Duplex With Fenced Yard
For Sale
$549,900
Pending
62 Topham Street, New Bedford, MA 02746
Well-kept duplex on a corner lot with a huge fenced yard and 4-car parking, plus a second-floor 1-bedroom apartment.
Property Size2,275 SF
Days on Market124
Property Features for 62 Topham Street
General Information
Standard status
Pending
Size
2,275 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Zoning
RB
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$5,635
Building Details
Building Size
2,275 SF
Year Built
1930
Stories
3
Units
2
Listing Agency:
Lamacchia Realty, Inc.
(508) 677-3629
Listed By:
Michelle Saltmarsh · License #9517530
(774) 929-0442
Source:
Alliancepartnersre
Added: May 8
Changed: Aug 23
Last Checked: Aug 5 at 11:43AM
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 Lamacchia Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex is exceptionally well-kept and presented in clean, bright condition. The main floor includes an eat-in kitchen with tile flooring, a dining room, and a large living room, along with three spacious bedrooms featuring hardwood floors. A partially finished basement adds flexible space, including home gym potential. The second floor contains an additional 1-bedroom apartment that can help provide income.
Set on a massive corner lot, the property includes a huge fenced yard and room for 4-car parking. The home has been owned for more than 40 years and is currently in probate.
Overall, the layout combines owner-occupied living space with a separate 1-bedroom unit above, supported by practical outdoor and parking features.
Set on a massive corner lot, the property includes a huge fenced yard and room for 4-car parking. The home has been owned for more than 40 years and is currently in probate.
Overall, the layout combines owner-occupied living space with a separate 1-bedroom unit above, supported by practical outdoor and parking features.
Key Highlights
- 1930 frame home on a corner lot with a huge fenced yard, rain gutters, and a porch
- Main level features: eat‑in kitchen with tile flooring, dining room, and a large living room
- Hardwood flooring on the first‑floor bedrooms (3 rooms) plus tile, vinyl, carpet, and stone/ceramic tile throughout
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
$32,702
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
5.95%
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%
$654,040
$654.0K
Cap Rate 7%
$467,171
$467.2K
Cap Rate 9%
$363,356
$363.4K
Market Conditions
NOI Build-Up for 2,275 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
$50.5K $22.20/SF
− Vacancy
−$3.8K −$1.67/SF
EGI
$46.7K $20.54/SF
− OpEx
−$14.0K −$6.16/SF
NOI
$32.7K $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%
$654,040
Cap Rate 7%
$467,171
Cap Rate 9%
$363,356
Alternative Uses
Best Use
Multifamily LT 5
$467.2K
$408.8K – $545.0K
NOI $32,702 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$428.9K
$375.3K – $500.4K
NOI $30,022 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$670.8K
$587.0K – $782.6K
NOI $46,956 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 02746, MA
17,355
Population
7,640
Households
2.3
Avg Household Size
33
Median Age
10%
College-Educated
67%
High-School Grad
2.8 sq mi
ZIP Area
6,198
Density / Sq Mi
$41,023
Median Household Income
$33,472
Median Earnings
$1,100
Median Rent
$324,400
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?
Duplex - Well-kept duplex on a corner lot with a huge fenced yard and 4-car parking, plus a second-floor 1-bedroom apartment.
Where is this duplex located?
The property is located at 62 Topham Street New Bedford, MA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 1930 frame home on a corner lot with a huge fenced yard, rain gutters, and a porch; Main level features: eat‑in kitchen with tile flooring, dining room, and a large living room; Hardwood flooring on the first‑floor bedrooms (3 rooms) plus tile, vinyl, carpet, and stone/ceramic tile throughout
