Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    New Bedford Two-Family Home Title is generated by Realmo AI

    407 Park St, New Bedford, MA 02740

    View on Map
    Claim this Listing
    For Sale
    $469,900

    MULTI_FAMILY - New Bedford, MA

    Property size:
    2,402 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $195/SF
    Added:
    May 6, 2026
    Days on Market:
    16
    Last Refresh:
    May 21 at 5:06 pm

    Property Features for 407 Park St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RA
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4
    Parking
    2
    Fireplace
    1
    Standard status
    Active
    APN
    2893894
    Size
    2,402 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    4998

    Building Details

    Year built
    1913
    Floors in Building
    2
    Number of units
    2

    We can help!

    Listing Contact
    Scott Morris

    Listing agent Scott Morris

    Listing office Keller Williams Realty 574 Washington Street, South Easton, MA

    Listing date May 6, 2026

    MLS# 73513761 Listing URL

    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.

    HighLights

    • Two‑family home, ideal for rental income or multi‑generational living.
    • Located in the desirable West End of New Bedford.
    • Features a fenced‑in yard.
    • Includes off‑street parking.
    • First floor: 2 bedrooms, eat‑in kitchen.
    • Second floor: 3 bedrooms, eat‑in kitchen.

    Overview

    This two-family home is located in the West End of New Bedford. The first floor features two bedrooms, a full bath, a living room, a dining room, and an eat-in kitchen. The second floor includes three bedrooms, a full bath, a living room, a dining room, and a sizable eat-in kitchen. The property has a fenced-in yard and off-street parking. The lot size is 0.12 acres and the property size is 2402 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $383.6K
    NOI $34,528 @ 9.00% cap · cautious / downside scenario
    Moderate
    $493.3K
    NOI $34,528 @ 7.00% cap · market / base-case scenario
    Aggressive
    $690.6K
    NOI $34,528 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $53.3k $22.20
    − Vacancy −$4.0k −$1.67
    EGI $49.3k $20.54
    − OpEx −$14.8k −$6.16
    NOI $34.5k $14.37
    2,402 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $493.3K
    $431.6K – $575.5K (±1% cap)
    NOI $34,528 @ 7.0% cap · market cap 7.35%
    Second Best
    Apartment 5plus
    $452.8K
    $396.2K – $528.3K (±1% cap)
    NOI $31,698 @ 7.0% cap · market cap 6.75%
    Theoretical Best
    Office A
    $708.2K
    $619.7K – $826.3K (±1% cap)
    NOI $49,577 @ 7.0% cap · market cap 10.55%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Bedford
    County
    Bristol
    State
    Massachusetts
    Longitude
    -70.939607
    Latitude
    41.640552

    Nearby Similar for Sale

    • $699,900
      3,378 SF

      Well-Maintained Three-Family Property

      Three-family property with strong rental potential in New Bedford.
      55 Salisbury St, New Bedford, MA 02744
      View Details
    • $899,000
      4,878 SF

      Spacious Multi-Family Residence

      Meticulously prepared multi-family residence with twelve bedrooms and five bathrooms.
      104-106 Belleville Rd, New Bedford, MA 02745
      View Details
    • $599,000
      2,760 SF

      New Bedford Mixed-Use Two-Family

      Two-family property with MUB zoning, suitable for live-work.
      1930 Acushnet Ave, New Bedford, MA 02745
      View Details
    • $750,000
      4,062 SF

      Meticulously Maintained Four-Unit Multifamily Property

      Spacious, renovated four-unit property near hospital and downtown New Bedford.
      42-44 Wing Street, New Bedford, MA 02740
      View Details
    • $650,000
      3,078 SF

      Spacious Three-Family Home Investment

      Well-maintained New Bedford three-family with recent updates and convenient location.
      447 Ash St, New Bedford, MA 02740
      View Details
    • $599,999
      3,372 SF

      Well-Maintained Three Family Property

      Three-family property near the beach, ideal for investors/owner-occupants.
      187 David St, New Bedford, MA 02744
      View Details
    • $530,000
      2,565 SF

      New Bedford Multifamily Home

      Two-family home with income potential and flexible living options.
      107 Robeson St, New Bedford, MA 02740
      View Details
    • $709,900
      3,169 SF

      Income-Producing Multifamily Property

      Turnkey 6-unit property with strong returns and low maintenance.
      826 County St, New Bedford, MA 02740
      View Details
    • $599,000
      2,691 SF

      Renovated Two-Family Home

      Move-in ready, renovated two-family home with investment potential.
      33 Crapo St., New Bedford, MA 02740
      View Details
    • $839,700
      3,902 SF

      Updated Four-Family Investment Opportunity

      Fully updated four-family property with strong investment potential.
      51 Bonney St, New Bedford, MA 02740
      View Details
    • $739,900
      3,321 SF

      Renovated Three-Family Property

      Turnkey, fully occupied 3-family property with modern updates.
      32 Sagamore St, New Bedford, MA 02740
      View Details
    • $649,900
      3,678 SF

      Turnkey Three-Family Property

      Updated three-family property near transportation and parks in New Bedford.
      1387-1389 Purchase St., New Bedford, MA 02740
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-family home in New Bedford's West End with fenced yard.
    Where is this duplex located?
    The property is located at 407 Park St New Bedford, MA.
    What is the asking price?
    The asking price for this property is $469,900.
    What are key features of this property?
    This property features: Two‑family home, ideal for rental income or multi‑generational living.; Located in the desirable West End of New Bedford.; Features a fenced‑in yard.
    (508) 238-5000
    We can help!
    Listing Contact
    Scott Morris
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    407 Park St, New Bedford, MA 02740
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!