Vacant Two-Unit Multifamily
For Sale
$429,900
17 Salisbury St, New Bedford, MA 02744
Two two-bedroom units feature separate utilities and updated interior finishes.
Property Size2,290 SF
Price / SF$187.73
Days on Market23
Property Features for 17 Salisbury St
General Information
Standard status
Active
Size
2,290 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
RC
Taxes and HOA fees
Annual Taxes
$4,163
Building Details
Building Size
2,290 SF
Year Built
1893
Stories
3
Listing Agency:
Pina & Savage Realty Inc.
(508) 930-4625
Listed By:
Yvonne M Pina
Source:
Insightrealtygroup
Added: Jul 29
Changed: Aug 19
Last Checked: Aug 20 at 4:05AM
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 Pina & Savage Realty Inc.
Investment Insights
Based on property information with market context.
This 2,290-square-foot duplex contains two two-bedroom residences and will be delivered vacant. The first-floor apartment includes a refreshed kitchen with tile flooring and backsplash, a renovated bathroom with a walk-in shower, and a mix of hardwood and laminate flooring. The upper unit has laminate flooring throughout. Both residences are served by separate utilities and newer gas space heaters, while updated circuit breakers support the electrical system.
The property at 17 Salisbury St, New Bedford, MA 02744, was built in 1893 and is zoned RC. Exterior improvements include vinyl siding and replacement vinyl windows. A paved driveway provides off-street parking for up to 3 vehicles. The full basement has access from inside and outside, with insulation installed throughout the home.
The property at 17 Salisbury St, New Bedford, MA 02744, was built in 1893 and is zoned RC. Exterior improvements include vinyl siding and replacement vinyl windows. A paved driveway provides off-street parking for up to 3 vehicles. The full basement has access from inside and outside, with insulation installed throughout the home.
Key Highlights
- Two 2‑bedroom units delivered completely vacant
- 2,290 SF duplex built in 1893
- Separate utilities and newer gas space heaters for both units
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
$32,918
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
7.66%
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%
$658,360
$658.4K
Cap Rate 7%
$470,257
$470.3K
Cap Rate 9%
$365,756
$365.8K
Market Conditions
NOI Build-Up for 2,290 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
$50.8K $22.20/SF
− Vacancy
−$3.8K −$1.67/SF
EGI
$47.0K $20.54/SF
− OpEx
−$14.1K −$6.16/SF
NOI
$32.9K $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%
$658,360
Cap Rate 7%
$470,257
Cap Rate 9%
$365,756
Alternative Uses
Best Use
Multifamily LT 5
$470.3K
$411.5K – $548.6K
NOI $32,918 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$431.7K
$377.8K – $503.7K
NOI $30,220 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$675.2K
$590.8K – $787.8K
NOI $47,266 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
575
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two two-bedroom units feature separate utilities and updated interior finishes.
Where is this duplex located?
The property is located at 17 Salisbury St New Bedford, MA.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Two 2‑bedroom units delivered completely vacant; 2,290 SF duplex built in 1893; Separate utilities and newer gas space heaters for both units
