Three-Unit Multifamily
For Sale
$690,000
211 Weld St, New Bedford, MA 02740
Finished basement adds usable space to this residential income property.
Property Size3,357 SF
Days on Market13
Property Features for 211 Weld St
General Information
Standard status
Active
Size
3,357 SF
Property subtype
Investment
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,113
Building Details
Building Size
3,357 SF
Year Built
1894
Buildings
1
Stories
6
Units
3
Listed By:
Luis Rodrigues · License #450550831
(508) 642-2958
Source:
Elliman
Added: Sep 15
Last Checked: Sep 26 at 11:37AM
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 Luis Rodrigues
Investment Insights
Based on property information with market context.
Located at 211 Weld Street in New Bedford, this triplex was built in 1894 and contains three residential units. Each unit has 3 bedrooms, creating a consistent layout across the property. A finished basement adds additional usable area beyond the individual apartments. The property is described as well maintained and in move-in-ready condition, with no major renovations identified in the provided information.
The property combines residential income use with an owner-occupant configuration, allowing a buyer to occupy one unit while renting the others. Walk Score is 84, classified as Very Walkable; Bike Score is 52, classified as Bikeable; and Transit Score is 36, classified as Some Transit.
The property combines residential income use with an owner-occupant configuration, allowing a buyer to occupy one unit while renting the others. Walk Score is 84, classified as Very Walkable; Bike Score is 52, classified as Bikeable; and Transit Score is 36, classified as Some Transit.
Key Highlights
- Three‑unit triplex with 3 bedrooms in each unit
- Finished basement provides additional usable space
- Built in 1894
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
$48,255
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
6.99%
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%
$965,100
$965.1K
Cap Rate 7%
$689,357
$689.4K
Cap Rate 9%
$536,167
$536.2K
Market Conditions
NOI Build-Up for 3,357 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
$74.5K $22.20/SF
− Vacancy
−$5.6K −$1.67/SF
EGI
$68.9K $20.54/SF
− OpEx
−$20.7K −$6.16/SF
NOI
$48.3K $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%
$965,100
Cap Rate 7%
$689,357
Cap Rate 9%
$536,167
Alternative Uses
Best Use
Multifamily LT 5
$689.4K
$603.2K – $804.3K
NOI $48,255 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$632.9K
$553.8K – $738.4K
NOI $44,301 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$989.8K
$866.1K – $1.15M
NOI $69,288 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
781
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Finished basement adds usable space to this residential income property.
Where is this triplex located?
The property is located at 211 Weld St New Bedford, MA.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Three‑unit triplex with 3 bedrooms in each unit; Finished basement provides additional usable space; Built in 1894
