Three-Family Income
For Sale
$609,000
166 Clifford St, New Bedford, MA 02745
Three-unit rental property with gas heat and hot water, separate utilities, and a fenced yard.
Property Size3,330 SF
Price / SF$182.88
Days on Market41
Property Features for 166 Clifford St
General Information
Standard status
Active
Size
3,330 SF
Property subtype
3 Family
Additional Details
Business Included
Yes
Fenced Yard
Yes
Multifamily Units
3
Building Details
Year Built
1913
Listing Agency:
eXp Realty LLC
(508) 317-1766
Listed By:
Kevin Fitzgerald
(508) 317-1766
Source:
Lockandkeyre
Added: Jul 11
Changed: Aug 19
Last Checked: Aug 20 at 4:25AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This for-sale three-family income property features gas heat and gas hot water for residential comfort. The homes are set up with separate utilities, which can help simplify operations and support lower shared overhead. A fenced-in yard adds privacy and a degree of outdoor low-maintenance use.
The property is located at 166-168 Clifford St in New Bedford, MA. The layout is described as currently allowing three to four bedroom configurations within the units. The basement is also set up for possible storage rentals.
According to the provided remarks, the third-floor unit would be vacant in August, with two tenants currently in place. The exterior is described as having aluminum siding.
The property is located at 166-168 Clifford St in New Bedford, MA. The layout is described as currently allowing three to four bedroom configurations within the units. The basement is also set up for possible storage rentals.
According to the provided remarks, the third-floor unit would be vacant in August, with two tenants currently in place. The exterior is described as having aluminum siding.
Key Highlights
- Three‑family rental built in 1913 with gas heat and gas hot water
- Separate utilities for each unit helps keep overhead and billing simple
- Fenced‑in yard provides added privacy with low‑maintenance outdoor space
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
$47,867
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
7.86%
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%
$957,340
$957.3K
Cap Rate 7%
$683,814
$683.8K
Cap Rate 9%
$531,856
$531.9K
Market Conditions
NOI Build-Up for 3,330 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
$73.9K $22.20/SF
− Vacancy
−$5.5K −$1.67/SF
EGI
$68.4K $20.54/SF
− OpEx
−$20.5K −$6.16/SF
NOI
$47.9K $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%
$957,340
Cap Rate 7%
$683,814
Cap Rate 9%
$531,856
Alternative Uses
Best Use
Multifamily LT 5
$683.8K
$598.3K – $797.8K
NOI $47,867 @ 7.0% cap · market cap 7.86%
Second Best
Apartment 5plus
$627.8K
$549.3K – $732.4K
NOI $43,945 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$981.9K
$859.1K – $1.15M
NOI $68,731 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
908
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?
Triplex - Three-unit rental property with gas heat and hot water, separate utilities, and a fenced yard.
Where is this triplex located?
The property is located at 166 Clifford St New Bedford, MA.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: Three‑family rental built in 1913 with gas heat and gas hot water; Separate utilities for each unit helps keep overhead and billing simple; Fenced‑in yard provides added privacy with low‑maintenance outdoor space
