Five-Family Victorian Apartment
New
For Sale
$870,000
9 Mount Vernon St, Fitchburg, MA 01420
Residential Income, Fitchburg, MA
Property Size3,688 SF
Lot Size0.14 Acres
Price / SF$235.90
Days on Market3
Property Features for 9 Mount Vernon St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
DB
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 5, Bedroom 1, Bathroom 4, Bedroom 9, Bathroom 3, Bedroom 4, Bedroom 7, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 8
Parking
7
Directions
Crescent St to Mount Vernon St
Standard status
Active
APN
1503863
Size
3,688 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8609
Amenities
off street parking
Building Details
Year built
1900
Floors in Building
4
Number of units
5
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Rochelle Jonswold
(978) 860-3609
Added: Sep 22
Last Checked: Sep 24 at 4:06PM
MLS# 73581073
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,688-square-foot apartment building contains five family units within a Victorian-era structure built in 1900. The property is fully occupied and includes separate heat and electric utilities for the residences, along with off-street parking. Its DB zoning supports the existing multifamily configuration.
The property is located at 9 Mount Vernon St in Fitchburg, Massachusetts, near the MBTA Commuter Rail, Fitchburg State University, and downtown shopping and dining. The 0.1448-acre parcel provides an established residential setting close to area transportation and services.
The property is located at 9 Mount Vernon St in Fitchburg, Massachusetts, near the MBTA Commuter Rail, Fitchburg State University, and downtown shopping and dining. The 0.1448-acre parcel provides an established residential setting close to area transportation and services.
Key Highlights
- Five‑family apartment building with 3,688 square feet
- Fully occupied residential property
- Built in 1900 with Victorian architectural character
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 - Fully occupied multifamily property with separately metered heat and electric utilities plus off-street parking.
Where is this apartment building located?
The property is located at 9 Mount Vernon St 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‑family apartment building with 3,688 square feet; Fully occupied residential property; Built in 1900 with Victorian architectural character
