Side-by-Side
New
For Sale
$699,000
34 Neofotistos Circle, Dracut, MA 01826
Occupied two-family property with private entrances, separate basement areas, and off-street parking for each household.
Property Size2,100 SF
Price / SF$332.86
Days on Market4
Property Features for 34 Neofotistos Circle
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Multi-family
Occupancy
100%
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1963
Buildings
1
Tenancy
Multi
Listing Agency:
Bostonville Realty
Listed By:
Apurva Patel
(508) 287-2695
Source:
Demakis
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 5 at 6:56AM
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 Bostonville Realty
Investment Insights
Based on property information with market context.
Built in 1963, this side-by-side duplex contains approximately 2,100 square feet across two comparable units. Each residence has 5 rooms, 3 bedrooms, 1 full bathroom, its own entrance, dedicated basement space, and separate washer/dryer hookups. The layout keeps the households distinct and includes a level yard with ample off-street parking. Both units are occupied, and tenants pay their own gas heat and electricity.
The property is located at 34 Neofotistos Circle in Dracut, near UMass Lowell’s North Campus. Public transportation, shopping, restaurants, downtown Lowell, employment centers, and major commuter routes are accessible from the property. The two-family configuration supports continued rental use or an owner-occupant arrangement with a separate household in the second unit.
The property is located at 34 Neofotistos Circle in Dracut, near UMass Lowell’s North Campus. Public transportation, shopping, restaurants, downtown Lowell, employment centers, and major commuter routes are accessible from the property. The two-family configuration supports continued rental use or an owner-occupant arrangement with a separate household in the second unit.
Key Highlights
- Side‑by‑side duplex with two comparable living units
- Approximately 2,100 square feet of living area
- Each unit includes 5 rooms, 3 bedrooms, and 1 full bathroom
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
$44,437
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
6.36%
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%
$888,740
$888.7K
Cap Rate 7%
$634,814
$634.8K
Cap Rate 9%
$493,744
$493.7K
Market Conditions
NOI Build-Up for 2,100 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
$66.8K $31.80/SF
− Vacancy
−$3.3K −$1.57/SF
EGI
$63.5K $30.23/SF
− OpEx
−$19.0K −$9.07/SF
NOI
$44.4K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$888,740
Cap Rate 7%
$634,814
Cap Rate 9%
$493,744
Alternative Uses
Best Use
Multifamily LT 5
$634.8K
$555.5K – $740.6K
NOI $44,437 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$596.9K
$522.3K – $696.4K
NOI $41,783 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,023 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Explore this area
Business Placement
Demographics for 01826, MA
32,689
Population
12,480
Households
2.6
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,572
Density / Sq Mi
$111,451
Median Household Income
$58,361
Median Earnings
$1,740
Median Rent
$466,200
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?
Duplex - Occupied two-family property with private entrances, separate basement areas, and off-street parking for each household.
Where is this duplex located?
The property is located at 34 Neofotistos Circle Dracut, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two comparable living units; Approximately 2,100 square feet of living area; Each unit includes 5 rooms, 3 bedrooms, and 1 full bathroom
