Three-Unit Building with Private
For Sale
$499,900
Pending
21 Salisbury St, New Bedford, MA 02744
Residential Income, New Bedford, MA
Property Size2,531 SF
Lot Size0.08 Acres
Days on Market17
Property Features for 21 Salisbury St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 1
Parking
5
Directions
GPS
Subdivision
South End
Standard status
Pending
APN
2884514
Size
2,531 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5653
Amenities
private balcony
Building Details
Year built
1893
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Aug 19
Changed: Aug 26
Last Checked: Sep 4 at 6:06PM
MLS# 73565656
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex contains 2,531 square feet and was built in 1893. The property includes three residential units, with each unit arranged as a two-bedroom residence. A private balcony is provided on every level, giving each floor dedicated outdoor space. Off-street parking adds a practical feature for residents, while the RC zoning designation supports the property’s documented residential configuration.
The property is located at 21 Salisbury St in New Bedford, Massachusetts, within Bristol County and ZIP Code 02744. The lot encompasses 0.0762 acres. The existing three-unit layout, consistent bedroom count, balconies, and parking create a clearly defined multifamily offering.
The property is located at 21 Salisbury St in New Bedford, Massachusetts, within Bristol County and ZIP Code 02744. The lot encompasses 0.0762 acres. The existing three-unit layout, consistent bedroom count, balconies, and parking create a clearly defined multifamily offering.
Key Highlights
- Three‑unit multifamily property with 2,531 square feet
- Each unit offers a 2‑bedroom floor plan
- Private balcony on every level
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
$36,382
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
7.28%
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%
$727,640
$727.6K
Cap Rate 7%
$519,743
$519.7K
Cap Rate 9%
$404,244
$404.2K
Market Conditions
NOI Build-Up for 2,531 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
$56.2K $22.20/SF
− Vacancy
−$4.2K −$1.67/SF
EGI
$52.0K $20.54/SF
− OpEx
−$15.6K −$6.16/SF
NOI
$36.4K $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%
$727,640
Cap Rate 7%
$519,743
Cap Rate 9%
$404,244
Alternative Uses
Best Use
Multifamily LT 5
$519.7K
$454.8K – $606.4K
NOI $36,382 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$477.2K
$417.5K – $556.7K
NOI $33,401 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$746.3K
$653.0K – $870.7K
NOI $52,240 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
575
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?
Triplex - Three residential units feature two-bedroom layouts, private balconies, and off-street parking.
Where is this triplex located?
The property is located at 21 Salisbury St New Bedford, MA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,531 square feet; Each unit offers a 2‑bedroom floor plan; Private balcony on every level
