Remodeled Two-Family
For Sale
$479,900
Pending
233 Maxfield St, New Bedford, MA 02740
Two-unit duplex with each unit updated, including separate utilities and both delivered vacant at closing.
Property Size2,294 SF
Days on Market90
Property Features for 233 Maxfield St
General Information
Standard status
Pending
Size
2,294 SF
Property subtype
Multi Family Home
Zoning
RB
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,586
Building Details
Building Size
2,294 SF
Year Built
1876
Stories
2
Units
2
Listing Agency:
RE/MAX Vantage
(774) 992-0297
Listed By:
Fabio Bicho
(774) 305-5820
Source:
Janicemitchellre
Added: Jun 12
Changed: Aug 7
Last Checked: Jul 23 at 6:34AM
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 RE/MAX Vantage
Investment Insights
Based on property information with market context.
This remodeled two-family property offers updated interiors across both units, with bright, spacious living areas and refreshed kitchens and bathrooms. Updates also include fresh paint and stylish flooring throughout. The property is configured with separate utilities for added convenience and flexibility.
Both units are delivered vacant at closing, which supports immediate move-in for an owner-occupant or the start of new tenancy for an investor.
The duplex layout provides two independent living units within a single property, making it well suited for buyers seeking an owner-occupant arrangement or a straightforward two-unit rental setup.
Both units are delivered vacant at closing, which supports immediate move-in for an owner-occupant or the start of new tenancy for an investor.
The duplex layout provides two independent living units within a single property, making it well suited for buyers seeking an owner-occupant arrangement or a straightforward two-unit rental setup.
Key Highlights
- Two‑family duplex built in 1876 with both units updated
- Both units delivered vacant at closing, ready for move‑in or immediate rental income
- Each unit features updated kitchens and updated baths
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
$32,975
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
6.87%
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%
$659,500
$659.5K
Cap Rate 7%
$471,071
$471.1K
Cap Rate 9%
$366,389
$366.4K
Market Conditions
NOI Build-Up for 2,294 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
$50.9K $22.20/SF
− Vacancy
−$3.8K −$1.67/SF
EGI
$47.1K $20.54/SF
− OpEx
−$14.1K −$6.16/SF
NOI
$33.0K $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%
$659,500
Cap Rate 7%
$471,071
Cap Rate 9%
$366,389
Alternative Uses
Best Use
Multifamily LT 5
$471.1K
$412.2K – $549.6K
NOI $32,975 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$432.5K
$378.4K – $504.6K
NOI $30,273 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$676.4K
$591.9K – $789.1K
NOI $47,348 @ 7.0% cap · market cap 9.87%
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
1,986
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with each unit updated, including separate utilities and both delivered vacant at closing.
Where is this duplex located?
The property is located at 233 Maxfield St New Bedford, MA.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Two‑family duplex built in 1876 with both units updated; Both units delivered vacant at closing, ready for move‑in or immediate rental income; Each unit features updated kitchens and updated baths
