Duplex with Walk-Up
For Sale
$475,000
118-120 Mount Vernon, New Bedford, MA 02740
The two-unit property has separate kitchens and dining rooms, with one residence vacant and the other owner occupied.
Property Size2,232 SF
Price / SF$212.81
Days on Market13
Property Features for 118-120 Mount Vernon
General Information
Standard status
Active
Size
2,232 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1924
Listing Agency:
Amaral & Associates RE
Listed By:
Darlene Alferes · License #451500387
(508) 989-1263
Source:
Trufantre
Added: Oct 18
Changed: Oct 28
Last Checked: Oct 28 at 8:54AM
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 Amaral & Associates RE
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1924, this 2,232-square-foot duplex at 118-120 Mount Vernon in New Bedford contains two residences. Both feature kitchens and formal dining rooms; original woodwork and pocket doors remain, and a walk-up attic adds space within the building. The first-floor residence is occupied by the owner, while the second-floor unit is vacant. Some exterior work may be needed.
Key Highlights
- Two‑unit duplex with a 2,232‑square‑foot building area
- Built in 1924
- First‑floor residence is owner occupied; second‑floor unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,084
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,680
$641.7K
Cap Rate 7%
$458,343
$458.3K
Cap Rate 9%
$356,489
$356.5K
Market Conditions
NOI Build-Up for 2,232 SF
Gross rent
$49.6K $22.20/SF
− Vacancy
−$3.7K −$1.67/SF
EGI
$45.8K $20.54/SF
− OpEx
−$13.8K −$6.16/SF
NOI
$32.1K $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 Rate 5%
$641,680
Cap Rate 7%
$458,343
Cap Rate 9%
$356,489
Alternative Uses
Best Use
Multifamily LT 5
$458.3K
$401.1K – $534.7K
NOI $32,084 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$420.8K
$368.2K – $490.9K
NOI $29,455 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$658.1K
$575.9K – $767.8K
NOI $46,068 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
410
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
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit property has separate kitchens and dining rooms, with one residence vacant and the other owner occupied.
Where is this duplex located?
The property is located at 118-120 Mount Vernon New Bedford, MA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2,232‑square‑foot building area; Built in 1924; First‑floor residence is owner occupied; second‑floor unit is vacant
