Duplex with Walk-Up
New
For Sale
$519,900
122 Princeton St, New Bedford, MA 02745
The first-floor residence is scheduled to be vacant at closing, offering immediate occupancy flexibility.
Property Size2,214 SF
Days on Market6
Property Features for 122 Princeton St
General Information
Standard status
Active
Size
2,214 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,695
Amenities
off-street parking
backyard
Building Details
Building Size
2,214 SF
Year Built
1919
Buildings
1
Stories
2
Units
2
Listed By:
Roger DaSilva
(774) 365-1908
Source:
Elliman
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 2 at 9:37PM
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 Roger DaSilva
Investment Insights
Based on property information with market context.
Built in 1919, this New Bedford duplex has two residences, each with a living room, dining area, three bedrooms, one bathroom, and hardwood flooring. The first-floor heating system is new, and both hot water tanks have been replaced. The roof is less than 10 years old. A walk-up attic offers potential for additional living space, and the property also includes off-street parking for multiple vehicles and a backyard. The first-floor unit will be vacant at closing.
Brooklawn Park is one block away. The property is also minutes from a T station, schools, shops, restaurants, and highway access.
Brooklawn Park is one block away. The property is also minutes from a T station, schools, shops, restaurants, and highway access.
Key Highlights
- Two residences, each with 3 bedrooms and 1 bathroom
- First‑floor heating system is new
- Both hot water tanks have been replaced
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
$31,825
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
6.12%
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%
$636,500
$636.5K
Cap Rate 7%
$454,643
$454.6K
Cap Rate 9%
$353,611
$353.6K
Market Conditions
NOI Build-Up for 2,214 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
$49.2K $22.20/SF
− Vacancy
−$3.7K −$1.67/SF
EGI
$45.5K $20.54/SF
− OpEx
−$13.6K −$6.16/SF
NOI
$31.8K $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%
$636,500
Cap Rate 7%
$454,643
Cap Rate 9%
$353,611
Alternative Uses
Best Use
Multifamily LT 5
$454.6K
$397.8K – $530.4K
NOI $31,825 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$417.4K
$365.2K – $487.0K
NOI $29,217 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$652.8K
$571.2K – $761.6K
NOI $45,697 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Explore this area
Business Placement
Demographics for 02745, MA
25,336
Population
10,649
Households
2.4
Avg Household Size
41
Median Age
20%
College-Educated
83%
High-School Grad
9.8 sq mi
ZIP Area
2,585
Density / Sq Mi
$73,154
Median Household Income
$46,978
Median Earnings
$1,104
Median Rent
$339,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - The first-floor residence is scheduled to be vacant at closing, offering immediate occupancy flexibility.
Where is this duplex located?
The property is located at 122 Princeton St New Bedford, MA.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1 bathroom; First‑floor heating system is new; Both hot water tanks have been replaced
