estate
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Investment Insights
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This two-building multifamily property includes a main residence with six bedrooms, four bathrooms, and two apartment units. The property has four units in total. A detached carriage house, built in 1996, adds an approximately 18-by-30-foot workshop and an open second-floor loft with a full kitchen and bathroom. The workshop has an overhead door, hot and cold water, a sink, toilet, air compressor, LED lighting, wood-stove heat, and 60-amp 220-volt electrical service. The loft has a mini-split heat pump, a backup wood stove, three skylights, and a south-facing picture window.
The main residence has a dry basement with a concrete floor, an updated four-zone natural gas heating system, and an on-demand natural gas water heater. One area also has heat-pump heating and cooling. Other improvements include 200-amp electrical service and exterior painting. A 5 kW owner-owned, grid-tied solar electric system serves the property. The reported property size is 2,729 square feet.
The main residence has a dry basement with a concrete floor, an updated four-zone natural gas heating system, and an on-demand natural gas water heater. One area also has heat-pump heating and cooling. Other improvements include 200-amp electrical service and exterior painting. A 5 kW owner-owned, grid-tied solar electric system serves the property. The reported property size is 2,729 square feet.
Key Highlights
- Four units across a two‑building property
- Detached carriage house includes an approximately 18' x 30' workshop
- Workshop has a large overhead door, hot and cold water, and 60‑amp 220‑volt electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,125
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$662,500
$662.5K
Cap Rate 7%
$473,214
$473.2K
Cap Rate 9%
$368,056
$368.1K
Market Conditions
NOI Build-Up for 2,729 SF
Gross rent
$63.5K $23.28/SF
− Vacancy
−$3.3K −$1.21/SF
EGI
$60.2K $22.07/SF
− OpEx
−$27.1K −$9.93/SF
NOI
$33.1K $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 Rate 5%
$662,500
Cap Rate 7%
$473,214
Cap Rate 9%
$368,056
Alternative Uses
Best Use
Apartment 5plus
$473.2K
$414.1K – $552.1K
NOI $33,125 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,736 @ 7.0% cap · market cap 24.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
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Business Placement
Demographics for 01013, MA
23,656
Population
10,309
Households
2.3
Avg Household Size
38
Median Age
23%
College-Educated
87%
High-School Grad
5.7 sq mi
ZIP Area
4,150
Density / Sq Mi
$64,039
Median Household Income
$45,268
Median Earnings
$1,005
Median Rent
$249,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two buildings combine apartment units with a separate workshop and loft featuring a kitchen and full bathroom.
Where is this multifamily property located?
The property is located at 55 Gaylord Street Chicopee, MA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Four units across a two‑building property; Detached carriage house includes an approximately 18' x 30' workshop; Workshop has a large overhead door, hot and cold water, and 60‑amp 220‑volt electrical service
