Building Details

Year Built 1900

Buildings 1

Stories 2

Listing Agency: Denise Blais, Re/Max Prof Associates

Listed By: David Sampson Group Show Phone

Source: Sampsonrealtygroup

Added: Sep 18 Changed: Oct 16 Last Checked: Oct 16 at 9:11AM

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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 Denise Blais, Re/Max Prof Associates

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Investment Insights

Based on property information with market context.

Built in 1900, this two-story multifamily property at 564 Fairmount St comprises 1,509 square feet and includes three bedrooms. Hardwood flooring extends through the living room and bedrooms, creating consistent interior finishes. A basement adds functional utility, while the exterior includes a two-car garage for secure parking.

The property is located in Fitchburg, Massachusetts, with the address identifying it as 564 Fairmount St, Fitchburg, MA 01420. Its existing bedroom layout, living area, basement, and garage provide a defined residential configuration within the multifamily property classification.

Key Highlights

• 1,509 square feet of living space
• Built in 1900
• Three‑bedroom layout with hardwood flooring in the living room and bedrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,752

Cap Rate

4.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$355,040 $355.0K

Cap Rate 7%

$253,600 $253.6K

Cap Rate 9%

$197,244 $197.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,509 SF

Gross rent

$33.1K $21.96/SF

− Vacancy

−$862 −$0.57/SF

EGI

$32.3K $21.39/SF

− OpEx

−$14.5K −$9.63/SF

NOI

$17.8K $11.76/SF

Area

Worcester County, MA

Vacancy

2.60%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$355,040

Cap Rate 7%

$253,600

Cap Rate 9%

$197,244

Alternative Uses

Best Use

Apartment 5plus

$253.6K

$221.9K – $295.9K (±1% cap)

NOI $17,752 @ 7.0% cap · market cap 4.29%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$515.3K

$450.9K – $601.2K (±1% cap)

NOI $36,071 @ 7.0% cap · market cap 8.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Restaurant Hair Salon Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

160

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Three-bedroom property with hardwood flooring, basement storage, and a detached two-car garage.

Where is this multifamily property located?

The property is located at 564 Fairmount St Fitchburg, MA.

What is the asking price?

The asking price for this property is $414,000.

What are key features of this property?

This property features: 1,509 square feet of living space; Built in 1900; Three‑bedroom layout with hardwood flooring in the living room and bedrooms