Two-Family Residential Income
407 Park Street New Bedford, MA 02740
407 Park Street, New Bedford, MA, 02740
$469,900
For Sale
$469,900
Two-unit home with off-street parking and a fenced yard in New Bedford’s West End.
Property Size2,402 SF
Price / SF$195.63
Days on Market82
Property Features for 407 Park Street
General Information
- Standard status
- Active
- Size
- 2,402 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1913
Listing agency
Keller Williams Realty
Listed by
Lisa Bowman
(617) 396-3100
Source
Longwoodresidential
Added: May 3 Updated: Jul 21 at 7:19AM Checked: Jul 22 at 6:46AM
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 two-family residential income property features a front entry with woodwork and built-in closets, with separate living arrangements on both levels. The first floor includes two bedrooms, a full bath, living room, dining room, and an eat-in kitchen. The second floor offers three bedrooms, a full bath, living room, dining room, and an additional eat-in kitchen.
The home includes off-street parking and a fenced-in yard, providing outdoor space while maintaining defined boundaries.
Offers are due Monday, May 18, 2026 at 5:00 PM.
The home includes off-street parking and a fenced-in yard, providing outdoor space while maintaining defined boundaries.
Offers are due Monday, May 18, 2026 at 5:00 PM.
Key Highlights
- 1913 2‑family home in New Bedford’s West End
- First floor features 2 bedrooms, full bath, living room, dining room, and eat‑in kitchen
- Second floor features 3 bedrooms, full bath, living room, dining room, and eat‑in kitchen
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.3k | $22.20 |
| − Vacancy | −$4.0k | −$1.67 |
| EGI | $49.3k | $20.54 |
| − OpEx | −$14.8k | −$6.16 |
| NOI | $34.5k | $14.37 |
2,402 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit home with off-street parking and a fenced yard in New Bedford’s West End.
Where is this duplex located?
The property is located at 407 Park Street 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: 1913 2‑family home in New Bedford’s West End; First floor features 2 bedrooms, full bath, living room, dining room, and eat‑in kitchen; Second floor features 3 bedrooms, full bath, living room, dining room, and eat‑in kitchen
