Updated Duplex with Central
New
For Sale
$850,000
44-46 Starbird St, Lowell, MA 01854
Vacant two-family property with gas heating, central air conditioning, refreshed porches, and vinyl siding.
Property Size2,768 SF
Price / SF$307.08
Days on Market4
Property Features for 44-46 Starbird St
General Information
Standard status
Active
Size
2,768 SF
Property subtype
Multi-Family
Building Details
Year Built
1922
Listing Agency:
Ryan Mccormick, Metro Realty Corp
(617) 398-4444
Listed By:
The Goodrich Team
(617) 398-4444
Source:
Goodrichboston
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 26 at 12:39PM
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 Ryan Mccormick, Metro Realty Corp
Investment Insights
Based on property information with market context.
Built in 1922, this 2,768-square-foot duplex contains two vacant units, each with three bedrooms. Recent improvements include approximately two one-year-old gas water heaters, two gas forced hot-air heating systems, central air conditioning, updated porches, and vinyl siding. An unfinished walk-up attic provides additional storage space.
The property sits on a larger-than-average lot with a spacious lawn and a paved driveway accommodating approximately five vehicles. Its Lowell setting places the home within walking distance of UMass Lowell and Lowell General Hospital, with access to Routes 3 and 495 nearby.
The property sits on a larger-than-average lot with a spacious lawn and a paved driveway accommodating approximately five vehicles. Its Lowell setting places the home within walking distance of UMass Lowell and Lowell General Hospital, with access to Routes 3 and 495 nearby.
Key Highlights
- 2,768‑square‑foot duplex built in 1922
- Two vacant units, each with three bedrooms
- Approximately two one‑year‑old gas water heaters
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
$54,844
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
6.45%
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%
$1,096,880
$1.1M
Cap Rate 7%
$783,486
$783.5K
Cap Rate 9%
$609,378
$609.4K
Market Conditions
NOI Build-Up for 2,768 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
$84.7K $30.60/SF
− Vacancy
−$6.4K −$2.30/SF
EGI
$78.3K $28.31/SF
− OpEx
−$23.5K −$8.49/SF
NOI
$54.8K $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%
$1,096,880
Cap Rate 7%
$783,486
Cap Rate 9%
$609,378
Alternative Uses
Best Use
Multifamily LT 5
$783.5K
$685.6K – $914.1K
NOI $54,844 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$705.4K
$617.2K – $823.0K
NOI $49,377 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$974.2K
$852.5K – $1.14M
NOI $68,196 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
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 gas heating, central air conditioning, refreshed porches, and vinyl siding.
Where is this duplex located?
The property is located at 44-46 Starbird St Lowell, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,768‑square‑foot duplex built in 1922; Two vacant units, each with three bedrooms; Approximately two one‑year‑old gas water heaters
