Three-Unit Multifamily
For Sale
$579,000
37 Jouvette St., New Bedford, MA 02744
Residential income property with off-street parking, a fenced yard, patio, and paved driveway.
Property Size2,566 SF
Price / SF$225.64
Days on Market166
Property Features for 37 Jouvette St.
General Information
Standard status
Active
Size
2,566 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
RC
Net Operating Income
$16,800
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,325
Amenities
off-street parking
fenced-in yard
patio
paved driveway
Building Details
Building Size
2,566 SF
Year Built
1924
Buildings
1
Stories
3
Listing Agency:
Karen M. Overtoom R.E.
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 19
Changed: Aug 29
Last Checked: Aug 30 at 1:13PM
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 Karen M. Overtoom R.E.
Investment Insights
Based on property information with market context.
This multifamily property contains three residential units, each arranged with two bedrooms, a living room, dining area, kitchen, and full bathroom. The building was constructed in 1924 and carries RC zoning.
Outdoor features include a fenced yard with patio space, off-street parking, and a paved driveway. Located at 37 Jouvette St. in New Bedford, Massachusetts, the property offers a three-unit residential configuration with consistent layouts across the building.
Outdoor features include a fenced yard with patio space, off-street parking, and a paved driveway. Located at 37 Jouvette St. in New Bedford, Massachusetts, the property offers a three-unit residential configuration with consistent layouts across the building.
Key Highlights
- Three residential units, each with two bedrooms, living room, dining area, kitchen, and full bath
- Built in 1924
- RC 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
$36,885
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
6.37%
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%
$737,700
$737.7K
Cap Rate 7%
$526,929
$526.9K
Cap Rate 9%
$409,833
$409.8K
Market Conditions
NOI Build-Up for 2,566 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
$57.0K $22.20/SF
− Vacancy
−$4.3K −$1.67/SF
EGI
$52.7K $20.54/SF
− OpEx
−$15.8K −$6.16/SF
NOI
$36.9K $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%
$737,700
Cap Rate 7%
$526,929
Cap Rate 9%
$409,833
Alternative Uses
Best Use
Multifamily LT 5
$526.9K
$461.1K – $614.8K
NOI $36,885 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$483.8K
$423.3K – $564.4K
NOI $33,863 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$756.6K
$662.0K – $882.7K
NOI $52,962 @ 7.0% cap · market cap 9.15%
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
1,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 02744, MA
13,055
Population
5,609
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
10,042
Density / Sq Mi
$54,841
Median Household Income
$36,799
Median Earnings
$1,133
Median Rent
$344,800
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 - Residential income property with off-street parking, a fenced yard, patio, and paved driveway.
Where is this triplex located?
The property is located at 37 Jouvette St. New Bedford, MA.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Three residential units, each with two bedrooms, living room, dining area, kitchen, and full bath; Built in 1924; RC zoning
