Updated Duplex with Fenced
For Sale
$475,000
17 Social St, New Bedford, MA 02744
Two similar units offer three-bedroom layouts with living rooms, eat-in kitchens, and modern bathrooms.
Property Size2,048 SF
Price / SF$231.93
Days on Market78
Property Features for 17 Social St
General Information
Standard status
Active
Size
2,048 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
fenced exterior backyard
walk-up attic
basement with separate storage rooms
Building Details
Year Built
1906
Listing Agency:
Keller Williams Realty
(617) 593-2887
Listed By:
Christine Do · License #449518378
Source:
Rhodeislandhomesforsale
Added: Jun 16
Changed: Aug 31
Last Checked: Aug 31 at 5:51PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1906, this two-family property features matching unit layouts, each arranged with three bedrooms, a living room, an eat-in kitchen, and a modern bathroom. Improvements include newer kitchens and baths, laminate flooring, hot water tanks, gas heating systems, electrical panels, vinyl replacement windows, and vinyl siding. A walk-up attic and basement with separate storage rooms add functional flexibility, while the fenced backyard provides outdoor space.
The property is located at 17 Social St in New Bedford, near downtown and within reach of restaurants, shops, a school, and the New Bedford State Pier. The existing configuration and completed updates provide a straightforward residential income property with additional storage and usable exterior space.
The property is located at 17 Social St in New Bedford, near downtown and within reach of restaurants, shops, a school, and the New Bedford State Pier. The existing configuration and completed updates provide a straightforward residential income property with additional storage and usable exterior space.
Key Highlights
- Two‑family property built in 1906
- Each unit can be used as a 3‑bedroom layout
- Newer kitchens, bathrooms, hot water tanks, gas heating systems, and electrical panels
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
$29,439
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
6.20%
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%
$588,780
$588.8K
Cap Rate 7%
$420,557
$420.6K
Cap Rate 9%
$327,100
$327.1K
Market Conditions
NOI Build-Up for 2,048 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
$45.5K $22.20/SF
− Vacancy
−$3.4K −$1.67/SF
EGI
$42.1K $20.54/SF
− OpEx
−$12.6K −$6.16/SF
NOI
$29.4K $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%
$588,780
Cap Rate 7%
$420,557
Cap Rate 9%
$327,100
Alternative Uses
Best Use
Multifamily LT 5
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$386.1K
$337.8K – $450.5K
NOI $27,027 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$603.9K
$528.4K – $704.5K
NOI $42,271 @ 7.0% cap · market cap 8.90%
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
674
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 - Two similar units offer three-bedroom layouts with living rooms, eat-in kitchens, and modern bathrooms.
Where is this duplex located?
The property is located at 17 Social St New Bedford, MA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑family property built in 1906; Each unit can be used as a 3‑bedroom layout; Newer kitchens, bathrooms, hot water tanks, gas heating systems, and electrical panels
