Three-Unit Property with Off-Street
For Sale
$525,000
159 East St, Fitchburg, MA 01420
Separate heating, fenced outdoor space, and basement storage complement the three-unit layout.
Property Size2,476 SF
Price / SF$212.04
Days on Market124
Property Features for 159 East St
General Information
Standard status
Active
Size
2,476 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
RA
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
fenced yard
basement storage
Building Details
Building Size
2,476 SF
Year Built
1929
Stories
4
Listing Agency:
Coldwell Banker Realty - Leominster
Listed By:
T. Jay Johnson Jr.
Source:
Cjbarrett
Added: May 1
Changed: Aug 29
Last Checked: May 28 at 5:47AM
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 Coldwell Banker Realty - Leominster
Investment Insights
Based on property information with market context.
Located at 159 East Street in Fitchburg, Massachusetts, this 2476-square-foot triplex was built in 1929 and contains three residential units. Each unit has separate heating, while the property also includes a fenced yard, off-street parking, and basement storage. The studio is currently vacant and has been renovated with added insulation for improved energy efficiency.
Property updates include new windows, a recent roof, and multiple new appliances. The location is near FSU, a park, shopping, and commuter rail, providing access to several nearby amenities and transportation options. The combination of three units, a vacant studio, separate heating, and on-site parking supports a range of residential ownership and occupancy arrangements.
Property updates include new windows, a recent roof, and multiple new appliances. The location is near FSU, a park, shopping, and commuter rail, providing access to several nearby amenities and transportation options. The combination of three units, a vacant studio, separate heating, and on-site parking supports a range of residential ownership and occupancy arrangements.
Key Highlights
- 2476‑square‑foot triplex with 3 units, built in 1929
- Studio unit is currently vacant and includes added insulation
- Separate heating for each unit
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
$33,470
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
6.38%
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%
$669,400
$669.4K
Cap Rate 7%
$478,143
$478.1K
Cap Rate 9%
$371,889
$371.9K
Market Conditions
NOI Build-Up for 2,476 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
$49.0K $19.80/SF
− Vacancy
−$1.2K −$0.49/SF
EGI
$47.8K $19.31/SF
− OpEx
−$14.3K −$5.79/SF
NOI
$33.5K $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%
$669,400
Cap Rate 7%
$478,143
Cap Rate 9%
$371,889
Alternative Uses
Best Use
Multifamily LT 5
$478.1K
$418.4K – $557.8K
NOI $33,470 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$416.1K
$364.1K – $485.5K
NOI $29,128 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$845.5K
$739.8K – $986.4K
NOI $59,186 @ 7.0% cap · market cap 11.27%
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
709
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 - Separate heating, fenced outdoor space, and basement storage complement the three-unit layout.
Where is this triplex located?
The property is located at 159 East St Fitchburg, MA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2476‑square‑foot triplex with 3 units, built in 1929; Studio unit is currently vacant and includes added insulation; Separate heating for each unit
