Two-Unit Home with
For Sale
$530,000
208 Woodland Street, Fitchburg, MA 01420
Duplex with distinct living spaces, updated efficiency features, separate electric metering, and a detached garage.
Property Size1,878 SF
Price / SF$282.22
Days on Market12
Property Features for 208 Woodland Street
General Information
Standard status
Active
Size
1,878 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1930
Listing Agency:
EXIT New Options Real Estate
Listed By:
Kevin Cormier
(617) 262-6200
Source:
Cabotandcompany
Added: Aug 24
Changed: Sep 3
Last Checked: Sep 2 at 8:14PM
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 EXIT New Options Real Estate
Investment Insights
Based on property information with market context.
This 1,878-square-foot duplex, built in 1930, combines two distinct residential units with period details and practical updates. The first-floor residence includes three bedrooms, a spacious living room, hardwood floors, built-ins, and bright, generously sized rooms. Upstairs, the one-bedroom unit adds bonus space suited to a home office. A new mini-split system provides heating and cooling, while insulation extending from the basement through the attic supports improved energy efficiency. Separate electric meters serve the units, and a detached one-car garage adds storage or parking capacity.
The property has views of Park Hill Park and is located at 208 Woodland Street in Fitchburg, Massachusetts. Its two-unit configuration supports multi-generational occupancy, owner use with rental income, or a traditional investment approach, as described by the available property details.
The property has views of Park Hill Park and is located at 208 Woodland Street in Fitchburg, Massachusetts. Its two-unit configuration supports multi-generational occupancy, owner use with rental income, or a traditional investment approach, as described by the available property details.
Key Highlights
- 1,878‑square‑foot duplex built in 1930
- First‑floor unit with 3 bedrooms and a spacious living room
- Second‑floor unit includes 1 bedroom plus bonus office space
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
$25,386
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
4.79%
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%
$507,720
$507.7K
Cap Rate 7%
$362,657
$362.7K
Cap Rate 9%
$282,067
$282.1K
Market Conditions
NOI Build-Up for 1,878 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
$37.2K $19.80/SF
− Vacancy
−$918 −$0.49/SF
EGI
$36.3K $19.31/SF
− OpEx
−$10.9K −$5.79/SF
NOI
$25.4K $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%
$507,720
Cap Rate 7%
$362,657
Cap Rate 9%
$282,067
Alternative Uses
Best Use
Multifamily LT 5
$362.7K
$317.3K – $423.1K
NOI $25,386 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$315.6K
$276.2K – $368.2K
NOI $22,093 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$641.3K
$561.2K – $748.2K
NOI $44,892 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
259
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?
Duplex - Duplex with distinct living spaces, updated efficiency features, separate electric metering, and a detached garage.
Where is this duplex located?
The property is located at 208 Woodland Street Fitchburg, MA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 1,878‑square‑foot duplex built in 1930; First‑floor unit with 3 bedrooms and a spacious living room; Second‑floor unit includes 1 bedroom plus bonus office space
