18 Pleasant St · Lowell, MA 01852

$524,900

5 bd · 2.0 ba · 1,632 sqft · MultiFamily public records · 45 Days on market

Built 1880 1,742 sqft lot $322/sqft · 9% below area Est $577k · 9% under

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.9/30.0
• ARV discount +11.5/15.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Two Family in Lower Belvidere area. Has vinyl siding, some new windows, fairly recent roof ; both units had lead compliance letters (check with appropriate agencies for verification). Needs some sheetrock repair; winterized, bring flashlight for showings.

Key facts

• Private deck
• Separate utilities
• Private backyard

Tags

• SEPARATE UTILITIES
• WASHER AND DRYER HOOKUPS
• PRIVATE DECK
• PRIVATE BACKYARD
• HIGHLY DESIRABLE LOCATION

Property features AI

Finance

• Other: Property contains two units (2-family, up/down); Basement is full, unfinished, with walk-out access and interior entry; Washer and dryer are tenant-owned (excluded)
• HOA & community: Neighborhood features include public transportation, shopping, parks, medical facility, laundromat, houses of worship, public schools, and a university; Not a senior community

Exterior

• Parking: On-street parking; Open parking available
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Gas available for range; Electric hookup for dryer
• Home design: Two-family, up/down layout; 2 stories
• Construction: Frame construction; Stone and brick/mortar foundation; Rubber roof; Built (year per public records)
• Exterior features: Deck (wood); Balcony/deck; City views; Public road frontage

Interior

• Kitchen: Range; Range hood; Refrigerator
• Flooring: Vinyl flooring; Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: 2 heating units; No central cooling reported
• Interior features: Ceiling fans; Storage space; Bathtub with shower; Living room; Dining room; Total of 11 rooms
• Laundry & utility: Washer hookup; Dryer hookup (electric)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $60 ($718/yr) — positive. Per door: $30/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $428k (18.5% below list).
• Recommended offer: $428k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.9% in Lowell — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#36 in MA, #1,677 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: schools C-, crime F, cost of living F.
• Lowell (suburban): math 20% / reading 28% proficiency, ranked #277 of 302 in MA (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 54 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,670 units permitted in Middlesex County in 2024 (2,611 in 5+ unit buildings).
• At $4,276/mo this rent would consume 63% of the median local household income ($81k/yr) (locally 1816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Middlesex County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($509k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $95k; list at $525k implies a 453% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $427,600 (18.5% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 10.2

CMA / ARV

• ARV (median comp): $576,572
• List price: $524,900
• Delta: -8.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
66 Perry St	0.10mi	4/2.0 (-1)	1,525 (-7%)	4mo	$550,000	$361	76
286 Pleasant St	0.50mi	4/2.0 (-1)	1,764 (+8%)	1mo	$685,000	$388	57
8 Cedar Ct	0.63mi	6/2.0 (+1)	1,534 (-6%)	3mo	$430,000	$280	53
47-49 Cedar St	0.62mi	5/2.0	1,707 (+5%)	18mo	$495,500	$290	48
5-7 Durant St	0.58mi	6/2.0 (+1)	1,581 (-3%)	20mo	$370,000	$234	46
544 Concord St	0.47mi	4/2.0 (-1)	1,467 (-10%)	19mo	$525,000	$358	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.04% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.36×
• Total profit: $-93,738
• Equity at exit: $78,264

10-year hold

• IRR: -17.8%
• Equity multiple: 0.15×
• Total profit: $-125,065
• Equity at exit: $45,384

Cash invested: $146,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 01852

• Home prices YoY: -23.2%
• Rents YoY: 0.0%
• Active inventory: 54
• Price-to-rent: 20.5×

Monthly cashflow live

• Estimated rent: $4,276 high
• Mortgage (P&I): −$2,753
• Tax from tax record: −$347 /mo · $4,162/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$898
• Net cashflow: $60

Break-even live

Break-even rent $4,200

Max offer price $524,900

Occupancy floor 94%

Sensitivity live

Price	-10% $357	-5% $208	+0% $60	+5% $-89	+10% $-237
Rent	-10% $-278	-5% $-109	+0% $60	+5% $229	+10% $398
Rate	-1.0pp $324	-0.5pp $193	base $60	+0.5pp $-76	+1.0pp $-215

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,276
Total (2 units)			$4,276

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $131,225
• Closing costs: $15,747
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
58 Willow St Lowell, MA	4.0	1.5	1233	$3,000	$2.43	45d	1	0.16mi
50 Willow St Unit 50 Lowell, MA	5.0	1.5	1763	$3,500	$1.99	45d	1	0.17mi
277 E Merrimack St Unit 1 Lowell, MA	4.0	1.0	1600	$2,400	$1.50	26d	1	0.22mi
738 Central St Unit 2 Lowell, MA	4.0	1.0	1100	$2,600	$2.36	45d	1	0.38mi
17 Bassett St Unit A Lowell, MA	5.0	1.5	1600	$2,850	$1.78	26d	1	0.42mi
17 Bassett St Lowell, MA	5.0	1.0	1600	$2,850	$1.78	24d	1	0.42mi
1000 Central St Unit 2 Lowell, MA	4.0	1.5	2060	$2,750	$1.33	45d	1	0.63mi
1 Merrimack Plz Lowell, MA	1.0–4.0	1.0–2.0	823	$3,600	$4.37	0d	13	0.69mi
45 W 5th St Unit 2 Lowell, MA	4.0	1.0	1200	$2,750	$2.29	17d	1	0.80mi
59 Fulton St Lowell, MA	4.0	2.0	1793	$3,500	$1.95	26d	1	0.88mi
36 Cork St #36 Lowell, MA	4.0	1.0	1092	$3,150	$2.88	45d	1	0.88mi
36 Cork St #36 Lowell, MA	4.0	1.0	1092	$3,150	$2.88	26d	1	0.88mi
36 Cork St Lowell, MA	4.0	1.0	1092	$3,450	$3.16	45d	1	0.88mi
25 Ware St Unit 1 Lowell, MA	4.0	1.0	1450	$3,000	$2.07	45d	1	0.96mi
89 Bunker Hill Ave Unit 1 Lowell, MA	4.0	1.0	1622	$3,400	$2.10	26d	1	1.06mi
58 Temple St Unit 58-60 Temple St, 1st Fl Lowell, MA	4.0	2.0	1150	$2,185	$1.90	18d	1	1.08mi
58 Temple St Unit 58-60 Temple St, 2nd fl Lowell, MA	4.0	1.0	1100	$2,085	$1.90	18d	1	1.08mi
151 Salem St Apt 1 Lowell, MA	4.0	1.0	1200	$2,900	$2.42	45d	1	1.20mi
6 Dalton St Unit 3 Lowell, MA	4.0	1.0	1150	$2,750	$2.39	22d	1	1.23mi
3 Butman Pl Lowell, MA	4.0	1.0	1406	$3,000	$2.13	45d	1	1.30mi
76 Mount Vernon St Unit 1 Lowell, MA	4.0	1.0	1400	$2,995	$2.14	7d	1	1.32mi
76 Mount Vernon St Lowell, MA	4.0	1.0	1400	$2,995	$2.14	26d	1	1.32mi
21 Riverby St Lowell, MA	4.0	2.0	2000	$4,200	$2.10	12d	1	1.47mi

Listing history 34 events

1. 2026-06-21
   statusdays on market $524,900 Active 45 DOM
2. 2026-06-18
   days on market $524,900 Price Changed 42 DOM
3. 2026-06-17
   days on market $524,900 Price Changed 41 DOM
4. 2026-06-16
   days on market $524,900 Price Changed 40 DOM
5. 2026-06-15
   pricestatus $524,900 Price Changed 39 DOM
6. 2026-06-15
   days on market $549,900 Active 39 DOM
7. 2026-06-13
   days on market $549,900 Active 37 DOM
8. 2026-06-13
   days on market $549,900 Active 36 DOM
9. 2026-06-09
   days on market $549,900 Active 33 DOM
10. 2026-06-08
    days on market $549,900 Active 32 DOM
11. 2026-06-07
    days on market $549,900 Active 31 DOM
12. 2026-06-04
    days on market $549,900 Active 28 DOM
13. 2026-06-03
    days on market $549,900 Active 27 DOM
14. 2026-06-02
    days on market $549,900 Active 26 DOM
15. 2026-06-01
    days on market $549,900 Active 25 DOM
16. 2026-05-31
    days on market $549,900 Active 24 DOM
17. 2026-05-07
    listed $549,900 New 798-char remark
18. 2008-04-11
    soldstatus $95,000 255-char remark

    Show marketing remark (255 chars)

    Two Family in Lower Belvidere area. Has vinyl siding, some new windows, fairly recent roof ; both units had lead compliance letters (check with appropriate agencies for verification). Needs some sheetrock repair; winterized, bring flashlight for showings.

19. 2008-01-21
    historical 255-char remark

    Show marketing remark (255 chars)

    Two Family in Lower Belvidere area. Has vinyl siding, some new windows, fairly recent roof ; both units had lead compliance letters (check with appropriate agencies for verification). Needs some sheetrock repair; winterized, bring flashlight for showings.

20. 2007-07-31
    listed $105,000 255-char remark

    Show marketing remark (255 chars)

    Two Family in Lower Belvidere area. Has vinyl siding, some new windows, fairly recent roof ; both units had lead compliance letters (check with appropriate agencies for verification). Needs some sheetrock repair; winterized, bring flashlight for showings.

21. 2006-02-10
    soldstatus $319,000
22. 2006-02-10
    soldstatus $319,000
23. 2006-02-10
    soldstatus $319,000
24. 2005-09-12
    soldstatus $258,000

    Show marketing remark (214 chars)

    BELVIDERE AREA, TWO FAMILY, VACANT WITH NEW WINDOWS, TWO-YEAR OLD ROOF, FINISHED BASEMENT. CLEAN AND READY TO GO!! LETTERS OF FULL LEAD COMPLIANCE ON FILE. MOTIVATED SELLER, “LET’S NEGOTIATE”!!

25. 2005-09-08
    soldstatus $258,000
26. 2005-09-08
    soldstatus $258,000
27. 2005-07-21
    historical

    Show marketing remark (214 chars)

    BELVIDERE AREA, TWO FAMILY, VACANT WITH NEW WINDOWS, TWO-YEAR OLD ROOF, FINISHED BASEMENT. CLEAN AND READY TO GO!! LETTERS OF FULL LEAD COMPLIANCE ON FILE. MOTIVATED SELLER, “LET’S NEGOTIATE”!!

28. 2005-06-02
    listed $249,900

    Show marketing remark (214 chars)

    BELVIDERE AREA, TWO FAMILY, VACANT WITH NEW WINDOWS, TWO-YEAR OLD ROOF, FINISHED BASEMENT. CLEAN AND READY TO GO!! LETTERS OF FULL LEAD COMPLIANCE ON FILE. MOTIVATED SELLER, “LET’S NEGOTIATE”!!

29. 1999-03-01
    soldstatus $98,350
30. 1999-03-01
    soldstatus $98,350
31. 1997-10-31
    soldstatus $58,500
32. 1997-09-11
    historical
33. 1997-03-31
    listed $63,000
34. 1994-01-19
    soldstatus $36,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $4,162 · $347/mo
• Projected year-2 tax: $5,309 · $442/mo
• Expected delta: +$1,147/yr (+$96/mo · 27.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,312
• − Mortgage interest: −$29,403
• − Property taxes: −$4,162
• − Insurance: −$2,624
• − Repairs & maintenance: −$4,105
• − Management: −$4,105
• − Depreciation: −$15,270
• Taxable loss: −$8,357
• Est. tax savings @ 24.0%: +$2,006
• After-tax cash flow: $2,724/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lowell
• NCES district ID: 2507020
• Math proficiency: 20% ▼ -18.00%
• Reading proficiency: 28% ▼ -11.00%
• Median HH income: $49,291
• Composite: 21.14/100
• National rank: #8430
• State rank: #277 of 302 in MA

Livability — Lowell

• Score: 80/100
• State rank: #36
• US rank: #1677

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B- Housing A Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lowell, MA
• County: Middlesex County · 1,437,704 people
• City population: 100,628
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 37,144
• Household income: $80,906
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1816.0

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 1,740,269 people
• By 2030: 1,817,187 · +4.4%
• By 2040: 1,963,195 · +12.8%
• By 2050: 2,087,461 · +20.0%
• By 2075: 2,344,036 · +34.7%
• By 2100: 2,383,776 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 53% Hispanic / Latino 17% Asian 15% Two or more races 9% Black 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 8% Dominican 2%
• Common ancestry: Russian 7% Lithuanian 5% Estonian 4%
• Foreign-born: 28% · Canada, Vietnam, Jamaica
• Languages at home: 60% English-only · Other Indo-European 13% Spanish 12% Other Asian/Pacific 8%

Political lean MEDSL · Middlesex

• 2024 margin: Solid D (+39.5) · D 68.5% · R 29.0% · Other 2.5%
• 2008→2024 swing: +9.3pp toward D · 2008: 30.1pp · 2024: 39.5pp
• All cycles: 2024: D+39.5 2020: D+45.2 2016: D+38.1 2012: D+26.9 2008: D+30.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.95%
• Current HPI: 416.1634
• Rent YoY: ▬ 0.04%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

+1358.1% since first listed

19 events — show timeline

• 2026-06-15 Price Changed $524,900 MLS PIN
• 2026-05-07 Listed $549,900 MLS PIN
• 2008-04-11 Sold (MLS) $95,000 MLS PIN
• 2008-01-21 Listing Removed — MLS PIN
• 2007-07-31 Listed $105,000 MLS PIN
• 2006-02-10 Sold (Public Records) $319,000 Public Records
• 2006-02-10 Sold (Public Records) $319,000 Public Records
• 2006-02-10 Sold (Public Records) $319,000 Public Records
• 2005-09-12 Sold (MLS) $258,000 MLS PIN
• 2005-09-08 Sold (Public Records) $258,000 Public Records
• 2005-09-08 Sold (Public Records) $258,000 Public Records
• 2005-07-21 Listing Removed — MLS PIN
• 2005-06-02 Listed $249,900 MLS PIN
• 1999-03-01 Sold (Public Records) $98,350 Public Records
• 1999-03-01 Sold (Public Records) $98,350 Public Records
• 1997-10-31 Sold (MLS) $58,500 MLS PIN
• 1997-09-11 Listing Removed — MLS PIN
• 1997-03-31 Listed $63,000 MLS PIN
• 1994-01-19 Sold (Public Records) $36,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $4,162 · +6.1% YoY. Source: county tax records.