Two-Family Residence with Private Outdoor
For Sale
$519,900
Pending
18 Pleasant St, Lowell, MA 01852
Well-maintained two-family with separate utilities and laundry hookups, plus deck and backyard; second floor delivered vacant.
Property Size1,632 SF
Days on Market105
Property Features for 18 Pleasant St
General Information
Standard status
Pending
Size
1,632 SF
Property subtype
Contingent
Zoning
TTF
Net Operating Income
$21,600
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,162
Building Details
Building Size
1,632 SF
Year Built
1880
Stories
2
Listing Agency:
Howe Realty Group
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 8
Changed: Aug 12
Last Checked: Aug 11 at 5:04AM
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 Howe Realty Group
Investment Insights
Based on property information with market context.
This well-maintained two-family residence is set up for independent living, with each unit having separate utilities and washer and dryer hookups. The upper unit includes a private deck off the back bedroom, providing an outdoor space for everyday use. The lower unit offers access to a small, private backyard for quiet, outdoor relaxation. Lead certificates are in hand, and the second-floor unit is to be delivered vacant.
Located in Lowell, the property is described as being just minutes from downtown Lowell, supporting convenient access to area amenities. The overall layout includes distinct living areas tied to their own utility setup, making it straightforward to manage day-to-day occupancy.
From an ownership standpoint, the configuration can appeal to buyers looking to live in one unit while renting the other, since the units are designed to function with independence in utilities and laundry. With the second floor to be delivered vacant, prospective residents and investors also have flexibility for immediate occupancy planning. The outdoor spaces attached to both levels add practical everyday value for occupants.
Located in Lowell, the property is described as being just minutes from downtown Lowell, supporting convenient access to area amenities. The overall layout includes distinct living areas tied to their own utility setup, making it straightforward to manage day-to-day occupancy.
From an ownership standpoint, the configuration can appeal to buyers looking to live in one unit while renting the other, since the units are designed to function with independence in utilities and laundry. With the second floor to be delivered vacant, prospective residents and investors also have flexibility for immediate occupancy planning. The outdoor spaces attached to both levels add practical everyday value for occupants.
Key Highlights
- Well‑maintained two‑family built in 1880
- Each unit has separate utilities
- Washer and dryer hookups in both units
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
$32,336
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
6.22%
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%
$646,720
$646.7K
Cap Rate 7%
$461,943
$461.9K
Cap Rate 9%
$359,289
$359.3K
Market Conditions
NOI Build-Up for 1,632 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
$49.9K $30.60/SF
− Vacancy
−$3.7K −$2.30/SF
EGI
$46.2K $28.31/SF
− OpEx
−$13.9K −$8.49/SF
NOI
$32.3K $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%
$646,720
Cap Rate 7%
$461,943
Cap Rate 9%
$359,289
Alternative Uses
Best Use
Multifamily LT 5
$461.9K
$404.2K – $538.9K
NOI $32,336 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$415.9K
$363.9K – $485.2K
NOI $29,112 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$574.4K
$502.6K – $670.1K
NOI $40,208 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,558
Businesses Nearby
Explore this area
Business Placement
Demographics for 01852, MA
36,708
Population
15,363
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
86%
High-School Grad
5.0 sq mi
ZIP Area
7,342
Density / Sq Mi
$77,058
Median Household Income
$48,976
Median Earnings
$1,567
Median Rent
$397,200
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 - Well-maintained two-family with separate utilities and laundry hookups, plus deck and backyard; second floor delivered vacant.
Where is this duplex located?
The property is located at 18 Pleasant St Lowell, MA.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Well‑maintained two‑family built in 1880; Each unit has separate utilities; Washer and dryer hookups in both units
