Three-Story Multi-Family
56 State Street New Bedford, MA 02740
For Sale
$649,800
Impeccably remodeled duplex-style home with a 3rd-floor cottage setup and in-unit full-size washers and dryers.
Property Size3,174 SF
Price / SF$204.73
Days on Market99
Property Features for 56 State Street
General Information
- Standard status
- Active
- Size
- 3,174 SF
- Property subtype
- Multi-family / 2 Family
Building Details
- Year Built
- 1870
Listing Agency:
LPT Realty - Home & Key Group
(877) 366-2213
Listed By:
Mia Holland · License #9553896
(877) 366-2213
Source:
Compass
Added: Apr 18
Changed: Jul 20
Last Checked: Jul 23 at 10:42AM
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 LPT Realty - Home & Key Group
Investment Insights
Based on property information with market context.
This three-story multi-family residence has been fully remodeled with attention to detail and includes hardwood floors and high ceilings. The 1st floor features three bedrooms and one full bathroom. The 2nd and 3rd floors together provide five bedrooms, a bonus room, a den, and two full bathrooms. Kitchens include stainless steel appliances, and each unit has its own in-unit full-size washer and dryer.
The home is fully de-leaded and certified, and the common areas are maintained. Additional storage is available in the basement, with decorative woodwork and stained glass window accents throughout.
A 3rd-floor cottage-style configuration is built into the overall layout, creating distinct living spaces across the upper levels.
The home is fully de-leaded and certified, and the common areas are maintained. Additional storage is available in the basement, with decorative woodwork and stained glass window accents throughout.
A 3rd-floor cottage-style configuration is built into the overall layout, creating distinct living spaces across the upper levels.
Key Highlights
- 2‑family home with a 3rd‑floor cottage setup, fully de‑leaded and certified
- Remodeled interiors with hardwood and tile flooring and high ceilings
- Multiple living spaces including living room, dining room, kitchen, family room, and office/den
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.5k | $22.20 |
| − Vacancy | −$5.3k | −$1.67 |
| EGI | $65.2k | $20.54 |
| − OpEx | −$19.6k | −$6.16 |
| NOI | $45.6k | $14.37 |
3,174 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$651.8K
$570.3K – $760.4K
NOI $45,625 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$598.4K
$523.6K – $698.1K
NOI $41,886 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$935.9K
$818.9K – $1.09M
NOI $65,511 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Impeccably remodeled duplex-style home with a 3rd-floor cottage setup and in-unit full-size washers and dryers.
Where is this duplex located?
The property is located at 56 State Street New Bedford, MA.
What is the asking price?
The asking price for this property is $649,800.
What are key features of this property?
This property features: 2‑family home with a 3rd‑floor cottage setup, fully de‑leaded and certified; Remodeled interiors with hardwood and tile flooring and high ceilings; Multiple living spaces including living room, dining room, kitchen, family room, and office/den
