Fenced Multifamily
For Sale
$399,800
294 Weld St, New Bedford, MA 02740
Multifamily property with off-street parking and a secured outdoor area.
Property Size2,364 SF
Price / SF$169.12
Days on Market11
Property Features for 294 Weld St
General Information
Standard status
Active
Size
2,364 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
RB
Taxes and HOA fees
Annual Taxes
$3,496
Amenities
Tennis Court(s), Park, Golf, Sidewalks
Full
Fenced
Off Street
Building Details
Building Size
2,364 SF
Year Built
1888
Stories
3
Listing Agency:
LPT Realty - Home & Key Group
(774) 526-6511
Listed By:
Mia Holland · License #9553896
(774) 526-6511
Source:
Evrealestate
Added: Aug 10
Changed: Aug 12
Last Checked: Aug 20 at 5:54AM
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 LPT Realty - Home & Key Group
Investment Insights
Based on property information with market context.
This multifamily property is located at 294 Weld St in New Bedford, Massachusetts. The building dates to 1888 and includes a fenced exterior with off-street parking. The property is zoned RB and sits near the corner of Mt. Pleasant and Weld streets in Bristol County.
Key Highlights
- Multifamily property at 294 Weld St, New Bedford, MA 02740
- Built in 1888
- RB zoning
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
$31,197
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
7.80%
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%
$623,940
$623.9K
Cap Rate 7%
$445,671
$445.7K
Cap Rate 9%
$346,633
$346.6K
Market Conditions
NOI Build-Up for 2,364 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
$61.0K $25.80/SF
− Vacancy
−$4.3K −$1.81/SF
EGI
$56.7K $23.99/SF
− OpEx
−$25.5K −$10.80/SF
NOI
$31.2K $13.20/SF
Area
New Bedford, MA
Vacancy
7.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
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%
$623,940
Cap Rate 7%
$445,671
Cap Rate 9%
$346,633
Alternative Uses
Best Use
Apartment 5plus
$445.7K
$390.0K – $520.0K
NOI $31,197 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$697.0K
$609.9K – $813.2K
NOI $48,793 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
696
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
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?
Multifamily property - Multifamily property with off-street parking and a secured outdoor area.
Where is this multifamily property located?
The property is located at 294 Weld St New Bedford, MA.
What is the asking price?
The asking price for this property is $399,800.
What are key features of this property?
This property features: Multifamily property at 294 Weld St, New Bedford, MA 02740; Built in 1888; RB zoning
