Three-Unit Triplex
New
For Sale
$579,900
158 Thompson St, New Bedford, MA 02740
Three separate residences feature hardwood floors and off-street parking.
Property Size3,189 SF
Days on Market6
Property Features for 158 Thompson St
General Information
Standard status
Active
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
Listing Agency:
(508) 889-3771
Listed By:
Michael Vaz · License #451503727
(508) 889-3771
Source:
Elliman
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 30 at 4:52PM
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 = 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
$45,840
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
7.90%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 - 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
