Two-Story
For Sale
$575,000
256 University Ave, Lowell, MA 01854
Residential Income, Lowell, MA
Property Size2,404 SF
Lot Size0.08 Acres
Price / SF$239.18
Days on Market16
Property Features for 256 University Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
TMU
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Parking
2
Elementary school
Lps
Middle school
Lps
High school
Lps Or Glths
Directions
From 113, take University Avenue north. Property will be on the left.
Subdivision
Pawtucketville
Standard status
Active
APN
M:96 B:5830 L:256,3179317
Size
2,404 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5941
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Innovative Properties · RE/MAX International
(978) 452-4432
Listed By:
Joshua Naughton · License #57445
(603) 434-4101
Added: Aug 16
Changed: Aug 20
Last Checked: Aug 31 at 2:06AM
MLS# 73564341
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 2,404-square-foot duplex was built in 1910 and is arranged across two stories on a 0.08-acre lot. Both units are configured with three bedrooms, a kitchen, living room, and full bathroom. The property will be delivered vacant, while the attic may provide an avenue for additional living area. An updated high-efficiency furnace serves the first floor, and off-street parking is available.
Located at 256 University Ave in Lowell, the property is near UMass Lowell, shopping, restaurants, and downtown. TMU zoning is identified for the site. The existing layout and vacant delivery provide a clear starting point for renovation and customization.
Located at 256 University Ave in Lowell, the property is near UMass Lowell, shopping, restaurants, and downtown. TMU zoning is identified for the site. The existing layout and vacant delivery provide a clear starting point for renovation and customization.
Key Highlights
- 2,404 SF duplex on a 0.08‑acre lot
- Two units, each with 3 bedrooms, kitchen, living room, and full bathroom
- Delivered vacant for renovation and customization
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
$47,632
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
8.28%
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%
$952,640
$952.6K
Cap Rate 7%
$680,457
$680.5K
Cap Rate 9%
$529,244
$529.2K
Market Conditions
NOI Build-Up for 2,404 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
$73.6K $30.60/SF
− Vacancy
−$5.5K −$2.30/SF
EGI
$68.0K $28.31/SF
− OpEx
−$20.4K −$8.49/SF
NOI
$47.6K $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%
$952,640
Cap Rate 7%
$680,457
Cap Rate 9%
$529,244
Alternative Uses
Best Use
Multifamily LT 5
$680.5K
$595.4K – $793.9K
NOI $47,632 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$612.6K
$536.1K – $714.7K
NOI $42,884 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$846.1K
$740.4K – $987.1K
NOI $59,228 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
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-unit property with three bedrooms per unit, off-street parking, and an attic that may support added space.
Where is this duplex located?
The property is located at 256 University Ave Lowell, MA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,404 SF duplex on a 0.08‑acre lot; Two units, each with 3 bedrooms, kitchen, living room, and full bathroom; Delivered vacant for renovation and customization
