Well-Maintained Duplex with
For Sale
$699,000
Pending
79 Pratt Ave, Lowell, MA 01851
Two three-bedroom units offer separate utilities, flexible lower-level space, and private outdoor amenities.
Property Size3,011 SF
Days on Market12
Property Features for 79 Pratt Ave
General Information
Standard status
Pending
Size
3,011 SF
Property subtype
2 Family - 2 Units Up/Down
Building Details
Year Built
1950
Listing Agency:
Blue Ocean Realty, LLC
(301) 906-3650
Listed By:
Congying Wang
(301) 906-3650
Source:
Lockandkeyre
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 9 at 5:05AM
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 Blue Ocean Realty, LLC
Investment Insights
Based on property information with market context.
This two-family duplex contains 3,011 square feet of living space, with each unit arranged as a three-bedroom, one-bath residence. One apartment is occupied by the owner and the other by a tenant. A partially finished walk-out basement adds a third full bathroom and adaptable space for office, exercise, recreation, or storage needs.
Property improvements include a 2026 roof, 2026 gutters, and six windows installed in Unit #2 during 2026. Separate utilities support distinct unit operations. The exterior includes a detached 2-car garage, seven additional off-street parking spaces, a fully fenced backyard, and a corner-lot setting.
The property is in Lowell near restaurants, shopping, UMass Lowell, the Lowell Commuter Rail, Route 3, and I-495.
Property improvements include a 2026 roof, 2026 gutters, and six windows installed in Unit #2 during 2026. Separate utilities support distinct unit operations. The exterior includes a detached 2-car garage, seven additional off-street parking spaces, a fully fenced backyard, and a corner-lot setting.
The property is in Lowell near restaurants, shopping, UMass Lowell, the Lowell Commuter Rail, Route 3, and I-495.
Key Highlights
- Two‑family duplex with 3,011 square feet of living space
- Each unit includes 3 bedrooms and 1 full bath
- Partially finished walk‑out basement with a third full 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
$59,658
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
8.53%
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%
$1,193,160
$1.2M
Cap Rate 7%
$852,257
$852.3K
Cap Rate 9%
$662,867
$662.9K
Market Conditions
NOI Build-Up for 3,011 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
$92.1K $30.60/SF
− Vacancy
−$6.9K −$2.30/SF
EGI
$85.2K $28.31/SF
− OpEx
−$25.6K −$8.49/SF
NOI
$59.7K $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%
$1,193,160
Cap Rate 7%
$852,257
Cap Rate 9%
$662,867
Alternative Uses
Best Use
Multifamily LT 5
$852.3K
$745.7K – $994.3K
NOI $59,658 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$767.3K
$671.4K – $895.2K
NOI $53,712 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$1.06M
$927.3K – $1.24M
NOI $74,183 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
735
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
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 three-bedroom units offer separate utilities, flexible lower-level space, and private outdoor amenities.
Where is this duplex located?
The property is located at 79 Pratt Ave Lowell, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑family duplex with 3,011 square feet of living space; Each unit includes 3 bedrooms and 1 full bath; Partially finished walk‑out basement with a third full bathroom
