Two-Family Duplex with Solar
New
For Sale
$430,000
116 Marshall St, Fitchburg, MA 01420
Separate utilities, laundry hookups, and a newer roof support the existing two-unit layout.
Property Size1,584 SF
Days on Market3
Property Features for 116 Marshall St
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Investment
Property Condition
Severity
Repairs Needed
Evidence
with a little TLC
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,259
Amenities
washer/dryer hookup
solar panels
Building Details
Building Size
1,584 SF
Year Built
1900
Buildings
1
Stories
3
Units
2
Tenancy
Single
Listing Agency:
(978) 660-3712
Listed By:
Jacqueline Solis · License #454502423
(978) 660-3712
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 11:40AM
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 Jacqueline Solis
Investment Insights
Based on property information with market context.
This duplex, built in 1900, contains two residential units with separate utilities. The main unit is vacant, while the lower-level unit is occupied by a tenant. Washer and dryer hookups are provided, and the roof has been updated. Solar panels are installed, with an existing contract to be assumed by the buyer.
The property is located at 116 Marshall St in Fitchburg, Massachusetts. Walk Score is 78, Bike Score is 58, and Transit Score is 44. The current configuration supports either owner occupancy with a rented second unit or continued use as a two-unit income property, consistent with the existing layout and occupancy.
The property is located at 116 Marshall St in Fitchburg, Massachusetts. Walk Score is 78, Bike Score is 58, and Transit Score is 44. The current configuration supports either owner occupancy with a rented second unit or continued use as a two-unit income property, consistent with the existing layout and occupancy.
Key Highlights
- Two‑unit duplex built in 1900
- Main unit is vacant; lower‑level unit is rented
- Separate utilities for the residential units
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
$21,412
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
4.98%
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%
$428,240
$428.2K
Cap Rate 7%
$305,886
$305.9K
Cap Rate 9%
$237,911
$237.9K
Market Conditions
NOI Build-Up for 1,584 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
$31.4K $19.80/SF
− Vacancy
−$775 −$0.49/SF
EGI
$30.6K $19.31/SF
− OpEx
−$9.2K −$5.79/SF
NOI
$21.4K $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%
$428,240
Cap Rate 7%
$305,886
Cap Rate 9%
$237,911
Alternative Uses
Best Use
Multifamily LT 5
$305.9K
$267.7K – $356.9K
NOI $21,412 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$266.2K
$232.9K – $310.6K
NOI $18,634 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$540.9K
$473.3K – $631.1K
NOI $37,864 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
574
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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities, laundry hookups, and a newer roof support the existing two-unit layout.
Where is this duplex located?
The property is located at 116 Marshall St Fitchburg, MA.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1900; Main unit is vacant; lower‑level unit is rented; Separate utilities for the residential units
