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
Price / SF$264.25
Days on Market53
Property Features for 495 Cedar Grove St
General Information
Standard status
Active
Size
2,456 SF
Total Parking Spaces
9
Property subtype
Multi-Family
Zoning
RC
Taxes and HOA fees
Annual Taxes
$4,909
Building Details
Building Size
2,456 SF
Year Built
1910
Stories
4
Listing Agency:
RE/MAX Vantage
(774) 992-0297
Listed By:
Team ROSO · License #TM333617
(508) 951-4104
Source:
Churchillprop
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 28 at 5:47AM
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
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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 / Yr
$35,304
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
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
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 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.
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Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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
