Updated Quadplex with Attic
For Sale
$789,999
392-394 Shaw St, New Bedford, MA 02745
Four-unit property with recent upgrades, backyard space, and two off-street parking spaces near a train station.
Property Size3,372 SF
Price / SF$234.28
Days on Market101
Property Features for 392-394 Shaw St
General Information
Standard status
Active
Size
3,372 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
RC
Net Operating Income
$32,400
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,722
Amenities
backyard
Building Details
Building Size
3,372 SF
Year Built
1910
Stories
6
Listing Agency:
Austin Realty Group
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 23
Changed: Aug 29
Last Checked: Aug 30 at 1:46PM
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 Austin Realty Group
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 3,372 square feet and was built in 1910. Recent upgrades have been completed throughout, and the individual units have been maintained for continued residential use. The property also includes an unfinished attic that may support a fifth unit or expanded living area, subject to buyer due diligence and required city approvals.
Outdoor features include a spacious backyard and two off-street parking spaces. The property is located near a train station in New Bedford, Massachusetts, and carries RC zoning. Its existing four-unit configuration, additional attic area, and updated interior provide a range of considerations for an investor or owner-occupant.
Outdoor features include a spacious backyard and two off-street parking spaces. The property is located near a train station in New Bedford, Massachusetts, and carries RC zoning. Its existing four-unit configuration, additional attic area, and updated interior provide a range of considerations for an investor or owner-occupant.
Key Highlights
- Four‑unit multifamily property with 3,372 SF
- Recent upgrades throughout the property
- Unfinished attic with possible fifth‑unit or living‑area expansion, subject to approvals
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
$48,471
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
6.14%
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%
$969,420
$969.4K
Cap Rate 7%
$692,443
$692.4K
Cap Rate 9%
$538,567
$538.6K
Market Conditions
NOI Build-Up for 3,372 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
$74.9K $22.20/SF
− Vacancy
−$5.6K −$1.67/SF
EGI
$69.2K $20.54/SF
− OpEx
−$20.8K −$6.16/SF
NOI
$48.5K $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 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%
$969,420
Cap Rate 7%
$692,443
Cap Rate 9%
$538,567
Alternative Uses
Best Use
Multifamily LT 5
$692.4K
$605.9K – $807.9K
NOI $48,471 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$635.7K
$556.2K – $741.7K
NOI $44,499 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$994.3K
$870.0K – $1.16M
NOI $69,598 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
780
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with recent upgrades, backyard space, and two off-street parking spaces near a train station.
Where is this quadplex located?
The property is located at 392-394 Shaw St New Bedford, MA.
What is the asking price?
The asking price for this property is $789,999.
What are key features of this property?
This property features: Four‑unit multifamily property with 3,372 SF; Recent upgrades throughout the property; Unfinished attic with possible fifth‑unit or living‑area expansion, subject to approvals
