Three-Family Residential Income
187 David Street New Bedford, MA 02744
187 David Street, New Bedford, MA, 02744
$599,999
Pending
For Sale
$599,999
Pending
Well-maintained three-unit home with two-bedroom layouts across all units and off-street parking plus a one-car garage.
Property Size3,372 SF
Days on Market86
Property Features for 187 David Street
General Information
- Standard status
- Pending
- Size
- 3,372 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1905
Listing agency
RE/MAX Vantage
(774) 992-0297
Listed by
Tiffany Vieira · License #9567590
(774) 992-0297
Source
Compass
Added: Apr 28 Updated: Jul 21 at 2:03PM Checked: Jul 22 at 8:23AM
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 RE/MAX Vantage
Investment Insights
Based on property information with market context.
187 David Street in New Bedford, MA is a well-maintained three-family property with a consistent, practical layout. Each unit offers two bedrooms, spacious kitchens, and good-sized baths, making it appealing for renters who want comfortable, functional living space. The first-floor unit includes central air and heat.
Outside, the property features a low-maintenance setup with off-street parking, a one-car garage, attached storage, and a shed. The area offers everyday convenience, with a short stroll to the beach and to Kilburn Mill, which includes gyms, coffee shops, and local shops. Highway access is also described as easy in the provided materials.
This is a solid residential income opportunity with room for cosmetic upgrades, while maintaining key building and site features already in place.
Outside, the property features a low-maintenance setup with off-street parking, a one-car garage, attached storage, and a shed. The area offers everyday convenience, with a short stroll to the beach and to Kilburn Mill, which includes gyms, coffee shops, and local shops. Highway access is also described as easy in the provided materials.
This is a solid residential income opportunity with room for cosmetic upgrades, while maintaining key building and site features already in place.
Key Highlights
- Well‑maintained 3‑family home with two‑bedroom units in each of the three units
- Appliances included: range, dishwasher, microwave, refrigerator, washer, and dryer
- Laundry hookups: gas dryer hookup and washer hookup
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.9k | $22.20 |
| − Vacancy | −$5.6k | −$1.67 |
| EGI | $69.2k | $20.54 |
| − OpEx | −$20.8k | −$6.16 |
| NOI | $48.5k | $14.37 |
3,372 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$692.4K
$605.9K – $807.9K
NOI $48,471 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$635.7K
$556.2K – $741.7K
NOI $44,499 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$994.3K
$870.0K – $1.16M
NOI $69,598 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-unit home with two-bedroom layouts across all units and off-street parking plus a one-car garage.
Where is this triplex located?
The property is located at 187 David Street New Bedford, MA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Well‑maintained 3‑family home with two‑bedroom units in each of the three units; Appliances included: range, dishwasher, microwave, refrigerator, washer, and dryer; Laundry hookups: gas dryer hookup and washer hookup
