Two-Unit Duplex with Hardwood
New
For Sale
$484,900
57 Chester St, Fitchburg, MA 01420
Each apartment has three bedrooms, remodeled kitchens and baths, and separate utilities.
Property Size3,260 SF
Price / SF$148.74
Days on Market5
Property Features for 57 Chester St
General Information
Standard status
Active
Size
3,260 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
RC
Net Operating Income
$48,900
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,640
Amenities
hardwood floors
washer/dryer hook-ups
Building Details
Building Size
3,260 SF
Year Built
1910
Buildings
1
Stories
3
Listing Agency:
LAER Realty Partners
Listed By:
Tracy Sladen
(978) 537-4971
Source:
Laerrealty
Added: Oct 11
Changed: Oct 15
Last Checked: Oct 14 at 8:23PM
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 duplex contains two apartments totaling 3,260 square feet, with three bedrooms in each unit. Kitchens and bathrooms have been remodeled, and hardwood flooring runs throughout. The apartments have separate utilities and washer-and-dryer hookups. The second-floor unit also includes additional rooms on the third floor. The property was built in 1910 and is zoned RC.
A paved driveway and additional parking areas serve the property. Commuter rail, downtown shopping and restaurants, and Route 2 are nearby.
A paved driveway and additional parking areas serve the property. Commuter rail, downtown shopping and restaurants, and Route 2 are nearby.
Key Highlights
- Two apartments, each with 3 bedrooms
- 3,260 square feet; built in 1910
- Remodeled kitchens and baths with hardwood flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,068
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$881,360
$881.4K
Cap Rate 7%
$629,543
$629.5K
Cap Rate 9%
$489,644
$489.6K
Market Conditions
NOI Build-Up for 3,260 SF
Gross rent
$64.5K $19.80/SF
− Vacancy
−$1.6K −$0.49/SF
EGI
$63.0K $19.31/SF
− OpEx
−$18.9K −$5.79/SF
NOI
$44.1K $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 Rate 5%
$881,360
Cap Rate 7%
$629,543
Cap Rate 9%
$489,644
Alternative Uses
Best Use
Multifamily LT 5
$629.5K
$550.9K – $734.5K
NOI $44,068 @ 7.0% cap · market cap 9.09%
Second Best
Apartment 5plus
$547.9K
$479.4K – $639.2K
NOI $38,351 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.11M
$974.1K – $1.30M
NOI $77,927 @ 7.0% cap · market cap 16.07%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
258
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each apartment has three bedrooms, remodeled kitchens and baths, and separate utilities.
Where is this duplex located?
The property is located at 57 Chester St Fitchburg, MA.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms; 3,260 square feet; built in 1910; Remodeled kitchens and baths with hardwood flooring throughout
