Two-Unit Duplex with Off-Street
448 Stevens Street, Lowell, MA 01851
For Sale
New
$599,000
Separate living and dining areas, ample storage, and off-street parking serve the property's two units.
Property Size1,900 SF
Price / SF$199.14
Days on Market5
Property Features for 448 Stevens Street
General Information
Standard status
Size
Property subtype
Lease Term
Site & Location
Neighborhood
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Dick Lepine Real Estate,Inc.
(978) 441-2100
Listed By:
Salihu Mohammed · License #456000547
(978) 479-4635
Source:
Iverty
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 7 at 4:53AM
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 Dick Lepine Real Estate,Inc.
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Investment Insights
Based on property information with market context.
Built in 1900, this 3,008-square-foot duplex contains two distinct units. One offers 8 rooms, including 4 bedrooms and 1 bath, with hardwood floors, a dining room, living room, and family room. The other has 4 rooms, 2 bedrooms, and 2 baths. Storage is available in both the attic and basement. The exterior features vinyl siding, and the property has newer windows and doors.
The property is in Lowell, near shopping, parks, schools, restaurants, a cinema, a pharmacy, and a T station. Routes 3, 495, and 93 are accessible from the area.
The property is in Lowell, near shopping, parks, schools, restaurants, a cinema, a pharmacy, and a T station. Routes 3, 495, and 93 are accessible from the area.
Key Highlights
- Two‑unit duplex totaling 3,008 square feet
- One unit has 8 rooms, 4 bedrooms, and 1 bath; the other has 4 rooms, 2 bedrooms, and 2 baths
- Hardwood floors, dining room, living room, and family room in the larger unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,658
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,073,160
$1.1M
Cap Rate 7%
$766,543
$766.5K
Cap Rate 9%
$596,200
$596.2K
Market Conditions
NOI Build-Up for 3,008 SF
Gross rent
$104.7K $34.80/SF
− Vacancy
−$7.1K −$2.37/SF
EGI
$97.6K $32.43/SF
− OpEx
−$43.9K −$14.60/SF
NOI
$53.7K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,073,160
Cap Rate 7%
$766,543
Cap Rate 9%
$596,200
Alternative Uses
Best Use
Multifamily LT 5
$851.4K
$745.0K – $993.3K
NOI $59,599 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$766.5K
$670.7K – $894.3K
NOI $53,658 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$1.06M
$926.4K – $1.24M
NOI $74,109 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 01851, MA
32,691
Population
11,759
Households
2.8
Avg Household Size
34
Median Age
32%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
10,216
Density / Sq Mi
$87,962
Median Household Income
$46,388
Median Earnings
$1,686
Median Rent
$432,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Lowell, MA
Properties on Market for Duplexes in Lowell
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate living and dining areas, ample storage, and off-street parking serve the property's two units.
Where is this duplex located?
The property is located at 448 Stevens Street Lowell, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,008 square feet; One unit has 8 rooms, 4 bedrooms, and 1 bath; the other has 4 rooms, 2 bedrooms, and 2 baths; Hardwood floors, dining room, living room, and family room in the larger unit
