Historic Two-Unit
For Sale
$575,000
Pending
58 Bedford St, New Bedford, MA 02740
Well-maintained two-family property with two 4-bedroom units, each featuring a large eat-in kitchen.
Property Size3,058 SF
Days on Market99
Property Features for 58 Bedford St
General Information
Standard status
Pending
Size
3,058 SF
Property subtype
Multi Family Home
Zoning
RB
Taxes and HOA fees
Annual Taxes
$5,554
Building Details
Building Size
3,058 SF
Year Built
1870
Stories
2
Units
2
Listing Agency:
Pelletier Realty, Inc.
(508) 995-2676
Listed By:
Vera Ferreira
(774) 330-9582
Source:
Aucoinryanrealty
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 23 at 6:24AM
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 Pelletier Realty, Inc.
Investment Insights
Based on property information with market context.
The William Piper House is a well-maintained two-family multifamily property that offers two spacious 4-bedroom units. Each unit includes a large eat-in kitchen and plenty of living space. The property has been lovingly cared for over the years and currently has long-standing tenants.
The home is conveniently located just minutes from downtown New Bedford’s shops, restaurants, parks, and local amenities. It is approximately one mile from the commuter rail, providing convenient options for commuting.
This is a historic two-unit residence designed to accommodate both investor ownership and owner-occupancy, with separate, full-size living spaces in each unit.
The home is conveniently located just minutes from downtown New Bedford’s shops, restaurants, parks, and local amenities. It is approximately one mile from the commuter rail, providing convenient options for commuting.
This is a historic two-unit residence designed to accommodate both investor ownership and owner-occupancy, with separate, full-size living spaces in each unit.
Key Highlights
- William Piper House built in 1870 (historic two‑family property)
- Two spacious 4‑bedroom units
- Each unit includes a large eat‑in kitchen
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
$43,957
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
7.64%
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%
$879,140
$879.1K
Cap Rate 7%
$627,957
$628.0K
Cap Rate 9%
$488,411
$488.4K
Market Conditions
NOI Build-Up for 3,058 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
$67.9K $22.20/SF
− Vacancy
−$5.1K −$1.67/SF
EGI
$62.8K $20.54/SF
− OpEx
−$18.8K −$6.16/SF
NOI
$44.0K $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%
$879,140
Cap Rate 7%
$627,957
Cap Rate 9%
$488,411
Alternative Uses
Best Use
Multifamily LT 5
$628.0K
$549.5K – $732.6K
NOI $43,957 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$576.5K
$504.5K – $672.6K
NOI $40,356 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$901.7K
$789.0K – $1.05M
NOI $63,117 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,338
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
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family property with two 4-bedroom units, each featuring a large eat-in kitchen.
Where is this duplex located?
The property is located at 58 Bedford St New Bedford, MA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: William Piper House built in 1870 (historic two‑family property); Two spacious 4‑bedroom units; Each unit includes a large eat‑in kitchen
