Fitchburg Triplex with City
For Sale
$675,000
Pending
29 Mt. Vernon, Fitchburg, MA 01420
Well-maintained three-family home with city views and income potential.
Property Size3,336 SF
Lot Size0.14 Acres
Days on Market267
Property Features for 29 Mt. Vernon
General Information
Standard status
Pending
Size
3,336 SF
Lot size
0.14 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,260
Building Details
Building Size
3,336 SF
Year Built
1900
Stories
5
Units
3
Listing Agency:
The Hive Real Estate LLC
(860) 786-2854
Listed By:
Marco Epifani · License #RES.0811575
(860) 786-2854
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 21
Last Checked: Aug 20 at 7:36AM
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 The Hive Real Estate LLC
Investment Insights
Based on property information with market context.
Located in Fitchburg, this three-family home offers city views. The property features two 2-bedroom units and one 5-bedroom unit. The property is suitable for owner-occupants or investors seeking rental income. Each unit is in good condition, with updated features and natural light. Off-street parking is available. The property provides access to local amenities.
Key Highlights
- Breathtaking city views
- House hacking opportunity with three units
- Strong rental income potential
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
$45,095
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
6.68%
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%
$901,900
$901.9K
Cap Rate 7%
$644,214
$644.2K
Cap Rate 9%
$501,056
$501.1K
Market Conditions
NOI Build-Up for 3,336 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
$66.1K $19.80/SF
− Vacancy
−$1.6K −$0.49/SF
EGI
$64.4K $19.31/SF
− OpEx
−$19.3K −$5.79/SF
NOI
$45.1K $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%
$901,900
Cap Rate 7%
$644,214
Cap Rate 9%
$501,056
Alternative Uses
Best Use
Multifamily LT 5
$644.2K
$563.7K – $751.6K
NOI $45,095 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$560.6K
$490.6K – $654.1K
NOI $39,245 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$1.14M
$996.8K – $1.33M
NOI $79,744 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,007
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?
Triplex - Well-maintained three-family home with city views and income potential.
Where is this triplex located?
The property is located at 29 Mt. Vernon Fitchburg, MA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Breathtaking city views; House hacking opportunity with three units; Strong rental income potential
