Two-Family Duplex With Updated
For Sale
$599,900
Pending
64 Fulton St, Lowell, MA 01850
Move-in ready two-family duplex with central a/c and recently replaced roof, plus ample parking and driveway with on-street permit.
Property Size2,439 SF
Days on Market26
Property Features for 64 Fulton St
General Information
Standard status
Pending
Size
2,439 SF
Property subtype
Multi Family
Building Details
Building Size
2,439 SF
Year Built
1920
Listing Agency:
IVerty Realty, LLC
(413) 786-0584
Listed By:
Mela Dieujuste
(413) 786-0584
Source:
Iverty
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 5 at 4:01AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
Move-in ready two-family duplex designed for straightforward owner-occupant or rental use. The property includes updated major systems, including two new water heaters dated 2025 and 2026, a new furnace with central a/c, and a roof replacement completed within the last 12–15 years. Parking is available in the driveway, with a permit for on-street parking.
The building was constructed in 1920 and totals 2,439 SF, providing a compact, manageable size for a duplex buyer. Existing updates help reduce near-term replacement concerns and support immediate move-in readiness.
For buyers seeking a two-family home with key mechanical improvements already addressed, this property combines updated infrastructure with practical parking for residents and guests.
The building was constructed in 1920 and totals 2,439 SF, providing a compact, manageable size for a duplex buyer. Existing updates help reduce near-term replacement concerns and support immediate move-in readiness.
For buyers seeking a two-family home with key mechanical improvements already addressed, this property combines updated infrastructure with practical parking for residents and guests.
Key Highlights
- Move‑in ready two‑family duplex
- Two new water heaters dated 2025 and 2026
- New furnace with central a/c
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
$48,325
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
8.06%
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%
$966,500
$966.5K
Cap Rate 7%
$690,357
$690.4K
Cap Rate 9%
$536,944
$536.9K
Market Conditions
NOI Build-Up for 2,439 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
$74.6K $30.60/SF
− Vacancy
−$5.6K −$2.30/SF
EGI
$69.0K $28.31/SF
− OpEx
−$20.7K −$8.49/SF
NOI
$48.3K $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%
$966,500
Cap Rate 7%
$690,357
Cap Rate 9%
$536,944
Alternative Uses
Best Use
Multifamily LT 5
$690.4K
$604.1K – $805.4K
NOI $48,325 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$621.5K
$543.9K – $725.1K
NOI $43,508 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$858.4K
$751.1K – $1.00M
NOI $60,091 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,094
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?
Duplex - Move-in ready two-family duplex with central a/c and recently replaced roof, plus ample parking and driveway with on-street permit.
Where is this duplex located?
The property is located at 64 Fulton St Lowell, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Move‑in ready two‑family duplex; Two new water heaters dated 2025 and 2026; New furnace with central a/c
