Renovated Duplex with Workshop
For Sale
$530,000
Pending
64 Katherine Street, New Bedford, MA 02744
Two-family residence with updated kitchens, remodeled baths, attic storage, and a finished third floor with heating and air conditioning.
Property Size3,679 SF
Days on Market223
Property Features for 64 Katherine Street
General Information
Standard status
Pending
Size
3,679 SF
Total Parking Spaces
3
Property subtype
Multi-family / 2 Family
Zoning
RC
Net Operating Income
$50,400
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,645
Amenities
No
Hardwood, Tile, Wood, Stone/Ceramic Tile
Range, Dishwasher, Refrigerator, ENERGY STAR Qualified Refrigerator, ENERGY STAR Qualified Dishwasher
2.0
Insulated Windows, Screens
Gas Dryer Hookup, Electric Dryer Hookup, Washer Hookup
Full, Bulkhead, Unfinished Basement
Stone/Granite/Solid Counters, Upgraded Cabinets, Upgraded Countertops, Bathroom With Tub & Shower, Open Floorplan, Remodeled, Floored Attic, Walk-Up Attic, Heated Attic, Storage, Living Room, Dining Room, Kitchen, Family Room, Window AC
2
2.00
City View(s), Yes
Fenced
Frame
Shingle
Cleared, Level
Shed(s)
Rain Gutters, Fenced Yard, Screens, Covered Patio/Deck
Covered
Building Details
Year Built
1902
Buildings
1
Construction
cottage-style
Listing Agency:
Century 21 Signature Properties
(508) 999-4541
Listed By:
Michael Russell · License #9526789
(508) 999-4541
Source:
Compass
Added: Jan 21
Changed: Aug 30
Last Checked: Aug 31 at 9:53PM
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 Century 21 Signature Properties
Investment Insights
Based on property information with market context.
Located at 64 Katherine Street in New Bedford, this 3,679-square-foot duplex dates to 1902 and contains two residential units with a combined seven bedrooms. The cottage-style property has undergone renovation, including newer kitchens, remodeled bathrooms, upgraded cabinetry and countertops, and a mix of hardwood and luxury vinyl plank flooring. Living, dining, kitchen, and family room areas are supported by updated interior finishes, while the third floor includes heating and air conditioning.
Additional features include an expansive unfinished basement with woodworking equipment and storage capacity, a floored walk-up attic, and a covered patio or deck. The property also offers a fenced yard, shed, rain gutters, screens, and a bulkhead. Zoning is RC, and the exterior is a frame structure with shingle siding on a cleared, level site.
Additional features include an expansive unfinished basement with woodworking equipment and storage capacity, a floored walk-up attic, and a covered patio or deck. The property also offers a fenced yard, shed, rain gutters, screens, and a bulkhead. Zoning is RC, and the exterior is a frame structure with shingle siding on a cleared, level site.
Key Highlights
- Two residential units with a combined total of 7 bedrooms
- 3,679 SF duplex built in 1902
- Renovated kitchens and bathrooms with upgraded cabinets and countertops
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
$48,551
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
9.16%
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%
$971,020
$971.0K
Cap Rate 7%
$693,586
$693.6K
Cap Rate 9%
$539,456
$539.5K
Market Conditions
NOI Build-Up for 3,679 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
$94.9K $25.80/SF
− Vacancy
−$6.6K −$1.81/SF
EGI
$88.3K $23.99/SF
− OpEx
−$39.7K −$10.80/SF
NOI
$48.6K $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%
$971,020
Cap Rate 7%
$693,586
Cap Rate 9%
$539,456
Alternative Uses
Best Use
Multifamily LT 5
$755.5K
$661.1K – $881.4K
NOI $52,884 @ 7.0% cap · market cap 9.98%
Second Best
Apartment 5plus
$693.6K
$606.9K – $809.2K
NOI $48,551 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$1.08M
$949.2K – $1.27M
NOI $75,935 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
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 - Two-family residence with updated kitchens, remodeled baths, attic storage, and a finished third floor with heating and air conditioning.
Where is this duplex located?
The property is located at 64 Katherine Street New Bedford, MA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two residential units with a combined total of 7 bedrooms; 3,679 SF duplex built in 1902; Renovated kitchens and bathrooms with upgraded cabinets and countertops
