Vacant Two-Family
For Sale
$349,900
109 Albee St, Fitchburg, MA 01420
Two-family property with a six-bedroom layout, two full baths, and convenient access to shopping and public transportation.
Property Size2,376 SF
Price / SF$147.26
Days on Market23
Property Features for 109 Albee St
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,365
Listing Agency:
eXp Realty LLC
(888) 854-7493
Listed By:
Isaac Dube · License #9577725
(617) 383-7523
Source:
Exprealty
Added: Sep 11
Changed: Oct 1
Last Checked: Oct 1 at 1:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty LLC
Investment Insights
Based on property information with market context.
This two-family duplex at 109 Albee St includes approximately 2,376 square feet, six bedrooms, and two full baths. Built in 1880, the property is being delivered vacant and sold in its current as-is condition, allowing the next owner to determine the renovation and operating plan.
The Fitchburg location is convenient to shopping, public transportation, and major routes. The property requires buyer and agent due diligence and is offered for cash or hard-money financing only, as it will not qualify for conventional financing.
The Fitchburg location is convenient to shopping, public transportation, and major routes. The property requires buyer and agent due diligence and is offered for cash or hard-money financing only, as it will not qualify for conventional financing.
Key Highlights
- Two‑family duplex with approximately 2,376 square feet
- Six bedrooms and two full baths
- Delivered vacant and sold strictly as‑is
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,118
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$642,360
$642.4K
Cap Rate 7%
$458,829
$458.8K
Cap Rate 9%
$356,867
$356.9K
Market Conditions
NOI Build-Up for 2,376 SF
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.
Gross rent
$47.0K $19.80/SF
− Vacancy
−$1.2K −$0.49/SF
EGI
$45.9K $19.31/SF
− OpEx
−$13.8K −$5.79/SF
NOI
$32.1K $13.52/SF
Area
Worcester County, MA
Vacancy
2.47%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$642,360
Cap Rate 7%
$458,829
Cap Rate 9%
$356,867
Alternative Uses
Best Use
Multifamily LT 5
$458.8K
$401.5K – $535.3K
NOI $32,118 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$399.3K
$349.4K – $465.9K
NOI $27,951 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$811.4K
$710.0K – $946.6K
NOI $56,796 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Explore this area
Business Placement
Demographics for 01420, MA
41,940
Population
17,998
Households
2.3
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
30.1 sq mi
ZIP Area
1,393
Density / Sq Mi
$70,334
Median Household Income
$41,753
Median Earnings
$1,131
Median Rent
$294,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with a six-bedroom layout, two full baths, and convenient access to shopping and public transportation.
Where is this duplex located?
The property is located at 109 Albee St Fitchburg, MA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑family duplex with approximately 2,376 square feet; Six bedrooms and two full baths; Delivered vacant and sold strictly as‑is
