20 School St · Holyoke, MA 01040

$340,000

9 bd · 3.0 ba · 3,830 sqft · MultiFamily public records · 37 Days on market

Built 1900 Est $456k · 25% 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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Opportunity knocks for owner occupied or an investment property. Looking for room, this property is the one you have been waiting for. Unit one features 3 bedrooms one bath. Unit 2, offers 6 BEDROOMS and 2 bathrooms. Many updates and fenced in yard. Located on a one way street with easy access to 91.

Key facts

• Easy access to 91
• One way street
• Fenced in yard

Tags

• FENCED IN YARD
• ONE WAY STREET
• EASY ACCESS TO 91

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $340k).
• Recommended offer: $330k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 $4,678/mo this rent would consume 105% 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 $2k of loan paydown is wiped out by about $10k 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 $95k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $228k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $329,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.38% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.88%
• DSCR: 1.80
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $455,770
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
192 Chestnut St	0.45mi	9/3.0	3,650 (-5%)	1mo	$450,770	$123	71
91 Elm St	0.34mi	9/3.0	3,780 (-1%)	22mo	$426,000	$113	64
1245 Dwight St	0.31mi	8/4.5 (-1)	4,000 (+4%)	11mo	$387,500	$97	58
88-90 Saint James Ave	0.68mi	8/3.0 (-1)	3,570 (-7%)	22mo	$425,000	$119	34

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: 9.4%
• Equity multiple: 1.37×
• Total profit: $35,253
• Equity at exit: $50,695

10-year hold

• IRR: 18.6%
• Equity multiple: 2.55×
• Total profit: $147,107
• Equity at exit: $29,397

Cash invested: $95,200 (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: 12.8×

Monthly cashflow live

• Estimated rent: $4,678 high
• Mortgage (P&I): −$1,783
• Tax from tax record: −$353 /mo · $4,234/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$982
• Net cashflow: $1,418

Break-even live

Break-even rent $2,883

Max offer price $340,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,218
1× unit	6	2	$2,460
Total (2 units)			$4,678

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $340,000 Active 37 DOM
2. 2026-06-17
   days on market $340,000 Active 36 DOM
3. 2026-06-16
   days on market $340,000 Active 35 DOM
4. 2026-06-15
   days on market $340,000 Active 34 DOM
5. 2026-06-14
   days on market $340,000 Active 32 DOM
6. 2026-06-10
   days on market $340,000 Active 29 DOM
7. 2026-06-09
   days on market $340,000 Active 28 DOM
8. 2026-06-08
   days on market $340,000 Active 27 DOM
9. 2026-06-07
   days on market $340,000 Active 26 DOM
10. 2026-06-03
    days on market $340,000 Active 22 DOM
11. 2026-06-02
    days on market $340,000 Active 21 DOM
12. 2026-06-01
    days on market $340,000 Active 20 DOM
13. 2026-05-31
    days on market $340,000 Active 19 DOM
14. 2026-05-30
    days on market $340,000 Active 18 DOM
15. 2026-05-12
    listed $340,000 Active 301-char remark
16. 2021-11-17
    soldstatus $228,000 Sold 303-char remark

    Show marketing remark (303 chars)

    Opportunity knocks for owner occupied or an investment property. Looking for room, this property is the one you have been waiting for. Unit one features 3 bedrooms one bath. Unit 2, offers 6 BEDROOMS and 2 bathrooms. Many updates and fenced in yard. Located on a one way street with easy access to 91.

17. 2021-09-16
    status Under Agreement 303-char remark

    Show marketing remark (303 chars)

    Opportunity knocks for owner occupied or an investment property. Looking for room, this property is the one you have been waiting for. Unit one features 3 bedrooms one bath. Unit 2, offers 6 BEDROOMS and 2 bathrooms. Many updates and fenced in yard. Located on a one way street with easy access to 91.

18. 2021-09-02
    status Back On Market 303-char remark

    Show marketing remark (303 chars)

    Opportunity knocks for owner occupied or an investment property. Looking for room, this property is the one you have been waiting for. Unit one features 3 bedrooms one bath. Unit 2, offers 6 BEDROOMS and 2 bathrooms. Many updates and fenced in yard. Located on a one way street with easy access to 91.

19. 2021-07-03
    status Under Agreement 303-char remark

    Show marketing remark (303 chars)

    Opportunity knocks for owner occupied or an investment property. Looking for room, this property is the one you have been waiting for. Unit one features 3 bedrooms one bath. Unit 2, offers 6 BEDROOMS and 2 bathrooms. Many updates and fenced in yard. Located on a one way street with easy access to 91.

20. 2021-06-22
    listed $219,900 New 303-char remark

    Show marketing remark (303 chars)

    Opportunity knocks for owner occupied or an investment property. Looking for room, this property is the one you have been waiting for. Unit one features 3 bedrooms one bath. Unit 2, offers 6 BEDROOMS and 2 bathrooms. Many updates and fenced in yard. Located on a one way street with easy access to 91.

21. 2015-04-06
    soldstatus $99,000

    Show marketing remark (566 chars)

    Long time same family owned big 2-Family in convenient central inner city location is well worth looking at. Large full 6 room/3 bedroom apartments each with many custom features including beautiful natural woodwork, glass panel French doors, built-in China cabinet, hardwood floors, pantries and in-unit laundry connections. All separate utilities, both newer steam boilers/super store hot water systems, open front and rear porches, vinyl siding and replacement windows. Sound value at a realistic and opportune price. Both units available for immediate occupancy.

22. 2013-07-30
    listed $99,900

    Show marketing remark (566 chars)

    Long time same family owned big 2-Family in convenient central inner city location is well worth looking at. Large full 6 room/3 bedroom apartments each with many custom features including beautiful natural woodwork, glass panel French doors, built-in China cabinet, hardwood floors, pantries and in-unit laundry connections. All separate utilities, both newer steam boilers/super store hot water systems, open front and rear porches, vinyl siding and replacement windows. Sound value at a realistic and opportune price. Both units available for immediate occupancy.

ⓘ 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: $4,234 · $353/mo
• Projected year-2 tax: $4,234 · $353/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 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: $56,136
• − Mortgage interest: −$19,045
• − Property taxes: −$4,234
• − Insurance: −$1,700
• − Repairs & maintenance: −$4,491
• − Management: −$4,491
• − Depreciation: −$9,891
• Taxable income: $12,284
• Est. tax owed @ 24.0%: −$2,948
• After-tax cash flow: $14,069/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

+240.3% since first listed

8 events — show timeline

• 2026-05-12 Listed $340,000 FSBO.com
• 2021-11-17 Sold (MLS) $228,000 MLS PIN
• 2021-09-16 Pending — MLS PIN
• 2021-09-02 Relisted — MLS PIN
• 2021-07-03 Pending — MLS PIN
• 2021-06-22 Listed $219,900 MLS PIN
• 2015-04-06 Sold (MLS) $99,000 MLS PIN
• 2013-07-30 Listed $99,900 MLS PIN

Property tax history

+3.9%/yr

Latest (2023): $4,234 · +22.1% YoY. Source: county tax records.