Two-Family Residential Income
For Sale
$529,900
Pending
307 Austin St, New Bedford, MA 02740
Updated two-family home with in-unit appliances, baseboard heat, and options for expanding living space.
Property Size1,792 SF
Days on Market65
Property Features for 307 Austin St
General Information
Standard status
Pending
Size
1,792 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,080
Building Details
Building Size
1,792 SF
Year Built
1913
Stories
2
Units
2
Listing Agency:
Keller Williams South Watuppa
(508) 916-0129
Listed By:
Kristy Washburn
(508) 916-0129
Source:
Elliman
Added: Jun 17
Changed: Aug 16
Last Checked: Aug 20 at 9:41AM
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 South Watuppa
Investment Insights
Based on property information with market context.
This two-family property has been freshly painted and updated, with each unit equipped with baseboard heat. The first-floor unit offers two bedrooms, while the second-floor unit provides three bedrooms. Both kitchens include a dishwasher, microwave, range, and refrigerator, complemented by butcher block countertops. Additional practical upgrades include a newer roof (approximately two years old), select replacement windows, and water heaters that are regularly serviced.
Laundry hookups are available for both units, with first-floor hookups located in the bathroom and second-floor hookups in the basement. The attic includes rough plumbing for a future bathroom, creating the potential to add additional living space if desired. The property is delivered fully vacant, offering straightforward move-in timing for an owner-occupant or immediate readiness for a rental-focused buyer.
From a tenant and operator perspective, the unit layouts provide distinct bedroom counts for household needs, while shared appliance packages and straightforward utilities help simplify day-to-day management. For buyers considering expansion, the rough plumbing in the attic provides a concrete starting point for adding another bathroom and potentially enhancing the second-floor living experience. Convenient access to the MBTA commuter rail, shopping, dining, and highway makes this home practical for both occupants and future renters.
Laundry hookups are available for both units, with first-floor hookups located in the bathroom and second-floor hookups in the basement. The attic includes rough plumbing for a future bathroom, creating the potential to add additional living space if desired. The property is delivered fully vacant, offering straightforward move-in timing for an owner-occupant or immediate readiness for a rental-focused buyer.
From a tenant and operator perspective, the unit layouts provide distinct bedroom counts for household needs, while shared appliance packages and straightforward utilities help simplify day-to-day management. For buyers considering expansion, the rough plumbing in the attic provides a concrete starting point for adding another bathroom and potentially enhancing the second-floor living experience. Convenient access to the MBTA commuter rail, shopping, dining, and highway makes this home practical for both occupants and future renters.
Key Highlights
- Two‑family home built in 1913 with first‑floor 2BD and second‑floor 3BD layouts
- Updated interiors with baseboard heat and kitchen appliances including dishwasher, microwave, range, and refrigerator
- Newer roof, approximately 2 years old, plus select replacement windows and regularly serviced water heaters
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
$25,759
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
4.86%
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%
$515,180
$515.2K
Cap Rate 7%
$367,986
$368.0K
Cap Rate 9%
$286,211
$286.2K
Market Conditions
NOI Build-Up for 1,792 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
$39.8K $22.20/SF
− Vacancy
−$3.0K −$1.67/SF
EGI
$36.8K $20.54/SF
− OpEx
−$11.0K −$6.16/SF
NOI
$25.8K $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%
$515,180
Cap Rate 7%
$367,986
Cap Rate 9%
$286,211
Alternative Uses
Best Use
Multifamily LT 5
$368.0K
$322.0K – $429.3K
NOI $25,759 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$337.8K
$295.6K – $394.1K
NOI $23,648 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$528.4K
$462.3K – $616.5K
NOI $36,987 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
395
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 - Updated two-family home with in-unit appliances, baseboard heat, and options for expanding living space.
Where is this duplex located?
The property is located at 307 Austin St New Bedford, MA.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Two‑family home built in 1913 with first‑floor 2BD and second‑floor 3BD layouts; Updated interiors with baseboard heat and kitchen appliances including dishwasher, microwave, range, and refrigerator; Newer roof, approximately 2 years old, plus select replacement windows and regularly serviced water heaters
