
590 Union Street New Bedford — Photo 1 of 25
$460,000
Investment Analysis — 590 Union Street
New Bedford, MA 02740
Based on HUD Small Area Fair Market Rent for New Bedford, MA HUD Metro FMR Area, a 3-bedroom in 02740 carries an estimated $1,760/mo in gross rent — about a 2.59% cap rate and $11,925/yr in estimated NOI at the $460,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2.5
SqFt
1,550
Style
Single Family
Built
1915
Classic character, thoughtful improvements and a location that puts some of New Bedford’s best-known destinations within easy reach come together in this spacious Colonial. Hardwood floors carry through the living room, dining room and bedrooms, while a fireplace anchors the living area and the kitchen offers stone counters, stainless appliances, gas cooking and a breakfast bar. Upstairs are three bedrooms, including a primary with private bath and another with access to an exterior balcony. A walk-up third floor adds substantial attic space and a large walk-in closet, creating valuable storage and future possibilities. Recent improvements include a new rear deck, refreshed slate roof, first-floor mini-split, new fencing, Andersen storm doors and basement waterproofing. Outside, enjoy a fenced yard, detached garage and paved parking. Buttonwood Park, Buttonwood Park Zoo, St. Luke’s Hospital, Downtown New Bedford, the New Bedford Whaling Museum, historic waterfront and I-195 are all nearby, adding recreation, dining, culture and commuter access to the home’s appeal.
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 775 sq ft (the lesser of 900 sq ft or half the 1,550 sq ft principal dwelling). Lot size: 2,540 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
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Property Details
Financials
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Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Water Heater • Dishwasher • Disposal • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Medical Facility • Laundromat
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First14 x 15
Flooring - Hardwood, Cable Hookup
Dining Room
Lvl First16 x 12
Flooring - Hardwood
Kitchen
Lvl First14 x 13
Flooring - Laminate, Countertops - Stone/Granite/Solid, Breakfast Bar / Nook, Recessed Lighting, Stainless Steel Appliances, Gas Stove
Master Bedroom
Lvl Second14 x 11
Bathroom - Full, Ceiling Fan(s), Closet, Flooring - Hardwood
Bedroom 2
Lvl Second14 x 15
Bedroom 3
Lvl Second14 x 12
Closet, Flooring - Hardwood
Bathroom 1
Lvl Second7 x 7
Bathroom - 3/4, Bathroom - With Shower Stall, Flooring - Stone/Ceramic Tile
Bathroom 2
Lvl Second7 x 7
Bathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile
Bathroom 3
Lvl First5 x 6
Bathroom - Half, Flooring - Stone/Ceramic Tile
Listing Agent: Cheryl Perry
Listing Office: Lamacchia Realty, Inc
MLS® Number: 73573377
