Three-Unit Property with
For Sale
$750,000
1-3 Social St, New Bedford, MA 02744
Three-family property with updated electrical, plumbing, and heating systems, plus a separate garage with electric and sewer service.
Property Size3,348 SF
Days on Market10
Property Features for 1-3 Social St
General Information
Standard status
Active
Size
3,348 SF
Property subtype
3 Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,716
Building Details
Building Size
3,348 SF
Year Built
1905
Listing Agency:
NextHome South Coast Realty
Listed By:
Jose Andrade
(774) 259-4110
Source:
Allisonmazer
Added: Sep 18
Changed: Sep 25
Last Checked: Sep 24 at 6:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NextHome South Coast Realty
Investment Insights
Based on property information with market context.
This three-family property was built in 1905 and contains 3,348 square feet. Recent improvements include updated electrical and plumbing systems along with new heating equipment. The property also includes 5 Social St., a separate garage with electric and sewer service. Located at 1-3 Social St in New Bedford, the offering combines a multifamily building with an additional utility-served structure.
Key Highlights
- Three‑family property with 3,348 square feet
- Built in 1905
- Updated electrical and plumbing systems
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
$48,126
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
6.42%
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%
$962,520
$962.5K
Cap Rate 7%
$687,514
$687.5K
Cap Rate 9%
$534,733
$534.7K
Market Conditions
NOI Build-Up for 3,348 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
$74.3K $22.20/SF
− Vacancy
−$5.6K −$1.67/SF
EGI
$68.8K $20.54/SF
− OpEx
−$20.6K −$6.16/SF
NOI
$48.1K $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%
$962,520
Cap Rate 7%
$687,514
Cap Rate 9%
$534,733
Alternative Uses
Best Use
Multifamily LT 5
$687.5K
$601.6K – $802.1K
NOI $48,126 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$631.2K
$552.3K – $736.4K
NOI $44,183 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$987.2K
$863.8K – $1.15M
NOI $69,103 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
674
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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-family property with updated electrical, plumbing, and heating systems, plus a separate garage with electric and sewer service.
Where is this triplex located?
The property is located at 1-3 Social St New Bedford, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three‑family property with 3,348 square feet; Built in 1905; Updated electrical and plumbing systems
