Renovated Duplex with Finished
For Sale
$574,900
150 Blackmer St, New Bedford, MA 02744
Two updated units and a partially finished basement expand the property's usable space.
Property Size1,812 SF
Days on Market48
Property Features for 150 Blackmer St
General Information
Standard status
Active
Size
1,812 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,497
Building Details
Building Size
1,812 SF
Year Built
1884
Stories
2
Units
2
Listing Agency:
(508) 989-7283
Listed By:
Sandra Almeida
(508) 989-7283
Source:
Elliman
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 31 at 7:31PM
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 Sandra Almeida
Investment Insights
Based on property information with market context.
This duplex, built in 1884, contains two residential units that have been renovated throughout. The property also includes a partially finished basement, offering additional interior area for recreation, office use, or other purposes as configured by the owner. A cottage-style arrangement is identified as a possible feature, with potential appeal for extended household use, guests, or a private workspace.
The exterior may offer the possibility of adding a garage or ADU if permitted by the city. Walk Score is 80, indicating a Very Walkable setting, while Bike Score is 49, described as Somewhat Bikeable. Transit Score is 33, with Some Transit.
The exterior may offer the possibility of adding a garage or ADU if permitted by the city. Walk Score is 80, indicating a Very Walkable setting, while Bike Score is 49, described as Somewhat Bikeable. Transit Score is 33, with Some Transit.
Key Highlights
- Two‑family duplex with updates completed throughout both units
- Partially finished basement provides additional usable interior space
- Possible cottage‑style setup for guests, extended household use, or private workspace
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
$26,047
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
4.53%
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%
$520,940
$520.9K
Cap Rate 7%
$372,100
$372.1K
Cap Rate 9%
$289,411
$289.4K
Market Conditions
NOI Build-Up for 1,812 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
$40.2K $22.20/SF
− Vacancy
−$3.0K −$1.67/SF
EGI
$37.2K $20.54/SF
− OpEx
−$11.2K −$6.16/SF
NOI
$26.0K $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%
$520,940
Cap Rate 7%
$372,100
Cap Rate 9%
$289,411
Alternative Uses
Best Use
Multifamily LT 5
$372.1K
$325.6K – $434.1K
NOI $26,047 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$341.6K
$298.9K – $398.5K
NOI $23,912 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$534.3K
$467.5K – $623.3K
NOI $37,400 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Explore this area
Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
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 - Two updated units and a partially finished basement expand the property's usable space.
Where is this duplex located?
The property is located at 150 Blackmer St New Bedford, MA.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Two‑family duplex with updates completed throughout both units; Partially finished basement provides additional usable interior space; Possible cottage‑style setup for guests, extended household use, or private workspace
