
1220 Water Street Fitchburg — Photo 1 of 14
Recent Drop: $5,000
$364,900
Investment Analysis — 1220 Water Street
Fitchburg, MA 01420
Based on HUD Small Area Fair Market Rent for Fitchburg-Leominster, MA HUD Metro FMR Area, a 4-bedroom in 01420 carries an estimated $2,500/mo in gross rent — about a 5.29% cap rate and $19,309/yr in estimated NOI at the $364,900 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
1
SqFt
1,195
Style
Single Family
Built
1880
Nicely updated during the current ownership, this inviting 4-bedroom Colonial offers modern updates, a versatile floor plan and plenty of space to make your own! The kitchen features NEW Acadia White cabinetry, stainless-steel electric range, dishwasher,microwave, modern fixtures, Cementino Gray tile flooring, plenty of storage and counter space. The main level offers a large living room with new Edward Oak luxury vinyl plank flooring & recessed lighting, plus a spacious first-floor bedroom with new carpeting. The upgraded full bathroom features a 30-inch oak vanity, Cementino Gray tile flooring, an elongated toilet, a beautifully tiled Bianco Dolomite tub & shower surround.Upstairs, you’ll find two additional bedrooms with new carpeting, along with a separate bonus room that would make a great home office, nursery, or creative space. Additional improvements include all-new windows, interior/ exterior doors, & new white vinyl siding accented by black board-and-batten details. The previous owner replaced the roof, porch in 2022 & upgraded the electrical service. Relax on the welcoming farmer’s porch with your morning coffee, or step outside and enjoy the paved Twin Cities Rail Trail, which abuts the backyard and offers convenient access for walking, running, biking and other outdoor activities.Conveniently located near major highways, shopping and the MBTA commuter rail. This move-in-ready home combines modern improvements with everyday convenience. Invest in yourself through homeownership and start your next chapter today!
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 598 sq ft (the lesser of 900 sq ft or half the 1,195 sq ft principal dwelling). Lot size: 5,859 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Range • Dishwasher
Neighborhood
Public Transportation • Shopping • Pool • Park • Walk/Jog Trails • Golf
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstFlooring - Vinyl, Exterior Access, Open Floorplan, Recessed Lighting
Dining Room
Lvl FirstKitchen
Lvl FirstFlooring - Laminate, Countertops - Upgraded, Cabinets - Upgraded, Exterior Access
Office
Lvl SecondFlooring - Wall to Wall Carpet
Primary Bedroom
Lvl FirstFlooring - Wall to Wall Carpet
Bedroom 2
Lvl SecondBedroom 3
Lvl SecondFlooring - Wall to Wall Carpet
Bedroom 4
Lvl SecondFlooring - Wall to Wall Carpet
Property History
$364,900
Was $369,900
Sep 6, 2026
MLS® 73567405
$369,900
Aug 24, 2026
MLS® 73567405
$231,000
May 10, 2025
MLS® 73352472
$219,900
Mar 31, 2025
MLS® 73352472
$219,900
Feb 15, 2025
MLS® 73279003
$219,900
Aug 17, 2024
MLS® 73279003
Listing Agent: Kelle O'Keefe
Listing Office: Keller Williams Realty North Central
MLS® Number: 73567405