Duplex with Walk-Up
For Sale
$549,900
30 Grace Street, Lowell, MA 01851
Two separate residences offer distinct entrances, flexible living arrangements, and practical storage throughout the property.
Property Size1,940 SF
Price / SF$283.45
Days on Market166
Property Features for 30 Grace Street
General Information
Standard status
Active
Size
1,940 SF
Total Parking Spaces
6
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
TTF
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,590
Amenities
laundry in basement
storage shed
finished porch
No
Wood, Vinyl, Hardwood, Parquet, Tile, Stone/Ceramic Tile
Range, Refrigerator
2.0
Gas Dryer Hookup
Full, Interior Access, Bulkhead, Concrete Floor, Unfinished Basement
Ceiling Fan(s), Floored Attic, Walk-Up Attic, Bathroom With Tub & Shower, Living Room, Kitchen
2
2.00
Frame
Shingle
Porch, Porch - Enclosed
Porch, Enclosed
Building Details
Year Built
1930
Buildings
1
Listing Agency:
RE/MAX Innovative Properties
(978) 452-4432
Listed By:
Raymond Boutin · License #9026126
(978) 452-4432
Source:
Compass
Added: Mar 19
Changed: Aug 30
Last Checked: Aug 30 at 6:27AM
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.
This 1930 duplex contains 1,940 square feet across two separate residences. The first-floor unit includes original wood details, high ceilings, a living room, kitchen, primary bedroom with walk-in closet, and enclosed porch. The upper unit provides two bedrooms and additional living space. Separate entrances support independent occupancy, while the walk-up attic offers storage or future finishing potential. Energy-efficiency updates are also in place.
A full basement includes laundry, interior access, a bulkhead, and concrete flooring. The property also features off-street parking and a backyard storage shed. Zoned TTF, it is located near shopping, dining, and commuter routes. Additional finishes and features include wood, vinyl, hardwood, parquet, tile, stone/ceramic tile, a range, refrigerator, gas dryer hookup, ceiling fans, and a bathroom with tub and shower.
A full basement includes laundry, interior access, a bulkhead, and concrete flooring. The property also features off-street parking and a backyard storage shed. Zoned TTF, it is located near shopping, dining, and commuter routes. Additional finishes and features include wood, vinyl, hardwood, parquet, tile, stone/ceramic tile, a range, refrigerator, gas dryer hookup, ceiling fans, and a bathroom with tub and shower.
Key Highlights
- 1,940‑square‑foot duplex built in 1930
- Two residences with separate entrances
- First‑floor unit with original woodwork, high ceilings, walk‑in closet, and enclosed porch
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
$38,438
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
6.99%
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%
$768,760
$768.8K
Cap Rate 7%
$549,114
$549.1K
Cap Rate 9%
$427,089
$427.1K
Market Conditions
NOI Build-Up for 1,940 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
$59.4K $30.60/SF
− Vacancy
−$4.5K −$2.30/SF
EGI
$54.9K $28.31/SF
− OpEx
−$16.5K −$8.49/SF
NOI
$38.4K $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%
$768,760
Cap Rate 7%
$549,114
Cap Rate 9%
$427,089
Alternative Uses
Best Use
Multifamily LT 5
$549.1K
$480.5K – $640.6K
NOI $38,438 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$494.4K
$432.6K – $576.8K
NOI $34,607 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$682.8K
$597.5K – $796.6K
NOI $47,797 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,286
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer distinct entrances, flexible living arrangements, and practical storage throughout the property.
Where is this duplex located?
The property is located at 30 Grace Street Lowell, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 1,940‑square‑foot duplex built in 1930; Two residences with separate entrances; First‑floor unit with original woodwork, high ceilings, walk‑in closet, and enclosed porch
