Duplex with Basement
New
For Sale
$399,900
126 Payson St, Fitchburg, MA 01420
Two-family residence with renovated baths, updated kitchen finishes, and flexible living arrangements.
Property Size2,118 SF
Price / SF$188.81
Days on Market5
Property Features for 126 Payson St
General Information
Standard status
Active
Size
2,118 SF
Property subtype
2 Family - 2 Units Up/Down
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
fireplace
spa tub
backyard
Building Details
Building Size
2,118 SF
Year Built
1900
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 14 at 8:45AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This 2,118-square-foot duplex, built in 1900, combines traditional character with practical updates across multiple levels. The first floor includes an updated kitchen with butcher-block countertops, recessed lighting, and bamboo hardwood flooring, along with a half bath and dining room centered around a slate wood-burning fireplace. The upper living area can accommodate three bedrooms and includes a recently renovated bathroom with ceramic flooring and a spa tub.
A one-bedroom basement apartment adds a separate living component with its own kitchen and new cabinets. The property also includes a backyard suited to outdoor gatherings. Located at 126 Payson St in Fitchburg, the home is minutes from Route 2, the commuter train station, Market Basket, shopping, restaurants, parks, and Fitchburg State University.
A one-bedroom basement apartment adds a separate living component with its own kitchen and new cabinets. The property also includes a backyard suited to outdoor gatherings. Located at 126 Payson St in Fitchburg, the home is minutes from Route 2, the commuter train station, Market Basket, shopping, restaurants, parks, and Fitchburg State University.
Key Highlights
- 2,118‑square‑foot duplex at 126 Payson St, Fitchburg, MA 01420
- Built in 1900 with updated kitchen and renovated bathroom
- First‑floor kitchen features butcher‑block countertops, recessed lighting, and bamboo hardwood flooring
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
$28,630
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
7.16%
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%
$572,600
$572.6K
Cap Rate 7%
$409,000
$409.0K
Cap Rate 9%
$318,111
$318.1K
Market Conditions
NOI Build-Up for 2,118 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
$41.9K $19.80/SF
− Vacancy
−$1.0K −$0.49/SF
EGI
$40.9K $19.31/SF
− OpEx
−$12.3K −$5.79/SF
NOI
$28.6K $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%
$572,600
Cap Rate 7%
$409,000
Cap Rate 9%
$318,111
Alternative Uses
Best Use
Multifamily LT 5
$409.0K
$357.9K – $477.2K
NOI $28,630 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$355.9K
$311.5K – $415.3K
NOI $24,916 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$723.3K
$632.9K – $843.8K
NOI $50,629 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
962
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 residence with renovated baths, updated kitchen finishes, and flexible living arrangements.
Where is this duplex located?
The property is located at 126 Payson St Fitchburg, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,118‑square‑foot duplex at 126 Payson St, Fitchburg, MA 01420; Built in 1900 with updated kitchen and renovated bathroom; First‑floor kitchen features butcher‑block countertops, recessed lighting, and bamboo hardwood flooring
