Residential Income
For Sale
$454,000
155 Purchase St, New Bedford, MA 02740
Historic residential income property with MUB zoning and access from two streets.
Property Size2,039 SF
Price / SF$222.66
Days on Market46
Property Features for 155 Purchase St
General Information
Standard status
Active
Size
2,039 SF
Property subtype
Residential Income
Zoning
MUB
Taxes and HOA fees
Annual Taxes
$4,156
Building Details
Building Size
2,039 SF
Year Built
1890
Stories
2
Listing Agency:
RE/MAX
(401) 523-9555
Listed By:
Michael Alves · License #REC.0016995
(401) 523-9555
Source:
Evrealestate
Added: Jul 6
Changed: Aug 15
Last Checked: Aug 20 at 4:29AM
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 RE/MAX
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 = 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
$26,908
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
5.93%
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%
$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
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
$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 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%
$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
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
