Duplex with In-Law
For Sale
$679,900
122 S Walker St, Lowell, MA 01851
Corner-lot duplex with separate living areas, a three-season porch, deck, fenced yard, and ample parking.
Property Size3,323 SF
Days on Market113
Property Features for 122 S Walker St
General Information
Standard status
Active
Size
3,323 SF
Property subtype
Multi Family
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,217
Building Details
Building Size
3,323 SF
Year Built
1920
Listing Agency:
LAER Realty Partners
Listed By:
Daniel Capra
Source:
Donnellyandco
Added: May 12
Changed: Aug 29
Last Checked: Aug 31 at 12:58AM
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 LAER Realty Partners
Investment Insights
Based on property information with market context.
This 1920 duplex offers 3,323 square feet of living space across a main residence and an attached in-law or ADU area. The primary home includes four bedrooms and two bathrooms, while the secondary living area provides one bedroom, one bathroom, and a loft. A three-season porch separates the spaces and can serve as an entry, mudroom, or shared sitting area.
Outdoor features include a large deck and fenced yard suited to gatherings and everyday use. Parking is available in the driveway, with additional on-street spaces along D Street and S Walker Street. The property occupies a corner lot at 122 S Walker Street in Lowell’s Highlands section.
Outdoor features include a large deck and fenced yard suited to gatherings and everyday use. Parking is available in the driveway, with additional on-street spaces along D Street and S Walker Street. The property occupies a corner lot at 122 S Walker Street in Lowell’s Highlands section.
Key Highlights
- Duplex with 3,323 SF of living space
- Main residence includes 4 bedrooms and 2 bathrooms
- In‑law/ADU area has 1 bedroom, 1 bathroom, and a loft
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
$59,277
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
8.72%
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%
$1,185,540
$1.2M
Cap Rate 7%
$846,814
$846.8K
Cap Rate 9%
$658,633
$658.6K
Market Conditions
NOI Build-Up for 3,323 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
$115.6K $34.80/SF
− Vacancy
−$7.9K −$2.37/SF
EGI
$107.8K $32.43/SF
− OpEx
−$48.5K −$14.60/SF
NOI
$59.3K $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%
$1,185,540
Cap Rate 7%
$846,814
Cap Rate 9%
$658,633
Alternative Uses
Best Use
Multifamily LT 5
$940.6K
$823.0K – $1.10M
NOI $65,840 @ 7.0% cap · market cap 9.68%
Second Best
Apartment 5plus
$846.8K
$741.0K – $988.0K
NOI $59,277 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,870 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 01851, MA
32,691
Population
11,759
Households
2.8
Avg Household Size
34
Median Age
32%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
10,216
Density / Sq Mi
$87,962
Median Household Income
$46,388
Median Earnings
$1,686
Median Rent
$432,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot duplex with separate living areas, a three-season porch, deck, fenced yard, and ample parking.
Where is this duplex located?
The property is located at 122 S Walker St Lowell, MA.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Duplex with 3,323 SF of living space; Main residence includes 4 bedrooms and 2 bathrooms; In‑law/ADU area has 1 bedroom, 1 bathroom, and a loft
