Vacant Duplex with
New
For Sale
$639,000
96-98 Clara St, New Bedford, MA 02744
Two-family property with separate living spaces, hardwood flooring, laundry hookups, and off-street parking.
Property Size2,192 SF
Price / SF$291.51
Days on Market6
Property Features for 96-98 Clara St
General Information
Standard status
Active
Size
2,192 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
washer/dryer hookups
hardwood floors
large backyard
Building Details
Building Size
2,192 SF
Year Built
1912
Buildings
1
Listing Agency:
Gibson Sotheby's International Realty
(508) 801-4760
Listed By:
Catherine Hearn · License #452508574
(508) 801-4760
Source:
Iverty
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 6:02AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 2,192-square-foot duplex, built in 1912, contains two residential units with a combined six bedrooms and two full bathrooms. The property is vacant and features modern finishes, hardwood flooring throughout, and washer/dryer hookups in each unit. A large backyard and oversized driveway provide additional outdoor and parking space.
Located at 96-98 Clara St in New Bedford, the property sits near Cisco Brewers and the beach, with highway access nearby. Restaurants, parks, and downtown amenities are also within minutes. The two-family layout supports separate household use while retaining the physical features suited to an owner-occupant or rental property.
Located at 96-98 Clara St in New Bedford, the property sits near Cisco Brewers and the beach, with highway access nearby. Restaurants, parks, and downtown amenities are also within minutes. The two-family layout supports separate household use while retaining the physical features suited to an owner-occupant or rental property.
Key Highlights
- 2,192‑square‑foot duplex with two residential units
- Six bedrooms and two full bathrooms across the property
- Vacant property with modern finishes and hardwood flooring 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
$31,509
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
4.93%
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%
$630,180
$630.2K
Cap Rate 7%
$450,129
$450.1K
Cap Rate 9%
$350,100
$350.1K
Market Conditions
NOI Build-Up for 2,192 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
$48.7K $22.20/SF
− Vacancy
−$3.6K −$1.67/SF
EGI
$45.0K $20.54/SF
− OpEx
−$13.5K −$6.16/SF
NOI
$31.5K $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%
$630,180
Cap Rate 7%
$450,129
Cap Rate 9%
$350,100
Alternative Uses
Best Use
Multifamily LT 5
$450.1K
$393.9K – $525.2K
NOI $31,509 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$413.2K
$361.6K – $482.1K
NOI $28,927 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$646.3K
$565.5K – $754.1K
NOI $45,243 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
390
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 property with separate living spaces, hardwood flooring, laundry hookups, and off-street parking.
Where is this duplex located?
The property is located at 96-98 Clara St New Bedford, MA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: 2,192‑square‑foot duplex with two residential units; Six bedrooms and two full bathrooms across the property; Vacant property with modern finishes and hardwood flooring throughout
