Vacant Two-Family
For Sale
$559,900
8 Jay St, Fitchburg, MA 01420
Delivered vacant with separate meters, updated systems, and off-street parking.
Property Size2,757 SF
Price / SF$203.08
Days on Market55
Property Features for 8 Jay St
General Information
Standard status
Active
Size
2,757 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
RB
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 5BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,828
Building Details
Building Size
2,757 SF
Year Built
1900
Year Renovated
2022
Stories
3
Listing Agency:
REMAX Andrew Realty Services
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jul 8
Changed: Aug 31
Last Checked: Aug 31 at 2:30PM
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 REMAX Andrew Realty Services
Investment Insights
Based on property information with market context.
This 2,757-square-foot duplex at 8 Jay St in Fitchburg, Massachusetts, offers a two-unit layout with both residences delivered vacant at closing. The first unit includes 3 bedrooms and 1 bathroom, while the bi-level second unit has 5 bedrooms and 2 bathrooms. Refinished hardwood floors, new kitchens, and updated bathrooms serve both units.
The property received 2022 improvements including a newer roof, updated forced-air HVAC systems, and electrical upgrades. Separate meters support independent utility measurement. Four off-street parking spaces are included, along with a full walk-out basement featuring washer/dryer hookups and dual egresses. Future basement finishing is subject to permitting and approvals. The property is near downtown Fitchburg and Fitchburg State University, with access to Route 2, I-190, and the MBTA T-Station serving Boston.
The property received 2022 improvements including a newer roof, updated forced-air HVAC systems, and electrical upgrades. Separate meters support independent utility measurement. Four off-street parking spaces are included, along with a full walk-out basement featuring washer/dryer hookups and dual egresses. Future basement finishing is subject to permitting and approvals. The property is near downtown Fitchburg and Fitchburg State University, with access to Route 2, I-190, and the MBTA T-Station serving Boston.
Key Highlights
- 2,757‑square‑foot duplex with 3‑bedroom and 5‑bedroom units
- Unit 1 has 3 bedrooms and 1 bathroom; Unit 2 is a bi‑level 5‑bedroom, 2‑bathroom suite
- 2022 improvements include a newer roof, updated forced‑air HVAC, and updated electrical
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
$37,268
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
6.66%
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%
$745,360
$745.4K
Cap Rate 7%
$532,400
$532.4K
Cap Rate 9%
$414,089
$414.1K
Market Conditions
NOI Build-Up for 2,757 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
$54.6K $19.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$53.2K $19.31/SF
− OpEx
−$16.0K −$5.79/SF
NOI
$37.3K $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%
$745,360
Cap Rate 7%
$532,400
Cap Rate 9%
$414,089
Alternative Uses
Best Use
Multifamily LT 5
$532.4K
$465.9K – $621.1K
NOI $37,268 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$463.3K
$405.4K – $540.6K
NOI $32,433 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$941.5K
$823.8K – $1.10M
NOI $65,903 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
861
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?
Duplex - Delivered vacant with separate meters, updated systems, and off-street parking.
Where is this duplex located?
The property is located at 8 Jay St Fitchburg, MA.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: 2,757‑square‑foot duplex with 3‑bedroom and 5‑bedroom units; Unit 1 has 3 bedrooms and 1 bathroom; Unit 2 is a bi‑level 5‑bedroom, 2‑bathroom suite; 2022 improvements include a newer roof, updated forced‑air HVAC, and updated electrical
