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    Fitchburg Multi-Family Investment Opportunity Title is generated by Realmo AI

    306 Franklin Road, Fitchburg, MA 01420

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    Claim this Listing
    Pending
    $539,000

    MULTI_FAMILY - Fitchburg, MA

    Property size:
    2,060 SF
    Lot size:
    0.21 Acres
    Added:
    Apr 23, 2026
    Days on Market:
    50
    Last Refresh:
    Jun 11 at 7:06 am

    Property Features for 306 Franklin Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RES
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1
    Parking
    5
    Standard status
    Pending
    APN
    1508521
    Size
    2,060 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6228

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    2

    We can help!

    Listing Contact
    Rochelle Jonswold

    Listing agent Rochelle Jonswold

    Listing office Keller Williams Realty North Central 670 Mechanic Street, MA

    Listing date Apr 23, 2026

    MLS# 73506544 Listing URL

    Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large 2‑unit multi‑family property in a desirable university town location.
    • Separate utilities and heat for each unit.
    • Upgraded kitchens and hardwood floors in both units.
    • Recent updates include roof (2016), fenced yard (2021), and hot water tanks (2018 & 2019).
    • Two‑car garage and large private backyard.
    • Convenient access to major highways, shopping, restaurants, and public transportation (the T).

    Overview

    This large two-unit multi-family property is situated in a sought-after area within a university town setting. The property features separate utilities and heat for each unit. Both units include hardwood floors, French doors, built-in features, open floor plans, and bright living rooms. Separate dining rooms and upgraded kitchens enhance the living spaces. Each unit provides bedrooms with ample closet space, with the second level offering the potential for a third bedroom. Updates from prior ownership include refinished hardwood floors, a first-floor furnace, hot water tanks replaced in 2018 and 2019, updated showers, a roof replacement in 2016, and a fenced yard installed in 2021. The property includes attic storage and a covered front farmer's porch. A two-car garage is also present. The large, private backyard offers space for outdoor entertaining. This property is suitable for owner-occupants or investors, with one unit currently vacant. The property is conveniently located near major highways, shopping, restaurants, and transportation.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $40.8k $19.80
    − Vacancy −$1.0k −$0.49
    EGI $39.8k $19.31
    − OpEx −$11.9k −$5.79
    NOI $27.8k $13.52
    2,060 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $397.8K
    $348.1K – $464.1K (±1% cap)
    NOI $27,846 @ 7.0% cap · market cap 5.17%
    Second Best
    Apartment 5plus
    $346.2K
    $302.9K – $403.9K (±1% cap)
    NOI $24,234 @ 7.0% cap · market cap 4.50%
    Theoretical Best
    Office A
    $703.5K
    $615.5K – $820.7K (±1% cap)
    NOI $49,242 @ 7.0% cap · market cap 9.14%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fitchburg
    County
    Worcester
    State
    Massachusetts
    Longitude
    -71.822683
    Latitude
    42.568581

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    FAQs

    What type of property is this?
    Duplex - Spacious two-unit property with separate utilities and desirable features.
    Where is this duplex located?
    The property is located at 306 Franklin Road Fitchburg, MA.
    What is the asking price?
    The asking price for this property is $539,000.
    What are key features of this property?
    This property features: Large 2‑unit multi‑family property in a desirable university town location.; Separate utilities and heat for each unit.; **Upgraded kitchens and hardwood floors in both units.**
    (978) 840-9000
    We can help!
    Listing Contact
    Rochelle Jonswold
    Learn More
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