Remodeled Two-Family
15 Congress St, Fitchburg, MA 01420
For Sale
$619,000
Updated income property with two apartments, separate laundry areas, basement storage, and modernized building systems.
Property Size1,800 SF
Price / SF$343.89
Days on Market60
Property Features for 15 Congress St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Building Details
Year Built
Listing Agency:
Ligia Garcia, Coldwell Banker Realty - Waltham
Listed By:
Team Blue
(978) 658-8828
Source:
Northofbostonhome
Added: Sep 16
Changed: Nov 12
Last Checked: Nov 12 at 8:02AM
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 Ligia Garcia, Coldwell Banker Realty - Waltham
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Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex, built in 1960, contains two separately configured apartments. The first-floor residence offers three bedrooms, one bathroom, wood flooring, recessed lighting, and a renovated kitchen with granite countertops, stainless appliances, and extensive cabinetry. The second-floor apartment includes two bedrooms, one bathroom, wood floors, and a remodeled granite-counter kitchen. Laundry is provided in the basement for the first-floor unit and beside the second-floor kitchen.
Recent improvements include high-efficiency boilers, replacement windows, a new roof, vinyl siding, updated plumbing, and updated electrical systems. Basement storage adds functional utility. The property is adjacent to Fitchburg State University and minutes from the commuter train, providing convenient access to both destinations.
Recent improvements include high-efficiency boilers, replacement windows, a new roof, vinyl siding, updated plumbing, and updated electrical systems. Basement storage adds functional utility. The property is adjacent to Fitchburg State University and minutes from the commuter train, providing convenient access to both destinations.
Key Highlights
- Two apartments with a 3‑bedroom first‑floor unit and 2‑bedroom second‑floor unit
- 1,800 SF duplex built in 1960
- Renovated kitchens with granite countertops; first‑floor kitchen has stainless appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,332
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,640
$486.6K
Cap Rate 7%
$347,600
$347.6K
Cap Rate 9%
$270,356
$270.4K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$35.6K $19.80/SF
− Vacancy
−$880 −$0.49/SF
EGI
$34.8K $19.31/SF
− OpEx
−$10.4K −$5.79/SF
NOI
$24.3K $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 Rate 5%
$486,640
Cap Rate 7%
$347,600
Cap Rate 9%
$270,356
Alternative Uses
Best Use
Multifamily LT 5
$347.6K
$304.2K – $405.5K
NOI $24,332 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$302.5K
$264.7K – $352.9K
NOI $21,175 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$614.7K
$537.8K – $717.1K
NOI $43,027 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
956
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
$294,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Fitchburg, MA
Properties on Market for Duplexes in Fitchburg
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Updated income property with two apartments, separate laundry areas, basement storage, and modernized building systems.
Where is this duplex located?
The property is located at 15 Congress St Fitchburg, MA.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Two apartments with a 3‑bedroom first‑floor unit and 2‑bedroom second‑floor unit; 1,800 SF duplex built in 1960; Renovated kitchens with granite countertops; first‑floor kitchen has stainless appliances
