Renovated Triplex with
New
For Sale
$649,000
495 Cedar Grove St, New Bedford, MA 02746
Residential Income, New Bedford, MA
Property Size2,456 SF
Lot Size0.15 Acres
Price / SF$264.25
Days on Market2
Property Features for 495 Cedar Grove St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 1, Bathroom 3
Parking
9
Directions
Use GPS
Standard status
Active
APN
M:0090 L:0034,2897885
Size
2,456 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4909
Building Details
Year built
1910
Floors in Building
4
Number of units
3
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Sep 7
Changed: Sep 8
Last Checked: Sep 8 at 12:06PM
MLS# 73572517
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.
This 2,456-square-foot triplex, built in 1910, offers three residential units with a varied layout. The first floor includes separate one-bedroom and two-bedroom apartments. A two-bedroom townhouse-style residence occupies the upper levels, with two additional bonus rooms on the third floor for flexible space. Each unit has been renovated within the last 4 years, and the property is fully occupied.
The 0.1529-acre parcel includes a 9+ car driveway with a recently applied asphalt base coat. The exterior has also been painted. Located in New Bedford, the property is within walking distance of highway access and is zoned RC.
The 0.1529-acre parcel includes a 9+ car driveway with a recently applied asphalt base coat. The exterior has also been painted. Located in New Bedford, the property is within walking distance of highway access and is zoned RC.
Key Highlights
- 2,456 square feet on a 0.1529‑acre parcel
- Three‑unit configuration with 1‑bedroom, 2‑bedroom, and townhouse‑style residences
- All units renovated within the last 4 years
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
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
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
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 - Three-unit residential property with recently renovated apartments and full occupancy.
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: 2,456 square feet on a 0.1529‑acre parcel; Three‑unit configuration with 1‑bedroom, 2‑bedroom, and townhouse‑style residences; All units renovated within the last 4 years
