Duplex with Updated First
For Sale
$724,900
Pending
69 Lilley Avenue, Lowell, MA 01850
Duplex offers a move-in-ready updated first-floor unit and a second-floor unit with a tenant at will.
Property Size2,723 SF
Days on Market100
Property Features for 69 Lilley Avenue
General Information
Standard status
Pending
Size
2,723 SF
Total Parking Spaces
10
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
residentia
Net Operating Income
$26,400
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,051
Amenities
No
Wood, Vinyl, Laminate, Hardwood
Range, Refrigerator
Insulated Doors
2.0
Picture Window, Insulated Windows
Full, Walk Out, Interior Access, Bulkhead, Concrete Floor, Unfinished Basement
Bathroom With Tub & Shower, Remodeled, Other(See Remarks), Living Room, Window AC
2
2.00
Fenced
Frame
Asphalt/Composition Shingles
Fenced Yard
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
Urban Real Estate
(978) 454-0444
Listed By:
Daniel Tan · License #9063101
(978) 454-0444
Source:
Compass
Added: May 5
Changed: Aug 7
Last Checked: Aug 1 at 12:37PM
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 Urban Real Estate
Investment Insights
Based on property information with market context.
This oversized duplex provides two separate residences with a 3-bedroom, 1-bath layout on the first unit and a 3+ bedroom, 1-bath layout on the second-floor unit. Unit 1 has been updated with a refreshed kitchen, bathroom, flooring, and fresh paint, positioned for move-in readiness. Unit 2 is currently occupied with a tenant at will.
The property includes a new architecture roof, vinyl insulated windows, and a 2-car garage with a paved driveway plus additional parking spaces for up to six vehicles. Conveniently located near downtown Lowell with easy access to the town of Dracut, and close to shopping, restaurants, schools, parks, and public transportation, the duplex is well suited for both owner-occupant and investor considerations.
The property includes a new architecture roof, vinyl insulated windows, and a 2-car garage with a paved driveway plus additional parking spaces for up to six vehicles. Conveniently located near downtown Lowell with easy access to the town of Dracut, and close to shopping, restaurants, schools, parks, and public transportation, the duplex is well suited for both owner-occupant and investor considerations.
Key Highlights
- Oversized multi‑family duplex built in 1925 with 2 total full bathrooms
- Unit 1: updated kitchen and bathroom, new flooring, and fresh paint; includes 3 bedrooms and 1 bathroom
- Unit 2 (2nd floor): tenant at will; offers 3+ bedrooms and 1 bathroom
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
$53,952
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
7.44%
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%
$1,079,040
$1.1M
Cap Rate 7%
$770,743
$770.7K
Cap Rate 9%
$599,467
$599.5K
Market Conditions
NOI Build-Up for 2,723 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
$83.3K $30.60/SF
− Vacancy
−$6.2K −$2.30/SF
EGI
$77.1K $28.31/SF
− OpEx
−$23.1K −$8.49/SF
NOI
$54.0K $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%
$1,079,040
Cap Rate 7%
$770,743
Cap Rate 9%
$599,467
Alternative Uses
Best Use
Multifamily LT 5
$770.7K
$674.4K – $899.2K
NOI $53,952 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$693.9K
$607.2K – $809.6K
NOI $48,574 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$958.4K
$838.6K – $1.12M
NOI $67,088 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
915
Businesses Nearby
Explore this area
Business Placement
Demographics for 01850, MA
16,670
Population
6,028
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
1.4 sq mi
ZIP Area
11,907
Density / Sq Mi
$67,581
Median Household Income
$42,096
Median Earnings
$1,666
Median Rent
$367,200
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 - Duplex offers a move-in-ready updated first-floor unit and a second-floor unit with a tenant at will.
Where is this duplex located?
The property is located at 69 Lilley Avenue Lowell, MA.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Oversized multi‑family duplex built in 1925 with 2 total full bathrooms; Unit 1: updated kitchen and bathroom, new flooring, and fresh paint; includes 3 bedrooms and 1 bathroom; Unit 2 (2nd floor): tenant at will; offers 3+ bedrooms and 1 bathroom
