Duplex with Attic
New
For Sale
$485,000
525 Cottage Street, New Bedford, MA 02740
Two leased apartments are complemented by an attic area with additional rooms, a kitchen, and a bathroom.
Property Size3,124 SF
Price / SF$155.25
Days on Market7
Property Features for 525 Cottage Street
General Information
Standard status
Active
Size
3,124 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1895
Listing Agency:
SBA Realty Group
Listed By:
Muhammad Mushtaq
(508) 443-3443
Source:
Milburyre
Added: Sep 20
Changed: Sep 24
Last Checked: Sep 24 at 9:24AM
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 SBA Realty Group
Investment Insights
Based on property information with market context.
This duplex contains two leased apartments, each configured with three bedrooms and living, family, and dining rooms, plus a pantry kitchen. The attic adds three rooms, a kitchen, a bathroom, and living area. The property encompasses 3,124 square feet and was built in 1895.
Located at 525 Cottage St in New Bedford, Massachusetts, the property is zoned RB.
Located at 525 Cottage St in New Bedford, Massachusetts, the property is zoned RB.
Key Highlights
- Two leased apartments, each with three bedrooms
- Attic includes 3 rooms, a kitchen, bathroom, and living area
- 3,124 square feet
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
$41,226
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
8.50%
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%
$824,520
$824.5K
Cap Rate 7%
$588,943
$588.9K
Cap Rate 9%
$458,067
$458.1K
Market Conditions
NOI Build-Up for 3,124 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
$80.6K $25.80/SF
− Vacancy
−$5.6K −$1.81/SF
EGI
$75.0K $23.99/SF
− OpEx
−$33.7K −$10.80/SF
NOI
$41.2K $13.20/SF
Area
New Bedford, MA
Vacancy
7.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
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%
$824,520
Cap Rate 7%
$588,943
Cap Rate 9%
$458,067
Alternative Uses
Best Use
Multifamily LT 5
$641.5K
$561.3K – $748.4K
NOI $44,906 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$588.9K
$515.3K – $687.1K
NOI $41,226 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$921.1K
$806.0K – $1.07M
NOI $64,479 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
938
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 leased apartments are complemented by an attic area with additional rooms, a kitchen, and a bathroom.
Where is this duplex located?
The property is located at 525 Cottage Street New Bedford, MA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Two leased apartments, each with three bedrooms; Attic includes 3 rooms, a kitchen, bathroom, and living area; 3,124 square feet
