Four-Unit Apartment Building with Lead
For Sale
$699,900
Pending
50-52 Princeton St, New Bedford, MA 02745
Residential Income, New Bedford, MA
Property Size3,818 SF
Lot Size0.07 Acres
Days on Market53
Property Features for 50-52 Princeton St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 8, Bedroom 7, Bedroom 1, Bedroom 2, Bathroom 2
Directions
Ashley Blvd to Princeton St
Standard status
Pending
APN
2901365
Size
3,818 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6482
Building Details
Year built
1909
Number of units
4
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Jun 29
Changed: Aug 20
Last Checked: Aug 20 at 1:06PM
MLS# 73542975
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Four-unit apartment building zoned RB, built in 1909, offering a defined unit layout across four floors. The first and second floors each include a spacious three-bedroom, one-bath unit, and the third and fourth floors each feature a one-bedroom unit. All units are lead certified, and the appliances are owned by the landlord.
The property sits on a 0.0717-acre lot. Located near Brooklawn Park in New Bedford, it provides convenient access to parks, schools, shopping, major highways, the downtown waterfront, and the new South Coast Rail commuter service with direct access to Boston.
The configuration supports straightforward leasing and property management given the consistent apartment setup and lead-certified status throughout the building.
The property sits on a 0.0717-acre lot. Located near Brooklawn Park in New Bedford, it provides convenient access to parks, schools, shopping, major highways, the downtown waterfront, and the new South Coast Rail commuter service with direct access to Boston.
The configuration supports straightforward leasing and property management given the consistent apartment setup and lead-certified status throughout the building.
Key Highlights
- Lead‑certified four‑unit (first and second floors are three‑bedroom, one‑bath units)
- Third and fourth floors each include one‑bedroom units
- Appliances are owned by the landlord
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
$54,882
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
7.84%
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%
$1,097,640
$1.1M
Cap Rate 7%
$784,029
$784.0K
Cap Rate 9%
$609,800
$609.8K
Market Conditions
NOI Build-Up for 3,818 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
$84.8K $22.20/SF
− Vacancy
−$6.4K −$1.67/SF
EGI
$78.4K $20.54/SF
− OpEx
−$23.5K −$6.16/SF
NOI
$54.9K $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%
$1,097,640
Cap Rate 7%
$784,029
Cap Rate 9%
$609,800
Alternative Uses
Best Use
Multifamily LT 5
$784.0K
$686.0K – $914.7K
NOI $54,882 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$719.8K
$629.8K – $839.8K
NOI $50,385 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$1.13M
$985.1K – $1.31M
NOI $78,804 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 02745, MA
25,336
Population
10,649
Households
2.4
Avg Household Size
41
Median Age
20%
College-Educated
83%
High-School Grad
9.8 sq mi
ZIP Area
2,585
Density / Sq Mi
$73,154
Median Household Income
$46,978
Median Earnings
$1,104
Median Rent
$339,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit building zoned RB with lead-certified units, landlord-owned appliances, and a unit mix across four floors.
Where is this quadplex located?
The property is located at 50-52 Princeton St New Bedford, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Lead‑certified four‑unit (first and second floors are three‑bedroom, one‑bath units); Third and fourth floors each include one‑bedroom units; Appliances are owned by the landlord
