Victorian Triplex with
For Sale
$595,000
8 Hawes St, Fitchburg, MA 01420
Three living spaces feature hardwood floors, off-street parking, a fenced yard, and an adaptable interior arrangement.
Property Size3,308 SF
Price / SF$179.87
Days on Market36
Property Features for 8 Hawes St
General Information
Standard status
Active
Size
3,308 SF
Property subtype
3 Family
Units
Unit Mix
1 x 5BR/1BA, 1 x 1BR/1BA, 1 x studio
Multifamily Units
3
Amenities
fenced yard
Building Details
Building Size
3,308 SF
Year Built
1910
Buildings
1
Construction
Victorian
Listing Agency:
IVerty Realty, LLC
(413) 786-0584
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Jul 28
Changed: Aug 31
Last Checked: Aug 31 at 2:04PM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
Located at 8 Hawes St in Fitchburg, Massachusetts, this 3,308-square-foot triplex dates to 1910 and retains Victorian character. The current arrangement includes a five-bedroom, one-bath residence, a separate one-bedroom, one-bath apartment, and a studio. Hardwood floors and generous living areas add period detail and usable interior space.
The property also includes off-street parking and a fenced yard. The layout is described as adaptable, with a possible reconfiguration into two three-bedroom, one-bath units plus one one-bedroom, one-bath unit through relatively minor doorway modifications. No major structural changes are believed to be necessary for that proposed arrangement.
The property also includes off-street parking and a fenced yard. The layout is described as adaptable, with a possible reconfiguration into two three-bedroom, one-bath units plus one one-bedroom, one-bath unit through relatively minor doorway modifications. No major structural changes are believed to be necessary for that proposed arrangement.
Key Highlights
- Current configuration: 5‑bedroom, 1‑bath unit, separate 1‑bedroom, 1‑bath unit, and studio apartment
- 3,308 SF triplex built in 1910
- Potential layout for two 3‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath 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
$44,716
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
7.52%
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%
$894,320
$894.3K
Cap Rate 7%
$638,800
$638.8K
Cap Rate 9%
$496,844
$496.8K
Market Conditions
NOI Build-Up for 3,308 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
$65.5K $19.80/SF
− Vacancy
−$1.6K −$0.49/SF
EGI
$63.9K $19.31/SF
− OpEx
−$19.2K −$5.79/SF
NOI
$44.7K $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%
$894,320
Cap Rate 7%
$638,800
Cap Rate 9%
$496,844
Alternative Uses
Best Use
Multifamily LT 5
$638.8K
$559.0K – $745.3K
NOI $44,716 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$555.9K
$486.4K – $648.6K
NOI $38,915 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$1.13M
$988.4K – $1.32M
NOI $79,074 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
872
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three living spaces feature hardwood floors, off-street parking, a fenced yard, and an adaptable interior arrangement.
Where is this triplex located?
The property is located at 8 Hawes St Fitchburg, MA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Current configuration: 5‑bedroom, 1‑bath unit, separate 1‑bedroom, 1‑bath unit, and studio apartment; 3,308 SF triplex built in 1910; Potential layout for two 3‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
