Two-Family Residential Income
For Sale
$509,000
Pending
1083-1085 County St, New Bedford, MA 02746
Oversized two-family with expansive units and two-year-old ductless mini-split heating and cooling systems.
Property Size2,985 SF
Days on Market77
Property Features for 1083-1085 County St
General Information
Standard status
Pending
Size
2,985 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Zoning
MUB
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,983
Building Details
Building Size
2,985 SF
Year Built
1923
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Freedom Realty Group LLC
(774) 361-2794
Listed By:
Tasha Cordero
(508) 542-6200
Source:
Liongatere
Added: Jun 24
Changed: Aug 25
Last Checked: Aug 24 at 1:30PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Freedom Realty Group LLC
Investment Insights
Based on property information with market context.
This oversized two-family residential income property offers nearly 3,000 square feet of combined living space across two units. The units provide expansive layouts, making the property well-suited for investors or owner-occupants seeking rental flexibility. Mechanical improvements include brand-new heating and cooling systems installed roughly two years ago, with energy-efficient ductless mini-splits serving both units.
Located at 1083–1085 County St in New Bedford, MA 02746, the property benefits from a walkable setting, with bike and transit scores noted in the provided information.
With a substantial total footprint and recently upgraded HVAC throughout, the building is positioned for buyers looking to generate income while addressing future interior updates as desired.
Located at 1083–1085 County St in New Bedford, MA 02746, the property benefits from a walkable setting, with bike and transit scores noted in the provided information.
With a substantial total footprint and recently upgraded HVAC throughout, the building is positioned for buyers looking to generate income while addressing future interior updates as desired.
Key Highlights
- Oversized two‑family built in 1923 with nearly 3,000 sq ft total
- Expansive units with space designed for rental income and flexibility
- Brand‑new heating and cooling installed about two years ago
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
$43,124
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
8.47%
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%
$862,480
$862.5K
Cap Rate 7%
$616,057
$616.1K
Cap Rate 9%
$479,156
$479.2K
Market Conditions
NOI Build-Up for 3,000 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
$66.6K $22.20/SF
− Vacancy
−$5.0K −$1.67/SF
EGI
$61.6K $20.54/SF
− OpEx
−$18.5K −$6.16/SF
NOI
$43.1K $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%
$862,480
Cap Rate 7%
$616,057
Cap Rate 9%
$479,156
Alternative Uses
Best Use
Multifamily LT 5
$616.1K
$539.1K – $718.7K
NOI $43,124 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$565.6K
$494.9K – $659.8K
NOI $39,590 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$884.6K
$774.0K – $1.03M
NOI $61,920 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
Explore this area
Business Placement
Demographics for 02746, MA
17,355
Population
7,640
Households
2.3
Avg Household Size
33
Median Age
10%
College-Educated
67%
High-School Grad
2.8 sq mi
ZIP Area
6,198
Density / Sq Mi
$41,023
Median Household Income
$33,472
Median Earnings
$1,100
Median Rent
$324,400
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?
Duplex - Oversized two-family with expansive units and two-year-old ductless mini-split heating and cooling systems.
Where is this duplex located?
The property is located at 1083-1085 County St New Bedford, MA.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: Oversized two‑family built in 1923 with nearly 3,000 sq ft total; Expansive units with space designed for rental income and flexibility; Brand‑new heating and cooling installed about two years ago
