Triplex with Two-Level
New
For Sale
$524,900
282 Charles St, Fitchburg, MA 01420
Residential Income, Fitchburg, MA
Property Size2,196 SF
Lot Size0.11 Acres
Price / SF$239.03
Days on Market3
Property Features for 282 Charles St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 1
Parking
5
Directions
Rollstone St to Charles St
Standard status
Active
APN
1505231
Size
2,196 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6840
Amenities
fenced backyard
Building Details
Year built
1897
Floors in Building
4
Number of units
3
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Rochelle Jonswold
(978) 860-3609
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 3 at 2:06AM
MLS# 73585512
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 2,196-square-foot triplex contains three apartments: two one-bedroom units and a four-bedroom apartment arranged across two levels. Built in 1897, the property also has separate gas and electric service, off-street parking, and a fenced backyard. The lot measures 0.1141 acres, and the zoning designation is RB.
The property is on Charles Street in Fitchburg, within reach of Fitchburg Rock Walk, downtown amenities, and the MBTA Commuter Rail. Its residential setting places the three-unit property among neighborhood homes.
The property is on Charles Street in Fitchburg, within reach of Fitchburg Rock Walk, downtown amenities, and the MBTA Commuter Rail. Its residential setting places the three-unit property among neighborhood homes.
Key Highlights
- Three apartments: two one‑bedroom units and one four‑bedroom, two‑level apartment
- 2,196 square feet on a 0.1141‑acre lot
- Built in 1897
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
$29,685
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
5.66%
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%
$593,700
$593.7K
Cap Rate 7%
$424,071
$424.1K
Cap Rate 9%
$329,833
$329.8K
Market Conditions
NOI Build-Up for 2,196 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
$43.5K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$42.4K $19.31/SF
− OpEx
−$12.7K −$5.79/SF
NOI
$29.7K $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%
$593,700
Cap Rate 7%
$424,071
Cap Rate 9%
$329,833
Alternative Uses
Best Use
Multifamily LT 5
$424.1K
$371.1K – $494.8K
NOI $29,685 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$369.1K
$322.9K – $430.6K
NOI $25,834 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$749.9K
$656.2K – $874.9K
NOI $52,493 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
728
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
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Frequently Asked Questions
What type of property is this?
Triplex - The three-unit layout combines two one-bedroom apartments with a larger four-bedroom residence.
Where is this triplex located?
The property is located at 282 Charles St Fitchburg, MA.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Three apartments: two one‑bedroom units and one four‑bedroom, two‑level apartment; 2,196 square feet on a 0.1141‑acre lot; Built in 1897
