Two-Family Duplex With
New
For Sale
$725,000
359-361 Brock Ave, New Bedford, MA 02744
MULTI_FAMILY - New Bedford, MA
Property Size2,492 SF
Lot Size0.10 Acres
Price / SF$290.93
Days on Market1
Property Features for 359-361 Brock Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MUB
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 2
Parking
5
Directions
GPS
Standard status
Active
APN
2883448
Size
2,492 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5025
Building Details
Year built
1925
Floors in Building
3
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: Aug 15
Last Checked: Aug 15 at 3:06AM
MLS# 73562696
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 1925 duplex contains two three-bedroom units within 2,492 square feet, along with a loft area that adds usable flexibility. The property includes a two-car garage and an additional lot. Mass Save improvements include blown-in insulation throughout, while energy-efficient boilers are approximately 5 years old. Other updates include newer oil tanks, a roof approximately 7 years old, windows approximately 10 years old, and wiring completed in 2024.
Located at 359-361 Brock Ave in New Bedford, the property is zoned MUB and occupies 0.0956 acres. Area beaches, trails, amenities, and the MBTA Commuter Rail are in close proximity. The two-unit layout and separate living spaces support owner occupancy, investment use, or extended-family living, as described for the property.
Located at 359-361 Brock Ave in New Bedford, the property is zoned MUB and occupies 0.0956 acres. Area beaches, trails, amenities, and the MBTA Commuter Rail are in close proximity. The two-unit layout and separate living spaces support owner occupancy, investment use, or extended-family living, as described for the property.
Key Highlights
- Two 3‑bedroom units within 2,492 square feet
- 2‑car garage plus an additional lot
- MUB zoning on a 0.0956‑acre property
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
$35,821
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%
$716,420
$716.4K
Cap Rate 7%
$511,729
$511.7K
Cap Rate 9%
$398,011
$398.0K
Market Conditions
NOI Build-Up for 2,492 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
$55.3K $22.20/SF
− Vacancy
−$4.1K −$1.67/SF
EGI
$51.2K $20.54/SF
− OpEx
−$15.4K −$6.16/SF
NOI
$35.8K $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%
$716,420
Cap Rate 7%
$511,729
Cap Rate 9%
$398,011
Alternative Uses
Best Use
Multifamily LT 5
$511.7K
$447.8K – $597.0K
NOI $35,821 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$469.8K
$411.1K – $548.1K
NOI $32,886 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$734.8K
$642.9K – $857.3K
NOI $51,435 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Explore this area
Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
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 three-bedroom units, a loft area, and Mass Save improvements provide a flexible residential configuration.
Where is this duplex located?
The property is located at 359-361 Brock Ave New Bedford, MA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two 3‑bedroom units within 2,492 square feet; 2‑car garage plus an additional lot; MUB zoning on a 0.0956‑acre property
