Two-Family
40 GLENNON STREET, New Bedford, MA 02745
For Sale
New
$520,000
Two residential units offer flexibility for household use or rental occupancy.
Property Size2,290 SF
Price / SF$227.07
Days on Market7
Property Features for 40 GLENNON STREET
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
RE/MAX Vantage
Listed By:
Michael Nunes
(774) 581-1533
Source:
Idx.mlspin
Added: Nov 8
Last Checked: Nov 12 at 4:10AM
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 RE/MAX Vantage
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Investment Insights
Based on property information with market context.
Located at 40 Glennon Street in New Bedford, this duplex contains two residential units within a 2,290-square-foot building. The property was built in 1923 and is classified as a residential income asset.
The surrounding area provides access to shopping, restaurants, schools, parks, and major commuter routes.
The surrounding area provides access to shopping, restaurants, schools, parks, and major commuter routes.
Key Highlights
- Two‑unit residential property
- 2,290 square feet of building area
- Built in 1923
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,918
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$658,360
$658.4K
Cap Rate 7%
$470,257
$470.3K
Cap Rate 9%
$365,756
$365.8K
Market Conditions
NOI Build-Up for 2,290 SF
Gross rent
$50.8K $22.20/SF
− Vacancy
−$3.8K −$1.67/SF
EGI
$47.0K $20.54/SF
− OpEx
−$14.1K −$6.16/SF
NOI
$32.9K $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%
$658,360
Cap Rate 7%
$470,257
Cap Rate 9%
$365,756
Alternative Uses
Best Use
Multifamily LT 5
$470.3K
$411.5K – $548.6K
NOI $32,918 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$431.7K
$377.8K – $503.7K
NOI $30,220 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$675.2K
$590.8K – $787.8K
NOI $47,266 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
906
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
$339,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in New Bedford, MA
Properties on Market for Duplexes in New Bedford
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer flexibility for household use or rental occupancy.
Where is this duplex located?
The property is located at 40 GLENNON STREET New Bedford, MA.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Two‑unit residential property; 2,290 square feet of building area; Built in 1923
