Updated Two-Unit
For Sale
$425,000
61 Central Street, Fitchburg, MA 01420
Two residential units feature refreshed kitchens and bathrooms, hardwood floors, fireplaces, and parking in a detached garage.
Property Size1,692 SF
Price / SF$251.18
Days on Market18
Property Features for 61 Central Street
General Information
Standard status
Active
Size
1,692 SF
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
hardwood floors
fireplaces
deck
laundry
Building Details
Year Built
1830
Buildings
1
Listing Agency:
Lamacchia Realty,Inc.
Listed By:
Cyndi Deshaies
(617) 661-6600
Source:
Cambridgerealty
Added: Aug 16
Changed: Aug 31
Last Checked: Aug 31 at 7:47PM
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 Lamacchia Realty,Inc.
Investment Insights
Based on property information with market context.
This 1,692-square-foot duplex, built in 1830, contains two two-bedroom apartments with distinct living areas. The lower residence includes a defined entry, living and dining rooms, 1.5 bathrooms, and a kitchen with granite counters and updated appliances. The upper apartment adds a deck, living room, eat-in kitchen with island and storage, window seat, and an updated full bathroom.
Property features include hardwood flooring, fireplaces, a partial walk-out basement with laundry, and a detached two-car garage. Driveway parking accommodates both units. Recent work includes the roof, water heater, bathrooms, upper-level kitchen, appliances, furnace, and insulation following a Mass Save audit.
The property is in downtown Fitchburg, near dining, shopping, Fitchburg State University, and commuter rail service to Boston.
Property features include hardwood flooring, fireplaces, a partial walk-out basement with laundry, and a detached two-car garage. Driveway parking accommodates both units. Recent work includes the roof, water heater, bathrooms, upper-level kitchen, appliances, furnace, and insulation following a Mass Save audit.
The property is in downtown Fitchburg, near dining, shopping, Fitchburg State University, and commuter rail service to Boston.
Key Highlights
- Two‑bedroom lower and upper apartments
- 1,692 square feet; built in 1830
- Detached two‑car garage with driveway parking for both units
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
$22,872
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
5.38%
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%
$457,440
$457.4K
Cap Rate 7%
$326,743
$326.7K
Cap Rate 9%
$254,133
$254.1K
Market Conditions
NOI Build-Up for 1,692 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
$33.5K $19.80/SF
− Vacancy
−$827 −$0.49/SF
EGI
$32.7K $19.31/SF
− OpEx
−$9.8K −$5.79/SF
NOI
$22.9K $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%
$457,440
Cap Rate 7%
$326,743
Cap Rate 9%
$254,133
Alternative Uses
Best Use
Multifamily LT 5
$326.7K
$285.9K – $381.2K
NOI $22,872 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$284.4K
$248.8K – $331.8K
NOI $19,905 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$577.8K
$505.6K – $674.1K
NOI $40,446 @ 7.0% cap · market cap 9.52%
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
813
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 - Two residential units feature refreshed kitchens and bathrooms, hardwood floors, fireplaces, and parking in a detached garage.
Where is this duplex located?
The property is located at 61 Central Street Fitchburg, MA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑bedroom lower and upper apartments; 1,692 square feet; built in 1830; Detached two‑car garage with driveway parking for both units
