Triplex with Updated
For Sale
$799,900
1 Dublin St, Lowell, MA 01854
Three-unit residential income property near downtown and U-Mass Lowell, with lead certificates in hand.
Property Size3,455 SF
Price / SF$231.52
Days on Market43
Property Features for 1 Dublin St
General Information
Standard status
Active
Size
3,455 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 5BR, 1 x 2BR
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
RE/MAX Innovative Properties
(603) 434-4101
Listed By:
Raymond Boutin · License #D0001895
Source:
Westcottproperties
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 29 at 6:22AM
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 RE/MAX Innovative Properties
Investment Insights
Based on property information with market context.
Built in 1900, this triplex contains two five-bedroom apartments and one two-bedroom apartment, creating a varied unit mix within a single residential income property. Long-term tenants are in place, and lead certificates are available for the property.
The roof is less than five years old, while many windows have been replaced. The property is located at 1 Dublin St in Lowell, near downtown and U-Mass Lowell, providing an established urban setting for a three-unit asset. The building contains 3,455 square feet and offers a combination of updated exterior components and existing rental occupancy.
The roof is less than five years old, while many windows have been replaced. The property is located at 1 Dublin St in Lowell, near downtown and U-Mass Lowell, providing an established urban setting for a three-unit asset. The building contains 3,455 square feet and offers a combination of updated exterior components and existing rental occupancy.
Key Highlights
- Two 5‑bedroom units and one 2‑bedroom unit
- 3,455‑square‑foot triplex built in 1900
- Long‑term tenants in place
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
$68,456
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
8.56%
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%
$1,369,120
$1.4M
Cap Rate 7%
$977,943
$977.9K
Cap Rate 9%
$760,622
$760.6K
Market Conditions
NOI Build-Up for 3,455 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
$105.7K $30.60/SF
− Vacancy
−$7.9K −$2.30/SF
EGI
$97.8K $28.31/SF
− OpEx
−$29.3K −$8.49/SF
NOI
$68.5K $19.81/SF
Area
Lowell, MA
Vacancy
7.50%
Lease Rate
$30.60 /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%
$1,369,120
Cap Rate 7%
$977,943
Cap Rate 9%
$760,622
Alternative Uses
Best Use
Multifamily LT 5
$977.9K
$855.7K – $1.14M
NOI $68,456 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$880.5K
$770.4K – $1.03M
NOI $61,632 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,122 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
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?
Triplex - Three-unit residential income property near downtown and U-Mass Lowell, with lead certificates in hand.
Where is this triplex located?
The property is located at 1 Dublin St Lowell, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two 5‑bedroom units and one 2‑bedroom unit; 3,455‑square‑foot triplex built in 1900; Long‑term tenants in place
