Renovated 3-Unit
For Sale
$670,000
40 Edwards St, Fitchburg, MA 01420
Income property with updated building systems, two improved apartments, and off-street parking.
Property Size2,508 SF
Price / SF$267.15
Days on Market91
Property Features for 40 Edwards St
General Information
Standard status
Active
Size
2,508 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
RC
Net Operating Income
$64,800
Financials
Asking Price
$670,000
Gross Income
$64,800
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,472
Building Details
Building Size
2,508 SF
Year Built
1905
Stories
3
Listing Agency:
Real Broker MA, LLC
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 2:44PM
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 Real Broker MA, LLC
Investment Insights
Based on property information with market context.
This 3-unit multifamily property contains 2,508 square feet and was built in 1905. Capital improvements include new electrical service, sub-metered panels, full plumbing replacement, and updated electrical systems within the units. Two apartments have been renovated with granite countertops, contemporary cabinetry, mini-split HVAC, newer flooring, and stainless steel appliances. The exterior has also been repainted.
The property is located at 40 Edwards St in Fitchburg, Massachusetts, and is zoned RC. Off-street parking is provided, and water is paid by the owner. The asset has in-place tenancy and is configured as a three-family property.
The property is located at 40 Edwards St in Fitchburg, Massachusetts, and is zoned RC. Off-street parking is provided, and water is paid by the owner. The asset has in-place tenancy and is configured as a three-family property.
Key Highlights
- 3‑unit multifamily property with 2,508 square feet
- Built in 1905 and zoned RC
- New electrical service, sub‑metered panels, and full plumbing replacement
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
$33,902
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
5.06%
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%
$678,040
$678.0K
Cap Rate 7%
$484,314
$484.3K
Cap Rate 9%
$376,689
$376.7K
Market Conditions
NOI Build-Up for 2,508 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
$49.7K $19.80/SF
− Vacancy
−$1.2K −$0.49/SF
EGI
$48.4K $19.31/SF
− OpEx
−$14.5K −$5.79/SF
NOI
$33.9K $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%
$678,040
Cap Rate 7%
$484,314
Cap Rate 9%
$376,689
Alternative Uses
Best Use
Multifamily LT 5
$484.3K
$423.8K – $565.0K
NOI $33,902 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$421.5K
$368.8K – $491.7K
NOI $29,504 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$856.4K
$749.4K – $999.2K
NOI $59,951 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
296
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Income property with updated building systems, two improved apartments, and off-street parking.
Where is this triplex located?
The property is located at 40 Edwards St Fitchburg, MA.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: 3‑unit multifamily property with 2,508 square feet; Built in 1905 and zoned RC; New electrical service, sub‑metered panels, and full plumbing replacement
