Three-Story Two-Unit
For Sale
$739,900
Pending
52-54 Bowden St, Lowell, MA 01852
Two-family home with multiple bedrooms, three electrical panels, composite decks, and off-street parking for four cars.
Property Size3,264 SF
Days on Market27
Property Features for 52-54 Bowden St
General Information
Standard status
Pending
Size
3,264 SF
Total Parking Spaces
4
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Building Size
3,264 SF
Year Built
1893
Stories
3
Listing Agency:
Coldwell Banker Realty - Haverhill
(978) 758-6821
Listed By:
Sandra Spicer · License #452508574
(978) 758-6821
Source:
Iverty
Added: Jul 22
Changed: Aug 8
Last Checked: Jul 27 at 5:29AM
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 Coldwell Banker Realty - Haverhill
Investment Insights
Based on property information with market context.
This three-story two-family residence offers 3,000+ sq. ft. of living space on a low-maintenance lot. Each first- and second-floor unit includes two bedrooms plus a bonus room for flexible layouts. The third floor adds two additional bedrooms and a full bath, providing extra space that may support a variety of living arrangements, subject to due diligence and any required approvals.
The property features three electrical panels, some updated plumbing, and two composite decks. Off-street parking is available for four cars. It is located for convenient commuting, with access to Routes 3 and 495 a few miles away, and the commuter rail less than 2 miles from the property.
Buyers should verify the best use of the third-floor layout and any permitting requirements through their own due diligence.
The property features three electrical panels, some updated plumbing, and two composite decks. Off-street parking is available for four cars. It is located for convenient commuting, with access to Routes 3 and 495 a few miles away, and the commuter rail less than 2 miles from the property.
Buyers should verify the best use of the third-floor layout and any permitting requirements through their own due diligence.
Key Highlights
- Two‑family home built in 1893 with 3,000+ sq. ft. of living space on a low‑maintenance lot
- Each first- and second‑floor unit has 2 bedrooms plus a bonus room for flexible living layouts
- Third floor includes 2 additional bedrooms and a full bath for potential multi‑generational or other use
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
$64,671
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
8.74%
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%
$1,293,420
$1.3M
Cap Rate 7%
$923,871
$923.9K
Cap Rate 9%
$718,567
$718.6K
Market Conditions
NOI Build-Up for 3,264 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
$99.9K $30.60/SF
− Vacancy
−$7.5K −$2.30/SF
EGI
$92.4K $28.31/SF
− OpEx
−$27.7K −$8.49/SF
NOI
$64.7K $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%
$1,293,420
Cap Rate 7%
$923,871
Cap Rate 9%
$718,567
Alternative Uses
Best Use
Multifamily LT 5
$923.9K
$808.4K – $1.08M
NOI $64,671 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$831.8K
$727.8K – $970.4K
NOI $58,225 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,417 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
220
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 home with multiple bedrooms, three electrical panels, composite decks, and off-street parking for four cars.
Where is this duplex located?
The property is located at 52-54 Bowden St Lowell, MA.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: Two‑family home built in 1893 with 3,000+ sq. ft. of living space on a low‑maintenance lot; Each first- and second‑floor unit has 2 bedrooms plus a bonus room for flexible living layouts; Third floor includes 2 additional bedrooms and a full bath for potential multi‑generational or other use
