Renovated Three-Unit
New
For Sale
$599,999
304 County St, New Bedford, MA 02740
MULTI_FAMILY - New Bedford, MA
Property Size2,436 SF
Lot Size0.06 Acres
Price / SF$246.31
Days on Market2
Property Features for 304 County St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 5
Parking
2
Directions
Please use GPS
Standard status
Active
APN
M:0036 L:0145,2888137
Size
2,436 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4688
Amenities
dedicated storage area
Building Details
Year built
1877
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 6:06AM
MLS# 73561564
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.
Located at 304 County St in New Bedford, this 2,436-square-foot triplex contains two 2-bedroom apartments and one 1-bedroom apartment. All three units were renovated within the last five years. Building improvements include a newer roof and brand-new hot water tanks. The first-floor apartment has in-unit laundry and driveway access, while each unit has a dedicated storage area in the basement.
The first and second floors use newer gas space heaters, and the third floor is heated with electric baseboard. Current occupancy includes tenants at will in the first- and second-floor apartments, with the third-floor lease running through February. The property was built in 1877 and is zoned RB on a 0.0599-acre lot.
The first and second floors use newer gas space heaters, and the third floor is heated with electric baseboard. Current occupancy includes tenants at will in the first- and second-floor apartments, with the third-floor lease running through February. The property was built in 1877 and is zoned RB on a 0.0599-acre lot.
Key Highlights
- 2,436‑square‑foot triplex with two 2‑bedroom units and one 1‑bedroom unit
- All three apartments renovated within the last five years
- Newer roof and brand‑new hot water tanks
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
$35,016
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
5.84%
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%
$700,320
$700.3K
Cap Rate 7%
$500,229
$500.2K
Cap Rate 9%
$389,067
$389.1K
Market Conditions
NOI Build-Up for 2,436 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
$54.1K $22.20/SF
− Vacancy
−$4.1K −$1.67/SF
EGI
$50.0K $20.54/SF
− OpEx
−$15.0K −$6.16/SF
NOI
$35.0K $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%
$700,320
Cap Rate 7%
$500,229
Cap Rate 9%
$389,067
Alternative Uses
Best Use
Multifamily LT 5
$500.2K
$437.7K – $583.6K
NOI $35,016 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$459.2K
$401.8K – $535.8K
NOI $32,147 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$718.3K
$628.5K – $838.0K
NOI $50,279 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,538
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
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Frequently Asked Questions
What type of property is this?
Triplex - Updated apartments offer a two-bedroom, one-bedroom, and second two-bedroom unit configuration with separate basement storage.
Where is this triplex located?
The property is located at 304 County St New Bedford, MA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 2,436‑square‑foot triplex with two 2‑bedroom units and one 1‑bedroom unit; All three apartments renovated within the last five years; Newer roof and brand‑new hot water tanks
