9 Abbott St · New Bedford, MA 02744

$475,000

6 bd · 3.0 ba · 2,602 sqft · MultiFamily public records · 284 Days on market

Built 1896 3,202 sqft lot $183/sqft · 12% below area Est $500k · 5% under

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.4/30.0
• ARV discount +9.8/15.0
• Appreciation +8.3/10.0
• DSCR +7.2/10.0
• 1% rule +5.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Attention investors! This rare 3-unit multifamily offers significant upside potential in a desirable location near the Cove. Each unit features 2 bedrooms and 1 bathroom with separate gas and electric meters, giving tenants independence while simplifying ownership. Currently occupied by long-term tenants-at-will.The property is generating stable income with undermarket rents, allowing for immediate value-add through strategic rent adjustments.The building has deferred maintenance, which creates the perfect chance to Renovate, Rebrand, and Reposition for maximum returns. Situated on a quiet street with easy access to the Covewalk and hurricane barriers, this property also benefits from proximity to public transportation, restaurants, banks, and everyday conveniences—a highly attractive location for current and future renters.

Key facts

• Proximity to banks
• 3 unit multifamily
• 3,202 sq ft lot

Tags

• 3 UNIT MULTIFAMILY
• PROXIMITY TO RESTAURANTS
• PROXIMITY TO BANKS

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $790 ($9k/yr) — positive. Per door: $263/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $475k).
• Recommended offer: $418k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#155 in MA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+; Watch: cost of living C-, employment D, amenities F.
• New Bedford (suburban): math 17% / reading 28% proficiency, ranked #287 of 302 in MA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Irwin M. Jacobs Elementary School (math 8% / reading 22%, grade F, #854 of 938 statewide, top 93%, 403 students, 0% FRL); Roosevelt Middle School (math 11% / reading 20%, grade F, #273 of 305 statewide, top 89%, 778 students, 0% FRL); New Bedford High (math 13% / reading 25%, grade F, #313 of 343 statewide, top 92%, 2,898 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 24 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).

Forward outlook

• In year one you build about $35k of equity ($3k loan paydown + $32k appreciation (6.7% local appreciation)).
• Bristol County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $133k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 284 days — a 12% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $123k; list at $475k implies a 286% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $418,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 284 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 8.2

CMA / ARV

• ARV (median comp): $500,013
• List price: $475,000
• Delta: -5.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1743 E Rodney French Blvd	0.10mi	6/3.0	2,618 (+1%)	20mo	$510,000	$195	78
8 Mcgurk St	0.22mi	6/3.0	2,628 (+1%)	16mo	$540,000	$205	74
84 Frederick St	0.47mi	6/2.5	2,660 (+2%)	10mo	$630,000	$237	64
141 Butler St	0.58mi	6/2.0	2,582 (-1%)	7mo	$595,000	$230	62
11 Harmony St	0.29mi	6/3.0	2,404 (-8%)	23mo	$550,000	$229	55
119 Division St	0.55mi	6/3.0	2,828 (+9%)	11mo	$565,000	$200	51
150-152 Butler St	0.60mi	6/2.0	2,586 (-1%)	22mo	$496,000	$192	49
81 Willard St	0.52mi	6/2.0	2,356 (-10%)	12mo	$562,000	$239	46
36 Clara St	0.57mi	5/4.0 (-1)	2,592 (-0%)	22mo	$635,000	$245	46
22 Jouvette St	0.52mi	6/3.0	2,941 (+13%)	21mo	$450,000	$153	37
76 Acushnet Ave	0.66mi	6/3.0	2,322 (-11%)	23mo	$460,000	$198	32
158 Crapo St	0.69mi	6/4.0	2,314 (-11%)	24mo	$540,000	$233	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.6%
• Equity multiple: 2.55×
• Total profit: $206,105
• Equity at exit: $318,540

10-year hold

• IRR: 21.2%
• Equity multiple: 5.23×
• Total profit: $562,456
• Equity at exit: $595,699

Cash invested: $133,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 02744

• Home prices YoY: 1.6%
• Active inventory: 24
• Price-to-rent: 24.7×

Monthly cashflow live

• Estimated rent: $4,803 high
• Mortgage (P&I): −$2,491
• Tax from tax record: −$315 /mo · $3,785/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,009
• Net cashflow: $790

Break-even live

Break-even rent $3,803

Max offer price $475,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,059	-5% $925	+0% $790	+5% $656	+10% $521
Rent	-10% $411	-5% $600	+0% $790	+5% $980	+10% $1,170
Rate	-1.0pp $1,029	-0.5pp $911	base $790	+0.5pp $667	+1.0pp $542

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,803
Total (3 units)			$4,803

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-31
   days on market $475,000 Active 284 DOM
2. 2025-10-20
   price $475,000 842-char remark

   Show marketing remark (842 chars)

   Attention investors! This rare 3-unit multifamily offers significant upside potential in a desirable location near the Cove. Each unit features 2 bedrooms and 1 bathroom with separate gas and electric meters, giving tenants independence while simplifying ownership. Currently occupied by long-term tenants-at-will.The property is generating stable income with undermarket rents, allowing for immediate value-add through strategic rent adjustments.The building has deferred maintenance, which creates the perfect chance to Renovate, Rebrand, and Reposition for maximum returns. Situated on a quiet street with easy access to the Covewalk and hurricane barriers, this property also benefits from proximity to public transportation, restaurants, banks, and everyday conveniences—a highly attractive location for current and future renters.

3. 2025-08-20
   listed $499,000 New 842-char remark

   Show marketing remark (842 chars)

   Attention investors! This rare 3-unit multifamily offers significant upside potential in a desirable location near the Cove. Each unit features 2 bedrooms and 1 bathroom with separate gas and electric meters, giving tenants independence while simplifying ownership. Currently occupied by long-term tenants-at-will.The property is generating stable income with undermarket rents, allowing for immediate value-add through strategic rent adjustments.The building has deferred maintenance, which creates the perfect chance to Renovate, Rebrand, and Reposition for maximum returns. Situated on a quiet street with easy access to the Covewalk and hurricane barriers, this property also benefits from proximity to public transportation, restaurants, banks, and everyday conveniences—a highly attractive location for current and future renters.

4. 2019-03-29
   soldstatus $123,000 Sold 242-char remark

   Show marketing remark (242 chars)

   Excellent far South location, near beach, boat ramp and bike path. Water view from 3rd floor. Off street parking, nice fenced in yard. Updated electric. excellent for handy man who wants to build sweat equity , for owner occupied or investor.

5. 2019-03-05
   status Under Agreement 242-char remark

   Show marketing remark (242 chars)

   Excellent far South location, near beach, boat ramp and bike path. Water view from 3rd floor. Off street parking, nice fenced in yard. Updated electric. excellent for handy man who wants to build sweat equity , for owner occupied or investor.

6. 2019-03-05
   status Reactivated 242-char remark

   Show marketing remark (242 chars)

   Excellent far South location, near beach, boat ramp and bike path. Water view from 3rd floor. Off street parking, nice fenced in yard. Updated electric. excellent for handy man who wants to build sweat equity , for owner occupied or investor.

7. 2019-02-25
   historical 242-char remark

   Show marketing remark (242 chars)

   Excellent far South location, near beach, boat ramp and bike path. Water view from 3rd floor. Off street parking, nice fenced in yard. Updated electric. excellent for handy man who wants to build sweat equity , for owner occupied or investor.

8. 2019-01-25
   listed $149,900 New 242-char remark

   Show marketing remark (242 chars)

   Excellent far South location, near beach, boat ramp and bike path. Water view from 3rd floor. Off street parking, nice fenced in yard. Updated electric. excellent for handy man who wants to build sweat equity , for owner occupied or investor.

9. 1987-08-07
   soldstatus $95,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $3,785 · $315/mo
• Projected year-2 tax: $4,814 · $401/mo
• Expected delta: +$1,029/yr (+$86/mo · 27.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,636
• − Mortgage interest: −$26,607
• − Property taxes: −$3,785
• − Insurance: −$2,375
• − Repairs & maintenance: −$4,611
• − Management: −$4,611
• − Depreciation: −$13,818
• Taxable income: $1,829
• Est. tax owed @ 24.0%: −$439
• After-tax cash flow: $9,042/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: New Bedford
• NCES district ID: 2508430
• Math proficiency: 17% ▼ -14.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $37,901
• Composite: 18.79/100
• National rank: #8869
• State rank: #287 of 302 in MA

Livability — New Bedford

• Score: 67/100
• State rank: #155
• US rank: #10150

Category grades

Amenities F Commute F Cost of living C- Crime C Employment D Housing B+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Bedford, MA
• County: Bristol County · 342,083 people
• City population: 76,528
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 12,716
• Household income: $58,675
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 811.0

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 570,212 people
• By 2030: 571,181 · +0.2%
• By 2040: 565,389 · -0.8%
• By 2050: 552,141 · -3.2%
• By 2075: 520,923 · -8.6%
• By 2100: 474,363 · -16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 27% Two or more races 20% Black 4%
• Hispanic origin (detail): Puerto Rican 17% Dominican 2%
• Common ancestry: Russian 34% Lithuanian 5% Romanian 3%
• Foreign-born: 24% · Canada
• Languages at home: 57% English-only · Other Indo-European 22% Spanish 17% French/Haitian/Cajun 3%

Political lean MEDSL · Bristol

• 2024 margin: Toss-up / Even · D 49.8% · R 48.5% · Other 1.8%
• 2008→2024 swing: -21.9pp toward R · 2008: 23.2pp · 2024: 1.3pp
• All cycles: 2024: D+1.3 2020: D+12.0 2016: D+9.3 2012: D+20.5 2008: D+23.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.66%
• Current HPI: 417.5735
• Rent YoY: —
• Metro: Providence-Warwick, RI-MA
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

+400.0% since first listed

8 events — show timeline

• 2025-10-20 Price Changed $475,000 MLS PIN
• 2025-08-20 Listed $499,000 MLS PIN
• 2019-03-29 Sold (MLS) $123,000 MLS PIN
• 2019-03-05 Pending — MLS PIN
• 2019-03-05 Relisted — MLS PIN
• 2019-02-25 Listing Removed — MLS PIN
• 2019-01-25 Listed $149,900 MLS PIN
• 1987-08-07 Sold (Public Records) $95,000 Public Records

Property tax history

+3.0%/yr

Latest (2023): $3,785 · +12.4% YoY. Source: county tax records.