Three-Family Residential Income
For Sale
$650,000
5 Tallman Ln, New Bedford, MA 02740
MULTI_FAMILY - New Bedford, MA
Property Size3,132 SF
Lot Size0.06 Acres
Price / SF$207.54
Days on Market100
Property Features for 5 Tallman Ln
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MUB
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 9, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 8, Bedroom 7, Bedroom 5
Parking
6
Directions
USE GPS
Standard status
Active
APN
M:0037 L:0276,2888460
Size
3,132 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6374
Building Details
Year built
1882
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: Apr 22
Changed: Jul 30
Last Checked: Jul 30 at 3:06PM
MLS# 73505828
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 well-maintained three-family home offers three spacious residential units, each configured with three bedrooms and ample living space. The property is served by central heat throughout, providing consistent comfort across all units. Positioned on a private street, the home supports both investment use and owner-occupancy arrangements where additional rental income is part of the plan.
The property is conveniently located in New Bedford near highway access and everyday local amenities, including grocery stores and churches. Its setting on a private street adds a measure of privacy while keeping essential services within reach.
For tenants and buyers, the unit mix can support a range of household needs, with each apartment providing the same three-bedroom layout. For owner-occupants, the building offers a straightforward live-and-lease scenario, while investors can evaluate the consistency of having three similar unit configurations serviced by central heat. The current asset is residential income property with three complete, self-contained units in place.
The property is conveniently located in New Bedford near highway access and everyday local amenities, including grocery stores and churches. Its setting on a private street adds a measure of privacy while keeping essential services within reach.
For tenants and buyers, the unit mix can support a range of household needs, with each apartment providing the same three-bedroom layout. For owner-occupants, the building offers a straightforward live-and-lease scenario, while investors can evaluate the consistency of having three similar unit configurations serviced by central heat. The current asset is residential income property with three complete, self-contained units in place.
Key Highlights
- Well‑maintained three‑family home built in 1882
- Three spacious units, each with 3 bedrooms
- Total of 9 bedrooms and 3 bathrooms across the three units
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.5k | $22.20 |
| − Vacancy | −$5.2k | −$1.67 |
| EGI | $64.3k | $20.54 |
| − OpEx | −$19.3k | −$6.16 |
| NOI | $45.0k | $14.37 |
3,132 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$643.2K
$562.8K – $750.4K
NOI $45,021 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$590.5K
$516.7K – $688.9K
NOI $41,332 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$923.5K
$808.1K – $1.08M
NOI $64,644 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three spacious three-bedroom units with central heat in a well-maintained home on a private street.
Where is this triplex located?
The property is located at 5 Tallman Ln New Bedford, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Well‑maintained three‑family home built in 1882; Three spacious units, each with 3 bedrooms; Total of 9 bedrooms and 3 bathrooms across the three units
