Two-Family Residence with
311 Purchase St New Bedford, MA 02740
311 Purchase St, New Bedford, MA, 02740
$449,900
Pending
For Sale
$449,900
Pending
MULTI_FAMILY - New Bedford, MA
Property Size2,410 SF
Lot Size0.06 Acres
Days on Market107
Property Features for 311 Purchase St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RB
- Bedrooms
- 7
- Bathrooms
- 2
- Rooms
- Bedroom 7, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 3
- Standard status
- Pending
- APN
- M:0036 L:0399,2888384
- Size
- 2,410 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4392
Building Details
- Year built
- 1886
- Floors in Building
- 3
- Number of units
- 2
Listing agency
RE/MAX Synergy
(508) 857-5392
Listed by
Luis B Martins
(508) 857-5392
Added: Apr 8 Updated: Jul 11 at 7:34AM Checked: Jul 23 at 1:06AM
MLS# 73498761
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Investment Insights
Based on property information with market context.
This cottage-style two-family offers an owner or investor a practical combination of updated improvements and usable space. Both units feature generous kitchen space, and each level includes an oversized double parlor that can support gatherings, flexible layouts, or additional living area. Unit one includes three bedrooms and one bath, with a large double parlor well suited for family activity. The upstairs unit has been recently renovated and provides four bedrooms and one bath, along with an oversized double parlor of its own. The property also benefits from recent upgrades including newer windows, hot water tanks, and a new roof.
Located at 311 Purchase St in New Bedford, MA, the home is described as minutes from the downtown area. Accessibility and connectivity are also highlighted, with the property positioned on a major bus route and located minutes from the highway and a shopping center.
From a tenant or buyer perspective, the current configuration supports straightforward two-family income while maintaining upside through additional space. The third level presents potential to add four more bedrooms or create an additional unit, offering a credible path to increase value as needs or market conditions change. With its blend of recent improvements and expansion opportunities, the property should appeal to both growing households and investors focused on long-term return.
Located at 311 Purchase St in New Bedford, MA, the home is described as minutes from the downtown area. Accessibility and connectivity are also highlighted, with the property positioned on a major bus route and located minutes from the highway and a shopping center.
From a tenant or buyer perspective, the current configuration supports straightforward two-family income while maintaining upside through additional space. The third level presents potential to add four more bedrooms or create an additional unit, offering a credible path to increase value as needs or market conditions change. With its blend of recent improvements and expansion opportunities, the property should appeal to both growing households and investors focused on long-term return.
Key Highlights
- 2‑family cottage built in 1886 with 7 bedrooms and 2 bathrooms across two units
- Two kitchens plus large double parlor space in Unit 1
- Recently renovated Unit 2 with 4 bedrooms and 1 bath, featuring an oversized double parlor
Local Financial Insights For Multifamily LT 5
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 | $53.5k | $22.20 |
| − Vacancy | −$4.0k | −$1.67 |
| EGI | $49.5k | $20.54 |
| − OpEx | −$14.8k | −$6.16 |
| NOI | $34.6k | $14.37 |
2,410 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$494.9K
$433.0K – $577.4K
NOI $34,643 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$454.3K
$397.6K – $530.1K
NOI $31,804 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$710.6K
$621.8K – $829.0K
NOI $49,742 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - A cottage-style duplex with updated systems, two kitchens, and flexible upper-level potential for expanded living or income.
Where is this duplex located?
The property is located at 311 Purchase St New Bedford, MA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 2‑family cottage built in 1886 with 7 bedrooms and 2 bathrooms across two units; Two kitchens plus large double parlor space in Unit 1; Recently renovated Unit 2 with 4 bedrooms and 1 bath, featuring an oversized double parlor
