Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lowell Multi-Family Investment Opportunity Title is generated by Realmo AI

    492 Fletcher St, Lowell, MA 01854

    View on Map
    Claim this Listing
    For Sale
    $649,900

    MULTI_FAMILY - Lowell, MA

    Property size:
    2,406 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $270/SF
    Added:
    May 3, 2026
    Days on Market:
    20
    Last Refresh:
    May 22 at 6:06 am

    Property Features for 492 Fletcher St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    USF
    Bedrooms
    6
    Bathrooms
    2
    Rooms
    Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 3
    Standard status
    Active
    APN
    M:117 B:2340 L:492,3182443
    Size
    2,406 SF
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5133

    Building Details

    Year built
    1880
    Floors in Building
    2
    Number of units
    2

    We can help!

    Listing Contact
    Joshua Naughton
    Joshua Naughton

    Listing agent Joshua Naughton License #57445

    Listing office RE/MAX Innovative Properties 81 Farmland Road, Londonderry, MA

    Listing date May 3, 2026

    MLS# 73511911 Listing URL

    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.

    HighLights

    • Strong investment opportunity with both units currently occupied.
    • Each unit features three bedrooms, maximizing rental income potential.
    • Separate utilities simplify management and expense control.
    • Ideally located near University of Massachusetts Lowell, ensuring consistent tenant demand.
    • Convenient access to major routes, public transportation, and downtown Lowell.
    • Lead Certificates are in hand.

    Overview

    Located at 492 Fletcher Street in Lowell, this multi-family property presents a strong investment opportunity. The property features two units, each containing three bedrooms, offering excellent rental potential in a high-demand area. The location near the University of Massachusetts Lowell positions the property to attract consistent tenant demand from students, faculty, and local workforce renters. Separate utilities simplify management, allowing investors to control expenses and maximize cash flow. Convenient access to major routes, public transportation, and downtown Lowell amenities further enhances the property's appeal. The property, zoned USF, sits on a lot of approximately 0.05 acres. The building has a size of 2406 square feet. This property represents a solid addition to any portfolio or a great opportunity for an owner-occupant looking to offset their mortgage with rental income. Lead Certificates are in hand. The property is being sold with both units occupied.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $529.7K
    NOI $47,671 @ 9.00% cap · cautious / downside scenario
    Moderate
    $681.0K
    NOI $47,671 @ 7.00% cap · market / base-case scenario
    Aggressive
    $953.4K
    NOI $47,671 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $73.6k $30.60
    − Vacancy −$5.5k −$2.30
    EGI $68.1k $28.31
    − OpEx −$20.4k −$8.49
    NOI $47.7k $19.81
    2,406 SF · lease $30.60/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $681.0K
    $595.9K – $794.5K (±1% cap)
    NOI $47,671 @ 7.0% cap · market cap 7.34%
    Second Best
    Apartment 5plus
    $613.1K
    $536.5K – $715.3K (±1% cap)
    NOI $42,919 @ 7.0% cap · market cap 6.60%
    Theoretical Best
    Office A
    $846.8K
    $741.0K – $988.0K (±1% cap)
    NOI $59,278 @ 7.0% cap · market cap 9.12%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lowell
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.323944
    Latitude
    42.647589

    Nearby Similar for Sale

    • $675,000
      3,064 SF

      Spacious Two-Family Home in Lowell

      Two-family home near shopping, T-station, and Lowell Connector.
      27 Shaw St, Lowell, MA 01851
      View Details
    • $750,000
      3,774 SF

      Mixed-Use Property in Lowell, MA

      Mixed-use property with commercial space and residential unit.
      525 Chelmsford St, Lowell, MA 01851
      View Details
    • $549,900
      1,632 SF

      Well-Maintained Two-Family Lowell Property

      Two-family property in Lowell with strong income potential.
      18 Pleasant St, Lowell, MA 01852
      View Details
    • $849,900
      3,200 SF

      South Lowell Multi-Family Investment

      Well-maintained three-unit property in a convenient Lowell location.
      339 Lincoln St, Lowell, MA 01852
      View Details
    • $649,900
      1,764 SF

      Lowell Duplex with Vacant Units

      Well-maintained duplex in Lowell, ideal for owner-occupants or investors.
      286 Pleasant St, Lowell, MA 01852
      View Details
    • $749,900
      3,003 SF

      Spacious Lowell Triplex with Garage

      Three-family residence in Lowell, ready for occupancy.
      89 Mammoth Rd, Lowell, MA 01854
      View Details
    • $924,999
      3,450 SF

      Multifamily Property with Parking

      Multifamily property in Lowell with strong rental potential and parking.
      6-8 Dalton St, Lowell, MA 01850
      View Details
    • $1,300,000
      7,178 SF

      Mixed-Use Building Near UMASS Lowell

      Five-unit mixed-use building with retail space and residential units.
      169-171 Salem St, Lowell, MA 01854
      View Details
    • $625,000
      1,872 SF

      Well-Maintained Two-Family Home

      Two-family home in Lowell, MA, ideal for rental income.
      9 Baltimore Ave, Lowell, MA 01851
      View Details
    • $400,000

      Commercial Building and Auto Repair

      Commercial building with auto repair business for sale.
      72 First St, Lowell, MA 01850
      View Details
    • $394,900

      Dutton Building Mixed-Use Loft

      Loft-style mixed-use space in historic Dutton Building.
      491 Dutton St #209, Lowell, MA 01854
      View Details
    • $749,900
      3,003 SF

      Spacious Lowell Triplex with Garage

      Three-family residence with sunroom, garage, and ample living space.
      89 Mammoth Rd, Lowell, MA 01854
      View Details

    FAQs

    What type of property is this?
    Duplex - Multi-family property with two 3-bedroom units near UMass Lowell.
    Where is this duplex located?
    The property is located at 492 Fletcher St Lowell, MA.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: Strong investment opportunity with both units currently occupied.; Each unit features three bedrooms, maximizing rental income potential.; Separate utilities simplify management and expense control.
    (603) 434-4101
    We can help!
    Listing Contact
    Joshua Naughton
    Joshua Naughton
    Real Estate License ID: 57445
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    492 Fletcher St, Lowell, MA 01854
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!