Three-Unit Multifamily
For Sale
$649,700
198 Eugenia Street, New Bedford, MA 02745
Three residential units offer a flexible multifamily configuration near shopping, schools, parks, transit, and highway access.
Property Size3,216 SF
Price / SF$202.02
Days on Market12
Property Features for 198 Eugenia Street
General Information
Standard status
Active
Size
3,216 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1910
Listing Agency:
Home Bound Realty
Listed By:
Paula Levasseur
(508) 867-2800
Source:
Miketoomeyrealestate
Added: Aug 9
Changed: Aug 20
Last Checked: Aug 20 at 9:14AM
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 Home Bound Realty
Investment Insights
Based on property information with market context.
Built in 1910, this three-unit multifamily property provides approximately 3,216 square feet of living space across 9 bedrooms and 3 full bathrooms. The configuration supports separate residential occupancy within a single property and may suit either an investor or an owner-occupant seeking multifamily housing.
The property is located at 198 Eugenia Street in New Bedford, near shopping, restaurants, schools, parks, public transportation, and major highway access. Its three-family layout combines substantial bedroom capacity with a manageable unit count for residential income ownership.
The property is located at 198 Eugenia Street in New Bedford, near shopping, restaurants, schools, parks, public transportation, and major highway access. Its three-family layout combines substantial bedroom capacity with a manageable unit count for residential income ownership.
Key Highlights
- Three‑unit multifamily property at 198 Eugenia Street, New Bedford, MA 02745
- Approximately 3,216 sq. ft. of living space
- 9 bedrooms and 3 full bathrooms
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
$46,228
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
7.12%
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%
$924,560
$924.6K
Cap Rate 7%
$660,400
$660.4K
Cap Rate 9%
$513,644
$513.6K
Market Conditions
NOI Build-Up for 3,216 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
$71.4K $22.20/SF
− Vacancy
−$5.4K −$1.67/SF
EGI
$66.0K $20.54/SF
− OpEx
−$19.8K −$6.16/SF
NOI
$46.2K $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%
$924,560
Cap Rate 7%
$660,400
Cap Rate 9%
$513,644
Alternative Uses
Best Use
Multifamily LT 5
$660.4K
$577.9K – $770.5K
NOI $46,228 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$606.3K
$530.5K – $707.4K
NOI $42,441 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$948.3K
$829.7K – $1.11M
NOI $66,378 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
985
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 residential units offer a flexible multifamily configuration near shopping, schools, parks, transit, and highway access.
Where is this triplex located?
The property is located at 198 Eugenia Street New Bedford, MA.
What is the asking price?
The asking price for this property is $649,700.
What are key features of this property?
This property features: Three‑unit multifamily property at 198 Eugenia Street, New Bedford, MA 02745; Approximately 3,216 sq. ft. of living space; 9 bedrooms and 3 full bathrooms
