Renovated Lower Belvidere
For Sale
$849,900
50-52 Willow Street, Lowell, MA 01852
Tri-level duplex with upgraded plumbing and electrical, new kitchens and baths, and laundry hookups in the basement.
Property Size3,527 SF
Price / SF$240.97
Days on Market36
Property Features for 50-52 Willow Street
General Information
Standard status
Active
Size
3,527 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1905
Listing Agency:
Universal Property Management
Listed By:
Brian Donoghue
(978) 922-3683
Source:
Jbarrettrealty
Added: Jul 8
Changed: Aug 11
Last Checked: Aug 12 at 3:31AM
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 Universal Property Management
Investment Insights
Based on property information with market context.
This beautifully renovated Lower Belvidere duplex offers tri-level living on each side with a substantial interior footprint. Each unit includes a large first-floor eat-in kitchen, an oversized living room/dining room combination, and both a full bath and a half bath. The second level provides three bedrooms, with an additional two bedrooms on the third floor. Laundry hookups are located in the basement, and the building has upgraded plumbing and electrical. Updates also include newly renovated kitchens and baths, new flooring, and fresh paint, complemented by low-maintenance vinyl siding and replacement windows.
Parking is on-street, and the property is described as having convenient access to downtown, major routes, parks, shopping, and other nearby amenities.
With one unit currently under lease, the duplex can work for either an owner-occupant or a long-term investment holding. A lead certificate is in hand.
Parking is on-street, and the property is described as having convenient access to downtown, major routes, parks, shopping, and other nearby amenities.
With one unit currently under lease, the duplex can work for either an owner-occupant or a long-term investment holding. A lead certificate is in hand.
Key Highlights
- 1905‑built Lower Belvidere duplex with renovated tri‑level layouts on both sides
- Each unit includes a large first‑floor eat‑in kitchen plus oversized living/dining room combo
- Unit layout offers 3 bedrooms on the second level and 2 additional bedrooms on the third floor
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
$69,882
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
8.22%
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%
$1,397,640
$1.4M
Cap Rate 7%
$998,314
$998.3K
Cap Rate 9%
$776,467
$776.5K
Market Conditions
NOI Build-Up for 3,527 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
$107.9K $30.60/SF
− Vacancy
−$8.1K −$2.30/SF
EGI
$99.8K $28.31/SF
− OpEx
−$29.9K −$8.49/SF
NOI
$69.9K $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%
$1,397,640
Cap Rate 7%
$998,314
Cap Rate 9%
$776,467
Alternative Uses
Best Use
Multifamily LT 5
$998.3K
$873.5K – $1.16M
NOI $69,882 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$898.8K
$786.5K – $1.05M
NOI $62,916 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,896 @ 7.0% cap · market cap 10.22%
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
1,986
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 - Tri-level duplex with upgraded plumbing and electrical, new kitchens and baths, and laundry hookups in the basement.
Where is this duplex located?
The property is located at 50-52 Willow Street Lowell, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 1905‑built Lower Belvidere duplex with renovated tri‑level layouts on both sides; Each unit includes a large first‑floor eat‑in kitchen plus oversized living/dining room combo; Unit layout offers 3 bedrooms on the second level and 2 additional bedrooms on the third floor
