Two-Family Residential Income
For Sale
$650,000
Pending
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
Days on Market111
Property Features for 321 Arnold Street
General Information
Standard status
Pending
Size
2,236 SF
Total Parking Spaces
4
Lot size
9,000.00 Acres
Property subtype
Multi-family / 2 Family - 2 Units Up/Down
Zoning
RB
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,264
Amenities
No
Varies, Tile, Hardwood
Range, Microwave, Refrigerator, Dishwasher
2.0
Screens
Full, Partially Finished, Interior Access
Ceiling Fan(s), Stone/Granite/Solid Counters, Bathroom With Tub & Shower, Walk-Up Attic, Bathroom with Shower Stall, Remodeled, Living Room, Dining Room, Kitchen, Window AC
2
2.00
Fenced/Enclosed, Fenced
Frame
Shingle
Level
Shed(s)
Varies per Unit, Fenced Yard, Screens, Porch, Patio
Porch, Patio
Building Details
Year Built
1897
Listing Agency:
Compass
Listed By:
Mathew J. Arruda · License #9560412
(508) 965-8683
Source:
Compass
Added: Jul 13
Changed: Oct 25
Last Checked: Oct 30 at 5:23PM
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
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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 / Yr
$32,141
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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
