Two-Family Duplex with Finished
For Sale
$645,000
151-153 Clara St, New Bedford, MA 02744
MULTI_FAMILY - New Bedford, MA
Property Size2,648 SF
Lot Size0.10 Acres
Price / SF$243.58
Days on Market74
Property Features for 151-153 Clara St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 6, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 4
Parking
5
Directions
GPS
Standard status
Active
APN
M:0012 L:0106,2883936
Size
2,648 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5104
Amenities
ceiling fans
finished basement
Building Details
Year built
1922
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Jun 15
Changed: Aug 10
Last Checked: Aug 27 at 2:06AM
MLS# 73536281
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family duplex offers spacious, well-maintained living with strong owner-occupant or investor appeal. Each unit features three bedrooms, high ceilings, and ceiling fans, with some appliances expected to convey with the sale. The home includes a finished basement that adds flexible space for an office, gym, playroom, or entertaining.
The property was built in 1922 and sits on a 0.1003-acre lot. The main roof is approximately four years old. A one-car garage includes a new roof and a brand-new garage door, and there is off-street parking with a driveway. The home is positioned within a short distance of the beach, shopping, dining, and other local amenities.
The property is listed as fully vacant by the end of July.
The property was built in 1922 and sits on a 0.1003-acre lot. The main roof is approximately four years old. A one-car garage includes a new roof and a brand-new garage door, and there is off-street parking with a driveway. The home is positioned within a short distance of the beach, shopping, dining, and other local amenities.
The property is listed as fully vacant by the end of July.
Key Highlights
- Each unit offers three bedrooms, high ceilings, and ceiling fans; some appliances convey
- Roof is approximately four years old
- Finished basement provides office, gym, playroom, or entertaining space
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
$38,064
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
5.90%
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%
$761,280
$761.3K
Cap Rate 7%
$543,771
$543.8K
Cap Rate 9%
$422,933
$422.9K
Market Conditions
NOI Build-Up for 2,648 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
$58.8K $22.20/SF
− Vacancy
−$4.4K −$1.67/SF
EGI
$54.4K $20.54/SF
− OpEx
−$16.3K −$6.16/SF
NOI
$38.1K $14.37/SF
Area
New Bedford, MA
Vacancy
7.50%
Lease Rate
$22.20 /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%
$761,280
Cap Rate 7%
$543,771
Cap Rate 9%
$422,933
Alternative Uses
Best Use
Multifamily LT 5
$543.8K
$475.8K – $634.4K
NOI $38,064 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$499.2K
$436.8K – $582.4K
NOI $34,945 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$780.8K
$683.2K – $910.9K
NOI $54,655 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
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 - Two-family duplex in RB zoning featuring a finished basement, one-car garage, and off-street parking.
Where is this duplex located?
The property is located at 151-153 Clara St New Bedford, MA.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Each unit offers three bedrooms, high ceilings, and ceiling fans; some appliances convey; Roof is approximately four years old; Finished basement provides office, gym, playroom, or entertaining space
