Duplex with Off-Street
New
For Sale
$575,000
256 University Avenue, Lowell, MA 01854
Delivered vacant, the property contains two three-bedroom units with kitchens, living rooms, and full bathrooms.
Property Size2,404 SF
Price / SF$239.18
Days on Market5
Property Features for 256 University Avenue
General Information
Standard status
Active
Size
2,404 SF
Property subtype
Multi-family
Building Details
Year Built
1910
Listing Agency:
RE/MAX Innovative Properties
(603) 434-4101
Listed By:
Raymond Boutin
Source:
Stevebremis
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 21 at 11:38AM
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 RE/MAX Innovative Properties
Investment Insights
Based on property information with market context.
Built in 1910, this 2,404-square-foot duplex includes two stories of residential space and will be delivered vacant. Each unit features three bedrooms, a kitchen, a living room, and a full bathroom. The attic provides additional space, while the first floor has an updated high-efficiency furnace. Off-street parking is included.
The property is located at 256 University Avenue in Lowell, Massachusetts, near UMass Lowell, shopping, restaurants, and downtown. Its unit layout, existing mechanical improvement, and vacant delivery provide a clear starting point for renovation and customization.
The property is located at 256 University Avenue in Lowell, Massachusetts, near UMass Lowell, shopping, restaurants, and downtown. Its unit layout, existing mechanical improvement, and vacant delivery provide a clear starting point for renovation and customization.
Key Highlights
- Two‑unit duplex with 2,404 square feet of property size
- Each unit includes 3 bedrooms, a 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
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Frequently Asked Questions
What type of property is this?
Duplex - Delivered vacant, the property contains two three-bedroom units with kitchens, living rooms, and full bathrooms.
Where is this duplex located?
The property is located at 256 University Avenue 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: Two‑unit duplex with 2,404 square feet of property size; Each unit includes 3 bedrooms, a kitchen, living room, and full bathroom; Delivered vacant for renovation and customization
