Seven-Bedroom Duplex with
New
For Sale
$799,900
61 Butterfield St, Lowell, MA 01854
Vacant two-family property with granite kitchen finishes, hardwood floors, and backyard planting space.
Property Size3,414 SF
Price / SF$234.30
Days on Market3
Property Features for 61 Butterfield St
General Information
Standard status
Active
Size
3,414 SF
Property subtype
Multi-Family
Building Details
Year Built
1915
Listing Agency:
Daisy Sanchez, Re/Max Ignite
(617) 609-8894
Listed By:
Hillman Homes
(617) 609-8894
Source:
Hillmanhomesma
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 11:10PM
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 Daisy Sanchez, Re/Max Ignite
Investment Insights
Based on property information with market context.
This two-family property offers 3,414 square feet of living area across two floors and a total of seven bedrooms. The first floor includes two bedrooms, a primary bedroom with hardwood flooring and a large closet, a granite-counter kitchen, and a dining room with hardwood floors. Gas heat serves the first floor, and the appliances remain. The second floor provides five bedrooms, a generously sized kitchen, and a new electric mini-split system with air conditioning and heating capabilities.
Vinyl siding and vinyl windows contribute to the exterior improvements. The backyard includes grapevines and other plantings, providing outdoor space for gardening. The property is scheduled for delivery vacant and may be used as an owner-occupied duplex or investment property.
Vinyl siding and vinyl windows contribute to the exterior improvements. The backyard includes grapevines and other plantings, providing outdoor space for gardening. The property is scheduled for delivery vacant and may be used as an owner-occupied duplex or investment property.
Key Highlights
- 3,414 square feet of total living area
- Seven bedrooms arranged across two floors
- First‑floor kitchen with granite countertops and dining room with hardwood floors
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
$67,643
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
8.46%
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%
$1,352,860
$1.4M
Cap Rate 7%
$966,329
$966.3K
Cap Rate 9%
$751,589
$751.6K
Market Conditions
NOI Build-Up for 3,414 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
$104.5K $30.60/SF
− Vacancy
−$7.8K −$2.30/SF
EGI
$96.6K $28.31/SF
− OpEx
−$29.0K −$8.49/SF
NOI
$67.6K $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%
$1,352,860
Cap Rate 7%
$966,329
Cap Rate 9%
$751,589
Alternative Uses
Best Use
Multifamily LT 5
$966.3K
$845.5K – $1.13M
NOI $67,643 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$870.0K
$761.3K – $1.02M
NOI $60,901 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,112 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,675
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?
Duplex - Vacant two-family property with granite kitchen finishes, hardwood floors, and backyard planting space.
Where is this duplex located?
The property is located at 61 Butterfield 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: 3,414 square feet of total living area; Seven bedrooms arranged across two floors; First‑floor kitchen with granite countertops and dining room with hardwood floors
