Well-Maintained 3-Unit
For Sale
$620,000
142 Madison St, Fitchburg, MA 01420
Three-family multifamily property with a consistent rental history and maintained condition in Fitchburg, Massachusetts.
Property Size3,591 SF
Price / SF$172.65
Days on Market54
Property Features for 142 Madison St
General Information
Standard status
Active
Size
3,591 SF
Property subtype
3 Family
Building Details
Building Size
3,591 SF
Year Built
1920
Listing Agency:
R. D. Ledogar Real Estate
(978) 830-0035
Listed By:
Rosemarie Ledogar
(351) 213-1609
Source:
Iverty
Added: Jul 19
Changed: Sep 9
Last Checked: Sep 10 at 5:50AM
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 R. D. Ledogar Real Estate
Investment Insights
Based on property information with market context.
This well-maintained three-family multifamily property offers three residential units and a proven rental history with consistent occupancy. The building is described as thoughtfully maintained over the years, reflecting pride of ownership and dependable income potential.
The property is located at 142 Madison St in Fitchburg, MA 01420, and is described as being just minutes from shopping, restaurants, public transportation, commuter routes, schools, parks, and medical facilities.
As a residential income property with three units, it is positioned for buyers seeking a straightforward income-generating multifamily configuration.
The property is located at 142 Madison St in Fitchburg, MA 01420, and is described as being just minutes from shopping, restaurants, public transportation, commuter routes, schools, parks, and medical facilities.
As a residential income property with three units, it is positioned for buyers seeking a straightforward income-generating multifamily configuration.
Key Highlights
- 3‑family multifamily property in Fitchburg, MA
- Year built: 1920
- Well‑maintained with a consistent rental history and dependable rental income
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
$48,542
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
7.83%
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%
$970,840
$970.8K
Cap Rate 7%
$693,457
$693.5K
Cap Rate 9%
$539,356
$539.4K
Market Conditions
NOI Build-Up for 3,591 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
$71.1K $19.80/SF
− Vacancy
−$1.8K −$0.49/SF
EGI
$69.3K $19.31/SF
− OpEx
−$20.8K −$5.79/SF
NOI
$48.5K $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%
$970,840
Cap Rate 7%
$693,457
Cap Rate 9%
$539,356
Alternative Uses
Best Use
Multifamily LT 5
$693.5K
$606.8K – $809.0K
NOI $48,542 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$603.5K
$528.1K – $704.1K
NOI $42,244 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,839 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
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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?
Triplex - Three-family multifamily property with a consistent rental history and maintained condition in Fitchburg, Massachusetts.
Where is this triplex located?
The property is located at 142 Madison St Fitchburg, MA.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 3‑family multifamily property in Fitchburg, MA; Year built: 1920; Well‑maintained with a consistent rental history and dependable rental income
