632 S East · Holyoke, MA 01040

$1,100,000

16 bd · 8.0 ba · 5,880 sqft · MultiFamily public records · 78 Days on market

Built 1900 4,330 sqft lot $187/sqft · 96% above area

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Why this score? — see what drove the C 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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

INVESTORS 8-unit property offering a rare opportunity to complete a high-quality asset with significant upside. The building has been reconstructed using durable materials like metal rails inside and out with modern construction standards, providing a solid foundation for long-term ownership. Major capital improvements have already been completed, including new mechanical systems: updated electrical, plumbing, and heating, greatly reducing future maintenance concerns. The heavy brick exterior adds lasting structural integrity and classic appeal.While the property is not yet turnkey, it presents a prime value-add opportunity for investors to bring the project to completion and unlock strong rental income potential. With much of the heavy lifting already done, the remaining work allows flexibility to tailor finishes and maximize returns. Many materials included like flooring, cabinets, tile and more. When complete estimated rentals could bring in ~$13,600 a month!

Key facts

• Heavy brick exterior
• Updated electrical
• 8 unit property

Tags

• 8 UNIT PROPERTY
• HEAVY BRICK EXTERIOR
• NEW MECHANICAL SYSTEMS
• UPDATED ELECTRICAL
• UPDATED PLUMBING
• UPDATED HEATING

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $376/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $1.10M).
• Recommended offer: $1.03M (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 5.3% in Holyoke — 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 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 $12,056/mo this rent would consume 270% 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 $8k of loan paydown is wiped out by about $33k 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 $308k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($1.03M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $45k; list at $1.10M implies a 2344% 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: major flood risk; moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,033,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.10% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• GRM: 7.6

CMA / ARV

• ARV (median comp): $532,077
• List price: $1,100,000
• Delta: 106.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $12,989
• Equity at exit: $164,014

10-year hold

• IRR: 10.7%
• Equity multiple: 1.83×
• Total profit: $256,207
• Equity at exit: $95,108

Cash invested: $308,000 (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 01040

• Home prices YoY: -33.2%
• Active inventory: 43
• Price-to-rent: 60.8×

Monthly cashflow live

• Estimated rent: $12,056 high
• Mortgage (P&I): −$5,769
• Tax from tax record: −$287 /mo · $3,446/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,532
• Net cashflow: $3,010

Break-even live

Break-even rent $8,246

Max offer price $1,100,000

Occupancy floor 70%

Sensitivity live

Price	-10% $3,633	-5% $3,322	+0% $3,010	+5% $2,699	+10% $2,388
Rent	-10% $2,058	-5% $2,534	+0% $3,010	+5% $3,486	+10% $3,963
Rate	-1.0pp $3,564	-0.5pp $3,290	base $3,010	+0.5pp $2,725	+1.0pp $2,435

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

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$12,056
Total (8 units)			$12,056

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $1,100,000 Active 78 DOM
2. 2026-06-17
   days on market $1,100,000 Active 77 DOM
3. 2026-06-16
   days on market $1,100,000 Active 76 DOM
4. 2026-06-15
   days on market $1,100,000 Active 75 DOM
5. 2026-06-14
   days on market $1,100,000 Active 73 DOM
6. 2026-06-10
   days on market $1,100,000 Active 70 DOM
7. 2026-06-09
   days on market $1,100,000 Active 69 DOM
8. 2026-06-08
   days on market $1,100,000 Active 68 DOM
9. 2026-06-07
   days on market $1,100,000 Active 67 DOM
10. 2026-06-03
    days on market $1,100,000 Active 63 DOM
11. 2026-06-02
    days on market $1,100,000 Active 62 DOM
12. 2026-06-01
    days on market $1,100,000 Active 61 DOM
13. 2026-05-31
    days on market $1,100,000 Active 60 DOM
14. 2026-05-30
    days on market $1,100,000 Active 59 DOM
15. 2026-04-01
    listed $1,100,000 New 976-char remark

    Show marketing remark (976 chars)

    INVESTORS 8-unit property offering a rare opportunity to complete a high-quality asset with significant upside. The building has been reconstructed using durable materials like metal rails inside and out with modern construction standards, providing a solid foundation for long-term ownership. Major capital improvements have already been completed, including new mechanical systems: updated electrical, plumbing, and heating, greatly reducing future maintenance concerns. The heavy brick exterior adds lasting structural integrity and classic appeal.While the property is not yet turnkey, it presents a prime value-add opportunity for investors to bring the project to completion and unlock strong rental income potential. With much of the heavy lifting already done, the remaining work allows flexibility to tailor finishes and maximize returns. Many materials included like flooring, cabinets, tile and more. When complete estimated rentals could bring in ~$13,600 a month!

16. 2008-04-01
    soldstatus $45,000 172-char remark

    Show marketing remark (172 chars)

    Contractors Special!!! Brick 8 Unit building with 2 bedrooms in each apartment. Property is being sold in "as is" condition. Property needs extensive renovations.

17. 2008-04-01
    soldstatus $45,000

    Show marketing remark (172 chars)

    Contractors Special!!! Brick 8 Unit building with 2 bedrooms in each apartment. Property is being sold in "as is" condition. Property needs extensive renovations.

18. 2006-11-22
    listed $60,000 172-char remark

    Show marketing remark (172 chars)

    Contractors Special!!! Brick 8 Unit building with 2 bedrooms in each apartment. Property is being sold in "as is" condition. Property needs extensive renovations.

ⓘ 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: $3,446 · $287/mo
• Projected year-2 tax: $8,488 · $707/mo
• Expected delta: +$5,042/yr (+$420/mo · 146.3%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 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: $144,672
• − Mortgage interest: −$61,617
• − Property taxes: −$3,446
• − Insurance: −$5,500
• − Repairs & maintenance: −$11,574
• − Management: −$11,574
• − Depreciation: −$32,000
• Taxable income: $18,961
• Est. tax owed @ 24.0%: −$4,551
• After-tax cash flow: $31,572/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: 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

+1733.3% since first listed

4 events — show timeline

• 2026-04-01 Listed $1,100,000 MLS PIN
• 2008-04-01 Sold (Public Records) $45,000 Public Records
• 2008-04-01 Sold (MLS) $45,000 MLS PIN
• 2006-11-22 Listed $60,000 MLS PIN

Property tax history

+8.8%/yr

Latest (2023): $3,446 · -0.4% YoY. Source: county tax records.