FHA-Approved Duplex with Fenced
For Sale
$419,900
Pending
497 S Second, New Bedford, MA 02744
Two-family property with off-street parking and MUB zoning.
Property Size1,302 SF
Days on Market11
Property Features for 497 S Second
General Information
Standard status
Pending
Size
1,302 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
MUB
Taxes and HOA fees
Annual Taxes
$3,763
Building Details
Building Size
1,302 SF
Year Built
1887
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
RE/MAX Vantage
(508) 889-9824
Listed By:
Tania Desousa
(508) 889-9824
Source:
Liongatere
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 2 at 2:10AM
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
Investment Insights
Based on property information with market context.
Built in 1887, this FHA-approved duplex is configured as a two-family property with off-street parking and a fenced yard. The property is located at 497 S. Second in New Bedford, Massachusetts, and carries MUB zoning.
Its setting provides proximity to downtown, a train station, and local beaches, combining residential use with access to nearby community destinations.
Its setting provides proximity to downtown, a train station, and local beaches, combining residential use with access to nearby community destinations.
Key Highlights
- FHA‑approved duplex
- Two‑family configuration
- Off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,716
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$374,320
$374.3K
Cap Rate 7%
$267,371
$267.4K
Cap Rate 9%
$207,956
$208.0K
Market Conditions
NOI Build-Up for 1,302 SF
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.
Gross rent
$28.9K $22.20/SF
− Vacancy
−$2.2K −$1.67/SF
EGI
$26.7K $20.54/SF
− OpEx
−$8.0K −$6.16/SF
NOI
$18.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$374,320
Cap Rate 7%
$267,371
Cap Rate 9%
$207,956
Alternative Uses
Best Use
Multifamily LT 5
$267.4K
$234.0K – $311.9K
NOI $18,716 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$245.5K
$214.8K – $286.4K
NOI $17,182 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$383.9K
$335.9K – $447.9K
NOI $26,873 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Explore this area
Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with off-street parking and MUB zoning.
Where is this duplex located?
The property is located at 497 S Second New Bedford, MA.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: FHA‑approved duplex; Two‑family configuration; Off‑street parking
