Two-Family Residential Income
For Sale
$700,000
103 Dalton St, Lowell, MA 01850
Oversized two-family home near UMASS Lowell with separate utilities, hardwood floors, and a large fenced yard.
Property Size3,497 SF
Days on Market60
Property Features for 103 Dalton St
General Information
Standard status
Active
Size
3,497 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,845
Building Details
Building Size
3,497 SF
Year Built
1920
Stories
3
Units
2
Listing Agency:
(617) 991-4607
Listed By:
James Pham
(617) 991-4607
Source:
Elliman
Added: Jun 23
Changed: Aug 8
Last Checked: Aug 21 at 10:58AM
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 James Pham
Investment Insights
Based on property information with market context.
This well-cared-for two-family property offers approximately 3,500 square feet of living space with separate utilities and hardwood floors throughout. The home is configured as two distinct units with separate living arrangements. Unit 1 is set up for two-level living with three bedrooms and 1.5 bathrooms and will be delivered vacant. Unit 2 offers two bedrooms plus a potential third bedroom or office, and it is currently occupied on a month-to-month basis.
The property is located in Lowell near UMASS Lowell and the scenic Merrimack River. WalkScore is listed as 98, indicating a highly walkable setting, and transitScore is listed as 60, indicating good transit. bikeScore is listed as 49, indicating some bikeability.
This format should appeal to buyers looking for an owner-occupant option alongside rental income, given Unit 1’s planned vacancy and Unit 2’s existing configuration. Investors may also find the separate utilities and two-level layout useful for tenant separation and day-to-day management. The fenced yard provides outdoor space suitable for gardening and general relaxation.
The property is located in Lowell near UMASS Lowell and the scenic Merrimack River. WalkScore is listed as 98, indicating a highly walkable setting, and transitScore is listed as 60, indicating good transit. bikeScore is listed as 49, indicating some bikeability.
This format should appeal to buyers looking for an owner-occupant option alongside rental income, given Unit 1’s planned vacancy and Unit 2’s existing configuration. Investors may also find the separate utilities and two-level layout useful for tenant separation and day-to-day management. The fenced yard provides outdoor space suitable for gardening and general relaxation.
Key Highlights
- Two‑family home with approximately 3,500 SF of living space
- Year built: 1920
- Separate utilities for the two units
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
8.91%
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
Apartment 5plus
$891.2K
$779.8K – $1.04M
NOI $62,381 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,157 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Oversized two-family home near UMASS Lowell with separate utilities, hardwood floors, and a large fenced yard.
Where is this multifamily property located?
The property is located at 103 Dalton St Lowell, MA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two‑family home with approximately 3,500 SF of living space; Year built: 1920; Separate utilities for the two units
