Description
PRICE REDUCED TO $525,000! - 3-FAMILY INVESTMENT WITH ROOM TO GROW-Now offered at $525,000! Here is the opportunity investors and owner-occupants have been waiting for in revitalizing Fitchburg, Massachusetts.142 Madison Street is a 3-family, 3-story property with three spacious 3-bedroom units, making it an excellent choice for an investor looking to build rental income or an owner-occupant who wants to have tenants help pay the mortgage.The property does need some **TLC**, but that is where the opportunity begins. With an estimated after-repair value of approximately $640,000, a new owner has the chance to improve the property, increase its value, and build equity over time. The vacant unit creates a great house-hacking opportunity. Live in one unit while the rental income from the other units helps offset your housing costs. An investor can also take advantage of the rental demand in this area and improve the units over time. Fitchburg continues to see new investment, redevelopment, and revitalization, making location an important part of this opportunity. The property is convenient to Fitchburg State University, shopping, schools, medical services, restaurants, Route 2, and public transportation. The Fitchburg MBTA station provides commuter rail service toward Boston, adding another benefit for renters and commuters.This is not a property where you are paying top dollar for a fully renovated building. You are buying the opportunity to create value. The building itself is solid, but still needs updating and some repairs.The price has been significantly reduced to $525,000. Bring your ideas, your contractor, and your numbers-and see what you can create here.Buyer and buyer's agent to verify all information, including rental potential, expenses, zoning, permitted use, building condition, and estimated after-repair value.
Details
| MLS # | 73551957 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1920 |
| Days On Site | 81 |
| Listing Provided By | R. D. Ledogar Real Estate | Rosemarie Ledogar |
Features
| Bed(s) | 9 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 3,591 |
| Basement | Y |
| Story(s) | 3 |
| Units | 3 |
| Zoning | RC |
| Acreage | 0.16 |
| Golf Course | Yes |
Interior
| Rooms Total | 18 |
|---|---|
| Cooling Yes / No | No |
| Cooling | None |
| Heating Yes / No | Yes |
| Heating | Central, Individual |
| Interior Features | Bathroom With Tub, Living Room, Kitchen |
| Window Features | Insulated Windows, Storm Window(s) |
| Appliances | Refrigerator, Range |
| Fireplaces Total | 0 |
| Fireplace Yes / No | No |
| Flooring | Wood, Vinyl |
Exterior
| Exterior Features | Garden |
|---|---|
| Roof | Tar/Gravel |
| Construction Materials | Frame |
| Foundation Details | Concrete Perimeter, Stone |
| Fencing | Fenced/Enclosed, Fenced |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Paved Drive, Off Street, Tandem, Paved |
| Open Parking Yes / No | Yes |
Utilities
| Utilities | for Gas Range, for Gas Oven, for Electric Dryer, Washer Hookup |
|---|---|
| Sewer | Public Sewer |
| Electric | 110 Volts, Circuit Breakers, Individually Metered, Knob & Tube Wiring |
Taxes
| Tax Annual Amount | 6220 |
|---|---|
| Tax Assessed Value | 460400 |
| Tax Year | 2025 |
Location
| Community Features | Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Medical Facility, Laundromat, Conservation Area, Highway Access, House of Worship, Private School, Public School, T-Station, University, Sidewalks |
|---|---|
| Senior Community Yes / No | No |
Area Information
| State | MA |
|---|---|
| County | Worcester |
| City | Fitchburg |
| Zip Code | 01420 |
| Area | Fitchburg |
| Listing VS Median (in 01420) | |
Price: $525,000 low | high Med: $405,000 sqft: 3,591 low | high Med: 2,040 $ / sqft: $146 low | high Med: $199 On site: 81 low | high Med: 23 | |
Market Activity 01420
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Learn More About This Property
| State | MA |
|---|---|
| County | Worcester |
| City | Fitchburg |
| Zip Code | 01420 |
| Area | Fitchburg |
| Listing VS Median (in 01420) | |
Price: $525,000 low | high Med: $405,000 sqft: 3,591 low | high Med: 2,040 $ / sqft: $146 low | high Med: $199 On site: 81 low | high Med: 23 | |
