229 Mccarthy Ave Chicopee — Photo 1 of 42
$385,000
Investment Analysis — 229 Mccarthy Ave
Chicopee, MA 01020
Based on HUD Small Area Fair Market Rent for Springfield, MA MSA, a 3-bedroom in 01020 carries an estimated $2,120/mo in gross rent — about a 3.77% cap rate and $14,506/yr in estimated NOI at the $385,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2
SqFt
1,284
Style
Single Family
Built
1961
Fairview Ranch! Move-in ready and renovated from top to bottom, this beautifully updated 3-bedroom, 2-bathroom home offers hardwood floors throughout, a freshly painted interior, and an abundance of modern updates. Cozy electric fireplace with stone surround in living room. Thermal-pane windows, central air conditioning, and gas heat add comfort and efficiency. Major improvements include new roof (2024), new chimney (2026), and new gutters (2026). The clean, dry basement with full bath offers potential for additional living space. Outside, enjoy a huge, completely fenced-in backyard featuring a 24-foot round above-ground pool, vegetable garden, newly planted privacy hedges, and a large stone fire pit, creating the perfect setting for entertaining or relaxing. Additional features include an oversized one-car garage and an irrigation well for watering the lawn without using your home’s water supply. With extensive renovations already completed and nothing left to do but move in, this home is a must-see!
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 642 sq ft (the lesser of 900 sq ft or half the 1,284 sq ft principal dwelling). Lot size: 26,136 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater
Geography
Listing Agent: The Pioneer Group
Listing Office: NextHome Elite Realty
MLS® Number: 73576945