Updated Two-Unit Multifamily
For Sale
$354,900
Marshall St, Fitchburg, MA 01420
Two updated units with separate heat and electric, full basement, and off-street parking, delivered vacant at closing.
Property Size1,336 SF
Price / SF$265.64
Days on Market104
Property Features for Marshall St
General Information
Standard status
Active
Size
1,336 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Realty - Leominster
(978) 840-4014
Listed By:
Michael Beaudoin · License #449518860
(978) 660-9795
Source:
Lockandkeyre
Added: May 27
Changed: Sep 6
Last Checked: Sep 7 at 8:00AM
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 Coldwell Banker Realty - Leominster
Investment Insights
Based on property information with market context.
This nicely updated two-unit multifamily home offers two separate living units with eat-in kitchens, living rooms, bedrooms, and full bathrooms. Unit 1 includes a newer eat-in kitchen, laundry hookups, newer hardwood floors, fresh paint, updated light fixtures, and a pantry. The top-floor unit features an eat-in kitchen, living room, bedroom, and full bath, with two means of egress, along with fresh paint and new flooring and lighting.
The property has separate heat and electric for the units, with the landlord covering hot water and city sewer/water. Additional features include a full basement and a newer roof, plus off-street parking alongside available on-street parking. Both units are scheduled to be delivered vacant at closing.
The property has separate heat and electric for the units, with the landlord covering hot water and city sewer/water. Additional features include a full basement and a newer roof, plus off-street parking alongside available on-street parking. Both units are scheduled to be delivered vacant at closing.
Key Highlights
- Two‑unit multi‑family home with both units delivered vacant at closing
- Unit 1: newer eat‑in kitchen, full bath, laundry hookups, pantry, new hardwood floors, fresh paint, and updated light fixtures
- Top‑floor unit: eat‑in kitchen, full bath, two means of egress, fresh paint, and new flooring and lighting
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
$18,060
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
5.09%
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%
$361,200
$361.2K
Cap Rate 7%
$258,000
$258.0K
Cap Rate 9%
$200,667
$200.7K
Market Conditions
NOI Build-Up for 1,336 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
$26.5K $19.80/SF
− Vacancy
−$653 −$0.49/SF
EGI
$25.8K $19.31/SF
− OpEx
−$7.7K −$5.79/SF
NOI
$18.1K $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%
$361,200
Cap Rate 7%
$258,000
Cap Rate 9%
$200,667
Alternative Uses
Best Use
Multifamily LT 5
$258.0K
$225.8K – $301.0K
NOI $18,060 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$224.5K
$196.5K – $262.0K
NOI $15,717 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$456.2K
$399.2K – $532.3K
NOI $31,936 @ 7.0% cap · market cap 9.00%
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
787
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 with separate heat and electric, full basement, and off-street parking, delivered vacant at closing.
Where is this duplex located?
The property is located at Marshall St Fitchburg, MA.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: Two‑unit multi‑family home with both units delivered vacant at closing; Unit 1: newer eat‑in kitchen, full bath, laundry hookups, pantry, new hardwood floors, fresh paint, and updated light fixtures; Top‑floor unit: eat‑in kitchen, full bath, two means of egress, fresh paint, and new flooring and lighting
