New Bedford Multi-Family
For Sale
$849,900
104-106 Belleville Rd, New Bedford, MA 02745
Multi-family residence with twelve bedrooms and five full bathrooms.
Property Size4,878 SF
Price / SF$174.23
Days on Market109
Property Features for 104-106 Belleville Rd
General Information
Standard status
Active
Size
4,878 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,942
Building Details
Building Size
4,878 SF
Year Built
1912
Stories
5
Units
5
Listing Agency:
(508) 989-7283
Listed By:
Sandra Almeida
(508) 989-7283
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 9 at 6:55AM
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 Sandra Almeida
Investment Insights
Based on property information with market context.
Located at 104-106 Belleville Rd in New Bedford, this multi-family residence offers immediate occupancy. The property features 4,878 square feet of living area across three stories. The first floor includes a large living area with a double parlor and four spacious bedrooms. The remaining four units each have two bedrooms, a living room, and a dining room. In total, the property provides twelve bedrooms and five full bathrooms. A one-car garage is also included. The property has been under the care of the same owner for many years and is well maintained. The location has a walk score of 92, indicating it is a walker's paradise, a bike score of 57, indicating it is bikeable, and a transit score of 37, indicating some transit options are available.
Key Highlights
- Walker's paradise: enjoy a walkscore of 92, meaning most errands can be accomplished on foot.
- Large multi‑family residence: offering 4878 sq ft of living space with 12 bedrooms and 5 full bathrooms.
- Move‑in ready: meticulously prepared for immediate occupancy.
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
$64,374
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
7.57%
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%
$1,287,480
$1.3M
Cap Rate 7%
$919,629
$919.6K
Cap Rate 9%
$715,267
$715.3K
Market Conditions
NOI Build-Up for 4,878 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
$125.9K $25.80/SF
− Vacancy
−$8.8K −$1.81/SF
EGI
$117.0K $23.99/SF
− OpEx
−$52.7K −$10.80/SF
NOI
$64.4K $13.20/SF
Area
New Bedford, MA
Vacancy
7.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,287,480
Cap Rate 7%
$919,629
Cap Rate 9%
$715,267
Alternative Uses
Best Use
Apartment 5plus
$919.6K
$804.7K – $1.07M
NOI $64,374 @ 7.0% cap · market cap 7.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,682 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 02745, MA
25,336
Population
10,649
Households
2.4
Avg Household Size
41
Median Age
20%
College-Educated
83%
High-School Grad
9.8 sq mi
ZIP Area
2,585
Density / Sq Mi
$73,154
Median Household Income
$46,978
Median Earnings
$1,104
Median Rent
$339,600
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?
Apartment building - Multi-family residence with twelve bedrooms and five full bathrooms.
Where is this apartment building located?
The property is located at 104-106 Belleville Rd New Bedford, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Walker's paradise: enjoy a walkscore of 92, meaning most errands can be accomplished on foot.; Large multi‑family residence: offering 4878 sq ft of living space with 12 bedrooms and 5 full bathrooms.; Move‑in ready: meticulously prepared for immediate occupancy.
