Hardwood-Floor
22 Rodney St, New Bedford, MA 02744
For Sale
New
$549,900
Two residential units offer matching two-bedroom layouts with distinct living and dining areas.
Property Size2,752 SF
Price / SF$199.82
Days on Market7
Property Features for 22 Rodney St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
high ceilings
hardwood floors
large yard
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Millennium Realty Firm, LLC
Listed By:
Matthew Medeiros · License #CN200871
(774) 634-6702
Source:
Paulgrover
Added: Nov 1
Changed: Nov 3
Last Checked: Nov 6 at 2:28PM
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 Millennium Realty Firm, LLC
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Investment Insights
Based on property information with market context.
This 2,752-square-foot duplex, built in 1885, contains two units with two bedrooms apiece. High ceilings and hardwood flooring run through the property, while each residence has an open layout with living and dining areas. A large yard provides additional outdoor space.
The property is at 22 Rodney St in New Bedford, near Fort Taber and the shoreline. Nearby destinations named for the area include seafood restaurants, marinas, the Cove Walk, and harbor trails.
The property is at 22 Rodney St in New Bedford, near Fort Taber and the shoreline. Nearby destinations named for the area include seafood restaurants, marinas, the Cove Walk, and harbor trails.
Key Highlights
- 2,752 square feet of total living area
- Two units, each with two bedrooms
- Built in 1885
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,559
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,180
$791.2K
Cap Rate 7%
$565,129
$565.1K
Cap Rate 9%
$439,544
$439.5K
Market Conditions
NOI Build-Up for 2,752 SF
Gross rent
$61.1K $22.20/SF
− Vacancy
−$4.6K −$1.67/SF
EGI
$56.5K $20.54/SF
− OpEx
−$17.0K −$6.16/SF
NOI
$39.6K $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 Rate 5%
$791,180
Cap Rate 7%
$565,129
Cap Rate 9%
$439,544
Alternative Uses
Best Use
Multifamily LT 5
$565.1K
$494.5K – $659.3K
NOI $39,559 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$518.8K
$454.0K – $605.3K
NOI $36,317 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$811.4K
$710.0K – $946.7K
NOI $56,801 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
417
Businesses Nearby
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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
$344,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in New Bedford, MA
Properties on Market for Duplexes in New Bedford
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer matching two-bedroom layouts with distinct living and dining areas.
Where is this duplex located?
The property is located at 22 Rodney St New Bedford, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,752 square feet of total living area; Two units, each with two bedrooms; Built in 1885
