Duplex with Balcony
New
For Sale
$350,000
24 Lawrence St, Fitchburg, MA 01420
Residential Income, Fitchburg, MA
Property Size1,344 SF
Lot Size0.05 Acres
Price / SF$260.42
Days on Market2
Property Features for 24 Lawrence St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4
Parking
1
Spa
1
Elementary school
Crocker Elementary
Middle school
Memorial Middle School
High school
Fitchburg Highschool
Directions
Lunenburg St to Lawrence St
Subdivision
Fitchburg
Standard status
Active
APN
M:0045 B:0084 L:0000,1504109
Size
1,344 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3956
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty-Merrimack
(978) 692-3280
Listed By:
Claire Ryan
(978) 996-8287
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 3 at 4:06AM
MLS# 73585951
Copyright © 2026 MLS Property Information Network Inc. 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.
This 1,344-square-foot duplex, built in 1900, contains four bedrooms and two bathrooms. The property occupies a 0.0528-acre lot and has RB zoning. A balcony deck, fencing, and fresh paint are among the improvements; the hot water tank dates to 2026 and the boiler to 2019.
The two-unit configuration allows an owner to occupy one unit while renting the other, or to rent both units. The property is located in Fitchburg, Massachusetts.
The two-unit configuration allows an owner to occupy one unit while renting the other, or to rent both units. The property is located in Fitchburg, Massachusetts.
Key Highlights
- Two‑unit duplex with four bedrooms and two bathrooms
- 1,344 square feet on a 0.0528‑acre lot
- RB zoning
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
$18,168
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
5.19%
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%
$363,360
$363.4K
Cap Rate 7%
$259,543
$259.5K
Cap Rate 9%
$201,867
$201.9K
Market Conditions
NOI Build-Up for 1,344 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
$26.6K $19.80/SF
− Vacancy
−$657 −$0.49/SF
EGI
$26.0K $19.31/SF
− OpEx
−$7.8K −$5.79/SF
NOI
$18.2K $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%
$363,360
Cap Rate 7%
$259,543
Cap Rate 9%
$201,867
Alternative Uses
Best Use
Multifamily LT 5
$259.5K
$227.1K – $302.8K
NOI $18,168 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$225.9K
$197.6K – $263.5K
NOI $15,811 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$459.0K
$401.6K – $535.5K
NOI $32,127 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
824
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units support owner occupancy with rental income or use as a two-unit rental property.
Where is this duplex located?
The property is located at 24 Lawrence St Fitchburg, MA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with four bedrooms and two bathrooms; 1,344 square feet on a 0.0528‑acre lot; RB zoning
