Vacant Two-Family
For Sale
$559,900
Pending
50-52 Ocean St, New Bedford, MA 02740
Two units are delivered vacant with hardwood floors, off-street parking, a large yard, and an accessible walk-up attic.
Property Size2,780 SF
Days on Market89
Property Features for 50-52 Ocean St
General Information
Standard status
Pending
Size
2,780 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
hardwood floors
off-street parking
large yard
Building Details
Year Built
1913
Listing Agency:
Almeida Premier Realty
Listed By:
Jacob Almeida
(508) 509-0243
Source:
Rhodeislandhomesforsale
Added: Jul 9
Changed: Oct 1
Last Checked: Oct 4 at 10:40AM
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 Almeida Premier Realty
Investment Insights
Based on property information with market context.
This two-family duplex includes two vacant units, hardwood flooring throughout, off-street parking, and a large yard. The walk-up attic has two interior means of egress and provides additional space that may support future expansion concepts described for the property, including added living area or a possible third unit.
Located at 50-52 Ocean St in New Bedford, the property was built in 1913. The surrounding area records a Walk Score of 83, a Bike Score of 53, and a Transit Score of 32.
Located at 50-52 Ocean St in New Bedford, the property was built in 1913. The surrounding area records a Walk Score of 83, a Bike Score of 53, and a Transit Score of 32.
Key Highlights
- Two‑family duplex with both units delivered vacant
- Hardwood floors throughout the property
- Walk‑up attic includes two interior means of egress
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,961
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$799,220
$799.2K
Cap Rate 7%
$570,871
$570.9K
Cap Rate 9%
$444,011
$444.0K
Market Conditions
NOI Build-Up for 2,780 SF
Gross rent
$61.7K $22.20/SF
− Vacancy
−$4.6K −$1.67/SF
EGI
$57.1K $20.54/SF
− OpEx
−$17.1K −$6.16/SF
NOI
$40.0K $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%
$799,220
Cap Rate 7%
$570,871
Cap Rate 9%
$444,011
Alternative Uses
Best Use
Multifamily LT 5
$570.9K
$499.5K – $666.0K
NOI $39,961 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$524.1K
$458.6K – $611.5K
NOI $36,687 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$819.7K
$717.2K – $956.3K
NOI $57,379 @ 7.0% cap · market cap 10.25%
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
1,896
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 units are delivered vacant with hardwood floors, off-street parking, a large yard, and an accessible walk-up attic.
Where is this duplex located?
The property is located at 50-52 Ocean St New Bedford, MA.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: Two‑family duplex with both units delivered vacant; Hardwood floors throughout the property; Walk‑up attic includes two interior means of egress
