Triplex with Private
New
For Sale
$499,900
21 Salisbury Street, New Bedford, MA 02744
Three residences offer two-bedroom layouts, private balconies, and off-street parking.
Property Size2,531 SF
Price / SF$197.51
Days on Market7
Property Features for 21 Salisbury Street
General Information
Standard status
Active
Size
2,531 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
balcony
Building Details
Year Built
1893
Buildings
1
Listing Agency:
RE/MAX Vantage
(508) 971-4046
Listed By:
Mary Feliciano Coba · License #9575800
(617) 262-6200
Source:
Cabotandcompany
Added: Aug 18
Changed: Aug 24
Last Checked: Aug 23 at 7:02AM
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.
Built in 1893, this triplex contains three residential units, each arranged with two bedrooms and a private balcony. The property also provides ample off-street parking, adding a practical amenity for residents.
Located at 21 Salisbury St in New Bedford’s South End, the property records a Walk Score of 84, a Bike Score of 66, and a Transit Score of 33. The three-level balcony configuration gives each unit access to private outdoor space while maintaining a consistent residential layout throughout the building.
Located at 21 Salisbury St in New Bedford’s South End, the property records a Walk Score of 84, a Bike Score of 66, and a Transit Score of 33. The three-level balcony configuration gives each unit access to private outdoor space while maintaining a consistent residential layout throughout the building.
Key Highlights
- Three‑unit triplex with 2 bedrooms in each unit
- Private balcony provided on every level
- Ample off‑street parking
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
$36,382
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
7.28%
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%
$727,640
$727.6K
Cap Rate 7%
$519,743
$519.7K
Cap Rate 9%
$404,244
$404.2K
Market Conditions
NOI Build-Up for 2,531 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
$56.2K $22.20/SF
− Vacancy
−$4.2K −$1.67/SF
EGI
$52.0K $20.54/SF
− OpEx
−$15.6K −$6.16/SF
NOI
$36.4K $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%
$727,640
Cap Rate 7%
$519,743
Cap Rate 9%
$404,244
Alternative Uses
Best Use
Multifamily LT 5
$519.7K
$454.8K – $606.4K
NOI $36,382 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$477.2K
$417.5K – $556.7K
NOI $33,401 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$746.3K
$653.0K – $870.7K
NOI $52,240 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
Explore this area
Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
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 residences offer two-bedroom layouts, private balconies, and off-street parking.
Where is this triplex located?
The property is located at 21 Salisbury Street New Bedford, MA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three‑unit triplex with 2 bedrooms in each unit; Private balcony provided on every level; Ample off‑street parking
