179-183 Walnut St · Holyoke, MA 01040

$699,900

15 bd · 3.6 ba · 6,138 sqft · MultiFamily · 29 Days on market

Built 1900 Fair condition 4,948 sqft lot

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

This renovated bldg is a great oppurtunity for you.Three floors with three end to end large appts. new windows,newer heat and hot water, separate meters. the property has a new garaage,and and large back porches, the appts. are beautiful and yet very practical, everything has been updated., the woodwork the layout, the out side appearance is simply unique. On the investment side one unit rents for 1500 dollars, payback will not take as long as usual. This is a really good situation you should take advantage, you will not anything quite like it.The first floor apt h hurry has its own HVAC and a bath and a half,the good stuff just keeps coming. Better hurry up.

Key facts

• Inviting balcony
• Tiled walk-in shower
• Updated kitchens

Tags

• TILED WALK-IN SHOWER
• INVITING BALCONY
• UPDATED KITCHENS

Property features AI

Finance

• Other: Building area approximately 6,138 total square feet; Lot about 0.11 acre; Multiple units have leases
• Financial info: Tax information present

Exterior

• Parking: Has garage; 1 garage space (covered); Total 1 parking space
• Utilities: Public water; Public sewer
• Home design: 3-family side-by-side property; 3 stories
• Construction: Block foundation; Built (year per public records)
• Exterior features: Fenced/enclosed lot

Interior

• Kitchen: Range; Refrigerator
• Flooring: Wood; Hardwood
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating available; Steam heating available; Natural gas heating available
• Interior features: Walk-in closet(s); Living room; Dining room; Kitchen; Other; Total of 24 rooms

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $700k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $32 ($383/yr) — positive. Per door: $11/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $616k (11.9% below list).
• Recommended offer: $616k (11.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#203 in MA) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing B; Watch: schools F, crime F, amenities F.
• Holyoke (suburban): math 5% / reading 14% proficiency, ranked #302 of 302 in MA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 43 active listings in the ZIP; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).
• At $6,163/mo this rent would consume 138% of the median local household income ($54k/yr) (locally 2404% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Hampden County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($689k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $50k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $311k; list at $700k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $616,300 (11.9% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.20%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.43×
• Total profit: $-111,288
• Equity at exit: $104,357

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-93,912
• Equity at exit: $60,515

Cash invested: $195,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 01040

• Home prices YoY: -33.2%
• Active inventory: 43
• Price-to-rent: 28.4×

Monthly cashflow live

• Estimated rent: $6,163 high
• Mortgage (P&I): −$3,670
• Tax est. 1.5%: −$875 /mo · $10,498/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,294
• Net cashflow: $32

Break-even live

Break-even rent $6,123

Max offer price $699,900

Occupancy floor 94%

Sensitivity live

Price	-10% $516	-5% $274	+0% $32	+5% $-210	+10% $-452
Rent	-10% $-455	-5% $-212	+0% $32	+5% $275	+10% $519
Rate	-1.0pp $384	-0.5pp $210	base $32	+0.5pp $-149	+1.0pp $-334

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,162
Total (3 units)			$6,163

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $174,975
• Closing costs: $20,997
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $699,900 Active 29 DOM
2. 2026-06-17
   days on market $699,900 Active 28 DOM
3. 2026-06-16
   days on market $699,900 Active 27 DOM
4. 2026-06-15
   days on market $699,900 Active 26 DOM
5. 2026-06-14
   statusdays on market $699,900 Active 24 DOM
6. 2026-06-10
   days on market $699,900 Price Changed 21 DOM
7. 2026-06-09
   days on market $699,900 Price Changed 20 DOM
8. 2026-06-09
   pricestatus $699,900 Price Changed 19 DOM
9. 2026-06-08
   days on market $749,900 Active 19 DOM
10. 2026-06-07
    days on market $749,900 Active 18 DOM
11. 2026-06-03
    days on market $749,900 Active 14 DOM
12. 2026-06-02
    days on market $749,900 Active 13 DOM
13. 2026-06-01
    days on market $749,900 Active 12 DOM
14. 2026-05-31
    days on market $749,900 Active 11 DOM
15. 2026-05-30
    days on market $749,900 Active 10 DOM
16. 2026-05-20
    listed $749,900 New
17. 2019-05-15
    soldstatus $311,000 671-char remark

    Show marketing remark (671 chars)

    This renovated bldg is a great oppurtunity for you.Three floors with three end to end large appts. new windows,newer heat and hot water, separate meters. the property has a new garaage,and and large back porches, the appts. are beautiful and yet very practical, everything has been updated., the woodwork the layout, the out side appearance is simply unique. On the investment side one unit rents for 1500 dollars, payback will not take as long as usual. This is a really good situation you should take advantage, you will not anything quite like it.The first floor apt h hurry has its own HVAC and a bath and a half,the good stuff just keeps coming. Better hurry up.

18. 2018-12-20
    listed $325,000 671-char remark

    Show marketing remark (671 chars)

    This renovated bldg is a great oppurtunity for you.Three floors with three end to end large appts. new windows,newer heat and hot water, separate meters. the property has a new garaage,and and large back porches, the appts. are beautiful and yet very practical, everything has been updated., the woodwork the layout, the out side appearance is simply unique. On the investment side one unit rents for 1500 dollars, payback will not take as long as usual. This is a really good situation you should take advantage, you will not anything quite like it.The first floor apt h hurry has its own HVAC and a bath and a half,the good stuff just keeps coming. Better hurry up.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,956
• − Mortgage interest: −$39,205
• − Property taxes: −$10,498
• − Insurance: −$3,500
• − Repairs & maintenance: −$5,916
• − Management: −$5,916
• − Depreciation: −$20,361
• Taxable loss: −$11,441
• Est. tax savings @ 24.0%: +$2,746
• After-tax cash flow: $3,129/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and maintenance, including exterior siding, roof, windows, foundation, and HVAC system. Improvements in these areas will significantly increase its resale and rental value.

Repairs flagged

• Major Exterior siding — The exterior siding is visibly worn and weathered, indicating significant damage.
• Major Roof — The roof has visible signs of wear and potential leaks, which could be a significant issue.
• Major Windows — The windows appear to be in poor condition, with some showing signs of damage and potential leaks.
• Major Foundation/structure — The foundation and structure of the building appear to be in poor condition, with visible cracks and potential structural issues.

Value-add opportunities

• Resale Exterior siding repair and repainting — A fresh coat of paint and repair of the exterior siding will significantly improve the curb appeal and overall condition of the property.
• Resale Roof repair and replacement — A new roof will address potential leaks and improve the overall condition of the property, making it more attractive to potential buyers.
• Resale Window repair and replacement — New windows will improve the energy efficiency and overall condition of the property, making it more attractive to potential buyers.
• Resale Foundation and structure repair — Repairing the foundation and structure will address potential structural issues and improve the overall condition of the property, making it more attractive to potential buyers.
• Resale HVAC system replacement — A new HVAC system will improve the energy efficiency and overall condition of the property, making it more attractive to potential buyers.
• Resale Landscaping and curb appeal improvements — Improving the landscaping and curb appeal will significantly enhance the overall condition of the property, making it more attractive to potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · The exterior siding is visibly worn and weathered, indicating significant damage.	Major	$15,000–50,000
Roof · The roof has visible signs of wear and potential leaks, which could be a significant issue.	Major	$15,000–50,000
Windows · The windows appear to be in poor condition, with some showing signs of damage and potential leaks.	Major	$15,000–50,000
Foundation/structure · The foundation and structure of the building appear to be in poor condition, with visible cracks and potential structural issues.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale Exterior siding repair and repainting — A fresh coat of paint and repair of the exterior siding will significantly improve the curb appeal and overall condition of the property. ↑
• Resale Roof repair and replacement — A new roof will address potential leaks and improve the overall condition of the property, making it more attractive to potential buyers. ↑
• Resale Window repair and replacement — New windows will improve the energy efficiency and overall condition of the property, making it more attractive to potential buyers. ↑
• Resale Foundation and structure repair — Repairing the foundation and structure will address potential structural issues and improve the overall condition of the property, making it more attractive to potential buyers. ↑
• Resale HVAC system replacement — A new HVAC system will improve the energy efficiency and overall condition of the property, making it more attractive to potential buyers. ↑
• Resale Landscaping and curb appeal improvements — Improving the landscaping and curb appeal will significantly enhance the overall condition of the property, making it more attractive to potential buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Holyoke
• NCES district ID: 2506270
• Math proficiency: 5% ▼ -7.00%
• Reading proficiency: 14% ▼ -5.00%
• Median HH income: $35,495
• Composite: 7.79/100
• National rank: #9934
• State rank: #302 of 302 in MA

Livability — Holyoke

• Score: 62/100
• State rank: #203
• US rank: #16308

Category grades

Amenities F Commute A+ Cost of living B- Crime F Employment D- Housing B Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holyoke, MA
• County: Hampden County · 230,965 people
• City population: 37,813
• Metro: Springfield, MA
• Population (ZIP): 37,813
• Household income: $53,605
• Rent vs Own: 58.7% rent · 41.3% own
• Severe rent burden: 2404.0

Population outlook (Hampden County) Hauer SSP2

• Today (2025): 485,646 people
• By 2030: 491,517 · +1.2%
• By 2040: 500,539 · +3.1%
• By 2050: 508,827 · +4.8%
• By 2075: 539,167 · +11.0%
• By 2100: 545,698 · +12.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (52%)
• Race & ethnicity: Hispanic / Latino 52% White 43% Two or more races 23% Black 2%
• Hispanic origin (detail): Puerto Rican 45% Dominican 2%
• Common ancestry: Lithuanian 5% Romanian 4% Slovak 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 58% English-only · Spanish 39% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Hampden

• 2024 margin: Lean D (+8.9) · D 53.4% · R 44.5% · Other 2.1%
• 2008→2024 swing: -16.4pp toward R · 2008: 25.3pp · 2024: 8.9pp
• All cycles: 2024: D+8.9 2020: D+17.7 2016: D+16.0 2012: D+25.4 2008: D+25.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.03%
• Current HPI: 293.93
• Rent YoY: —
• Metro: Springfield, MA
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

+130.7% since first listed

3 events — show timeline

• 2026-05-20 Listed $749,900 MLS PIN
• 2019-05-15 Sold (MLS) $311,000 MLS PIN
• 2018-12-20 Listed $325,000 MLS PIN