Renovated
For Sale
$559,000
Pending
1441 Pleasant Street, New Bedford, MA 02740
Three 2-bedroom, 1-bath units are delivered vacant, with updates on the second floor and a full renovation on the third floor.
Property Size2,212 SF
Days on Market216
Property Features for 1441 Pleasant Street
General Information
Standard status
Pending
Size
2,212 SF
Property subtype
Multi-family / 3 Family
Zoning
MUB
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,620
Amenities
City/Town Sewer, Public
No, .00
No
Range, Refrigerator
3.0
Interior Access, Unfinished Basement
Living Room, Dining Room, Kitchen
3
3.00
Level
Building Details
Year Built
1882
Listing Agency:
EVO Real Estate Group, LLC
(617) 517-9755
Listed By:
Daniel Garcia · License #9629180
(617) 517-9755
Source:
Compass
Added: Jan 27
Changed: Aug 30
Last Checked: Aug 30 at 7:46PM
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 EVO Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This triplex at 1441 Pleasant Street contains three residential units, each configured with 2 bedrooms and 1 bath. The 2,212-square-foot property was built in 1882 and is delivered fully vacant. The third-floor apartment has been fully renovated, while the second-floor unit has received updates. The remaining apartment offers a different existing condition within the three-unit layout.
The property is located in New Bedford near parks, schools, shopping, dining, and major commuter routes. MUB zoning applies to the site. Interior features include living rooms, dining rooms, kitchens, ranges, refrigerators, interior access, and an unfinished basement. The property also includes a level exterior setting.
The property is located in New Bedford near parks, schools, shopping, dining, and major commuter routes. MUB zoning applies to the site. Interior features include living rooms, dining rooms, kitchens, ranges, refrigerators, interior access, and an unfinished basement. The property also includes a level exterior setting.
Key Highlights
- Three‑unit multifamily property delivered fully vacant
- Each apartment offers a 2‑bedroom, 1‑bath layout
- Third‑floor unit fully renovated; second‑floor unit updated
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
$31,796
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
5.69%
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%
$635,920
$635.9K
Cap Rate 7%
$454,229
$454.2K
Cap Rate 9%
$353,289
$353.3K
Market Conditions
NOI Build-Up for 2,212 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
$49.1K $22.20/SF
− Vacancy
−$3.7K −$1.67/SF
EGI
$45.4K $20.54/SF
− OpEx
−$13.6K −$6.16/SF
NOI
$31.8K $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%
$635,920
Cap Rate 7%
$454,229
Cap Rate 9%
$353,289
Alternative Uses
Best Use
Multifamily LT 5
$454.2K
$397.5K – $529.9K
NOI $31,796 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$417.0K
$364.9K – $486.5K
NOI $29,191 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$652.2K
$570.7K – $760.9K
NOI $45,656 @ 7.0% cap · market cap 8.17%
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
781
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 - Three 2-bedroom, 1-bath units are delivered vacant, with updates on the second floor and a full renovation on the third floor.
Where is this triplex located?
The property is located at 1441 Pleasant Street New Bedford, MA.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Three‑unit multifamily property delivered fully vacant; Each apartment offers a 2‑bedroom, 1‑bath layout; Third‑floor unit fully renovated; second‑floor unit updated
