Duplex with Finished Third
For Sale
$540,000
26-28 Eureka, Fitchburg, MA 01420
Two units combine flexible layouts, separate utilities, outdoor decks, and original hardwood flooring.
Property Size3,514 SF
Price / SF$153.67
Days on Market114
Property Features for 26-28 Eureka
General Information
Standard status
Active
Size
3,514 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
RES
Net Operating Income
$28,800
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR+bonus room
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,855
Amenities
decks
separate laundry areas
Building Details
Building Size
3,514 SF
Year Built
1940
Stories
3
Listing Agency:
REMAX Executive Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 11
Changed: Aug 31
Last Checked: Sep 1 at 4:20PM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
Built in 1940, this 3,514-square-foot duplex contains two residential units with practical layouts and distinct utility systems. Each unit includes two bedrooms and a bonus room, while the property also offers spacious kitchens with gas cooking, living and dining areas, mudrooms, separate laundry spaces, and original hardwood floors. The first floor uses FHA oil heat, and the second floor is served by oil-fired steam and radiators.
The upper residence continues through the finished third level, adding a primary bedroom, walk-in closet, full bathroom, and flexible room. Two separate driveway and parking areas, decks, and leased solar panels serving the second and third floors expand the property's functionality. The home is located at 26-28 Eureka in Fitchburg, less than 2 miles from Route 2 and the MBTA commuter rail, with RES zoning.
The upper residence continues through the finished third level, adding a primary bedroom, walk-in closet, full bathroom, and flexible room. Two separate driveway and parking areas, decks, and leased solar panels serving the second and third floors expand the property's functionality. The home is located at 26-28 Eureka in Fitchburg, less than 2 miles from Route 2 and the MBTA commuter rail, with RES zoning.
Key Highlights
- Two‑unit duplex with 3,514 square feet of total property size
- Each unit includes 2 bedrooms plus a bonus room
- Second‑floor residence extends into a finished third level
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
$47,501
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
8.80%
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%
$950,020
$950.0K
Cap Rate 7%
$678,586
$678.6K
Cap Rate 9%
$527,789
$527.8K
Market Conditions
NOI Build-Up for 3,514 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
$69.6K $19.80/SF
− Vacancy
−$1.7K −$0.49/SF
EGI
$67.9K $19.31/SF
− OpEx
−$20.4K −$5.79/SF
NOI
$47.5K $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%
$950,020
Cap Rate 7%
$678,586
Cap Rate 9%
$527,789
Alternative Uses
Best Use
Multifamily LT 5
$678.6K
$593.8K – $791.7K
NOI $47,501 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$590.6K
$516.7K – $689.0K
NOI $41,339 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,999 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
92
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 units combine flexible layouts, separate utilities, outdoor decks, and original hardwood flooring.
Where is this duplex located?
The property is located at 26-28 Eureka Fitchburg, MA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,514 square feet of total property size; Each unit includes 2 bedrooms plus a bonus room; Second‑floor residence extends into a finished third level
