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590 Union Street New Bedford — Photo 1 of 25

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.

View Standard Listing

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

Original Price$460,000
Annual Taxes$4,126

Parking

Garage1
Off-Street4

Interior Specifications

Total Rooms7
Fireplaces1
FlooringTile, Hardwood, Wood Laminate
BasementFull, Walk-Out Access, Interior Entry, Concrete, Unfinished

Climate & Utilities

HeatingRadiant, Natural Gas
CoolingHeat Pump
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionConventional (2x4-2x6)
RoofSlate
FoundationStone
ZoningRB

Property & Lot

Acres0.06
SqFt Lot2,540
Lot FeaturesCorner 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

Second
Master BedroomBedroom 2Bedroom 3Bathroom 1Bathroom 2
First
Living RoomDining RoomKitchenBathroom 3
Living Room
Lvl First

14 x 15

Flooring - Hardwood, Cable Hookup

Dining Room
Lvl First

16 x 12

Flooring - Hardwood

Kitchen
Lvl First

14 x 13

Flooring - Laminate, Countertops - Stone/Granite/Solid, Breakfast Bar / Nook, Recessed Lighting, Stainless Steel Appliances, Gas Stove

Master Bedroom
Lvl Second

14 x 11

Bathroom - Full, Ceiling Fan(s), Closet, Flooring - Hardwood

Bedroom 2
Lvl Second

14 x 15

Bedroom 3
Lvl Second

14 x 12

Closet, Flooring - Hardwood

Bathroom 1
Lvl Second

7 x 7

Bathroom - 3/4, Bathroom - With Shower Stall, Flooring - Stone/Ceramic Tile

Bathroom 2
Lvl Second

7 x 7

Bathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile

Bathroom 3
Lvl First

5 x 6

Bathroom - Half, Flooring - Stone/Ceramic Tile

Listing Provided By

Listing Agent: Cheryl Perry

Listing Office: Lamacchia Realty, Inc

MLS® Number: 73573377