Three-Unit Property with Enclosed
For Sale
$645,000
128 Mott St, New Bedford, MA 02744
Separate utilities, updated systems, and one vacant unit support flexible occupancy options.
Property Size3,342 SF
Price / SF$192
Days on Market118
Property Features for 128 Mott St
General Information
Standard status
Active
Size
3,342 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
RC
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,790
Building Details
Building Size
3,342 SF
Year Built
1910
Stories
3
Listing Agency:
Coldwell Banker Realty - Boston
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 6
Changed: Aug 29
Last Checked: Aug 30 at 1:59PM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
This 3,342-square-foot triplex, built in 1910, includes three residential units with separate utilities. The first-floor apartment has an updated kitchen with a more open configuration and baseboard heating. An enclosed porch on the third floor provides partial ocean views. The property also features an updated roof, updated systems, and off-street parking for up to three vehicles.
One unit is vacant, providing flexibility for owner occupancy or rental use. The property is located in New Bedford’s South End near parks, local amenities, and major routes, with RC zoning supporting its existing multifamily configuration.
One unit is vacant, providing flexibility for owner occupancy or rental use. The property is located in New Bedford’s South End near parks, local amenities, and major routes, with RC zoning supporting its existing multifamily configuration.
Key Highlights
- Three‑unit multifamily property with 3,342 SF, built in 1910
- RC zoning and separate utilities for each unit
- First‑floor unit includes an updated kitchen and baseboard heating
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
$48,040
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
7.45%
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%
$960,800
$960.8K
Cap Rate 7%
$686,286
$686.3K
Cap Rate 9%
$533,778
$533.8K
Market Conditions
NOI Build-Up for 3,342 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
$74.2K $22.20/SF
− Vacancy
−$5.6K −$1.67/SF
EGI
$68.6K $20.54/SF
− OpEx
−$20.6K −$6.16/SF
NOI
$48.0K $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%
$960,800
Cap Rate 7%
$686,286
Cap Rate 9%
$533,778
Alternative Uses
Best Use
Multifamily LT 5
$686.3K
$600.5K – $800.7K
NOI $48,040 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$630.0K
$551.3K – $735.1K
NOI $44,103 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$985.4K
$862.2K – $1.15M
NOI $68,979 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
478
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
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 - Separate utilities, updated systems, and one vacant unit support flexible occupancy options.
Where is this triplex located?
The property is located at 128 Mott St New Bedford, MA.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 3,342 SF, built in 1910; RC zoning and separate utilities for each unit; First‑floor unit includes an updated kitchen and baseboard heating
