Two-Unit
New
For Sale
$419,900
24 Nichols St, Lowell, MA 01851
Two distinct living areas provide separate residential spaces within one property.
Property Size1,966 SF
Price / SF$213.58
Days on Market3
Property Features for 24 Nichols St
General Information
Standard status
Active
Size
1,966 SF
Property subtype
Residential Income
Zoning
TMF
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,524
Building Details
Building Size
1,966 SF
Year Built
1900
Listing Agency:
Coldwell Banker Realty - Lexington
Listed By:
Fuang Ying Huang
(781) 856-1069
Source:
413realestate
Added: Oct 9
Changed: Oct 11
Last Checked: Oct 11 at 3:23AM
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 Coldwell Banker Realty - Lexington
Investment Insights
Based on property information with market context.
This duplex contains two separate living areas in a 1,966-square-foot building constructed in 1900. The property is being offered in as-is condition, and owner financing is available.
Key Highlights
- Two separate living areas
- 1,966 square feet
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,070
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,400
$701.4K
Cap Rate 7%
$501,000
$501.0K
Cap Rate 9%
$389,667
$389.7K
Market Conditions
NOI Build-Up for 1,966 SF
Gross rent
$68.4K $34.80/SF
− Vacancy
−$4.7K −$2.37/SF
EGI
$63.8K $32.43/SF
− OpEx
−$28.7K −$14.60/SF
NOI
$35.1K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,400
Cap Rate 7%
$501,000
Cap Rate 9%
$389,667
Alternative Uses
Best Use
Multifamily LT 5
$556.5K
$486.9K – $649.2K
NOI $38,953 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$501.0K
$438.4K – $584.5K
NOI $35,070 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$692.0K
$605.5K – $807.3K
NOI $48,437 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 01851, MA
32,691
Population
11,759
Households
2.8
Avg Household Size
34
Median Age
32%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
10,216
Density / Sq Mi
$87,962
Median Household Income
$46,388
Median Earnings
$1,686
Median Rent
$432,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct living areas provide separate residential spaces within one property.
Where is this duplex located?
The property is located at 24 Nichols St Lowell, MA.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Two separate living areas; 1,966 square feet; Built in 1900
