Four-Unit Multifamily
New
For Sale
$679,000
126 Princeton St, New Bedford, MA 02745
Unit mix includes two three-bedroom apartments and two one-bedroom apartments.
Property Size3,552 SF
Days on Market2
Property Features for 126 Princeton St
General Information
Standard status
Active
Size
3,552 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,051
Building Details
Building Size
3,552 SF
Year Built
1910
Stories
4
Units
4
Listing Agency:
(617) 319-1085
Listed By:
Ron Ifrah
(617) 319-1085
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 4:24AM
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 Ron Ifrah
Investment Insights
Based on property information with market context.
This four-unit multifamily property at 126 Princeton St in New Bedford includes two three-bedroom apartments and two one-bedroom apartments. The building dates to 1910 and provides off-street parking, adding practical convenience for residents and supporting the property's residential income configuration.
The property is positioned in a walkable New Bedford setting, with a walk score of 84 and a bike score of 52. Transit is available, reflected in a transit score of 36. The combination of four residential units, varied bedroom layouts, and on-site parking creates a clearly defined multifamily asset for an investor seeking an established residential property.
The property is positioned in a walkable New Bedford setting, with a walk score of 84 and a bike score of 52. Transit is available, reflected in a transit score of 36. The combination of four residential units, varied bedroom layouts, and on-site parking creates a clearly defined multifamily asset for an investor seeking an established residential property.
Key Highlights
- Four residential units with two 3‑bedroom and two 1‑bedroom apartments
- Off‑street parking included
- Constructed in 1910
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
$51,058
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
7.52%
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%
$1,021,160
$1.0M
Cap Rate 7%
$729,400
$729.4K
Cap Rate 9%
$567,311
$567.3K
Market Conditions
NOI Build-Up for 3,552 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
$78.9K $22.20/SF
− Vacancy
−$5.9K −$1.67/SF
EGI
$72.9K $20.54/SF
− OpEx
−$21.9K −$6.16/SF
NOI
$51.1K $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%
$1,021,160
Cap Rate 7%
$729,400
Cap Rate 9%
$567,311
Alternative Uses
Best Use
Multifamily LT 5
$729.4K
$638.2K – $851.0K
NOI $51,058 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$669.6K
$585.9K – $781.3K
NOI $46,875 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$1.05M
$916.4K – $1.22M
NOI $73,313 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
857
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?
Quadplex - Unit mix includes two three-bedroom apartments and two one-bedroom apartments.
Where is this quadplex located?
The property is located at 126 Princeton St New Bedford, MA.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Four residential units with two 3‑bedroom and two 1‑bedroom apartments; Off‑street parking included; Constructed in 1910
