Residential Income
For Sale
$615,000
Pending
32 Oliver St, Lowell, MA 01854
Vacant two-story income duplex with seven bedrooms and three full bathrooms, plus private outdoor space on a 5,227 sf lot.
Property Size1,920 SF
Days on Market58
Property Features for 32 Oliver St
General Information
Standard status
Pending
Size
1,920 SF
Property subtype
2 Family - 2 Units Up/Down
Building Details
Year Built
1866
Listing Agency:
Prestige Homes Real Estate, LLC
Listed By:
Prestige Homes Realty Team
(781) 944-9500
Source:
Lockandkeyre
Added: Jul 11
Changed: Aug 8
Last Checked: Jul 23 at 5:26AM
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 Prestige Homes Real Estate, LLC
Investment Insights
Based on property information with market context.
This vacant residential income duplex offers 1,920 square feet of living space across two stories. The layout includes seven bedrooms and three full bathrooms, designed to support comfortable, private accommodations throughout the home.
Set on a 5,227 square foot lot, the property includes private outdoor space to complement the interior. The residence is located at 32 Oliver St in Lowell, MA.
The home is currently vacant, presenting an opportunity for an owner to move forward with updates or plan occupancy. Email offers.
Set on a 5,227 square foot lot, the property includes private outdoor space to complement the interior. The residence is located at 32 Oliver St in Lowell, MA.
The home is currently vacant, presenting an opportunity for an owner to move forward with updates or plan occupancy. Email offers.
Key Highlights
- Vacant two‑story duplex income property built in 1866
- 7 bedrooms with 3 full bathrooms across two stories
- 1,920 SF of living space
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
$38,042
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
6.19%
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%
$760,840
$760.8K
Cap Rate 7%
$543,457
$543.5K
Cap Rate 9%
$422,689
$422.7K
Market Conditions
NOI Build-Up for 1,920 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
$58.8K $30.60/SF
− Vacancy
−$4.4K −$2.30/SF
EGI
$54.3K $28.31/SF
− OpEx
−$16.3K −$8.49/SF
NOI
$38.0K $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%
$760,840
Cap Rate 7%
$543,457
Cap Rate 9%
$422,689
Alternative Uses
Best Use
Multifamily LT 5
$543.5K
$475.5K – $634.0K
NOI $38,042 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$489.3K
$428.1K – $570.8K
NOI $34,250 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$675.8K
$591.3K – $788.4K
NOI $47,304 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,267
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-story income duplex with seven bedrooms and three full bathrooms, plus private outdoor space on a 5,227 sf lot.
Where is this duplex located?
The property is located at 32 Oliver St Lowell, MA.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Vacant two‑story duplex income property built in 1866; 7 bedrooms with 3 full bathrooms across two stories; 1,920 SF of living space
