Two-Unit Multifamily with Private
306 Franklin Road Fitchburg, MA 01420
306 Franklin Road, Fitchburg, MA, 01420
$539,000
For Sale
$539,000
Two residential units feature separate utilities and heat, with hardwood floors, upgraded kitchens, and a covered front porch.
Property Size2,060 SF
Price / SF$261.65
Days on Market98
Property Features for 306 Franklin Road
General Information
- Standard status
- Active
- Size
- 2,060 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1920
Listing agency
Keller Williams Realty North Central
(978) 840-9000
Listed by
Kelle O'Keefe · License #9068502
(978) 840-9000
Source
Compass
Added: Apr 17 Updated: Jul 21 at 12:43AM Checked: Jul 22 at 9:38AM
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 Keller Williams Realty North Central
Investment Insights
Based on property information with market context.
This two-unit multifamily property offers two separate residences with hardwood floors in both units, French doors, built-ins, and open living layouts. Each unit includes a bright living room and a separate dining room, along with bedrooms offering ample closet space. The second-level layout includes potential for a third bedroom. Updates noted from prior ownership include refinished hardwoods, first-floor furnace, hot water tanks (2018 and 2019), shower improvements, roof replacement (2016), and a fenced yard (2021), plus lots of attic storage. A covered front farmers porch, two-car garage, and a large private backyard round out the outdoor space.
The property is described as being in a sought-after university town area and is convenient to major highways, shopping, restaurants, and the T. Showings are noted with the top unit, basement, and garage available first, while an occupied unit has interest.
Overall, the configuration is designed to support independent day-to-day use with separate utilities and heat for each unit, paired with multiple interior upgrades and substantial storage space.
The property is described as being in a sought-after university town area and is convenient to major highways, shopping, restaurants, and the T. Showings are noted with the top unit, basement, and garage available first, while an occupied unit has interest.
Overall, the configuration is designed to support independent day-to-day use with separate utilities and heat for each unit, paired with multiple interior upgrades and substantial storage space.
Key Highlights
- 2‑unit multifamily home built in 1920 with separate utilities and separate heat for each unit.
- Hardwood floors in both units, with upgraded kitchens and built‑in features.
- Full basement with interior access and a concrete floor, plus lots of attic storage.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.8k | $19.80 |
| − Vacancy | −$1.0k | −$0.49 |
| EGI | $39.8k | $19.31 |
| − OpEx | −$11.9k | −$5.79 |
| NOI | $27.8k | $13.52 |
2,060 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$397.8K
$348.1K – $464.1K
NOI $27,846 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$346.2K
$302.9K – $403.9K
NOI $24,234 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$703.5K
$615.5K – $820.7K
NOI $49,242 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two residential units feature separate utilities and heat, with hardwood floors, upgraded kitchens, and a covered front porch.
Where is this duplex located?
The property is located at 306 Franklin Road Fitchburg, MA.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: 2‑unit multifamily home built in 1920 with separate utilities and separate heat for each unit.; Hardwood floors in both units, with upgraded kitchens and built‑in features.; Full basement with interior access and a concrete floor, plus lots of attic storage.
