156 Grattan St · Chicopee, MA 01020

$219,900

4 bd · 2.0 ba · 2,111 sqft · MultiFamily public records · 14 Days on market

Built 1880 0.34 ac lot Est $431k · 49% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

WOW! Look at these pictures and...in Chicopee! Well maintained, immaculate 2 family with an open floor plan. Private yard with in-ground pool ready for summer fun. Garage is every man's dream with an office and over-sized 2 bay work area for that fix it guy. Leisure living doesn't come at this price!

Key facts

• Separate utilities
• Off street parking
• Two family property

Tags

• TWO FAMILY PROPERTY
• OVERSIZED DETACHED GARAGE
• SEPARATE UTILITIES
• OFF STREET PARKING
• STRONG INCOME POTENTIAL
• SPACIOUS LAYOUT

Property features AI

Finance

• Other: Buyer responsible for smoke certificate, final water reading, and other required certificates
• HOA & community: Community features include public transportation, shopping, highway access, public schools, and sidewalks; Not a senior community

Exterior

• Parking: 2-car garage; 2 covered spaces; 5 open parking spaces; Total of 7 parking spaces; Off-street, paved parking
• Utilities: Public water; Public sewer; Gas available for range
• Home design: 2-family (up/down) multiunit; 3 total stories; Building area approximately 2,111
• Construction: Frame construction; Stone foundation; Shingle roof; Built (year per public records)
• Exterior features: Fenced yard (enclosed); Porch (enclosed); In-ground pool; Cleared, level lot; Paved, public road frontage on a publicly maintained road

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Total of 10 rooms; Full, unfinished basement with bulkhead

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $657/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $220k).
• Cap rate 13.5% vs local median 4.6% in Chicopee — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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+, schools D, crime 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.
• Market conditions: 20 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 453 units permitted in Hampden County in 2024 (116 in 5+ unit buildings).
• At $3,671/mo this rent would consume 67% of the median local household income ($66k/yr) (locally 1153% 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 $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1880 — 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 $219,900

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. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.67% ✓
• Cap rate: 13.47%
• Cash-on-cash: 25.61%
• DSCR: 2.14
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $430,644
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
59-61 Hawthorn St	0.33mi	4/3.0	2,052 (-3%)	11mo	$440,000	$214	67
45 Hastings St	0.58mi	5/2.0 (+1)	2,134 (+1%)	2mo	$376,000	$176	64
28 Maple St	0.52mi	5/2.0 (+1)	1,944 (-8%)	0mo	$347,000	$178	57
46 Kaveney St	0.69mi	4/2.0	1,816 (-14%)	16mo	$370,000	$204	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 19.3%
• Equity multiple: 1.78×
• Total profit: $48,170
• Equity at exit: $32,788

10-year hold

• IRR: 27.6%
• Equity multiple: 3.44×
• Total profit: $150,123
• Equity at exit: $19,013

Cash invested: $61,572 (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 01020

• Home prices YoY: -34.5%
• Active inventory: 20
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,671 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$341 /mo · $4,092/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$771
• Net cashflow: $1,314

Break-even live

Break-even rent $2,007

Max offer price $219,900

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,672
Total (2 units)			$3,671

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Cochran St Unit 3 Chicopee, MA	3.0	1.0	1500	$2,000	$1.33	43d	1	0.79mi

Listing history 11 events

1. 2026-06-18
   days on market $219,900 Active 14 DOM
2. 2026-06-17
   days on market $219,900 Active 13 DOM
3. 2026-06-16
   days on market $219,900 Active 12 DOM
4. 2026-06-15
   days on market $219,900 Active 11 DOM
5. 2026-06-14
   days on market $219,900 Active 9 DOM
6. 2026-06-13
   days on market $219,900 Active 8 DOM
7. 2026-06-10
   days on market $219,900 Active 6 DOM
8. 2026-06-09
   days on market $219,900 Active 5 DOM
9. 2026-06-08
   statusdays on market $219,900 Active 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $219,900 New 3 DOM

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

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $4,092 · $341/mo
• Projected year-2 tax: $4,092 · $341/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $44,052
• − Mortgage interest: −$12,318
• − Property taxes: −$4,092
• − Insurance: −$1,100
• − Repairs & maintenance: −$3,524
• − Management: −$3,524
• − Depreciation: −$6,397
• Taxable income: $13,097
• Est. tax owed @ 24.0%: −$3,143
• After-tax cash flow: $12,628/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
• County: Hampden County · 230,965 people
• City population: 53,451
• Metro: Springfield, MA
• Population (ZIP): 30,167
• Household income: $66,009
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 1153.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 21% Two or more races 11% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 18% Dominican 2%
• Common ancestry: Romanian 15% Lithuanian 14% Scotch-Irish 2%
• Foreign-born: 9% · Canada
• Languages at home: 80% English-only · Spanish 11% Russian/Polish/Slavic 3% Other Asian/Pacific 2%

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: ▼ -150.25%
• Current HPI: 285.6119
• 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

+12.8% since first listed

4 events — show timeline

• 2026-06-04 Listed $219,900 MLS PIN
• 2009-10-20 Sold (Public Records) $195,000 Public Records
• 2009-10-20 Sold (MLS) $195,000 MLS PIN
• 2009-06-30 Listed $195,000 MLS PIN

Property tax history

+3.3%/yr

Latest (2023): $4,092 · +1.7% YoY. Source: county tax records.