Duplex with Off-Street
For Sale
$449,000
213 Austin Street, New Bedford, MA 02740
Two residential units provide three-bedroom layouts, updated electrical service, and added flexibility for an owner occupant or investor.
Property Size2,360 SF
Price / SF$190.25
Days on Market11
Property Features for 213 Austin Street
General Information
Standard status
Active
Size
2,360 SF
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
could benefit from some updates and attention
Additional Details
Multifamily Units
2
Building Details
Year Built
1889
Listing Agency:
The Real Estate Collaborative
(781) 361-0003
Listed By:
Sandy Andersen · License #451503038
(781) 878-2478
Source:
Trufantre
Added: Aug 22
Changed: Aug 31
Last Checked: Aug 31 at 8:02PM
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 The Real Estate Collaborative
Investment Insights
Based on property information with market context.
This duplex at 213 Austin St in New Bedford contains 2,360 square feet and was built in 1889. Both units include 3 bedrooms and 1 full bath. A walk-up third floor connects with the second-floor unit and could support an expanded two-level living arrangement, subject to the buyer’s plans and applicable requirements.
The property includes off-street parking and has received select mechanical updates. Electrical service has been updated, and the furnace was replaced in 2020. The existing configuration offers separate residential spaces within a two-unit property, with room for further improvements over time.
The property includes off-street parking and has received select mechanical updates. Electrical service has been updated, and the furnace was replaced in 2020. The existing configuration offers separate residential spaces within a two-unit property, with room for further improvements over time.
Key Highlights
- Two‑unit duplex at 213 Austin St, New Bedford, MA 02740
- Each unit includes 3 bedrooms and 1 full bath
- 2,360 square feet on the property
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
$33,924
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
7.56%
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%
$678,480
$678.5K
Cap Rate 7%
$484,629
$484.6K
Cap Rate 9%
$376,933
$376.9K
Market Conditions
NOI Build-Up for 2,360 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
$52.4K $22.20/SF
− Vacancy
−$3.9K −$1.67/SF
EGI
$48.5K $20.54/SF
− OpEx
−$14.5K −$6.16/SF
NOI
$33.9K $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%
$678,480
Cap Rate 7%
$484,629
Cap Rate 9%
$376,933
Alternative Uses
Best Use
Multifamily LT 5
$484.6K
$424.1K – $565.4K
NOI $33,924 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$444.9K
$389.3K – $519.1K
NOI $31,144 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$695.9K
$608.9K – $811.8K
NOI $48,710 @ 7.0% cap · market cap 10.85%
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
620
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 provide three-bedroom layouts, updated electrical service, and added flexibility for an owner occupant or investor.
Where is this duplex located?
The property is located at 213 Austin Street New Bedford, MA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two‑unit duplex at 213 Austin St, New Bedford, MA 02740; Each unit includes 3 bedrooms and 1 full bath; 2,360 square feet on the property
