Duplex with Solar
For Sale
Under Contract
$599,900
382-384 W Clinton St, New Bedford, MA 02740
Residential Income, New Bedford, MA
Property Size2,656 SF
Price / SF$225.87
Days on Market91
Property Features for 382-384 W Clinton St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1
Parking
6
Directions
Rockdale Ave to West Clinton St
Standard status
Active Under Contract
APN
2890044
Size
2,656 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5499
Amenities
solar panels
fenced backyard
enclosed porch
walk-up attic
Building Details
Year built
1915
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty
(508) 238-5000
Listed By:
Scott Morris
(508) 238-5000
Added: Jun 1
Changed: Aug 23
Last Checked: Aug 30 at 11:06PM
MLS# 73527817
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.
Located at 382-384 W Clinton St in New Bedford, this 1915-built duplex contains 2,656 square feet with four bedrooms and two bathrooms. Each unit includes a kitchen, dining room, living room, family room, and two bedrooms. Hardwood flooring is featured throughout the first-floor residence, while the second-floor unit adds an enclosed porch and a partially finished walk-up attic. The property uses gas-fired hot-water cast-iron radiator heat.
Exterior amenities include a fully fenced backyard and a one-car garage. Seller-owned solar panels connect to the common meter and generate more than 10 MWh annually. The property is zoned RA and sits a few blocks from Buttonwood Park and St. Luke's Hospital, with the two-unit configuration supporting either owner occupancy or an income-producing residential strategy.
Exterior amenities include a fully fenced backyard and a one-car garage. Seller-owned solar panels connect to the common meter and generate more than 10 MWh annually. The property is zoned RA and sits a few blocks from Buttonwood Park and St. Luke's Hospital, with the two-unit configuration supporting either owner occupancy or an income-producing residential strategy.
Key Highlights
- 2,656 SF duplex with four bedrooms and two bathrooms
- Two units feature matching kitchen, dining, living, family room, and two‑bedroom layouts
- Seller‑owned solar panels generate 10+ MWh per year through the common meter
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
$38,179
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
6.36%
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%
$763,580
$763.6K
Cap Rate 7%
$545,414
$545.4K
Cap Rate 9%
$424,211
$424.2K
Market Conditions
NOI Build-Up for 2,656 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
$59.0K $22.20/SF
− Vacancy
−$4.4K −$1.67/SF
EGI
$54.5K $20.54/SF
− OpEx
−$16.4K −$6.16/SF
NOI
$38.2K $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%
$763,580
Cap Rate 7%
$545,414
Cap Rate 9%
$424,211
Alternative Uses
Best Use
Multifamily LT 5
$545.4K
$477.2K – $636.3K
NOI $38,179 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$500.7K
$438.1K – $584.2K
NOI $35,050 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$783.1K
$685.3K – $913.7K
NOI $54,820 @ 7.0% cap · market cap 9.14%
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
1,180
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer matching layouts, enclosed porch space, and a fenced backyard near Buttonwood Park.
Where is this duplex located?
The property is located at 382-384 W Clinton St New Bedford, MA.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,656 SF duplex with four bedrooms and two bathrooms; Two units feature matching kitchen, dining, living, family room, and two‑bedroom layouts; Seller‑owned solar panels generate 10+ MWh per year through the common meter
