Three-Unit Triplex with
New
For Sale
$709,000
320 Davis Street, New Bedford, MA 02746
Three separate residences include shared laundry hookups, driveway parking, and a fenced yard with storage shed.
Property Size3,396 SF
Price / SF$208.78
Days on Market6
Property Features for 320 Davis Street
General Information
Standard status
Active
Size
3,396 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
RC
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,399
Amenities
basement
fenced-in yard
storage shed
central air
Building Details
Building Size
3,396 SF
Year Built
1910
Buildings
1
Stories
3
Listing Agency:
The Aland Realty Group LLC
(978) 578-5013
Listed By:
Chris Bernier · License #9551506
(978) 578-5013
Source:
Churchillprop
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 1:22PM
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 The Aland Realty Group LLC
Investment Insights
Based on property information with market context.
This 1910 three-unit residential property provides three bedrooms in each residence, for a total of 9 bedrooms. Interior features include hardwood flooring and vinyl replacement windows. The full basement has a full-size exterior entrance, while three laundry hookups support the building’s configuration. A fenced yard, storage shed, and driveway parking add practical outdoor and access features.
The first-floor unit includes central air, gas-fired forced-hot-air heat, a dishwasher, and a bathroom bidet. Its heating system is approximately 5 years old. The property will be delivered vacant at closing, and lead-safe certificates are available for all 3 units. Kitchen appliances, including 3 refrigerators, are included with the sale. The address has a Walk Score of 84, a Bike Score of 52, and a Transit Score of 36.
The first-floor unit includes central air, gas-fired forced-hot-air heat, a dishwasher, and a bathroom bidet. Its heating system is approximately 5 years old. The property will be delivered vacant at closing, and lead-safe certificates are available for all 3 units. Kitchen appliances, including 3 refrigerators, are included with the sale. The address has a Walk Score of 84, a Bike Score of 52, and a Transit Score of 36.
Key Highlights
- Three‑unit layout with 9 total bedrooms, including 3 bedrooms in each unit
- Full basement with full‑size exterior door access
- Driveway parking for approximately 3 cars
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
$48,816
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
6.89%
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%
$976,320
$976.3K
Cap Rate 7%
$697,371
$697.4K
Cap Rate 9%
$542,400
$542.4K
Market Conditions
NOI Build-Up for 3,396 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
$75.4K $22.20/SF
− Vacancy
−$5.7K −$1.67/SF
EGI
$69.7K $20.54/SF
− OpEx
−$20.9K −$6.16/SF
NOI
$48.8K $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%
$976,320
Cap Rate 7%
$697,371
Cap Rate 9%
$542,400
Alternative Uses
Best Use
Multifamily LT 5
$697.4K
$610.2K – $813.6K
NOI $48,816 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$640.2K
$560.2K – $746.9K
NOI $44,816 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.00M
$876.2K – $1.17M
NOI $70,093 @ 7.0% cap · market cap 9.89%
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
1,181
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences include shared laundry hookups, driveway parking, and a fenced yard with storage shed.
Where is this triplex located?
The property is located at 320 Davis Street New Bedford, MA.
What is the asking price?
The asking price for this property is $709,000.
What are key features of this property?
This property features: Three‑unit layout with 9 total bedrooms, including 3 bedrooms in each unit; Full basement with full‑size exterior door access; Driveway parking for approximately 3 cars
