Two-Family Duplex with Fenced
For Sale
$469,900
Pending
407 Park St, New Bedford, MA 02740
Two residential units each offer living, dining, kitchen, bedrooms, and a full bathroom, with off-street parking.
Property Size2,402 SF
Days on Market153
Property Features for 407 Park St
General Information
Standard status
Pending
Size
2,402 SF
Property subtype
2 Family - 2 Units Up/Down
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,997
Amenities
off-street parking
fenced-in yard
Building Details
Building Size
2,402 SF
Year Built
1913
Listing Agency:
Keller Williams Realty
Listed By:
Lisa Bowman
(508) 995-2676
Source:
Paulgrover
Added: May 6
Changed: Oct 4
Last Checked: Oct 4 at 1:35PM
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.
Built in 1913, this 2,402-square-foot duplex contains two residential units with distinct living areas. The first-floor residence includes two bedrooms, a full bathroom, living room, dining room, and eat-in kitchen. Upstairs, the second unit provides three bedrooms, a full bathroom, living room, dining room, and eat-in kitchen.
The property is located at 407 Park St in New Bedford’s West End. Exterior features include off-street parking and a fenced yard, adding practical outdoor space to the two-unit configuration.
The property is located at 407 Park St in New Bedford’s West End. Exterior features include off-street parking and a fenced yard, adding practical outdoor space to the two-unit configuration.
Key Highlights
- Two‑family duplex with 2,402 SF of building area
- First‑floor unit includes 2 bedrooms and 1 full bath
- Second‑floor unit includes 3 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,528
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,560
$690.6K
Cap Rate 7%
$493,257
$493.3K
Cap Rate 9%
$383,644
$383.6K
Market Conditions
NOI Build-Up for 2,402 SF
Gross rent
$53.3K $22.20/SF
− Vacancy
−$4.0K −$1.67/SF
EGI
$49.3K $20.54/SF
− OpEx
−$14.8K −$6.16/SF
NOI
$34.5K $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%
$690,560
Cap Rate 7%
$493,257
Cap Rate 9%
$383,644
Alternative Uses
Best Use
Multifamily LT 5
$493.3K
$431.6K – $575.5K
NOI $34,528 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$452.8K
$396.2K – $528.3K
NOI $31,698 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$708.2K
$619.7K – $826.3K
NOI $49,577 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
829
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units each offer living, dining, kitchen, bedrooms, and a full bathroom, with off-street parking.
Where is this duplex located?
The property is located at 407 Park St New Bedford, MA.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Two‑family duplex with 2,402 SF of building area; First‑floor unit includes 2 bedrooms and 1 full bath; Second‑floor unit includes 3 bedrooms and 1 full bath
