Three-Unit Triplex
For Sale
$579,900
Pending
158 Thompson St, New Bedford, MA 02740
Three separate residences feature hardwood floors and off-street parking.
Property Size3,189 SF
Days on Market51
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Property Features for 158 Thompson St
General Information
Standard status
Pending
Size
3,189 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,222
Building Details
Building Size
3,189 SF
Year Built
1907
Stories
3
Units
3
Listed By:
Michael Vaz · License #451503727
(508) 889-3771
Source:
Elliman
Added: Aug 26
Changed: Oct 9
Last Checked: Oct 15 at 12:30AM
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 Michael Vaz
Investment Insights
Based on property information with market context.
This triplex property at 158 Thompson St includes three separate residential units, hardwood flooring, spacious living areas, and off-street parking. Constructed in 1907, the building offers a multi-unit configuration suited to continued residential occupancy.
The property is in New Bedford, near shopping, restaurants, schools, and highway access. WalkScore is 70, indicating a very walkable setting; BikeScore is 51, and TransitScore is 47. The layout also supports an owner-occupancy arrangement with rental income from the additional units, as well as use as a three-unit residential holding.
The property is in New Bedford, near shopping, restaurants, schools, and highway access. WalkScore is 70, indicating a very walkable setting; BikeScore is 51, and TransitScore is 47. The layout also supports an owner-occupancy arrangement with rental income from the additional units, as well as use as a three-unit residential holding.
Key Highlights
- Three separate residential units
- Hardwood flooring throughout the property
- Off‑street parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,840
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$916,800
$916.8K
Cap Rate 7%
$654,857
$654.9K
Cap Rate 9%
$509,333
$509.3K
Market Conditions
NOI Build-Up for 3,189 SF
Gross rent
$70.8K $22.20/SF
− Vacancy
−$5.3K −$1.67/SF
EGI
$65.5K $20.54/SF
− OpEx
−$19.6K −$6.16/SF
NOI
$45.8K $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 Rate 5%
$916,800
Cap Rate 7%
$654,857
Cap Rate 9%
$509,333
Alternative Uses
Best Use
Multifamily LT 5
$654.9K
$573.0K – $764.0K
NOI $45,840 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$601.2K
$526.1K – $701.4K
NOI $42,084 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$940.3K
$822.8K – $1.10M
NOI $65,821 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,373
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences feature hardwood floors and off-street parking.
Where is this triplex located?
The property is located at 158 Thompson St New Bedford, MA.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Three separate residential units; Hardwood flooring throughout the property; Off‑street parking included
