Two-Unit Duplex with Separate
For Sale
$609,000
42 Albion Street, Lowell, MA 01850
Two residential units offer distinct utility metering, laundry connections, and off-street parking.
Property Size2,109 SF
Price / SF$288.76
Days on Market14
Property Features for 42 Albion Street
General Information
Standard status
Active
Size
2,109 SF
Property subtype
Multi-family
Building Details
Year Built
1925
Listing Agency:
Access
(617) 825-8000
Listed By:
Dot Collection
(413) 584-2900
Source:
Mapleandmainrealty
Added: Aug 11
Changed: Aug 24
Last Checked: Aug 24 at 6:47AM
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 Access
Investment Insights
Based on property information with market context.
This duplex contains 2,109 square feet across two residential units totaling five bedrooms and two bathrooms. The layout includes one two-bedroom, one-bath unit and a separate three-bedroom, one-bath unit. Each residence has separate utilities, washer and dryer connections, and its own appliances. Off-street parking accommodates two vehicles.
Recent property updates include replacement hot water tanks in both units within the last three months, partial rear rubber-roof replacement, and fresh interior paint. One unit is leased through July 2027, while the other has an at-will tenancy and may be delivered vacant. The property carries TMF zoning and was built in 1925.
Located at 42 Albion Street in Lowell, the duplex is one mile from downtown and within walking distance of public transportation, Kerouac Park, and the George McDermott Reservoir.
Recent property updates include replacement hot water tanks in both units within the last three months, partial rear rubber-roof replacement, and fresh interior paint. One unit is leased through July 2027, while the other has an at-will tenancy and may be delivered vacant. The property carries TMF zoning and was built in 1925.
Located at 42 Albion Street in Lowell, the duplex is one mile from downtown and within walking distance of public transportation, Kerouac Park, and the George McDermott Reservoir.
Key Highlights
- 2,109 SF duplex with two units, five bedrooms, and two bathrooms
- Unit mix includes one 2‑bedroom/1‑bath unit and one 3‑bedroom/1‑bath unit
- Separate utilities and washer/dryer connections for each unit
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
$41,787
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
6.86%
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%
$835,740
$835.7K
Cap Rate 7%
$596,957
$597.0K
Cap Rate 9%
$464,300
$464.3K
Market Conditions
NOI Build-Up for 2,109 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
$64.5K $30.60/SF
− Vacancy
−$4.8K −$2.30/SF
EGI
$59.7K $28.31/SF
− OpEx
−$17.9K −$8.49/SF
NOI
$41.8K $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%
$835,740
Cap Rate 7%
$596,957
Cap Rate 9%
$464,300
Alternative Uses
Best Use
Multifamily LT 5
$597.0K
$522.3K – $696.5K
NOI $41,787 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$537.4K
$470.3K – $627.0K
NOI $37,621 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$742.3K
$649.5K – $866.0K
NOI $51,960 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,935
Businesses Nearby
Explore this area
Business Placement
Demographics for 01850, MA
16,670
Population
6,028
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
1.4 sq mi
ZIP Area
11,907
Density / Sq Mi
$67,581
Median Household Income
$42,096
Median Earnings
$1,666
Median Rent
$367,200
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 residential units offer distinct utility metering, laundry connections, and off-street parking.
Where is this duplex located?
The property is located at 42 Albion Street Lowell, MA.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: 2,109 SF duplex with two units, five bedrooms, and two bathrooms; Unit mix includes one 2‑bedroom/1‑bath unit and one 3‑bedroom/1‑bath unit; Separate utilities and washer/dryer connections for each unit
