59 Lancaster St, Leominster, MA 01453
Two separate units with fireplaces, beamed ceilings, enclosed three-season porches, and off-street parking via separate driveways.
- Added:
- Apr 8, 2026
- Days on Market:
- 89
- Last Refresh:
- Jul 4 at 2:35 am
Property Features for 59 Lancaster St
General Information
- Standard status
- Active
- Size
- 2,202 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1860
Listing office Karen M. Overtoom R.E. (978) 578-5013
Listing date Apr 8, 2026
Source Churchillprop
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 Karen M. Overtoom R.E.
HighLights
- Year built 1860 with two separate units
- Each unit features a fireplace and beamed ceiling
- Enclosed three‑season porch provides additional usable space
- Separate driveways offer off‑street parking for each unit
- Two‑family setup suitable for rental income or owner occupancy
Overview
The home is conveniently located near shopping, local amenities, and commuter routes, making it practical for tenants and owner-occupants who want day-to-day accessibility.
For buyers seeking rental income or an owner-occupied option, the separate-unit setup and dedicated off-street parking can simplify tenant arrangements and day-to-day use. Each unit’s enclosed porch and fireplace-equipped living room can support a wide range of household needs, while the overall two-family configuration provides flexibility for how the property is occupied or leased.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.6k | $19.80 |
| − Vacancy | −$1.1k | −$0.49 |
| EGI | $42.5k | $19.31 |
| − OpEx | −$12.8k | −$5.79 |
| NOI | $29.8k | $13.52 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Leominster
- County
- Worcester
- State
- Massachusetts
- Longitude
- -71.7568364
- Latitude
- 42.5222432
