Two-Family Residential Income
For Sale
$599,900
58-60 Ward St, Fitchburg, MA 01420
Side-by-side duplex with two 3-bedroom units, separate utilities, natural gas heat, and in-unit washer/dryer hookups in the walk-out basement.
Property Size2,288 SF
Price / SF$262.19
Days on Market118
Property Features for 58-60 Ward St
General Information
Standard status
Active
Size
2,288 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
RB
Additional Details
Multifamily Units
2
Building Details
Building Size
2,288 SF
Year Built
1890
Stories
4
Listing Agency:
Mega Realty Services
Listed By:
Marlene Serrano · License #9540061
(617) 629-5950
Source:
Hometown-team
Added: May 13
Changed: Aug 24
Last Checked: Aug 17 at 2:55AM
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 Mega Realty Services
Investment Insights
Based on property information with market context.
58–60 Ward St presents a well maintained two-family, side-by-side residence. The property includes two spacious 3-bedroom units, each with separate utilities and natural gas heat. Each unit also benefits from washer/dryer hookups in the clean walk-out basement.
A south-facing enclosed front porch with storm screens supports year-round use. Four paved off-street parking spots are included, providing dedicated parking for residents or tenants.
The seller-owned solar panels provide quarterly energy credits, which can help offset electricity costs. The property is being sold as-is.
A south-facing enclosed front porch with storm screens supports year-round use. Four paved off-street parking spots are included, providing dedicated parking for residents or tenants.
The seller-owned solar panels provide quarterly energy credits, which can help offset electricity costs. The property is being sold as-is.
Key Highlights
- Two‑family side‑by‑side duplex built in 1890 with two spacious 3‑bedroom units
- Separate utilities for each unit, with natural gas heat in both units
- Walk‑out basement includes in‑unit washer/dryer hookup in each unit
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
$30,928
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
5.16%
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%
$618,560
$618.6K
Cap Rate 7%
$441,829
$441.8K
Cap Rate 9%
$343,644
$343.6K
Market Conditions
NOI Build-Up for 2,288 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
$45.3K $19.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$44.2K $19.31/SF
− OpEx
−$13.3K −$5.79/SF
NOI
$30.9K $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%
$618,560
Cap Rate 7%
$441,829
Cap Rate 9%
$343,644
Alternative Uses
Best Use
Multifamily LT 5
$441.8K
$386.6K – $515.5K
NOI $30,928 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$384.5K
$336.5K – $448.6K
NOI $26,916 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$781.3K
$683.7K – $911.5K
NOI $54,692 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
108
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?
Duplex - Side-by-side duplex with two 3-bedroom units, separate utilities, natural gas heat, and in-unit washer/dryer hookups in the walk-out basement.
Where is this duplex located?
The property is located at 58-60 Ward St Fitchburg, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑family side‑by‑side duplex built in 1890 with two spacious 3‑bedroom units; Separate utilities for each unit, with natural gas heat in both units; Walk‑out basement includes in‑unit washer/dryer hookup in each unit
