Information & Resources for 987-989 Middlesex St., Lowell, MA

2 Family Lowell Highlands - Dining Room into Living Room pic - 2nd Fl.
2 Family Lowell Highlands – Dining Room into Living Room pic – 2nd Fl.

Additional Information:

Click here to go back to the Listing Page or click here to view the Featured Listing online.

Mortgage Information:

There are a number of Independent Morgage Brokers and Mortgaging Banks that provide a variety of products that are suitable for each buyer’s personal situation. For First-time Home-buyers who are seeking an FHA Loan, however, this property is not eligible for that particular program. This property is suitable for either a Conventional Loan, FHA 203K Loan, or for Cash Buyers only.

Buyer Financing – Options Include:

  • Conventional Loan or Cash Buyers: Leave current working (Snowmen) furnaces in place – least cost.
  • For FHA 203K Loan Buyers:
    • Remove basement asbestos pipe coverings and currently working Furnaces. Replace Steam Boilers only and leave current steam radiators in place. Work quoted at 17K – rounded up.
    • Replace Fuse Box Electric Panel with New Circuit Breaker Panel and disconnect any remaining knob and tube wiring. Work quoted at 4K – rounded up.
    • Scrape and Paint the house – Work quoted at 10K.
  • Total Costs Quoted: $0 to $31,000.00
  • Click Here For More FHA 203K Rehab Loan Info
  • Click Here For Mass Save Energy Info & to obtain more info on Grants, Rebates, 0% Loans, etc.
    • Grants – Rebates – and 0% Loans for 7 years are available for those who qualify if Buyer wishes to replace currently working furnaces.
  • For those interested in an FHA 203K Loan, many lenders will provide a list of 203K Approved Contractors to work with giving the buyers the ability to choose whatever features, finishes, and/or paint colors they wish for improvements.

Property Tax & Insurance Info:

Info For Tax Years 2016 & 2017:

  • Water/Sewer for two units occupied in 2016 for ten months was $771.41 or $77.14 per month.
  • 2016 Taxes: $3,893.00 / 2017 Taxes: $4115.54
  • 2016 Insurance: $2,694.00 per yr. / 2017 Insurance: (to be updated)

Other Info & Resources (Provided for convenience):

These sources are provided as an alternative to replacing original antique wavy glass windows to improve heating and cooling efficiency and to keep the original character of the home. All four options can be installed and left on all year long to save on both heating and cooling costs.

  • – These are interior inserts that can be left on or are easily removed.
  • – Another company that sells inside application insulating window treatments.
  • – A company that offers new enamel coated exterior storm windows. Comes in various colors to match the exterior.
  • – A Company that builds exterior custom measured wooden storm windows. These windows also have built-in screens which can be left in place all year. They are designed to sit flush inside the window well and not hinder the historical character of a home.


This Property is listed $50,000 below comparative properties of this size and recently sold homes to accommodate for an FHA 203K Rehab Loan Buyer to replace: 2 Furnaces w/asbestos pipe covering removal, Remaining Wiring, and Exterior Paint Upgrades for a quoted cost total, above, of $31,000.  This leaves an additional $19,000 available for any other upgrades a buyer may want which can be rolled into the term of the loan. Please speak with a mortgage broker who is familiar with, and provides, FHA 203K Rehab loans for more information.

Comps of this size and recently Sold multi-family homes within a 1 Mile Radius are provided upon request. For one direct comparison of an active listing, please look-up the property next door, 983-985 Middlesex St.,  MLS# 72303862, listed at $449,000.

If this house is not suitable, and you are a pre-approved buyer, I’d be happy to show you other homes in this area. Give me a call at 978-590-0479, and we can talk further.  I look forward to hearing from you!