Renovated Duplex
For Sale
$770,000
88 Ashburnham Street, Fitchburg, MA 01420
Two updated units offer modern finishes, private laundry areas, and outdoor space on a corner parcel.
Property Size4,025 SF
Price / SF$191.30
Days on Market9
Property Features for 88 Ashburnham Street
General Information
Standard status
Active
Size
4,025 SF
Total Parking Spaces
10
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
fenced-in yard
dedicated laundry areas
Building Details
Year Built
1900
Listing Agency:
Realty ONE Group Nest
(413) 786-0584
Listed By:
Santos Taveras · License #452508574
(413) 584-2900
Source:
Mapleandmainrealty
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 29 at 10:02AM
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 Realty ONE Group Nest
Investment Insights
Based on property information with market context.
This two-family townhouse contains 4,025 square feet with a total of 8 bedrooms and 6 bathrooms. The two units include quartz countertops, ceramic tile backsplashes, shaker cabinetry, stainless steel appliances, and dedicated laundry areas. Energy-efficient systems, updated plumbing and electrical work, and a new sewer pipe completed in December add to the property’s improvements. Built in 1900, the building has been substantially renovated and maintained.
The property occupies a corner lot on nearly half an acre at 88 Ashburnham St in Fitchburg, near Wachusett Station. Site features include parking for 10 cars, a fenced yard, and additional exterior area for resident use and gatherings.
The property occupies a corner lot on nearly half an acre at 88 Ashburnham St in Fitchburg, near Wachusett Station. Site features include parking for 10 cars, a fenced yard, and additional exterior area for resident use and gatherings.
Key Highlights
- Two‑family townhouse totaling 4,025 square feet
- 8 bedrooms and 6 bathrooms across the property
- Parking for 10 cars on a corner lot
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
$54,409
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
7.07%
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%
$1,088,180
$1.1M
Cap Rate 7%
$777,271
$777.3K
Cap Rate 9%
$604,544
$604.5K
Market Conditions
NOI Build-Up for 4,025 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
$79.7K $19.80/SF
− Vacancy
−$2.0K −$0.49/SF
EGI
$77.7K $19.31/SF
− OpEx
−$23.3K −$5.79/SF
NOI
$54.4K $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%
$1,088,180
Cap Rate 7%
$777,271
Cap Rate 9%
$604,544
Alternative Uses
Best Use
Multifamily LT 5
$777.3K
$680.1K – $906.8K
NOI $54,409 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$676.4K
$591.9K – $789.2K
NOI $47,350 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,214 @ 7.0% cap · market cap 12.50%
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
110
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 - Two updated units offer modern finishes, private laundry areas, and outdoor space on a corner parcel.
Where is this duplex located?
The property is located at 88 Ashburnham Street Fitchburg, MA.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: Two‑family townhouse totaling 4,025 square feet; 8 bedrooms and 6 bathrooms across the property; Parking for 10 cars on a corner lot
