Two-Family Duplex with Private Outdoor
For Sale
$519,900
18 Pleasant St, Lowell, MA 01852
MULTI_FAMILY - Lowell, MA
Property Size1,632 SF
Lot Size0.04 Acres
Price / SF$318.57
Days on Market95
Property Features for 18 Pleasant St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
TTF
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 1
Elementary school
Lps
Middle school
Lps
High school
Lps Or Glths
Directions
Take Route 38 North exit off 495. Follow to left on Andover, L on High, L on Pond, Right on Pleasant
Standard status
Active
APN
M:200 B:4680 L:18,3192945
Size
1,632 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4162
Amenities
washer and dryer hookups
private deck
private backyard
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Innovative Properties · RE/MAX International
(978) 452-4432
Listed By:
Joshua Naughton · License #57445
(603) 434-4101
Added: May 7
Changed: Aug 5
Last Checked: Aug 9 at 2:06AM
MLS# 73515110
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.
Welcome to 18 Pleasant St in Lowell, a well-maintained two-family duplex with a total of 1,632 square feet. Built in 1880, the property is zoned TTF and includes lead certificates in hand. Each unit features separate utilities and washer and dryer hookups for convenient, independent living.
Outside space is built into both units, with a private deck off the back bedroom in the upper unit and access to a small, private backyard from the lower unit.
The second-floor unit is to be delivered vacant, supporting flexible occupancy or rental planning. The property sits on a 0.04-acre lot.
Outside space is built into both units, with a private deck off the back bedroom in the upper unit and access to a small, private backyard from the lower unit.
The second-floor unit is to be delivered vacant, supporting flexible occupancy or rental planning. The property sits on a 0.04-acre lot.
Key Highlights
- Duplex with separate utilities for each unit
- Washer and dryer hookups in each unit
- Private deck off upper unit back bedroom
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 - Two-family duplex on a small lot with separate utilities, washer and dryer hookups, and outdoor space for both units.
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: Duplex with separate utilities for each unit; Washer and dryer hookups in each unit; Private deck off upper unit back bedroom
