Two-Unit Duplex with
For Sale
$625,000
382-384 West Clinton Street, New Bedford, MA 02740
Owner-occupant or investment property with two-bedroom units, fenced outdoor space, and seller-owned solar panels.
Property Size2,656 SF
Price / SF$235.32
Days on Market127
Property Features for 382-384 West Clinton Street
General Information
Standard status
Active
Size
2,656 SF
Total Parking Spaces
1
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
2
Amenities
fenced backyard
solar panels
enclosed porch
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Stephen Medeiros
(617) 262-6200
Source:
Cabotandcompany
Added: Apr 28
Changed: Aug 31
Last Checked: Aug 31 at 7:49PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 1915 duplex contains 2,656 square feet of living area across two matching residences. Each unit includes a kitchen, dining room, living room, family room, and two bedrooms. The first-floor residence has hardwood flooring, while the upper unit adds an enclosed porch and access to a partially finished walk-up attic. Heating is provided by a gas-fired hot-water system with cast-iron radiators.
The property at 382-384 West Clinton Street includes a fully fenced backyard and a one-car garage. Seller-owned solar panels serve the common meter and produce more than 10 MWh annually. Buttonwood Park and St. Luke's Hospital are located a few blocks away. The configuration supports either owner occupancy or an investment use, as stated in the property information.
The property at 382-384 West Clinton Street includes a fully fenced backyard and a one-car garage. Seller-owned solar panels serve the common meter and produce more than 10 MWh annually. Buttonwood Park and St. Luke's Hospital are located a few blocks away. The configuration supports either owner occupancy or an investment use, as stated in the property information.
Key Highlights
- 2,656‑square‑foot duplex with two two‑bedroom units
- Each residence includes a kitchen, dining room, living room, family room, and 2 bedrooms
- Upper unit includes an enclosed porch and partially finished walk‑up attic
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
$38,179
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
6.11%
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%
$763,580
$763.6K
Cap Rate 7%
$545,414
$545.4K
Cap Rate 9%
$424,211
$424.2K
Market Conditions
NOI Build-Up for 2,656 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
$59.0K $22.20/SF
− Vacancy
−$4.4K −$1.67/SF
EGI
$54.5K $20.54/SF
− OpEx
−$16.4K −$6.16/SF
NOI
$38.2K $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%
$763,580
Cap Rate 7%
$545,414
Cap Rate 9%
$424,211
Alternative Uses
Best Use
Multifamily LT 5
$545.4K
$477.2K – $636.3K
NOI $38,179 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$500.7K
$438.1K – $584.2K
NOI $35,050 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$783.1K
$685.3K – $913.7K
NOI $54,820 @ 7.0% cap · market cap 8.77%
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
1,180
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
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Frequently Asked Questions
What type of property is this?
Duplex - Owner-occupant or investment property with two-bedroom units, fenced outdoor space, and seller-owned solar panels.
Where is this duplex located?
The property is located at 382-384 West Clinton Street New Bedford, MA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,656‑square‑foot duplex with two two‑bedroom units; Each residence includes a kitchen, dining room, living room, family room, and 2 bedrooms; Upper unit includes an enclosed porch and partially finished walk‑up attic
