Two-Family
New
For Sale
$425,000
431 Rivet St, New Bedford, MA 02740
The two-unit residence contains four bedrooms and two full bathrooms, with the upper unit vacant.
Property Size2,059 SF
Price / SF$206.41
Days on Market4
Property Features for 431 Rivet St
General Information
Standard status
Active
Size
2,059 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,350
Building Details
Building Size
2,059 SF
Year Built
1888
Buildings
1
Listing Agency:
Freedom Realty Group LLC
Listed By:
Gary Gagne Jr. · License #9588828
(508) 292-6954
Source:
Paulgrover
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 1 at 5:57AM
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 Freedom Realty Group LLC
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Investment Insights
Based on property information with market context.
This duplex at 431 Rivet St in New Bedford contains 2,059 square feet, with a total of four bedrooms and two full bathrooms. Built in 1888, the property is arranged as two residential units. The second-floor unit is vacant, and the first-floor unit may also be delivered vacant.
The property is minutes from major highways, local beaches, Harbor Walk, Dairy Maid, and The Cove.
The property is minutes from major highways, local beaches, Harbor Walk, Dairy Maid, and The Cove.
Key Highlights
- 2,059 square feet of living area
- Four bedrooms and two full bathrooms across two units
- Second‑floor unit is vacant; first‑floor unit may be delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,597
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$591,940
$591.9K
Cap Rate 7%
$422,814
$422.8K
Cap Rate 9%
$328,856
$328.9K
Market Conditions
NOI Build-Up for 2,059 SF
Gross rent
$45.7K $22.20/SF
− Vacancy
−$3.4K −$1.67/SF
EGI
$42.3K $20.54/SF
− OpEx
−$12.7K −$6.16/SF
NOI
$29.6K $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%
$591,940
Cap Rate 7%
$422,814
Cap Rate 9%
$328,856
Alternative Uses
Best Use
Multifamily LT 5
$422.8K
$370.0K – $493.3K
NOI $29,597 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$388.2K
$339.7K – $452.9K
NOI $27,172 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$607.1K
$531.2K – $708.3K
NOI $42,498 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,373
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit residence contains four bedrooms and two full bathrooms, with the upper unit vacant.
Where is this duplex located?
The property is located at 431 Rivet St New Bedford, MA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,059 square feet of living area; Four bedrooms and two full bathrooms across two units; Second‑floor unit is vacant; first‑floor unit may be delivered vacant
