32 Franklin St · New Bedford, MA 02740

$519,900

6 bd · 3.0 ba · 1,947 sqft · MultiFamily public records · 106 Days on market

Built 1912 2,801 sqft lot $267/sqft · 55% above area Est $506k · at est.

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +6.3/15.0
• 1% rule +6.2/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

**NEWLY OFFERED, LONG TERM OWNERSHIP** Welcome to New Bedford! Nearly 3000 S.F. 3 Family Home in the Heart of New Bedford WITH 4 BATHROOMS! 3 UNITS WITH WALKUP ATTIC, MAKE 4 UNITS OR TOP UNIT A TOWNHOUSE? YOU DECIDE! Fantastic Investment Property Offering a Finished Basement and Private Green Backyard! Absolute Prime Location - Just Minutes to Shopping, Dining, Convenience Stores, St Luke’s Hospital, Highway Access & More! Completely Vinyl Sided Maintenance Free Exterior Offering 3 Levels w/ (2x) 3 Bedroom Apartments and (1x) 2 Bedroom Apartment, All Fully Applianced, Featuring Hardwood Floors, Tile Bathrooms, Good Sized Sun-Filled Bedrooms, Convenient Floor Plans, & More - Do not MISS YOUR CHANCE for one of the BEST PRICED, MOST AFFORDABLE 3 FAMILIES IN NB RIGHT NOW!

Key facts

• Vinyl sided exterior
• Walkup attic
• Finished basement

Tags

• WALKUP ATTIC
• FINISHED BASEMENT
• PRIVATE GREEN BACKYARD
• VINYL SIDED EXTERIOR
• 3 LEVELS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $520k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $464/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $520k).
• Recommended offer: $473k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.8% in New Bedford — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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-, schools D, employment D.
• 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.
• Market conditions: Rents rising fast (+10.8%/yr); 60 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).
• At $5,847/mo this rent would consume 127% of the median local household income ($55k/yr) (locally 2883% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Bristol County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $146k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($473k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $30k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $520k implies a 247% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $473,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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 1912 — 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: 1.12% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.47%
• DSCR: 1.51
• GRM: 7.4

CMA / ARV

• ARV (median comp): $505,984
• List price: $519,900
• Delta: 2.75%
• 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
117 Austin St	0.24mi	5/3.0 (-1)	1,954 (+0%)	6mo	$450,000	$230	78
213 Summer St	0.20mi	6/2.0	1,846 (-5%)	4mo	$565,000	$306	74
1272 Pleasant St	0.15mi	6/3.0	1,842 (-5%)	15mo	$509,000	$276	72
19 Shawmut Ave	0.47mi	6/2.0	1,934 (-1%)	7mo	$545,000	$282	67
18 20 Franklin St	0.05mi	6/2.0	2,214 (+14%)	6mo	$482,000	$218	65
194 Maxfield St	0.41mi	6/2.0	1,812 (-7%)	8mo	$375,000	$207	59
1441 Pleasant St	0.36mi	6/3.0	2,212 (+14%)	3mo	$559,000	$253	58
20 Shawmut Ave	0.45mi	5/2.0 (-1)	2,067 (+6%)	6mo	$625,000	$302	55
52 Shawmut Ave	0.41mi	5/2.0 (-1)	1,818 (-7%)	8mo	$560,000	$308	54
34 Washburn St	0.60mi	6/3.0	2,124 (+9%)	3mo	$550,000	$259	54
136 Campbell St	0.37mi	5/2.0 (-1)	2,152 (+10%)	7mo	$565,000	$263	50
220 North St	0.70mi	7/2.0 (+1)	1,828 (-6%)	11mo	$494,000	$270	39

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 5.9%
• Equity multiple: 1.24×
• Total profit: $35,128
• Equity at exit: $77,519

10-year hold

• IRR: 19.1%
• Equity multiple: 2.96×
• Total profit: $284,774
• Equity at exit: $44,951

Cash invested: $145,572 (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 02740

• Rents YoY: 10.8%
• Active inventory: 60
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $5,847 high
• Mortgage (P&I): −$2,726
• Tax from tax record: −$285 /mo · $3,418/yr
• Insurance: −$217
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,228
• Net cashflow: $1,391

Break-even live

Break-even rent $4,086

Max offer price $519,900

Occupancy floor 71%

Sensitivity live

Price	-10% $1,686	-5% $1,538	+0% $1,391	+5% $1,244	+10% $1,097
Rent	-10% $929	-5% $1,160	+0% $1,391	+5% $1,622	+10% $1,853
Rate	-1.0pp $1,653	-0.5pp $1,523	base $1,391	+0.5pp $1,257	+1.0pp $1,119

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$5,847
Total (3 units)			$5,847

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: $129,975
• Closing costs: $15,597
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $519,900 Active 106 DOM
2. 2026-06-17
   days on market $519,900 Active 105 DOM
3. 2026-06-16
   days on market $519,900 Active 104 DOM
4. 2026-06-15
   days on market $519,900 Active 103 DOM
5. 2026-06-13
   days on market $519,900 Active 101 DOM
6. 2026-06-09
   days on market $519,900 Active 97 DOM
7. 2026-06-08
   days on market $519,900 Active 96 DOM
8. 2026-06-07
   days on market $519,900 Active 95 DOM
9. 2026-06-05
   days on market $519,900 Active 92 DOM
10. 2026-06-03
    days on market $519,900 Active 91 DOM
11. 2026-06-02
    days on market $519,900 Active 90 DOM
12. 2026-06-01
    days on market $519,900 Active 89 DOM
13. 2026-05-31
    days on market $519,900 Active 88 DOM
14. 2026-05-19
    price $519,900 792-char remark

    Show marketing remark (792 chars)

    **NEWLY OFFERED, LONG TERM OWNERSHIP** Welcome to New Bedford! Nearly 3000 S.F. 3 Family Home in the Heart of New Bedford WITH 4 BATHROOMS! 3 UNITS WITH WALKUP ATTIC, MAKE 4 UNITS OR TOP UNIT A TOWNHOUSE? YOU DECIDE! Fantastic Investment Property Offering a Finished Basement and Private Green Backyard! Absolute Prime Location - Just Minutes to Shopping, Dining, Convenience Stores, St Luke’s Hospital, Highway Access & More! Completely Vinyl Sided Maintenance Free Exterior Offering 3 Levels w/ (2x) 3 Bedroom Apartments and (1x) 2 Bedroom Apartment, All Fully Applianced, Featuring Hardwood Floors, Tile Bathrooms, Good Sized Sun-Filled Bedrooms, Convenient Floor Plans, & More - Do not MISS YOUR CHANCE for one of the BEST PRICED, MOST AFFORDABLE 3 FAMILIES IN NB RIGHT NOW!

15. 2026-04-20
    status Price Changed 792-char remark

    Show marketing remark (792 chars)

    **NEWLY OFFERED, LONG TERM OWNERSHIP** Welcome to New Bedford! Nearly 3000 S.F. 3 Family Home in the Heart of New Bedford WITH 4 BATHROOMS! 3 UNITS WITH WALKUP ATTIC, MAKE 4 UNITS OR TOP UNIT A TOWNHOUSE? YOU DECIDE! Fantastic Investment Property Offering a Finished Basement and Private Green Backyard! Absolute Prime Location - Just Minutes to Shopping, Dining, Convenience Stores, St Luke’s Hospital, Highway Access & More! Completely Vinyl Sided Maintenance Free Exterior Offering 3 Levels w/ (2x) 3 Bedroom Apartments and (1x) 2 Bedroom Apartment, All Fully Applianced, Featuring Hardwood Floors, Tile Bathrooms, Good Sized Sun-Filled Bedrooms, Convenient Floor Plans, & More - Do not MISS YOUR CHANCE for one of the BEST PRICED, MOST AFFORDABLE 3 FAMILIES IN NB RIGHT NOW!

16. 2026-04-20
    price $529,900 792-char remark

    Show marketing remark (792 chars)

    **NEWLY OFFERED, LONG TERM OWNERSHIP** Welcome to New Bedford! Nearly 3000 S.F. 3 Family Home in the Heart of New Bedford WITH 4 BATHROOMS! 3 UNITS WITH WALKUP ATTIC, MAKE 4 UNITS OR TOP UNIT A TOWNHOUSE? YOU DECIDE! Fantastic Investment Property Offering a Finished Basement and Private Green Backyard! Absolute Prime Location - Just Minutes to Shopping, Dining, Convenience Stores, St Luke’s Hospital, Highway Access & More! Completely Vinyl Sided Maintenance Free Exterior Offering 3 Levels w/ (2x) 3 Bedroom Apartments and (1x) 2 Bedroom Apartment, All Fully Applianced, Featuring Hardwood Floors, Tile Bathrooms, Good Sized Sun-Filled Bedrooms, Convenient Floor Plans, & More - Do not MISS YOUR CHANCE for one of the BEST PRICED, MOST AFFORDABLE 3 FAMILIES IN NB RIGHT NOW!

17. 2026-03-23
    status Under Agreement 792-char remark

    Show marketing remark (792 chars)

    **NEWLY OFFERED, LONG TERM OWNERSHIP** Welcome to New Bedford! Nearly 3000 S.F. 3 Family Home in the Heart of New Bedford WITH 4 BATHROOMS! 3 UNITS WITH WALKUP ATTIC, MAKE 4 UNITS OR TOP UNIT A TOWNHOUSE? YOU DECIDE! Fantastic Investment Property Offering a Finished Basement and Private Green Backyard! Absolute Prime Location - Just Minutes to Shopping, Dining, Convenience Stores, St Luke’s Hospital, Highway Access & More! Completely Vinyl Sided Maintenance Free Exterior Offering 3 Levels w/ (2x) 3 Bedroom Apartments and (1x) 2 Bedroom Apartment, All Fully Applianced, Featuring Hardwood Floors, Tile Bathrooms, Good Sized Sun-Filled Bedrooms, Convenient Floor Plans, & More - Do not MISS YOUR CHANCE for one of the BEST PRICED, MOST AFFORDABLE 3 FAMILIES IN NB RIGHT NOW!

18. 2026-02-04
    listed $549,900 New 792-char remark

    Show marketing remark (792 chars)

    **NEWLY OFFERED, LONG TERM OWNERSHIP** Welcome to New Bedford! Nearly 3000 S.F. 3 Family Home in the Heart of New Bedford WITH 4 BATHROOMS! 3 UNITS WITH WALKUP ATTIC, MAKE 4 UNITS OR TOP UNIT A TOWNHOUSE? YOU DECIDE! Fantastic Investment Property Offering a Finished Basement and Private Green Backyard! Absolute Prime Location - Just Minutes to Shopping, Dining, Convenience Stores, St Luke’s Hospital, Highway Access & More! Completely Vinyl Sided Maintenance Free Exterior Offering 3 Levels w/ (2x) 3 Bedroom Apartments and (1x) 2 Bedroom Apartment, All Fully Applianced, Featuring Hardwood Floors, Tile Bathrooms, Good Sized Sun-Filled Bedrooms, Convenient Floor Plans, & More - Do not MISS YOUR CHANCE for one of the BEST PRICED, MOST AFFORDABLE 3 FAMILIES IN NB RIGHT NOW!

19. 2004-02-25
    soldstatus $150,000 240-char remark

    Show marketing remark (240 chars)

    GREAT 2 FAM. -2 BDRMS EA. APT. WALK-OUT BASEMENT, POSSIBLE COTTAGE SET-UP FOR 2ND FLOOR APT. REPLACEMENT WINDOWS ON 1ST PAINTED CEDAR EXT. SHINGLES, GAS HEAT, NEWER HOT WATER TANK, WHOLE HOUSE ON CIRCUIT BREAKERS. PRICED TO SELL!! CALL NOW!

20. 2004-02-25
    soldstatus $150,000

    Show marketing remark (240 chars)

    GREAT 2 FAM. -2 BDRMS EA. APT. WALK-OUT BASEMENT, POSSIBLE COTTAGE SET-UP FOR 2ND FLOOR APT. REPLACEMENT WINDOWS ON 1ST PAINTED CEDAR EXT. SHINGLES, GAS HEAT, NEWER HOT WATER TANK, WHOLE HOUSE ON CIRCUIT BREAKERS. PRICED TO SELL!! CALL NOW!

21. 2004-01-12
    historical 240-char remark

    Show marketing remark (240 chars)

    GREAT 2 FAM. -2 BDRMS EA. APT. WALK-OUT BASEMENT, POSSIBLE COTTAGE SET-UP FOR 2ND FLOOR APT. REPLACEMENT WINDOWS ON 1ST PAINTED CEDAR EXT. SHINGLES, GAS HEAT, NEWER HOT WATER TANK, WHOLE HOUSE ON CIRCUIT BREAKERS. PRICED TO SELL!! CALL NOW!

22. 2003-11-21
    listed $179,900 240-char remark

    Show marketing remark (240 chars)

    GREAT 2 FAM. -2 BDRMS EA. APT. WALK-OUT BASEMENT, POSSIBLE COTTAGE SET-UP FOR 2ND FLOOR APT. REPLACEMENT WINDOWS ON 1ST PAINTED CEDAR EXT. SHINGLES, GAS HEAT, NEWER HOT WATER TANK, WHOLE HOUSE ON CIRCUIT BREAKERS. PRICED TO SELL!! CALL NOW!

ⓘ 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: $3,418 · $285/mo
• Projected year-2 tax: $4,906 · $409/mo
• Expected delta: +$1,488/yr (+$124/mo · 43.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 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: $70,164
• − Mortgage interest: −$29,122
• − Property taxes: −$3,418
• − Insurance: −$2,600
• − Repairs & maintenance: −$5,613
• − Management: −$5,613
• − Depreciation: −$15,124
• Taxable income: $8,673
• Est. tax owed @ 24.0%: −$2,082
• After-tax cash flow: $14,613/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): 46,281
• Household income: $55,237
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 2883.0

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 0.67)
• Race & ethnicity: White 52% Hispanic / Latino 23% Two or more races 17% Black 8% Asian 2% Native American 1%
• Hispanic origin (detail): Puerto Rican 14% Dominican 2%
• Common ancestry: Russian 27% Lithuanian 5% Romanian 2%
• Foreign-born: 19% · Canada, China
• Languages at home: 65% English-only · Other Indo-European 15% Spanish 15% 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: ▼ -270.36%
• Current HPI: 388.4115
• Rent YoY: ▲ 10.79%
• 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

+189.0% since first listed

9 events — show timeline

• 2026-05-19 Price Changed $519,900 MLS PIN
• 2026-04-20 Relisted — MLS PIN
• 2026-04-20 Price Changed $529,900 MLS PIN
• 2026-03-23 Pending — MLS PIN
• 2026-02-04 Listed $549,900 MLS PIN
• 2004-02-25 Sold (Public Records) $150,000 Public Records
• 2004-02-25 Sold (MLS) $150,000 MLS PIN
• 2004-01-12 Listing Removed — MLS PIN
• 2003-11-21 Listed $179,900 MLS PIN

Property tax history

+3.3%/yr

Latest (2023): $3,418 · +36.3% YoY. Source: county tax records.