Two-Family Duplex
For Sale
$680,000
103 Dalton Street, Lowell, MA 01850
Residential Income, Lowell, MA
Property Size3,497 SF
Lot Size0.07 Acres
Price / SF$194.45
Days on Market108
Property Features for 103 Dalton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
TTF
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 5
Directions
GPS
Standard status
Active
APN
3186768
Size
3,497 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7845
Amenities
separate utilities
hardwood floors
fenced yard
Building Details
Year built
1920
Floors in Building
3
Number of units
2
Listing Agency:
RE/MAX Partners · RE/MAX International
Listed By:
Thomas Carroll
(978) 475-2100
Added: Jun 18
Changed: Oct 3
Last Checked: Oct 3 at 9:06AM
MLS# 73538388
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 1920 two-family duplex includes separate utilities, hardwood flooring, and a fenced yard on a 0.07-acre lot. The first residence provides two-level living with three bedrooms and one and a half baths. The second includes two bedrooms, with an additional room that may serve as a third bedroom or office.
The property is near UMass Lowell and the Merrimack River. One unit is scheduled for vacant delivery, while the other is occupied under a month-to-month arrangement. TTF zoning is reported for the property.
The property is near UMass Lowell and the Merrimack River. One unit is scheduled for vacant delivery, while the other is occupied under a month-to-month arrangement. TTF zoning is reported for the property.
Key Highlights
- Two‑family duplex built in 1920
- First unit offers 3 bedrooms, 1.5 baths, and two‑level living
- Second unit includes 2 bedrooms plus a potential third bedroom or office
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
$62,381
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
9.17%
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%
$1,247,620
$1.2M
Cap Rate 7%
$891,157
$891.2K
Cap Rate 9%
$693,122
$693.1K
Market Conditions
NOI Build-Up for 3,497 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
$121.7K $34.80/SF
− Vacancy
−$8.3K −$2.37/SF
EGI
$113.4K $32.43/SF
− OpEx
−$51.0K −$14.60/SF
NOI
$62.4K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /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%
$1,247,620
Cap Rate 7%
$891,157
Cap Rate 9%
$693,122
Alternative Uses
Best Use
Multifamily LT 5
$989.8K
$866.1K – $1.15M
NOI $69,288 @ 7.0% cap · market cap 10.19%
Second Best
Apartment 5plus
$891.2K
$779.8K – $1.04M
NOI $62,381 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,157 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Explore this area
Business Placement
Demographics for 01850, MA
16,670
Population
6,028
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
1.4 sq mi
ZIP Area
11,907
Density / Sq Mi
$67,581
Median Household Income
$42,096
Median Earnings
$1,666
Median Rent
$367,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residence with separate utilities, hardwood floors, and a fenced outdoor area near UMass Lowell and the Merrimack River.
Where is this duplex located?
The property is located at 103 Dalton Street Lowell, MA.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: Two‑family duplex built in 1920; First unit offers 3 bedrooms, 1.5 baths, and two‑level living; Second unit includes 2 bedrooms plus a potential third bedroom or office
