Fitchburg Three-Family
For Sale
$599,900
115 Beech, Fitchburg, MA 01420
Three-family residence in Fitchburg with modern amenities and convenient location.
Property Size2,808 SF
Days on Market119
Property Features for 115 Beech
General Information
Standard status
Active
Size
2,808 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,383
Building Details
Building Size
2,808 SF
Year Built
1900
Stories
3
Units
3
Listing Agency:
Keller Williams Realty Boston Northwest
(617) 955-3902
Listed By:
Manel Sylvarin
(617) 955-3902
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 19 at 12:45PM
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 Keller Williams Realty Boston Northwest
Investment Insights
Based on property information with market context.
This three-family residence is located in Fitchburg, Massachusetts. The property features two 3-bedroom units and one 2-bedroom unit. The units have been updated with modern amenities and finishes. Each unit includes its own washer and dryer hookup. Unit 1 features three bedrooms and central heat and AC, which was installed in 2025. Unit 3 has a lead paint certificate. The property is situated in a desirable neighborhood near amenities, schools, public transportation, and shopping. Unit 1 can be delivered vacant. The bike score is 34, indicating it is somewhat bikeable. The walk score is 65, indicating it is somewhat walkable. The transit score is 43, indicating some transit options are available. This property is suitable for both owner-occupiers and investors.
Key Highlights
- Three units offer diverse rental or living options, featuring two 3‑bedroom and one 2‑bedroom configuration.
- Recently renovated with modern amenities and finishes.
- Unit 1 has central heat/AC installed in 2025.
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
$37,958
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
6.33%
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%
$759,160
$759.2K
Cap Rate 7%
$542,257
$542.3K
Cap Rate 9%
$421,756
$421.8K
Market Conditions
NOI Build-Up for 2,808 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
$55.6K $19.80/SF
− Vacancy
−$1.4K −$0.49/SF
EGI
$54.2K $19.31/SF
− OpEx
−$16.3K −$5.79/SF
NOI
$38.0K $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%
$759,160
Cap Rate 7%
$542,257
Cap Rate 9%
$421,756
Alternative Uses
Best Use
Multifamily LT 5
$542.3K
$474.5K – $632.6K
NOI $37,958 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$471.9K
$412.9K – $550.6K
NOI $33,033 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$958.9K
$839.0K – $1.12M
NOI $67,122 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
390
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family residence in Fitchburg with modern amenities and convenient location.
Where is this triplex located?
The property is located at 115 Beech Fitchburg, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Three units offer diverse rental or living options, featuring two 3‑bedroom and one 2‑bedroom configuration.; Recently renovated with modern amenities and finishes.; Unit 1 has central heat/AC installed in 2025.
