Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    371 Reed St New Bedford, MA 02740

    Sponsored
    For Sale
    Under Contract
    $639,999

    MULTI_FAMILY - New Bedford, MA

    Property size:
    2,988 SF
    Lot size:
    0.11 Acres
    Days on Market:
    10
    Last Refresh:
    Jan 30 at 10:06 am

    Property Features for 371 Reed St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    RB
    Rooms
    Bedroom 2, Bathroom 2, Bedroom 5, Bedroom 7, Bedroom 3, Bedroom 1, Bedroom 6, Bathroom 1, Bathroom 3, Bedroom 4
    Bedrooms
    7
    Bathrooms
    3
    APN
    M:0050 L:0014,2891071
    Parking
    6
    Size
    2,988 SF
    Lot size
    0.11 Acres

    Building Details

    Year built
    1907
    Floors in Building
    3
    Number of units
    3

    We can help!

    Listing Contact
    Eddie Lopez
    Eddie Lopez

    RE/MAX VANTAGE (508) 999-4424

    Listing agent Eddie Lopez

    Listing date Jan 21, 2026

    MLS# 73468155 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    New Bedford Multi-Family Investment

    This three-family property is located in New Bedford, Massachusetts. The residence features three units with a total of eight potential bedrooms. Each unit includes spacious eat-in kitchens. Upgrades include modern siding, replacement windows, and energy-efficient mini-split systems. The property is conveniently located near Buttonwood Park, downtown New Bedford, and the train station, with access to local amenities and public transportation. The property has been under the same family's ownership for over 20 years. The large garage can be converted back to a three or four-stall garage, providing space for vehicles or hobbies within a fenced yard. The lot size is 0.1089 acres and the property size is 2,988 square feet. The zoning is RB.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Bedford
    County
    Bristol
    State
    Massachusetts
    Longitude
    -70.94749
    Latitude
    41.634645

    Nearby Similar for Sale

    • $575,000
      3,273 SF

      Mixed-Use Property in Revitalizing Downtown

      Historic property with flexible live/work potential in prime location.
      333 Union St, New Bedford, MA 02740
      View Details
    • $635,000
      3,385 SF

      Well-Maintained Three-Family Home

      Versatile three-family home with strong rental income potential and desirable updates.
      324 Cottage St, New Bedford, MA 02740
      View Details
    • $750,000
      4,842 SF

      New Bedford Multifamily Investment Opportunity

      Income-producing 5-unit property in New Bedford's South End.
      52 Ashley St, New Bedford, MA 02744
      View Details
    • $730,000
      3,984 SF

      Spacious Four-Family Home

      Spacious four-family home with updated kitchens and off-street parking.
      98 Beetle St, New Bedford, MA 02746
      View Details
    • $649,900
      2,732 SF

      Well-Maintained Three-Family Property

      Three-family property with spacious units and strong rental potential.
      98-100 South St, New Bedford, MA 02740
      View Details
    • $699,000
      3,920 SF

      Spacious Three-Family Home

      Well-maintained three-unit property with hardwood floors and ample parking.
      36 Kane St, New Bedford, MA 02740
      View Details
    • $599,900
      2,208 SF

      New Bedford Three-Family Property

      Well-maintained three-family property in New Bedford, ideal for investors.
      152 Washington St, New Bedford, MA 02740
      View Details
    • $685,000
      4,056 SF

      New Bedford Multifamily Investment Opportunity

      Six-unit multifamily property with value-add potential in New Bedford, MA.
      20 Lafrance Ct, New Bedford, MA 02740
      View Details
    • $649,999
      3,450 SF

      Renovated Two-Family Home, New Bedford

      Fully renovated two-family property with strong income potential.
      57 Washburn St, New Bedford, MA 02740
      View Details
    • New
      $459,900
      1,788 SF

      Well-Maintained Multi-Family Home

      Spacious 4-bedroom home with finished basement and private patio.
      10 Erics Way, New Bedford, MA 02746
      View Details
    • $585,000
      2,067 SF

      Renovated Two-Family Home, New Bedford

      Renovated two-family home with modern updates, move-in ready.
      20 Shawmut Ave, New Bedford, MA 02740
      View Details
    • $650,000
      2,336 SF

      Renovated Two-Family Home with Garage

      Fully renovated, vacant two-family home on a corner lot.
      296 Hemlock St, New Bedford, MA 02740
      View Details

    FAQs

    What type of property is this?
    Triplex - Three-unit property near Buttonwood Park, downtown, and train station.
    Where is this triplex located?
    The property is located at 371 Reed St New Bedford, MA.
    What is the asking price?
    The asking price for this property is $639,999.
    What are key features of this property?
    This property features: - Three separate units offer excellent investment potential or owner-occupancy opportunity.; - Convenient location near Buttonwood Park, downtown New Bedford, and the train station.; - Modern upgrades include siding, replacement windows, and energy-efficient mini-split systems.
    (508) 999-4424
    Request Owner's contact information
    371 Reed St New Bedford, MA 02740
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    371 Reed St
    New Bedford, MA 02740
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    371 Reed St New Bedford, MA 02740
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Eddie Lopez
    Eddie Lopez
    (508) 999-4424
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.