Three-Unit Multifamily
New
For Sale
$649,900
99 Hazard St, New Bedford, MA 02740
Residential Income, New Bedford, MA
Property Size3,561 SF
Lot Size0.07 Acres
Price / SF$182.50
Days on Market3
Property Features for 99 Hazard St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 8, Bedroom 4, Bedroom 6, Bedroom 7, Bedroom 9, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1
Directions
Take I-195 to Exit 25 (Purchase St/County St).
Standard status
Active
APN
M:0071 L:0038,2894822
Size
3,561 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5744
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Aug 25
Last Checked: Aug 27 at 3:06AM
MLS# 73568027
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.
Located at 99 Hazard St in New Bedford, this three-unit residential income property contains 3,561 square feet across a 0.0746-acre lot. The building dates to 1910 and is designated RC zoning. The room record identifies 9 bedrooms and 3 bathrooms across the property.
The first- and third-floor units are currently vacant, while the property is positioned near local amenities, public transportation, and major highway access. The available units provide flexibility for an owner-occupant or for selecting future tenants, while the three-family configuration supports residential income use.
The first- and third-floor units are currently vacant, while the property is positioned near local amenities, public transportation, and major highway access. The available units provide flexibility for an owner-occupant or for selecting future tenants, while the three-family configuration supports residential income use.
Key Highlights
- Three‑family property with 3,561 square feet of building area
- First- and third‑floor units are currently vacant
- 9 bedrooms and 3 bathrooms identified in the property record
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
$51,188
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
7.88%
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%
$1,023,760
$1.0M
Cap Rate 7%
$731,257
$731.3K
Cap Rate 9%
$568,756
$568.8K
Market Conditions
NOI Build-Up for 3,561 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
$79.1K $22.20/SF
− Vacancy
−$5.9K −$1.67/SF
EGI
$73.1K $20.54/SF
− OpEx
−$21.9K −$6.16/SF
NOI
$51.2K $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%
$1,023,760
Cap Rate 7%
$731,257
Cap Rate 9%
$568,756
Alternative Uses
Best Use
Multifamily LT 5
$731.3K
$639.9K – $853.1K
NOI $51,188 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$671.3K
$587.4K – $783.2K
NOI $46,993 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$1.05M
$918.7K – $1.22M
NOI $73,499 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
708
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 - Built in 1910 and zoned RC, the property includes three residential units with two currently vacant.
Where is this triplex located?
The property is located at 99 Hazard St New Bedford, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Three‑family property with 3,561 square feet of building area; First- and third‑floor units are currently vacant; 9 bedrooms and 3 bathrooms identified in the property record
