Renovated Three-Family
For Sale
$649,000
495 Cedar Grove St, New Bedford, MA 02746
Three residential units were updated within the last four years and are fully occupied.
Property Size2,456 SF
Days on Market8
Property Features for 495 Cedar Grove St
General Information
Standard status
Active
Size
2,456 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,909
Building Details
Building Size
2,456 SF
Year Built
1910
Stories
4
Units
3
Listing Agency:
RE/MAX Vantage
Listed By:
Team ROSO
(508) 951-4104
Source:
Elliman
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 14 at 9:42AM
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 RE/MAX Vantage
Investment Insights
Based on property information with market context.
Built in 1910, this three-family property includes a one-bedroom apartment, a two-bedroom apartment, and a townhouse-style residence with two bedrooms plus two additional bonus rooms. All units were renovated within the last 4 years, providing updated residential space across the property. The building is fully occupied, and the exterior has received recent paint work.
Located at 495 Cedar Grove St in New Bedford, the property offers walking access to the highway and a 9+ car driveway with a newly added asphalt base coat. The surrounding area records a Walk Score of 84, a Bike Score of 52, and a Transit Score of 36.
Located at 495 Cedar Grove St in New Bedford, the property offers walking access to the highway and a 9+ car driveway with a newly added asphalt base coat. The surrounding area records a Walk Score of 84, a Bike Score of 52, and a Transit Score of 36.
Key Highlights
- Three‑family property with one one‑bedroom unit and two two‑bedroom residences
- All units renovated within the last 4 years
- Fully occupied residential property
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
$35,304
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
5.44%
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%
$706,080
$706.1K
Cap Rate 7%
$504,343
$504.3K
Cap Rate 9%
$392,267
$392.3K
Market Conditions
NOI Build-Up for 2,456 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
$54.5K $22.20/SF
− Vacancy
−$4.1K −$1.67/SF
EGI
$50.4K $20.54/SF
− OpEx
−$15.1K −$6.16/SF
NOI
$35.3K $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%
$706,080
Cap Rate 7%
$504,343
Cap Rate 9%
$392,267
Alternative Uses
Best Use
Multifamily LT 5
$504.3K
$441.3K – $588.4K
NOI $35,304 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$463.0K
$405.1K – $540.2K
NOI $32,411 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$724.2K
$633.7K – $844.9K
NOI $50,692 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
797
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 residential units were updated within the last four years and are fully occupied.
Where is this triplex located?
The property is located at 495 Cedar Grove St New Bedford, MA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Three‑family property with one one‑bedroom unit and two two‑bedroom residences; All units renovated within the last 4 years; Fully occupied residential property
