Two-Unit Residential Income
For Sale
$709,000
56-58 Pine St, Lowell, MA 01851
Well-maintained duplex with two 3-bedroom units, separate gas and electric meters, and a fully paved lot with parking for more than eight cars.
Property Size2,573 SF
Price / SF$275.55
Days on Market49
Property Features for 56-58 Pine St
General Information
Standard status
Active
Size
2,573 SF
Property subtype
2 Family - 2 Units Up/Down
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1870
Tenancy
Multi
Listing Agency:
Keller Williams Realty-Merrimack
(978) 692-3280
Listed By:
Timmy Thok
(917) 400-1518
Source:
Lockandkeyre
Added: Jul 20
Changed: Sep 6
Last Checked: Sep 6 at 6:21AM
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 Keller Williams Realty-Merrimack
Investment Insights
Based on property information with market context.
This well-maintained two-family duplex includes two separate units, each offering a spacious layout with 3 bedrooms and 1 full bathroom. The first-floor unit includes the added convenience of an in-unit washer and dryer, while the second-floor unit offers a bright, functional floor plan with generous living space. Gas and electric are separately metered, and both units will be delivered vacant.
Located in the Highlands neighborhood of Lowell, Massachusetts at 56–58 Pine St, the property is positioned near schools, parks, shopping, restaurants, major highways, and public transportation.
Outside, the property features a fully paved lot that can accommodate more than eight vehicles. Open house is scheduled for Friday, July 24 from 4–6 pm, Saturday, July 25 from 11 am–1 pm, and Sunday, July 26 from 11 am–1 pm.
Located in the Highlands neighborhood of Lowell, Massachusetts at 56–58 Pine St, the property is positioned near schools, parks, shopping, restaurants, major highways, and public transportation.
Outside, the property features a fully paved lot that can accommodate more than eight vehicles. Open house is scheduled for Friday, July 24 from 4–6 pm, Saturday, July 25 from 11 am–1 pm, and Sunday, July 26 from 11 am–1 pm.
Key Highlights
- Two‑family home built in 1870 with two spacious units, each offering 3 bedrooms and 1 full bathroom
- First‑floor unit includes in‑unit washer and dryer
- Gas and electric are separately metered for 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
$50,980
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
7.19%
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%
$1,019,600
$1.0M
Cap Rate 7%
$728,286
$728.3K
Cap Rate 9%
$566,444
$566.4K
Market Conditions
NOI Build-Up for 2,573 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
$78.7K $30.60/SF
− Vacancy
−$5.9K −$2.30/SF
EGI
$72.8K $28.31/SF
− OpEx
−$21.8K −$8.49/SF
NOI
$51.0K $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%
$1,019,600
Cap Rate 7%
$728,286
Cap Rate 9%
$566,444
Alternative Uses
Best Use
Multifamily LT 5
$728.3K
$637.3K – $849.7K
NOI $50,980 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$655.7K
$573.7K – $765.0K
NOI $45,898 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$905.6K
$792.4K – $1.06M
NOI $63,392 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,119
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
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 - Well-maintained duplex with two 3-bedroom units, separate gas and electric meters, and a fully paved lot with parking for more than eight cars.
Where is this duplex located?
The property is located at 56-58 Pine St Lowell, MA.
What is the asking price?
The asking price for this property is $709,000.
What are key features of this property?
This property features: Two‑family home built in 1870 with two spacious units, each offering 3 bedrooms and 1 full bathroom; First‑floor unit includes in‑unit washer and dryer; Gas and electric are separately metered for both units
