3-Family Home with Gas Central
For Sale
$649,900
Pending
247 Ashley Blvd, New Bedford, MA 02746
MULTI_FAMILY - New Bedford, MA
Property Size3,513 SF
Lot Size0.06 Acres
Days on Market50
Property Features for 247 Ashley Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MUB
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 1, Bedroom 7, Bathroom 1, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 8, Bedroom 9, Bedroom 5
Directions
Please kindly follow GPS.
Standard status
Pending
APN
M:0098 L:0032,2898979
Size
3,513 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6469
Building Details
Year built
1884
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Synergy · RE/MAX International
(508) 857-5392
Listed By:
Luis B Martins
(508) 857-5392
Added: Jun 24
Changed: Aug 3
Last Checked: Aug 12 at 8:06PM
MLS# 73540792
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained 3-family home features three 3-bedroom units, each with a kitchen and bath, and gas central heating. Units 2 and 3 have been updated with modern finishes.
Located at 247 Ashley Blvd in New Bedford, MA, the property sits on a 0.0621-acre lot. The home was built in 1884 and totals 3,513 square feet. Zoning is listed as MUB, supporting residential income use in the area.
The layout and unit configuration make this a practical option for an owner-occupant seeking rental income from multiple units, or for an investor looking for a straightforward multi-family holding.
Located at 247 Ashley Blvd in New Bedford, MA, the property sits on a 0.0621-acre lot. The home was built in 1884 and totals 3,513 square feet. Zoning is listed as MUB, supporting residential income use in the area.
The layout and unit configuration make this a practical option for an owner-occupant seeking rental income from multiple units, or for an investor looking for a straightforward multi-family holding.
Key Highlights
- Three 3‑bedroom units, each with a kitchen and bath
- Gas central heating in all units
- Units 2 and 3 updated with modern finishes
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
$50,498
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
7.77%
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%
$1,009,960
$1.0M
Cap Rate 7%
$721,400
$721.4K
Cap Rate 9%
$561,089
$561.1K
Market Conditions
NOI Build-Up for 3,513 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
$78.0K $22.20/SF
− Vacancy
−$5.8K −$1.67/SF
EGI
$72.1K $20.54/SF
− OpEx
−$21.6K −$6.16/SF
NOI
$50.5K $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%
$1,009,960
Cap Rate 7%
$721,400
Cap Rate 9%
$561,089
Alternative Uses
Best Use
Multifamily LT 5
$721.4K
$631.2K – $841.6K
NOI $50,498 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$662.3K
$579.5K – $772.7K
NOI $46,360 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$1.04M
$906.4K – $1.21M
NOI $72,508 @ 7.0% cap · market cap 11.16%
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
1,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 02746, MA
17,355
Population
7,640
Households
2.3
Avg Household Size
33
Median Age
10%
College-Educated
67%
High-School Grad
2.8 sq mi
ZIP Area
6,198
Density / Sq Mi
$41,023
Median Household Income
$33,472
Median Earnings
$1,100
Median Rent
$324,400
Median Home Value
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 - Well-maintained 3-family property with three 3-bedroom units, each with kitchens, baths, and gas central heating.
Where is this triplex located?
The property is located at 247 Ashley Blvd New Bedford, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Three 3‑bedroom units, each with a kitchen and bath; Gas central heating in all units; Units 2 and 3 updated with modern finishes
