Completely Renovated Two-Unit
For Sale
$574,900
150 Blackmer St, New Bedford, MA 02744
Residential Income, New Bedford, MA
Property Size1,812 SF
Lot Size0.10 Acres
Price / SF$317.27
Days on Market273
Property Features for 150 Blackmer St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MUB
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Parking
10
Directions
GPS
Standard status
Active
APN
M:0025 L:0042,2886199
Size
1,812 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4497
Building Details
Year built
1884
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Nov 20, 2025
Changed: Aug 19
Last Checked: Aug 20 at 3:06PM
MLS# 73456899
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.
Completely renovated two-unit duplex offers thoughtfully updated living spaces in both units. The property includes a possible cottage-style setup suited for extended family, guests, or a private work space, along with a partially finished basement that can be customized for recreation, a home office, or other bonus space.
Built in 1884, the duplex sits on a 0.1043-acre lot with a total property size of 1,812 square feet. The property is zoned MUB.
The exterior provides additional opportunity to potentially add a garage or an ADU, subject to city allowance. The layout includes bedrooms and bathrooms across the home, including four bedrooms and two bathrooms based on the listed room set.
Built in 1884, the duplex sits on a 0.1043-acre lot with a total property size of 1,812 square feet. The property is zoned MUB.
The exterior provides additional opportunity to potentially add a garage or an ADU, subject to city allowance. The layout includes bedrooms and bathrooms across the home, including four bedrooms and two bathrooms based on the listed room set.
Key Highlights
- Completely renovated two‑unit duplex with updated units throughout
- Possible cottage‑style setup for extended family, guests, or private work space
- Partially finished basement for recreation, office, or bonus space
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
Multi-tenant
Tenancy
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 - Completely renovated two-unit duplex on a 0.1043-acre lot with partially finished basement space and MUB zoning.
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: Completely renovated two‑unit duplex with updated units throughout; Possible cottage‑style setup for extended family, guests, or private work space; Partially finished basement for recreation, office, or bonus space
