Updated Two-Unit
For Sale
$419,000
7 Concord St, Fitchburg, MA 01420
Vacant two-family property with refreshed interiors, separate living spaces, and laundry hookups in the basement.
Property Size1,579 SF
Days on Market24
Property Features for 7 Concord St
General Information
Standard status
Active
Size
1,579 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,038
Building Details
Building Size
1,579 SF
Year Built
1870
Stories
2
Units
2
Listed By:
Christine Hebert Scannell
(508) 397-2395
Source:
Elliman
Added: Sep 10
Changed: Sep 29
Last Checked: Oct 2 at 11:46PM
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 Christine Hebert Scannell
Investment Insights
Based on property information with market context.
Built in 1870, this two-unit duplex has two bedrooms in each residence and is currently vacant. Recent updates include a two-year-old roof, newer electrical service, interior and exterior paint, carpeting, vinyl plank flooring, granite countertops, and tiled bathrooms. Gas heat and hot water serve the property, with laundry hookups located in the basement.
The property is located at 7 Concord St in Fitchburg, near Fitchburg State University and close to shopping, restaurants, public transportation, and other area amenities. WalkScore is 63, BikeScore is 40, and TransitScore is 45.
Both residences are available for occupancy, providing flexibility for an owner-occupant or an investor seeking to select tenants for each unit.
The property is located at 7 Concord St in Fitchburg, near Fitchburg State University and close to shopping, restaurants, public transportation, and other area amenities. WalkScore is 63, BikeScore is 40, and TransitScore is 45.
Both residences are available for occupancy, providing flexibility for an owner-occupant or an investor seeking to select tenants for each unit.
Key Highlights
- Two bedrooms in each unit
- Both units are vacant and ready for occupancy
- Two‑year‑old roof and newer electrical service
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
$21,344
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
5.09%
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%
$426,880
$426.9K
Cap Rate 7%
$304,914
$304.9K
Cap Rate 9%
$237,156
$237.2K
Market Conditions
NOI Build-Up for 1,579 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
$31.3K $19.80/SF
− Vacancy
−$772 −$0.49/SF
EGI
$30.5K $19.31/SF
− OpEx
−$9.1K −$5.79/SF
NOI
$21.3K $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%
$426,880
Cap Rate 7%
$304,914
Cap Rate 9%
$237,156
Alternative Uses
Best Use
Multifamily LT 5
$304.9K
$266.8K – $355.7K
NOI $21,344 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$265.4K
$232.2K – $309.6K
NOI $18,575 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$539.2K
$471.8K – $629.1K
NOI $37,744 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
836
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Vacant two-family property with refreshed interiors, separate living spaces, and laundry hookups in the basement.
Where is this duplex located?
The property is located at 7 Concord St Fitchburg, MA.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Two bedrooms in each unit; Both units are vacant and ready for occupancy; Two‑year‑old roof and newer electrical service
