Three-Level Two-Unit
1359 Purchase Street New Bedford, MA 02740
1359 Purchase Street, New Bedford, MA, 02740
$399,900
For Sale
$399,900
Two-family home with vinyl-sided exterior and a walk-up attic that may allow additional unit configuration.
Property Size2,242 SF
Price / SF$178.37
Days on Market49
Property Features for 1359 Purchase Street
General Information
- Standard status
- Active
- Size
- 2,242 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1870
Listing agency
Redlon Realty LLC
Listed by
Adam Walorz
(781) 878-2478
Source
Trufantre
Added: Jun 5 Updated: Jul 21 at 3:00PM Checked: Jul 22 at 7:35AM
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 Redlon Realty LLC
Investment Insights
Based on property information with market context.
This two-family residential property offers 3 levels, including a walk-up attic. The exterior is vinyl-sided, presenting a low-maintenance exterior. Interior features include hardwood floors and functional floor plans with spacious, sun-filled bedrooms.
The home is located in New Bedford, with access to shopping, dining, convenience stores, St. Luke’s Hospital, and highway access all described as minutes away.
One unit includes the walk-up attic, providing flexibility to create additional living space. The layout is presented as suitable for turning the top area into additional units or a different configuration, subject to buyer and permitting requirements.
The home is located in New Bedford, with access to shopping, dining, convenience stores, St. Luke’s Hospital, and highway access all described as minutes away.
One unit includes the walk-up attic, providing flexibility to create additional living space. The layout is presented as suitable for turning the top area into additional units or a different configuration, subject to buyer and permitting requirements.
Key Highlights
- Two‑family home in New Bedford with 2 units and 2,200+ SF
- One unit includes a walk‑up attic with potential to create additional unit(s)
- Walk‑up attic may allow converting the top unit into a townhouse configuration
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.8k | $22.20 |
| − Vacancy | −$3.7k | −$1.67 |
| EGI | $46.0k | $20.54 |
| − OpEx | −$13.8k | −$6.16 |
| NOI | $32.2k | $14.37 |
2,242 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$460.4K
$402.9K – $537.1K
NOI $32,228 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$422.7K
$369.8K – $493.1K
NOI $29,587 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$661.1K
$578.4K – $771.3K
NOI $46,275 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Clasky Common Park
Park
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-family home with vinyl-sided exterior and a walk-up attic that may allow additional unit configuration.
Where is this duplex located?
The property is located at 1359 Purchase Street New Bedford, MA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑family home in New Bedford with 2 units and 2,200+ SF; One unit includes a walk‑up attic with potential to create additional unit(s); Walk‑up attic may allow converting the top unit into a townhouse configuration
