Rooming House Investment
For Sale
$569,900
192 Walnut St, New Bedford, MA 02740
MULTI_FAMILY - New Bedford, MA
Property Size2,443 SF
Lot Size0.05 Acres
Price / SF$233.28
Days on Market552
Property Features for 192 Walnut St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
10
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 9, Bedroom 3, Bedroom 10, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 8, Bedroom 7, Bedroom 5
Directions
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Standard status
Active
APN
M:0046 L:0149,2890699
Size
2,443 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3822
Building Details
Year built
1879
Floors in Building
5
Number of units
10
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Jan 24, 2025
Changed: Jul 30
Last Checked: Jul 30 at 4:06PM
MLS# 73329052
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 three-level rooming house offers a total of 10 rooms and includes three bathrooms. Seven of the rooms feature individual ovens, and all rooms are equipped with private sinks and cabinetry to support tenant convenience. The property is described as fully insulated for energy efficiency and year-round comfort, and each room has its own minisplit unit.
The property is located at 192 Walnut St in New Bedford, Massachusetts, within Bristol County. The listing is classified under zoning RC.
With its room-by-room utilities and in-room amenities, the layout is designed for individual occupancy across multiple levels within a compact footprint.
The property is located at 192 Walnut St in New Bedford, Massachusetts, within Bristol County. The listing is classified under zoning RC.
With its room-by-room utilities and in-room amenities, the layout is designed for individual occupancy across multiple levels within a compact footprint.
Key Highlights
- 1879 year‑built 3‑level rooming house with 10 rooms and 3 bathrooms
- Each room has a private sink and cabinetry
- Seven rooms feature individual ovens
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.0k | $25.80 |
| − Vacancy | −$4.4k | −$1.81 |
| EGI | $58.6k | $23.99 |
| − OpEx | −$26.4k | −$10.80 |
| NOI | $32.2k | $13.20 |
2,443 SF · lease $25.80/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$460.6K
$403.0K – $537.3K
NOI $32,240 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$720.3K
$630.3K – $840.4K
NOI $50,424 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,060
Businesses Nearby
Explore this area
Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
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?
Apartment building - Three-level rooming house with individual ovens, private sinks, cabinetry, and minisplit heating in every room.
Where is this apartment building located?
The property is located at 192 Walnut St New Bedford, MA.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: 1879 year‑built 3‑level rooming house with 10 rooms and 3 bathrooms; Each room has a private sink and cabinetry; Seven rooms feature individual ovens
