Two-Unit Duplex with Paved
For Sale
$709,000
56-58 Pine St, Lowell, MA 01851
Residential Income, Lowell, MA
Property Size2,573 SF
Lot Size0.11 Acres
Price / SF$275.55
Days on Market42
Property Features for 56-58 Pine St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
TMF
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 3
Parking
8
Elementary school
Morey
Middle school
Daley
High school
Lowell High School
Directions
Use GPS
Subdivision
Highlands
Standard status
Active
APN
M: 104 B: 4655 L: 56
Size
2,573 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5954
Building Details
Year built
1870
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty-Merrimack
(978) 692-3280
Listed By:
Claire Ryan
(978) 692-3280
Added: Jul 20
Changed: Aug 26
Last Checked: Aug 30 at 12:06PM
MLS# 73552415
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family residence contains 2,573 square feet with matching layouts of three bedrooms and one full bathroom in each unit. The first-floor apartment includes an in-unit washer and dryer, while the second-floor apartment provides additional residential space within the two-story configuration. Both units are scheduled for delivery vacant.
The property occupies a 0.11-acre lot at 56-58 Pine St in Lowell, Massachusetts. Its fully paved parking area accommodates over 8 cars, supporting convenient access for residents and guests. TMF zoning and the property’s established residential configuration are also part of the offering. Built in 1870, the home is positioned near schools, parks, shopping, restaurants, major highways, and public transportation.
The property occupies a 0.11-acre lot at 56-58 Pine St in Lowell, Massachusetts. Its fully paved parking area accommodates over 8 cars, supporting convenient access for residents and guests. TMF zoning and the property’s established residential configuration are also part of the offering. Built in 1870, the home is positioned near schools, parks, shopping, restaurants, major highways, and public transportation.
Key Highlights
- Two units, each with 3 bedrooms and 1 full bathroom
- 2,573 square feet on a 0.11‑acre lot
- Fully paved parking area with space for over 8 cars
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
$50,980
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
7.19%
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%
$1,019,600
$1.0M
Cap Rate 7%
$728,286
$728.3K
Cap Rate 9%
$566,444
$566.4K
Market Conditions
NOI Build-Up for 2,573 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
$78.7K $30.60/SF
− Vacancy
−$5.9K −$2.30/SF
EGI
$72.8K $28.31/SF
− OpEx
−$21.8K −$8.49/SF
NOI
$51.0K $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%
$1,019,600
Cap Rate 7%
$728,286
Cap Rate 9%
$566,444
Alternative Uses
Best Use
Multifamily LT 5
$728.3K
$637.3K – $849.7K
NOI $50,980 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$655.7K
$573.7K – $765.0K
NOI $45,898 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$905.6K
$792.4K – $1.06M
NOI $63,392 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 01851, MA
32,691
Population
11,759
Households
2.8
Avg Household Size
34
Median Age
32%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
10,216
Density / Sq Mi
$87,962
Median Household Income
$46,388
Median Earnings
$1,686
Median Rent
$432,100
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 - Vacant two-family property with spacious three-bedroom layouts and convenient on-site parking.
Where is this duplex located?
The property is located at 56-58 Pine St Lowell, MA.
What is the asking price?
The asking price for this property is $709,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 full bathroom; 2,573 square feet on a 0.11‑acre lot; Fully paved parking area with space for over 8 cars
