Duplex with Oversized
New
For Sale
$600,000
35-37 Central Ave, New Bedford, MA 02745
Both residences have three bedrooms, with additional space in the upper unit and basement.
Property Size2,330 SF
Price / SF$257.51
Days on Market3
Property Features for 35-37 Central Ave
General Information
Standard status
Active
Size
2,330 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Building Details
Year Built
1921
Buildings
1
Listing Agency:
Freedom Realty Group LLC
(774) 361-2794
Listed By:
Gary Gagne Jr. · License #9588828
(508) 292-6954
Source:
Lockandkeyre
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 2:30PM
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 Freedom Realty Group LLC
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Investment Insights
Based on property information with market context.
This 2,330-square-foot duplex, built in 1921, has two three-bedroom units. The upper residence follows a cottage-style layout that continues through the third floor. The lower unit connects directly to a partially finished basement. The property has undergone renovation and includes an oversized one-car garage and two driveways for off-street parking and storage.
The property is a short drive from a commuter rail station, restaurants, shopping, and major highways.
The property is a short drive from a commuter rail station, restaurants, shopping, and major highways.
Key Highlights
- 2,330‑square‑foot duplex built in 1921
- Two units, each with 3 bedrooms
- Upper unit's cottage‑style layout extends to the third floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,493
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$669,860
$669.9K
Cap Rate 7%
$478,471
$478.5K
Cap Rate 9%
$372,144
$372.1K
Market Conditions
NOI Build-Up for 2,330 SF
Gross rent
$51.7K $22.20/SF
− Vacancy
−$3.9K −$1.67/SF
EGI
$47.8K $20.54/SF
− OpEx
−$14.4K −$6.16/SF
NOI
$33.5K $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%
$669,860
Cap Rate 7%
$478,471
Cap Rate 9%
$372,144
Alternative Uses
Best Use
Multifamily LT 5
$478.5K
$418.7K – $558.2K
NOI $33,493 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$439.3K
$384.4K – $512.5K
NOI $30,748 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$687.0K
$601.1K – $801.5K
NOI $48,091 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
817
Businesses Nearby
Explore this area
Business Placement
Demographics for 02745, MA
25,336
Population
10,649
Households
2.4
Avg Household Size
41
Median Age
20%
College-Educated
83%
High-School Grad
9.8 sq mi
ZIP Area
2,585
Density / Sq Mi
$73,154
Median Household Income
$46,978
Median Earnings
$1,104
Median Rent
$339,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have three bedrooms, with additional space in the upper unit and basement.
Where is this duplex located?
The property is located at 35-37 Central Ave New Bedford, MA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2,330‑square‑foot duplex built in 1921; Two units, each with 3 bedrooms; Upper unit's cottage‑style layout extends to the third floor
