Three-Unit Property Requiring
New
For Sale
$624,900
37 Fourth St, Lowell, MA 01850
Corner-lot multifamily property with separate utilities, basement laundry, and off-street parking.
Property Size2,200 SF
Days on Market2
Property Features for 37 Fourth St
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,280
Building Details
Building Size
2,200 SF
Year Built
1920
Stories
3
Units
3
Listing Agency:
eXp Realty LLC
(508) 868-6821
Listed By:
Steve Bui
(508) 868-6821
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 7:35AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This three-family property at 37 Fourth St features an up-and-down unit configuration and requires renovation and updating before occupancy. Each unit has separate utilities, with tenants responsible for their own heat and electric. The property also includes vinyl windows, off-street parking, coin-operated laundry in the basement, and a corner-lot setting.
The property is located in Lowell’s Centralville neighborhood, with access to UMass Lowell, Downtown Lowell, the Tsongas Center, commuter rail, Route 3, I-495, shopping, dining, and everyday amenities. WalkScore is 6, BikeScore is 22, and TransitScore is 44. The roof was replaced in 2013, and the porches were completed in 2014.
The property is located in Lowell’s Centralville neighborhood, with access to UMass Lowell, Downtown Lowell, the Tsongas Center, commuter rail, Route 3, I-495, shopping, dining, and everyday amenities. WalkScore is 6, BikeScore is 22, and TransitScore is 44. The roof was replaced in 2013, and the porches were completed in 2014.
Key Highlights
- Three‑family property with an up‑and‑down unit configuration
- Separate utilities; tenants responsible for their own heat and electric
- Corner lot with off‑street parking
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
$43,590
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
6.98%
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%
$871,800
$871.8K
Cap Rate 7%
$622,714
$622.7K
Cap Rate 9%
$484,333
$484.3K
Market Conditions
NOI Build-Up for 2,200 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
$67.3K $30.60/SF
− Vacancy
−$5.0K −$2.30/SF
EGI
$62.3K $28.31/SF
− OpEx
−$18.7K −$8.49/SF
NOI
$43.6K $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%
$871,800
Cap Rate 7%
$622,714
Cap Rate 9%
$484,333
Alternative Uses
Best Use
Multifamily LT 5
$622.7K
$544.9K – $726.5K
NOI $43,590 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$560.6K
$490.6K – $654.1K
NOI $39,245 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$774.3K
$677.5K – $903.4K
NOI $54,202 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 01850, MA
16,670
Population
6,028
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
1.4 sq mi
ZIP Area
11,907
Density / Sq Mi
$67,581
Median Household Income
$42,096
Median Earnings
$1,666
Median Rent
$367,200
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?
Triplex - Corner-lot multifamily property with separate utilities, basement laundry, and off-street parking.
Where is this triplex located?
The property is located at 37 Fourth St Lowell, MA.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Three‑family property with an up‑and‑down unit configuration; Separate utilities; tenants responsible for their own heat and electric; Corner lot with off‑street parking
