Four-Unit Multifamily
For Sale
$950,000
40-48 Primrose Hill Rd, Dracut, MA 01826
Quadplex with four two-bedroom residences and off-street tenant parking in Dracut.
Property Size2,700 SF
Price / SF$351.85
Days on Market42
Property Features for 40-48 Primrose Hill Rd
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Building Details
Year Built
1900
Listing Agency:
J. Borstell Real Estate, Inc.
Listed By:
Patrick Hermans
Source:
Livianhomesct
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 5:03AM
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 J. Borstell Real Estate, Inc.
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains four two-bedroom residences within a building constructed in 1900. Off-street parking is available for residents, adding practical functionality to the property’s residential configuration.
The property is located at 40-48 Primrose Hill Road in Dracut, with access to local amenities, downtown Lowell, and Long Pond. Its unit layout provides a consistent two-bedroom format across all residences.
The property is located at 40-48 Primrose Hill Road in Dracut, with access to local amenities, downtown Lowell, and Long Pond. Its unit layout provides a consistent two-bedroom format across all residences.
Key Highlights
- Four two‑bedroom units
- Off‑street parking for tenants
- Built in 1900
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
$57,133
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
6.01%
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%
$1,142,660
$1.1M
Cap Rate 7%
$816,186
$816.2K
Cap Rate 9%
$634,811
$634.8K
Market Conditions
NOI Build-Up for 2,700 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
$85.9K $31.80/SF
− Vacancy
−$4.2K −$1.57/SF
EGI
$81.6K $30.23/SF
− OpEx
−$24.5K −$9.07/SF
NOI
$57.1K $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%
$1,142,660
Cap Rate 7%
$816,186
Cap Rate 9%
$634,811
Alternative Uses
Best Use
Multifamily LT 5
$816.2K
$714.2K – $952.2K
NOI $57,133 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$767.4K
$671.5K – $895.4K
NOI $53,721 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,887 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
303
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?
Quadplex - Quadplex with four two-bedroom residences and off-street tenant parking in Dracut.
Where is this quadplex located?
The property is located at 40-48 Primrose Hill Rd Dracut, MA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Four two‑bedroom units; Off‑street parking for tenants; Built in 1900
