Duplex with Off-Street
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 Market77
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
Listed By:
Raymond Boutin · License #9026126
(603) 434-4101
Source:
Stevebremis
Added: Jul 26
Changed: Oct 7
Last Checked: Oct 10 at 12:59AM
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 / Yr
$47,632
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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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
