488 Sheridan Street Chicopee — Photo 1 of 37
$399,900
Investment Analysis — 488 Sheridan Street
Chicopee, MA 01020 — Near Westover
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 3.46% cap rate and $13,842/yr in estimated NOI at the $399,900 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
1
SqFt
1,008
Style
Single Family
Built
1998
Meticulously maintained and lovingly cared for by the original owners, this charming ranch is an absolute gem! Inside you’ll find a cozy, bright interior with lots of newer flooring, a functional kitchen, dining area and a comfortable living room that just feels like home. Three bedrooms and a full bath complete the main level. Downstairs offers even more space with a generous family room, laundry area and plenty of storage. Major exterior updates include the roof and siding, both completed in 2023, along with a newer driveway completed in 2020. Outside is where this property really shines! The completely fenced-in backyard is an absolute oasis with a pristine pool, spectacular plantings, a spacious patio and plenty of room to relax, entertain and enjoy your own private retreat. A one-car garage and plenty of parking add even more convenience. With easy access to local highways, shopping, dining, Westover Air Reserve Base and all area amenities, this home is perfect whether you’re just starting out or looking to downsize. Don’t miss this gem — it’s a winner!
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: 504 sq ft (the lesser of 900 sq ft or half the 1,008 sq ft principal dwelling). Lot size: 12,463 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.
Open Houses
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Water Heater • Leased Water Heater • Range • Dishwasher • Refrigerator
Neighborhood
Public Transportation • Shopping • Highway Access • House of Worship • Public School
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstFlooring - Wall to Wall Carpet, Window(s) - Bay/Bow/Box
Kitchen
Lvl FirstFlooring - Vinyl
Family Room
Lvl BasementFlooring - Wall to Wall Carpet
Master Bedroom
Lvl FirstCloset, Flooring - Wall to Wall Carpet
Bedroom 2
Lvl FirstBedroom 3
Lvl FirstCloset, Flooring - Wall to Wall Carpet
Bathroom 1
Lvl FirstBathroom - Full, Bathroom - With Tub & Shower
Listing Agent: Joni Fleming
Listing Office: ERA M Connie Laplante Real Estate
MLS® Number: 73573636
