Residential Income
For Sale
$570,000
Pending
58-60 Ward St, Fitchburg, MA 01420
RB-zoned residential income property with a gas water heater and full interior feature designation.
Property Size2,288 SF
Days on Market87
Property Features for 58-60 Ward St
General Information
Standard status
Pending
Size
2,288 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
RB
Net Operating Income
$46,800
Taxes and HOA fees
Annual Taxes
$5,335
Amenities
Zoned
Full
Gas Water Heater
Building Details
Building Size
2,288 SF
Year Built
1890
Stories
4
Listing Agency:
(508) 723-2463
Listed By:
Marlene Serrano
(508) 723-2463
Source:
Evrealestate
Added: May 18
Changed: Aug 11
Last Checked: Aug 12 at 5:15AM
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 Marlene Serrano
Investment Insights
Based on property information with market context.
This residential income property is located at 58-60 Ward St in Fitchburg, Massachusetts. The property has a listed size of 2,288 and dates to 1890. Interior information includes a gas water heater, along with full and zoned feature designations. The property is situated in Worcester County and carries RB zoning.
Key Highlights
- Residential income property at 58‑60 Ward St, Fitchburg, MA 01420
- Listed property size of 2,288
- RB zoning designation
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
$26,916
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
4.72%
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%
$538,320
$538.3K
Cap Rate 7%
$384,514
$384.5K
Cap Rate 9%
$299,067
$299.1K
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
$50.2K $21.96/SF
− Vacancy
−$1.3K −$0.57/SF
EGI
$48.9K $21.39/SF
− OpEx
−$22.0K −$9.63/SF
NOI
$26.9K $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 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%
$538,320
Cap Rate 7%
$384,514
Cap Rate 9%
$299,067
Alternative Uses
Best Use
Apartment 5plus
$384.5K
$336.5K – $448.6K
NOI $26,916 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$781.3K
$683.7K – $911.5K
NOI $54,692 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - RB-zoned residential income property with a gas water heater and full interior feature designation.
Where is this residential income property located?
The property is located at 58-60 Ward St Fitchburg, MA.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Residential income property at 58‑60 Ward St, Fitchburg, MA 01420; Listed property size of 2,288; RB zoning designation
