Duplex with Two
New
For Sale
$699,900
28 E Meadow Rd, Lowell, MA 01854
Two residential units provide matching room layouts, hardwood flooring, and covered outdoor areas.
Property Size2,824 SF
Price / SF$247.84
Days on Market5
Property Features for 28 E Meadow Rd
General Information
Standard status
Active
Size
2,824 SF
Property subtype
2 Family - 2 Units Up/Down
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
hardwood floors
large foyers
built-in hutch
pantry
large front porch
side screened in porch
walk up attic
Building Details
Year Built
1900
Listing Agency:
LAER Realty Partners
(781) 241-3781
Listed By:
Sarah McCoy
(781) 241-3781
Source:
Lockandkeyre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 4:43AM
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 LAER Realty Partners
Investment Insights
Based on property information with market context.
This duplex at 28 E Meadow Rd in Lowell includes two residential units, each arranged with 6 rooms, 3 bedrooms, a dining room, and 1 bath. Combined property size is 2,824 square feet, with construction dating to 1900. Interior details include hardwood floors, broad entry foyers, built-in dining-room hutches, and pantries in both units.
Outdoor features include a large front porch for each unit along with a screened side porch. A walk-up attic provides storage and may be finished for additional living space. The property is located in the Pawtucketville area of Lowell, Massachusetts.
Outdoor features include a large front porch for each unit along with a screened side porch. A walk-up attic provides storage and may be finished for additional living space. The property is located in the Pawtucketville area of Lowell, Massachusetts.
Key Highlights
- Two‑unit duplex with 2,824 square feet of property size
- Each unit includes 6 rooms, 3 bedrooms, a dining room, and 1 bath
- Hardwood floors, large foyers, built‑in dining‑room hutches, and pantries 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
$55,953
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
7.99%
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%
$1,119,060
$1.1M
Cap Rate 7%
$799,329
$799.3K
Cap Rate 9%
$621,700
$621.7K
Market Conditions
NOI Build-Up for 2,824 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
$86.4K $30.60/SF
− Vacancy
−$6.5K −$2.30/SF
EGI
$79.9K $28.31/SF
− OpEx
−$24.0K −$8.49/SF
NOI
$56.0K $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%
$1,119,060
Cap Rate 7%
$799,329
Cap Rate 9%
$621,700
Alternative Uses
Best Use
Multifamily LT 5
$799.3K
$699.4K – $932.6K
NOI $55,953 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$719.7K
$629.7K – $839.6K
NOI $50,376 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$993.9K
$869.7K – $1.16M
NOI $69,576 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
249
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 - Two residential units provide matching room layouts, hardwood flooring, and covered outdoor areas.
Where is this duplex located?
The property is located at 28 E Meadow Rd Lowell, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,824 square feet of property size; Each unit includes 6 rooms, 3 bedrooms, a dining room, and 1 bath; Hardwood floors, large foyers, built‑in dining‑room hutches, and pantries in both units
