5-Unit Victorian Apartment
New
For Sale
$870,000
9 Mount Vernon Street, Fitchburg, MA 01420
Separate heat and electric service, along with off-street parking, serves the building’s residential occupants.
Property Size3,688 SF
Price / SF$235.90
Days on Market6
Property Features for 9 Mount Vernon Street
General Information
Standard status
Active
Size
3,688 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
5
Amenities
off street parking
Building Details
Year Built
1900
Construction
Victorian
Listing Agency:
Keller Williams Realty North Central
Listed By:
Nicholas L. Pelletier
(978) 537-8301
Source:
Foster-healey
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 8:40AM
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 Keller Williams Realty North Central
Investment Insights
Based on property information with market context.
This 5-unit Victorian apartment property contains 3,688 square feet and dates to 1900. The building is fully occupied, with heat and electric utilities separately metered for each unit. Off-street parking is available to residents.
The property is at 9 Mount Vernon Street in Fitchburg, near the MBTA Commuter Rail, Fitchburg State University, and downtown shopping and dining.
The property is at 9 Mount Vernon Street in Fitchburg, near the MBTA Commuter Rail, Fitchburg State University, and downtown shopping and dining.
Key Highlights
- Five residential units in a Victorian‑style building
- 3,688 square feet; built in 1900
- Fully occupied
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
$43,386
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
4.99%
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%
$867,720
$867.7K
Cap Rate 7%
$619,800
$619.8K
Cap Rate 9%
$482,067
$482.1K
Market Conditions
NOI Build-Up for 3,688 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
$81.0K $21.96/SF
− Vacancy
−$2.1K −$0.57/SF
EGI
$78.9K $21.39/SF
− OpEx
−$35.5K −$9.63/SF
NOI
$43.4K $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%
$867,720
Cap Rate 7%
$619,800
Cap Rate 9%
$482,067
Alternative Uses
Best Use
Apartment 5plus
$619.8K
$542.3K – $723.1K
NOI $43,386 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,158 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,033
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Separate heat and electric service, along with off-street parking, serves the building’s residential occupants.
Where is this apartment building located?
The property is located at 9 Mount Vernon Street Fitchburg, MA.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Five residential units in a Victorian‑style building; 3,688 square feet; built in 1900; Fully occupied
