New Construction Duplex
For Sale
$799,900
16 Washburn Street, New Bedford, MA 02740
Two residential units include a three-bedroom flat and a five-bedroom townhouse with separate climate control for each bedroom.
Property Size2,850 SF
Price / SF$280.67
Days on Market163
Property Features for 16 Washburn Street
General Information
Standard status
Active
Size
2,850 SF
Total Parking Spaces
8
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
IA
Units
Unit Mix
1 x 3BR/1BA, 1 x 5BR/2BA
Multifamily Units
2
Amenities
high end appliances
ice maker
pot filler
slow close cabinets
one way mirror windows
individual heating & cooling
split in unit
waterfall & vertical jet shower
full laundry room
off-street parking lot
green backyard
City/Town Sewer, Public
No
Vinyl
3.0
Full, Interior Access, Sump Pump, Concrete Floor, Unfinished Basement
3
3.00
Fenced/Enclosed
Frame
Shingle
Level, Other
Rain Gutters, Porch
Porch
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Redlon Realty LLC
(774) 259-4057
Listed By:
Adam Walorz · License #9570473
(774) 259-4057
Source:
Compass
Added: Mar 23
Changed: Aug 31
Last Checked: Aug 29 at 7:40PM
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.
Built in 2026, this duplex at 16 Washburn Street includes two distinct residences: a three-bedroom, one-bath unit and a five-bedroom, two-bath townhouse-style unit. The townhouse includes space that could accommodate an additional kitchen, subject to applicable requirements. The property offers eight bedrooms and three bathrooms overall, along with full laundry facilities and appliance packages featuring ice makers and a pot filler above the range.
Each bedroom has individual heating and cooling, while interior finishes include slow-close cabinetry, waterfall and vertical-jet showers, and one-way mirror windows. The vinyl-sided exterior includes a porch, rain gutters, and a fenced backyard. A substantial off-street parking area and unfinished basement with concrete flooring, interior access, and a sump pump add practical utility. The property is identified as IA-zoned.
Each bedroom has individual heating and cooling, while interior finishes include slow-close cabinetry, waterfall and vertical-jet showers, and one-way mirror windows. The vinyl-sided exterior includes a porch, rain gutters, and a fenced backyard. A substantial off-street parking area and unfinished basement with concrete flooring, interior access, and a sump pump add practical utility. The property is identified as IA-zoned.
Key Highlights
- Built in 2026 with 8 bedrooms and 3 bathrooms
- Two‑unit layout: 3‑bedroom, 1‑bath unit plus 5‑bedroom, 2‑bath townhouse
- Townhouse‑style unit includes space for an additional kitchen
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
$40,967
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
5.12%
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%
$819,340
$819.3K
Cap Rate 7%
$585,243
$585.2K
Cap Rate 9%
$455,189
$455.2K
Market Conditions
NOI Build-Up for 2,850 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
$63.3K $22.20/SF
− Vacancy
−$4.7K −$1.67/SF
EGI
$58.5K $20.54/SF
− OpEx
−$17.6K −$6.16/SF
NOI
$41.0K $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%
$819,340
Cap Rate 7%
$585,243
Cap Rate 9%
$455,189
Alternative Uses
Best Use
Multifamily LT 5
$585.2K
$512.1K – $682.8K
NOI $40,967 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$537.3K
$470.1K – $626.9K
NOI $37,611 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$840.3K
$735.3K – $980.4K
NOI $58,824 @ 7.0% cap · market cap 7.35%
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
763
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include a three-bedroom flat and a five-bedroom townhouse with separate climate control for each bedroom.
Where is this duplex located?
The property is located at 16 Washburn Street New Bedford, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Built in 2026 with 8 bedrooms and 3 bathrooms; Two‑unit layout: 3‑bedroom, 1‑bath unit plus 5‑bedroom, 2‑bath townhouse; Townhouse‑style unit includes space for an additional kitchen
