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Building Details

Building Size 3,372 SF

Year Built 1910

Stories 6

Listing Agency: Ponte & Associates Real Estate Inc. Show Phone

Listed By: Taylor Khoury Show Phone

Source: Churchillprop

Added: May 23 Changed: Oct 6 Last Checked: Oct 14 at 9:04PM

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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 Ponte & Associates Real Estate Inc.

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.

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 / Yr

$48,471

Cap Rate

6.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$969,420 $969.4K

Cap Rate 7%

$692,443 $692.4K

Cap Rate 9%

$538,567 $538.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,372 SF

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 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 (±1% cap)

NOI $48,471 @ 7.0% cap · market cap 6.14%

Second Best

Apartment 5plus

$635.7K

$556.2K – $741.7K (±1% cap)

NOI $44,499 @ 7.0% cap · market cap 5.63%

Theoretical Best

Office A

$994.3K

$870.0K – $1.16M (±1% cap)

NOI $69,598 @ 7.0% cap · market cap 8.81%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Daycare Center Acupuncture Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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