22 Fredette St #22 · Chicopee, MA 01022

$225,000

2 bd · 1.0 ba · 854 sqft · Condo · 11 Days on market

Built 1952 $319/mo HOA · 15% of rent

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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 +9.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Nice 2 bedroom garden condo - spacious livingroom with dining area - newer laminated flooring - fully applianced kitchen with breakfast bar looking over private patio area - lots of closets - 1 car garage with additional storage area just a few steps away from back door - convenient location

Key facts

• Garden style condo
• Private patio
• Breakfast bar

Tags

• GARDEN STYLE CONDO
• BREAKFAST BAR
• IN UNIT WASHER AND DRYER
• DETACHED GARAGE
• PRIVATE PATIO
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• HOA & community: Association fee of $319; HOA covers water, sewer, insurance, building maintenance, road maintenance, grounds maintenance, and snow removal; Community amenities include a pool; Pets allowed with restrictions; Community features: public transportation, shopping, pool, park, public school; Not a senior community

Exterior

• Parking: Detached parking (off-street); 1 garage space; 1 covered space; 1 open parking space; 2 total parking spaces
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Condominium; Garden-style building; Single-story; Entry level: 22
• Construction: Shingle roof; Year built per public records
• Exterior features: Patio

Interior

• Kitchen: Range; Disposal; Microwave; Refrigerator
• Bedrooms: Master bedroom on the first floor; Second bedroom on the first floor
• Flooring: Tile; Carpet; Laminate
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Window and wall air conditioning units
• Interior features: Total of 4 rooms; No basement
• Laundry & utility: Washer; Dryer; Laundry on the first floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (11.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (4.4% below list).
• Recommended offer: $200k (11.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 76/100 on livability (#66 in MA, #3,658 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Chicopee (suburban): math 20% / reading 33% proficiency, ranked #270 of 302 in MA (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bowie (math 27% / reading 42%, grade F, #577 of 938 statewide, top 65%, 275 students, 0% FRL); Bellamy Middle (math 14% / reading 25%, grade F, #258 of 305 statewide, top 86%, 776 students, 0% FRL); Chicopee Comprehensive High School (math 37% / reading 51%, grade F, #207 of 343 statewide, top 61%, 1,206 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($2k loan paydown + $4k appreciation (1.8% local appreciation)).
• Hampden County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $111k; list at $225k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,616 (11.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-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: 0.96% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.34%
• DSCR: 0.85
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.04×
• Total profit: $2,436
• Equity at exit: $86,569

10-year hold

• IRR: 5.0%
• Equity multiple: 1.68×
• Total profit: $42,606
• Equity at exit: $123,011

Cash invested: $63,000 (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 01022

• Home prices YoY: 0.6%
• Active inventory: 3
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,150 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$319
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $-175

Break-even live

Break-even rent $2,372

Max offer price $199,616

Occupancy floor —

Sensitivity live

Price	-10% $-20	-5% $-98	+0% $-175	+5% $-253	+10% $-331
Rent	-10% $-345	-5% $-260	+0% $-175	+5% $-90	+10% $-6
Rate	-1.0pp $-62	-0.5pp $-118	base $-175	+0.5pp $-234	+1.0pp $-293

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
82 Mitchell Dr #82 Chicopee, MA	2.0	1.5	989	$2,150	$2.17	23d	1	0.21mi
82 Mitchell Dr #82 Chicopee, MA	2.0	1.5	989	$2,150	$2.17	16d	1	0.21mi

HOA detail condo

• Monthly dues: $319 · $3,828/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-23
   days on market $225,000 Active 11 DOM
2. 2026-06-21
   days on market $225,000 Active 10 DOM
3. 2026-06-18
   days on market $225,000 Active 7 DOM
4. 2026-06-17
   days on market $225,000 Active 6 DOM
5. 2026-06-16
   days on market $225,000 Active 5 DOM
6. 2026-06-15
   statusdays on market $225,000 Active 4 DOM
7. 2026-06-14
   days on market $225,000 New 2 DOM
8. 2026-06-13
   remarks 699-char remark
9. 2026-06-13
   listed $225,000 New 1 DOM

ⓘ 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 5/10 Major 7 d/yr ≥97°F today · 17 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: $25,800
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,064
• − Management: −$2,064
• − HOA: −$3,828
• − Depreciation: −$6,545
• Taxable loss: −$5,805
• Est. tax savings @ 24.0%: +$1,393
• After-tax cash flow: $-712/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.

Schools (NCES district)

• District: Chicopee
• NCES district ID: 2503660
• Math proficiency: 20% ▼ -22.00%
• Reading proficiency: 33% ▼ -10.00%
• Median HH income: $46,414
• Composite: 22.91/100
• National rank: #7997
• State rank: #270 of 302 in MA

Livability — Chicopee

• Score: 76/100
• State rank: #66
• US rank: #3658

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chicopee, MA
• City population: 53,451
• Population (ZIP): 2,045

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: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 9% Black 9% Two or more races 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Romanian 7% Lithuanian 6% Slovak 3%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 7% French/Haitian/Cajun 5% Russian/Polish/Slavic 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: ▲ 1.82%
• Current HPI: 296.4975
• Rent YoY: —
• Metro: —
• 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

+97.4% since first listed

3 events — show timeline

• 2026-06-11 Listed $225,000 MLS PIN
• 2016-05-31 Sold (MLS) $111,000 MLS PIN
• 2016-01-20 Listed $114,000 MLS PIN