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Cottage-Style Two-Family Near Downtown

311 Purchase St, New Bedford, MA 02740

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For Sale

$499,900

Spacious two-family home with recent upgrades and income potential.

Type:2 Family - 2 Units Up/Down

Property size:

2,410 SF

Price / SF:

$207/SF

HighLights

Two‑family home ideal for a growing family or investor.
Potential to add 4 bedrooms or an extra unit on the third level for increased profit.
Recent renovations include newer windows, hot water tanks, and a new roof.
Unit 2 features a recently renovated 4 bedrooms, 1 bath with an oversized double parlor.
Located minutes from downtown, the highway, and a shopping center.
Situated on a major bus route for easy accessibility.

We can help!

Contact an agent

Luis Martins Realty Team

Learn more

For Sale

$499,900

Spacious two-family home with recent upgrades and income potential.

Type:2 Family - 2 Units Up/Down

Property size:

2,410 SF

Price / SF:

$207/SF

Added:: Apr 8, 2026
Days on Market:: 90
Last Refresh:: Apr 20 at 7:09 pm

Property Features for 311 Purchase St

General Information

Standard status: Active
Size: 2,410 SF
Property subtype: 2 Family - 2 Units Up/Down

Building Details

Year Built: 1886

We can help!

Contact an agent

Luis Martins Realty Team

Listing office RE/MAX Synergy

Listing date Apr 8, 2026

Source Lockandkeyre

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 Synergy

HighLights

Two‑family home ideal for a growing family or investor.
Potential to add 4 bedrooms or an extra unit on the third level for increased profit.
Recent renovations include newer windows, hot water tanks, and a new roof.
Unit 2 features a recently renovated 4 bedrooms, 1 bath with an oversized double parlor.
Located minutes from downtown, the highway, and a shopping center.
Situated on a major bus route for easy accessibility.

Overview

This cottage-style two-family property is located minutes from the downtown area. Unit one features a double parlor, three bedrooms, and one bathroom. The second unit, recently renovated, includes four bedrooms, one bathroom, and an oversized double parlor. Recent renovations and upgrades include newer windows, hot water tanks, and a new roof. The third level offers the potential to add four bedrooms or an additional unit. The property is located on a major bus route and is minutes from the highway and shopping center, offering accessibility.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$53.5k	$22.20
− Vacancy	−$4.0k	−$1.67
EGI	$49.5k	$20.54
− OpEx	−$14.8k	−$6.16
NOI	$34.6k	$14.37

2,410 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$494.9K

$433.0K – $577.4K (±1% cap)

NOI $34,643 @ 7.0% cap · market cap 6.93%

Second Best

Apartment 5plus

$454.3K

$397.6K – $530.1K (±1% cap)

NOI $31,804 @ 7.0% cap · market cap 6.36%

Theoretical Best

Office A

$710.6K

$621.8K – $829.0K (±1% cap)

NOI $49,742 @ 7.0% cap · market cap 9.95%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: New Bedford
County: Bristol
State: Massachusetts
Longitude: -70.924634
Latitude: 41.626105

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For sale
Duplexes
MA
New Bedford
02740
311 Purchase St

What type of property is this?

Duplex - Spacious two-family home with recent upgrades and income potential.

Where is this duplex located?

The property is located at 311 Purchase St New Bedford, MA.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Two‑family home ideal for a growing family or investor.; Potential to add 4 bedrooms or an extra unit on the third level for increased profit.; Recent renovations include newer windows, hot water tanks, and a new roof.