3-Unit Residential Income
For Sale
$620,000
142 Madison Street, Fitchburg, MA 01420
Multi-Family, Fitchburg, MA
Property Size3,591 SF
Lot Size0.16 Acres
Price / SF$172.65
Days on Market38
Property Features for 142 Madison Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Basement, Bedroom 6, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 7, Bedroom 8, Bedroom 9, Bedroom 4
Parking features
Driveway, Off Street
Lot features
City Lot, Sidewalks, In Town, Near Shopping, Near Public Transport, Near School(s)
Directions
Use GPS
Standard status
Active
Size
3,591 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6220
Utilities
Utilities
Cable Available
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Building materials
Vinyl Siding
Roof type
Flat
Architectural style
Other
Listing Agency:
RD Ledogar Real Estate
(351) 213-1609
Listed By:
Rosemarie Ledogar
(351) 213-1609
Added: Jul 19
Changed: Aug 24
Last Checked: Aug 25 at 10:06PM
MLS# 5105550
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 142 Madison Street in Fitchburg, this triplex contains three residential units with three bedrooms in each. The property offers 3,591 square feet on a 0.16-acre lot, with vinyl siding, a flat roof, natural-gas heating, public water, and cable availability. Parking is provided by a driveway and off-street spaces.
Built in 1920, the property combines multiple residential units with features that support both rental use and owner occupancy. The source information identifies one unit as vacant and another as expected to become vacant, but the reported occupancy details are not consistent. Tenants are responsible for all utilities. Fitchburg State University, shopping, schools, restaurants, transportation, and other amenities are identified in the surrounding area.
Built in 1920, the property combines multiple residential units with features that support both rental use and owner occupancy. The source information identifies one unit as vacant and another as expected to become vacant, but the reported occupancy details are not consistent. Tenants are responsible for all utilities. Fitchburg State University, shopping, schools, restaurants, transportation, and other amenities are identified in the surrounding area.
Key Highlights
- Three‑unit property with three bedrooms in each residence
- 3,591 square feet on a 0.16‑acre lot
- Built in 1920 with vinyl siding and a flat roof
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
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
296
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?
Triplex - Three separate residences offer tenant-paid utilities and flexibility for an owner-occupant.
Where is this triplex located?
The property is located at 142 Madison Street 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: Three‑unit property with three bedrooms in each residence; 3,591 square feet on a 0.16‑acre lot; Built in 1920 with vinyl siding and a flat roof
