Three-Family with Updated
For Sale
$744,999
100 Appleton St, Lowell, MA 01852
Three-unit residential income property in Lowell with updated finishes and a mix of electric mini-splits and natural gas forced-air heat.
Property Size2,468 SF
Price / SF$301.86
Days on Market97
Property Features for 100 Appleton St
General Information
Standard status
Active
Size
2,468 SF
Property subtype
Multi-Family
Zoning
UMU
Net Operating Income
$45,600
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,676
Building Details
Building Size
2,468 SF
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
J.M.I. Investment Properties
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 2
Changed: Sep 4
Last Checked: Aug 8 at 3:50AM
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 J.M.I. Investment Properties
Investment Insights
Based on property information with market context.
This cosmetically updated three-family residence offers practical layouts across three units. Interior features include updated finishes and flooring with hardwood, tile, and laminate. For heating and cooling, the building has a mix of electric mini-splits and forced-air natural gas systems.
The property is located in Lowell and is described as just minutes from downtown, with public transit, universities, shopping, dining, and entertainment nearby.
The building is currently producing stated rental income of $5,700 per month. One unit is expected to become vacant at the end of August, creating flexibility for an owner-occupant or for continued investment operations.
The property is located in Lowell and is described as just minutes from downtown, with public transit, universities, shopping, dining, and entertainment nearby.
The building is currently producing stated rental income of $5,700 per month. One unit is expected to become vacant at the end of August, creating flexibility for an owner-occupant or for continued investment operations.
Key Highlights
- Three‑family residential income property in Lowell with updated finishes
- Current rental income of $5,700/month
- One unit expected to become vacant at the end of August
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
$48,900
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
6.56%
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%
$978,000
$978.0K
Cap Rate 7%
$698,571
$698.6K
Cap Rate 9%
$543,333
$543.3K
Market Conditions
NOI Build-Up for 2,468 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
$75.5K $30.60/SF
− Vacancy
−$5.7K −$2.30/SF
EGI
$69.9K $28.31/SF
− OpEx
−$21.0K −$8.49/SF
NOI
$48.9K $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%
$978,000
Cap Rate 7%
$698,571
Cap Rate 9%
$543,333
Alternative Uses
Best Use
Multifamily LT 5
$698.6K
$611.3K – $815.0K
NOI $48,900 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$628.9K
$550.3K – $733.8K
NOI $44,025 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$868.6K
$760.1K – $1.01M
NOI $60,805 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,293
Businesses Nearby
Explore this area
Business Placement
Demographics for 01852, MA
36,708
Population
15,363
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
86%
High-School Grad
5.0 sq mi
ZIP Area
7,342
Density / Sq Mi
$77,058
Median Household Income
$48,976
Median Earnings
$1,567
Median Rent
$397,200
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 in Lowell with updated finishes and a mix of electric mini-splits and natural gas forced-air heat.
Where is this triplex located?
The property is located at 100 Appleton St Lowell, MA.
What is the asking price?
The asking price for this property is $744,999.
What are key features of this property?
This property features: Three‑family residential income property in Lowell with updated finishes; Current rental income of $5,700/month; One unit expected to become vacant at the end of August
