Three-Unit Property with Detached
For Sale
$489,900
Pending
583 McKinstry Avenue, Chicopee, MA 01020
Three-story multifamily property with six bedrooms, three full bathrooms, and a covered porch.
Property Size2,851 SF
Lot Size0.21 Acres
Days on Market277
Property Features for 583 McKinstry Avenue
General Information
Standard status
Pending
Size
2,851 SF
Total Parking Spaces
4
Lot size
0.21 Acres
Property subtype
Multi-family / 3 Family
Net Operating Income
$29,640
Taxes and HOA fees
Annual Taxes
$5,197
Amenities
No
3.0
Full, Interior Access, Concrete Floor
3
3.00
Frame
Shingle
Porch
Building Details
Year Built
1900
Stories
3
Listing Agency:
John H. Pedro Real Estate
(413) 547-8781
Listed By:
John Pedro Jr. · License #9008631
(413) 547-8781
Source:
Compass
Added: Nov 26, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:23PM
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
Investment Insights
Based on property information with market context.
This three-unit multifamily property at 583 McKinstry Avenue offers 2,851 square feet across three stories. The layout includes six bedrooms and three full bathrooms, with frame construction, shingle siding, and a porch. Built in 1900, the property also includes a detached garage with one parking space and additional storage area.
The 9,008-square-foot lot provides outdoor space associated with the residence. Interior features include concrete flooring and interior garage access. Located in Chicopee, Massachusetts, the property presents a substantial residential configuration with multiple bedrooms, bathrooms, and separate living potential across its three-story layout.
The 9,008-square-foot lot provides outdoor space associated with the residence. Interior features include concrete flooring and interior garage access. Located in Chicopee, Massachusetts, the property presents a substantial residential configuration with multiple bedrooms, bathrooms, and separate living potential across its three-story layout.
Key Highlights
- 2,851 SF multifamily property arranged across three stories
- Three‑unit configuration with six bedrooms and three full bathrooms
- Detached garage with one parking space and additional storage
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
$37,342
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
7.62%
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%
$746,840
$746.8K
Cap Rate 7%
$533,457
$533.5K
Cap Rate 9%
$414,911
$414.9K
Market Conditions
NOI Build-Up for 2,851 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
$56.4K $19.80/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$53.3K $18.71/SF
− OpEx
−$16.0K −$5.61/SF
NOI
$37.3K $13.10/SF
Area
Hampden County, MA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$746,840
Cap Rate 7%
$533,457
Cap Rate 9%
$414,911
Alternative Uses
Best Use
Multifamily LT 5
$533.5K
$466.8K – $622.4K
NOI $37,342 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$494.4K
$432.6K – $576.8K
NOI $34,606 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $122,999 @ 7.0% cap · market cap 25.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
235
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-story multifamily property with six bedrooms, three full bathrooms, and a covered porch.
Where is this triplex located?
The property is located at 583 McKinstry Avenue Chicopee, MA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 2,851 SF multifamily property arranged across three stories; Three‑unit configuration with six bedrooms and three full bathrooms; Detached garage with one parking space and additional storage
