Two-Unit Duplex with Paved
For Sale
$709,000
56-58 Pine St, Lowell, MA 01851
Residential Income, Lowell, MA
Property Size2,573 SF
Lot Size0.11 Acres
Price / SF$275.55
Days on Market47
Property Features for 56-58 Pine St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
TMF
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 2
Parking
8
Elementary school
Morey
Middle school
Daley
High school
Lowell High School
Directions
Use GPS
Subdivision
Highlands
Standard status
Active
APN
M: 104 B: 4655 L: 56
Size
2,573 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5954
Building Details
Year built
1870
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty-Merrimack
(978) 692-3280
Listed By:
Claire Ryan
(978) 996-8287
Added: Jul 20
Changed: Sep 3
Last Checked: Sep 4 at 3:06PM
MLS# 73552415
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,573 square feet and was built in 1870. Each residence offers three bedrooms and one full bathroom, providing a consistent configuration across both floors. The first-floor unit has an in-unit washer and dryer, while the second-floor residence provides a bright, functional layout with ample living space. Both units will be delivered vacant.
The property occupies a 0.11-acre lot at 56-58 Pine St in Lowell, Massachusetts. The fully paved parking area can accommodate over 8 cars. The home is located near schools, parks, shopping, restaurants, major highways, and public transportation. Zoning is TMF.
The property occupies a 0.11-acre lot at 56-58 Pine St in Lowell, Massachusetts. The fully paved parking area can accommodate over 8 cars. The home is located near schools, parks, shopping, restaurants, major highways, and public transportation. Zoning is TMF.
Key Highlights
- Two‑unit duplex with 2,573 square feet, built in 1870
- Each unit includes 3 bedrooms and 1 full bathroom
- First‑floor residence has an in‑unit washer and dryer
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
Yes
Highway access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-family property with matching three-bedroom layouts and convenient access to shopping, transportation, and major highways.
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‑unit duplex with 2,573 square feet, built in 1870; Each unit includes 3 bedrooms and 1 full bathroom; First‑floor residence has an in‑unit washer and dryer
