Two-Unit Townhouse-Style
For Sale
$695,000
129-131 State Street, New Bedford, MA 02740
Residential Income, New Bedford, MA
Property Size3,774 SF
Lot Size0.10 Acres
Price / SF$184.15
Days on Market103
Property Features for 129-131 State Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
6
Bathrooms
6
Full bathrooms
5
Half bathrooms
2
Rooms
Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 5, Bathroom 7, Bedroom 2, Bathroom 5, Bathroom 2, Bedroom 6, Bedroom 4, Bathroom 6, Bathroom 1
Parking
2
Elementary school
Parker
Middle school
Keith
High school
Nbhs
Directions
North on County Street, Right on Pope Street, and left on State Street.
Standard status
Active
APN
M:0072 L:0078,2895233
Size
3,774 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8019
Amenities
private rear decks
Building Details
Year built
2005
Floors in Building
6
Number of units
2
Listing Agency:
Keller Williams Elite · Keller Williams Realty
(508) 695-4545
Added: Jun 25
Changed: Oct 5
Last Checked: Oct 5 at 4:06PM
MLS# 73541673
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex has a townhouse-style layout across three levels, with a partially finished basement in one unit. The combined building area is 3,774 square feet on a 0.1019-acre lot. Across both units are 7 bedrooms, 5 full bathrooms, and 2 half bathrooms. Each residence has a kitchen with upgraded cabinetry and granite countertops, along with a private rear deck. Built in 2005, the property is zoned RB; one unit is vacant.
Clasky Park is within walking distance. Major highways, shopping, schools, and area amenities are also nearby.
Clasky Park is within walking distance. Major highways, shopping, schools, and area amenities are also nearby.
Key Highlights
- Two units with a combined 3,774 square feet of building area
- 7 bedrooms, 5 full bathrooms, and 2 half bathrooms across both units
- Townhouse‑style layout spans three levels; one unit has a partially finished basement
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
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Current Use
Lease Details
2
Residential units
Yes
Highway access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant, and both units have private rear decks and updated kitchens.
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 units with a combined 3,774 square feet of building area; 7 bedrooms, 5 full bathrooms, and 2 half bathrooms across both units; Townhouse‑style layout spans three levels; one unit has a partially finished basement
