Two-Family Residential Income
For Sale
$650,000
321 Arnold Street, New Bedford, MA 02740
Two separate units each offer two bedrooms, and the second-floor residence is fully renovated.
Property Size2,236 SF
Lot Size9,000.00 Acres
Price / SF$290.70
Days on Market60
Property Features for 321 Arnold Street
General Information
Standard status
Active
Size
2,236 SF
Total Parking Spaces
5
Lot size
9,000.00 Acres
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1897
Listing Agency:
Compass
Listed By:
The Mathew J. Arruda Group · License #BK3153120
(850) 554-3142
Source:
Highlandre
Added: Jul 10
Changed: Sep 6
Last Checked: Sep 6 at 9:59AM
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 Compass
Investment Insights
Based on property information with market context.
This two-family residence features two separate units, each with two bedrooms and a spacious living area. The second-floor unit has been fully renovated with an updated design aesthetic and includes a dedicated office suite. Separate heating and electrical systems support independent operations.
Set on an oversized 9,000 SF lot, the property offers a large fenced-in backyard with mature trees, along with a private patio. A 5-car driveway provides off-street parking.
The property will be delivered fully vacant. It is centrally located with access to Downtown New Bedford and nearby highway access, and is close to St. Luke’s Hospital.
Set on an oversized 9,000 SF lot, the property offers a large fenced-in backyard with mature trees, along with a private patio. A 5-car driveway provides off-street parking.
The property will be delivered fully vacant. It is centrally located with access to Downtown New Bedford and nearby highway access, and is close to St. Luke’s Hospital.
Key Highlights
- Two‑family residence built in 1897 with two separate units
- Each unit offers 2 bedrooms and a spacious living area
- Second‑floor residence is fully renovated and includes a dedicated office suite
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
$32,141
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
4.94%
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%
$642,820
$642.8K
Cap Rate 7%
$459,157
$459.2K
Cap Rate 9%
$357,122
$357.1K
Market Conditions
NOI Build-Up for 2,236 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
$49.6K $22.20/SF
− Vacancy
−$3.7K −$1.67/SF
EGI
$45.9K $20.54/SF
− OpEx
−$13.8K −$6.16/SF
NOI
$32.1K $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%
$642,820
Cap Rate 7%
$459,157
Cap Rate 9%
$357,122
Alternative Uses
Best Use
Multifamily LT 5
$459.2K
$401.8K – $535.7K
NOI $32,141 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$421.5K
$368.9K – $491.8K
NOI $29,508 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$659.3K
$576.9K – $769.2K
NOI $46,151 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,318
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 separate units each offer two bedrooms, and the second-floor residence is fully renovated.
Where is this duplex located?
The property is located at 321 Arnold Street New Bedford, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑family residence built in 1897 with two separate units; Each unit offers 2 bedrooms and a spacious living area; Second‑floor residence is fully renovated and includes a dedicated office suite
