Duplex With Updated
New
For Sale
$425,000
25 Goddard St, Fitchburg, MA 01420
Two-family property with separate utilities and basement laundry hookups.
Property Size2,330 SF
Days on Market5
Property Features for 25 Goddard St
General Information
Standard status
Active
Size
2,330 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,918
Building Details
Building Size
2,330 SF
Year Built
1910
Stories
3
Units
2
Listing Agency:
(978) 407-5778
Listed By:
Michelle Lopez
(978) 407-5778
Source:
Elliman
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 22 at 11:52AM
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 Michelle Lopez
Investment Insights
Based on property information with market context.
This two-family residence includes three bedrooms in each unit, providing a clearly defined duplex layout. Separate utilities serve the apartments, while the basement includes laundry hookups. The first-floor heating system is an updated on-demand gas unit. Property improvements include a newer roof, newer windows, and plumbing and electrical updates.
The home is located near downtown and area amenities in Fitchburg. WalkScore is 60, BikeScore is 36, and TransitScore is 30. Built in 1910, the property offers an established residential structure with updated building systems and separate unit functionality.
The home is located near downtown and area amenities in Fitchburg. WalkScore is 60, BikeScore is 36, and TransitScore is 30. Built in 1910, the property offers an established residential structure with updated building systems and separate unit functionality.
Key Highlights
- Two‑family home with 3 bedrooms in each unit
- Separate utilities for the two apartments
- Updated on‑demand gas heating unit serving the first floor
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
$31,496
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
7.41%
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%
$629,920
$629.9K
Cap Rate 7%
$449,943
$449.9K
Cap Rate 9%
$349,956
$350.0K
Market Conditions
NOI Build-Up for 2,330 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
$46.1K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$45.0K $19.31/SF
− OpEx
−$13.5K −$5.79/SF
NOI
$31.5K $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%
$629,920
Cap Rate 7%
$449,943
Cap Rate 9%
$349,956
Alternative Uses
Best Use
Multifamily LT 5
$449.9K
$393.7K – $524.9K
NOI $31,496 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$391.6K
$342.6K – $456.8K
NOI $27,410 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$795.7K
$696.2K – $928.3K
NOI $55,696 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
718
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 - Two-family property with separate utilities and basement laundry hookups.
Where is this duplex located?
The property is located at 25 Goddard St Fitchburg, MA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑family home with 3 bedrooms in each unit; Separate utilities for the two apartments; Updated on‑demand gas heating unit serving the first floor
