Three-Level Duplex with
For Sale
$695,000
129-131 State Street, New Bedford, MA 02740
Two residential units offer upgraded kitchens, substantial bedroom capacity, and private rear outdoor space.
Property Size3,774 SF
Price / SF$184.15
Days on Market50
Property Features for 129-131 State Street
General Information
Standard status
Active
Size
3,774 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
RB
Net Operating Income
$45,600
Taxes and HOA fees
Annual Taxes
$8,019
Building Details
Building Size
3,774 SF
Year Built
2005
Stories
6
Listing Agency:
Keller Williams Elite
(508) 695-4545
Listed By:
Daniel Mansour Barbour · License #449537458
(774) 406-6363
Source:
Churchillprop
Added: Aug 17
Changed: Oct 4
Last Checked: Oct 4 at 7:33AM
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 Keller Williams Elite
Investment Insights
Based on property information with market context.
This duplex is configured in a townhouse-style layout across three levels, with a partially finished basement serving one of the units. Together, the residences provide 7 bedrooms, 5 full bathrooms, and 2 half bathrooms. Both units include kitchens with upgraded cabinetry and granite countertops, along with private rear decks for outdoor use. The property was built in 2005.
Located at 129-131 State Street in New Bedford, the property is within walking distance of Clasky Park and near major highways, shopping, schools, and other area amenities. The two-unit arrangement supports multi-unit living, owner occupancy, or rental use as described in the property information.
Located at 129-131 State Street in New Bedford, the property is within walking distance of Clasky Park and near major highways, shopping, schools, and other area amenities. The two-unit arrangement supports multi-unit living, owner occupancy, or rental use as described in the property information.
Key Highlights
- Two‑unit duplex with townhouse‑style design across three levels
- Combined layout includes 7 bedrooms, 5 full baths, and 2 half baths
- Partially finished basement in one unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,249
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,084,980
$1.1M
Cap Rate 7%
$774,986
$775.0K
Cap Rate 9%
$602,767
$602.8K
Market Conditions
NOI Build-Up for 3,774 SF
Gross rent
$83.8K $22.20/SF
− Vacancy
−$6.3K −$1.67/SF
EGI
$77.5K $20.54/SF
− OpEx
−$23.2K −$6.16/SF
NOI
$54.2K $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%
$1,084,980
Cap Rate 7%
$774,986
Cap Rate 9%
$602,767
Alternative Uses
Best Use
Multifamily LT 5
$775.0K
$678.1K – $904.2K
NOI $54,249 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$711.5K
$622.6K – $830.1K
NOI $49,804 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$1.11M
$973.7K – $1.30M
NOI $77,895 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
979
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
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer upgraded kitchens, substantial bedroom capacity, and private rear outdoor space.
Where is this duplex located?
The property is located at 129-131 State Street New Bedford, MA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two‑unit duplex with townhouse‑style design across three levels; Combined layout includes 7 bedrooms, 5 full baths, and 2 half baths; Partially finished basement in one unit
