Two-Family Investment
59 Lancaster St Leominster, MA 01453
For Sale
$540,000
Two-family property near amenities with income potential.
Property Size2,202 SF
Price / SF$245.23
Days on Market96
Property Features for 59 Lancaster St
General Information
- Standard status
- Active
- Size
- 2,202 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1860
Listing Agency:
Simple Key Realty Inc.
(617) 513-5484
Listed By:
Marcia Williams
(617) 513-5484
Source:
Alliancepartnersre
Added: Apr 23
Changed: Jul 10
Last Checked: Jul 24 at 5:27PM
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 Simple Key Realty Inc.
Investment Insights
Based on property information with market context.
This two-family property presents an investment opportunity for investors and owner-occupants. Each unit features functional layouts and comfortable living spaces. The living room includes a fireplace and beamed ceiling. The property provides separate driveways for off-street parking. An enclosed three-season porch offers additional space. The property is located near shopping, local amenities, and commuter routes. The building size is 2202 square feet.
Key Highlights
- Two‑family property ideal for investors or owner‑occupants seeking rental income.
- Separate driveways provide convenient off‑street parking for each unit.
- Convenient location near shopping, local amenities, and commuter routes.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.6k | $19.80 |
| − Vacancy | −$1.1k | −$0.49 |
| EGI | $42.5k | $19.31 |
| − OpEx | −$12.8k | −$5.79 |
| NOI | $29.8k | $13.52 |
2,202 SF · lease $19.80/SF/yr · vacancy 2.47% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$425.2K
$372.1K – $496.1K
NOI $29,766 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$370.1K
$323.8K – $431.7K
NOI $25,904 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$752.0K
$658.0K – $877.3K
NOI $52,637 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-family property near amenities with income potential.
Where is this duplex located?
The property is located at 59 Lancaster St Leominster, MA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Two‑family property ideal for investors or owner‑occupants seeking rental income.; Separate driveways provide convenient off‑street parking for each unit.; Convenient location near shopping, local amenities, and commuter routes.
