Duplex with Enclosed
For Sale
$614,900
3 Atlantic Avenue, Fitchburg, MA 01420
Two spacious apartments offer matching bedroom and bath layouts, separate utilities, basement laundry, and durable interior finishes.
Property Size3,052 SF
Price / SF$201.47
Days on Market141
Property Features for 3 Atlantic Avenue
General Information
Standard status
Active
Size
3,052 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
RB
Net Operating Income
$14,400
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,440
Amenities
laundry in basement
Building Details
Building Size
3,052 SF
Year Built
1950
Buildings
1
Stories
2
Listing Agency:
Sagan Harborside Sotheby's International Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 14
Changed: Aug 30
Last Checked: Aug 31 at 12:58PM
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 Sagan Harborside Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 1950, this duplex contains two apartments with a combined 3052 square feet. Each unit includes three bedrooms, one bathroom, a large kitchen, an enclosed porch, and hardwood flooring. Laundry is located in the basement, and the apartments have separate utilities.
The first-floor unit is equipped with a brand-new natural gas furnace. The second floor has leased solar panels and is scheduled to be vacant at closing. The property also features a 50-year shingle roof backed by a 40-year transferable warranty. RB zoning and proximity to downtown, shopping, and restaurants add practical context for an owner-occupant or residential income buyer.
The first-floor unit is equipped with a brand-new natural gas furnace. The second floor has leased solar panels and is scheduled to be vacant at closing. The property also features a 50-year shingle roof backed by a 40-year transferable warranty. RB zoning and proximity to downtown, shopping, and restaurants add practical context for an owner-occupant or residential income buyer.
Key Highlights
- Two‑family property with 3,052 SF
- Each unit includes 3 bedrooms and 1 bathroom
- Enclosed porches, large kitchens, hardwood floors, and basement laundry
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
$41,256
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
6.71%
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%
$825,120
$825.1K
Cap Rate 7%
$589,371
$589.4K
Cap Rate 9%
$458,400
$458.4K
Market Conditions
NOI Build-Up for 3,052 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
$60.4K $19.80/SF
− Vacancy
−$1.5K −$0.49/SF
EGI
$58.9K $19.31/SF
− OpEx
−$17.7K −$5.79/SF
NOI
$41.3K $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%
$825,120
Cap Rate 7%
$589,371
Cap Rate 9%
$458,400
Alternative Uses
Best Use
Multifamily LT 5
$589.4K
$515.7K – $687.6K
NOI $41,256 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$512.9K
$448.8K – $598.4K
NOI $35,904 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$1.04M
$911.9K – $1.22M
NOI $72,955 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
889
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 spacious apartments offer matching bedroom and bath layouts, separate utilities, basement laundry, and durable interior finishes.
Where is this duplex located?
The property is located at 3 Atlantic Avenue Fitchburg, MA.
What is the asking price?
The asking price for this property is $614,900.
What are key features of this property?
This property features: Two‑family property with 3,052 SF; Each unit includes 3 bedrooms and 1 bathroom; Enclosed porches, large kitchens, hardwood floors, and basement laundry
