Two-Family Residential
For Sale
$529,900
Pending
307 Austin St, New Bedford, MA 02740
MULTI_FAMILY - New Bedford, MA
Property Size1,792 SF
Lot Size0.07 Acres
Days on Market63
Property Features for 307 Austin St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 4
Parking
3
Directions
GPS
Standard status
Pending
APN
M:0076 L:0135,2895804
Size
1,792 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4080
Building Details
Year built
1913
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Jun 12
Changed: Aug 3
Last Checked: Aug 13 at 2:06AM
MLS# 73535065
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family residential building was freshly painted and updated and is delivered fully vacant, offering flexibility for an owner-occupant or for rental use. The first-floor unit has two bedrooms, while the second-floor unit offers three bedrooms. Both units are heated with baseboard heat and include kitchen appliances: dishwasher, microwave, range, and refrigerator. Updates and in-place features include butcher block countertops, select replacement windows, and regularly serviced water heaters.
Recent exterior and systems improvements include a newer roof (approximately two years old). Laundry hookups are available for both units, with first-floor hookups conveniently located in the bathroom and second-floor hookups located in the basement. The attic includes rough plumbing for a future bathroom, which may support additional living space.
The property sits on a 0.0709-acre lot and was built in 1913. It is close to the MBTA commuter rail, shopping, dining, and highway access. Zoning is RB.
Recent exterior and systems improvements include a newer roof (approximately two years old). Laundry hookups are available for both units, with first-floor hookups conveniently located in the bathroom and second-floor hookups located in the basement. The attic includes rough plumbing for a future bathroom, which may support additional living space.
The property sits on a 0.0709-acre lot and was built in 1913. It is close to the MBTA commuter rail, shopping, dining, and highway access. Zoning is RB.
Key Highlights
- Two‑family building with two‑bedroom first‑floor unit and three‑bedroom second‑floor unit
- Baseboard heat in both units with dishwashers, microwaves, ranges, and refrigerators
- Newer roof from approximately two years ago plus select replacement windows
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
Multi-tenant
Tenancy
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 - Two-unit property with baseboard heat and a newer roof, delivered fully vacant for owner-occupant or rental use.
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 building with two‑bedroom first‑floor unit and three‑bedroom second‑floor unit; Baseboard heat in both units with dishwashers, microwaves, ranges, and refrigerators; Newer roof from approximately two years ago plus select replacement windows
