Residential Income
For Sale
$454,000
Pending
155 Purchase St, New Bedford, MA 02740
Historic residential income property with MUB zoning and access from two streets.
Property Size2,039 SF
Days on Market92
Property Features for 155 Purchase St
General Information
Standard status
Pending
Size
2,039 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,156
Building Details
Building Size
2,039 SF
Year Built
1890
Listing Agency:
Remax Revolution
Listed By:
Michael Alves · License #REB.0014141
(401) 333-4900
Source:
Allisonmazer
Added: Jul 6
Changed: Oct 2
Last Checked: Oct 4 at 4:45PM
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 Remax Revolution
Investment Insights
Based on property information with market context.
Built in 1890, this residential income property is located at 155 Purchase St in New Bedford, Massachusetts. The property carries MUB zoning and has access along both Purchase St and Rockland St.
The asset is situated in Bristol County and is identified by a property size of 2039. Its established construction date and two-street access provide the primary physical and land-use characteristics available for review.
The asset is situated in Bristol County and is identified by a property size of 2039. Its established construction date and two-street access provide the primary physical and land-use characteristics available for review.
Key Highlights
- Built in 1890
- MUB zoning
- Access along Purchase St and Rockland St
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,908
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,160
$538.2K
Cap Rate 7%
$384,400
$384.4K
Cap Rate 9%
$298,978
$299.0K
Market Conditions
NOI Build-Up for 2,039 SF
Gross rent
$52.6K $25.80/SF
− Vacancy
−$3.7K −$1.81/SF
EGI
$48.9K $23.99/SF
− OpEx
−$22.0K −$10.80/SF
NOI
$26.9K $13.20/SF
Area
New Bedford, MA
Vacancy
7.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,160
Cap Rate 7%
$384,400
Cap Rate 9%
$298,978
Alternative Uses
Best Use
Apartment 5plus
$384.4K
$336.4K – $448.5K
NOI $26,908 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$601.2K
$526.1K – $701.4K
NOI $42,085 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
966
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?
Residential income property - Historic residential income property with MUB zoning and access from two streets.
Where is this residential income property located?
The property is located at 155 Purchase St New Bedford, MA.
What is the asking price?
The asking price for this property is $454,000.
What are key features of this property?
This property features: Built in 1890; MUB zoning; Access along Purchase St and Rockland St
