Updated Duplex
New
For Sale
$769,900
220 University Avenue, Lowell, MA 01854
Two-unit residential property with refreshed interiors, off-street parking, and a low-maintenance backyard.
Property Size2,815 SF
Price / SF$273.50
Days on Market7
Property Features for 220 University Avenue
General Information
Standard status
Active
Size
2,815 SF
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
backyard
Building Details
Year Built
1930
Listing Agency:
LAER Realty Partners
(617) 327-7500
Listed By:
The Rogers / Melo Team
Source:
Stevebremis
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 10:12AM
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 LAER Realty Partners
Investment Insights
Based on property information with market context.
This duplex contains 2,815 square feet across two residential units, each arranged with practical living areas and updated interior finishes. The property also provides off-street parking and a compact backyard suited to outdoor use without extensive upkeep. Built in 1930, the building combines an established structure with interior improvements that support immediate residential occupancy.
The property is situated near a university and provides access to public transportation, shopping, restaurants, and other local amenities. Its two-unit configuration offers separate residential spaces within one building, with outdoor and parking features serving the overall property.
The property is situated near a university and provides access to public transportation, shopping, restaurants, and other local amenities. Its two-unit configuration offers separate residential spaces within one building, with outdoor and parking features serving the overall property.
Key Highlights
- Two‑family duplex with 2,815 square feet
- Updated finishes in both residential units
- Off‑street parking included
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
$55,775
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
7.24%
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%
$1,115,500
$1.1M
Cap Rate 7%
$796,786
$796.8K
Cap Rate 9%
$619,722
$619.7K
Market Conditions
NOI Build-Up for 2,815 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
$86.1K $30.60/SF
− Vacancy
−$6.5K −$2.30/SF
EGI
$79.7K $28.31/SF
− OpEx
−$23.9K −$8.49/SF
NOI
$55.8K $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%
$1,115,500
Cap Rate 7%
$796,786
Cap Rate 9%
$619,722
Alternative Uses
Best Use
Multifamily LT 5
$796.8K
$697.2K – $929.6K
NOI $55,775 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$717.4K
$627.7K – $836.9K
NOI $50,215 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$990.8K
$866.9K – $1.16M
NOI $69,354 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,013
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 - Two-unit residential property with refreshed interiors, off-street parking, and a low-maintenance backyard.
Where is this duplex located?
The property is located at 220 University Avenue Lowell, MA.
What is the asking price?
The asking price for this property is $769,900.
What are key features of this property?
This property features: Two‑family duplex with 2,815 square feet; Updated finishes in both residential units; Off‑street parking included
