Duplex with Mansard
For Sale
$428,000
Pending
40 Orange Street, Fitchburg, MA 01420
Two units include separate kitchens, pantries, laundry hookups, bedrooms, and full baths.
Property Size2,312 SF
Days on Market133
Property Features for 40 Orange Street
General Information
Standard status
Pending
Size
2,312 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
RB
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,922
Amenities
fenced private patio
Building Details
Building Size
2,312 SF
Year Built
1895
Buildings
1
Stories
2
Units
2
Listing Agency:
LAER Realty Partners
(978) 621-3168
Listed By:
Brenda Albert
(978) 621-3168
Source:
Aucoinryanrealty
Added: Apr 22
Changed: Aug 29
Last Checked: Apr 24 at 6:15AM
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 LAER Realty Partners
Investment Insights
Based on property information with market context.
This two-family property contains 2,312 square feet within a building constructed in 1895. The first-floor residence has 2 bedrooms, while the second-floor residence has 3 bedrooms; each unit includes a kitchen, pantry, laundry hookups, a spacious primary bedroom, and a full bath. A 7-year-old Mansard roof and fenced private patio are additional physical features.
The property is minutes from Fitchburg State University and within walking distance of the MBTA train, providing access to nearby campus and commuter transportation. Its two-unit layout supports separate household accommodations, with distinct living spaces and core amenities for each residence.
The property is minutes from Fitchburg State University and within walking distance of the MBTA train, providing access to nearby campus and commuter transportation. Its two-unit layout supports separate household accommodations, with distinct living spaces and core amenities for each residence.
Key Highlights
- 2,312‑square‑foot two‑family property built in 1895
- First‑floor unit has 2 bedrooms; second‑floor unit has 3 bedrooms
- Each unit includes a kitchen, pantry, laundry hookups, and full bath
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
$31,253
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
7.30%
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%
$625,060
$625.1K
Cap Rate 7%
$446,471
$446.5K
Cap Rate 9%
$347,256
$347.3K
Market Conditions
NOI Build-Up for 2,312 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
$45.8K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$44.6K $19.31/SF
− OpEx
−$13.4K −$5.79/SF
NOI
$31.3K $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%
$625,060
Cap Rate 7%
$446,471
Cap Rate 9%
$347,256
Alternative Uses
Best Use
Multifamily LT 5
$446.5K
$390.7K – $520.9K
NOI $31,253 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$388.5K
$340.0K – $453.3K
NOI $27,198 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$789.5K
$690.8K – $921.1K
NOI $55,266 @ 7.0% cap · market cap 12.91%
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
868
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 units include separate kitchens, pantries, laundry hookups, bedrooms, and full baths.
Where is this duplex located?
The property is located at 40 Orange Street Fitchburg, MA.
What is the asking price?
The asking price for this property is $428,000.
What are key features of this property?
This property features: 2,312‑square‑foot two‑family property built in 1895; First‑floor unit has 2 bedrooms; second‑floor unit has 3 bedrooms; Each unit includes a kitchen, pantry, laundry hookups, and full bath
