Three-Family Residential Income
For Sale
$650,000
Pending
5 Tallman Ln, New Bedford, MA 02740
Three spacious units with three bedrooms each and central heat offer flexible living or rental configuration.
Property Size3,132 SF
Days on Market121
Property Features for 5 Tallman Ln
General Information
Standard status
Pending
Size
3,132 SF
Property subtype
3 Family - 3 Units Up/Down
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,374
Building Details
Building Size
3,132 SF
Year Built
1882
Listing Agency:
RE/MAX Vantage
(774) 520-7433
Listed By:
Bessy Rivas · License #9564889
Source:
Donnellyandco
Added: Apr 22
Changed: Aug 8
Last Checked: Aug 1 at 10:56AM
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.
This well-maintained three-family home provides three separate, spacious units, and each unit is laid out with three bedrooms and ample living space. Central heat is provided throughout the property. The configuration supports a straightforward owner-occupant setup or fully rented use, with multiple independent residential spaces under one roof.
The home is located on a private street in New Bedford and is described as conveniently positioned near highways and everyday local amenities, including grocery stores and churches. The surrounding area is intended to support routine access and day-to-day convenience for residents.
With three complete three-bedroom units, the property can fit a range of occupancy strategies, including multi-generational living or an investor seeking to manage a residential income asset. The combination of a three-unit structure and central heating may simplify operations and day-to-day comfort for tenants or residents.
The home is located on a private street in New Bedford and is described as conveniently positioned near highways and everyday local amenities, including grocery stores and churches. The surrounding area is intended to support routine access and day-to-day convenience for residents.
With three complete three-bedroom units, the property can fit a range of occupancy strategies, including multi-generational living or an investor seeking to manage a residential income asset. The combination of a three-unit structure and central heating may simplify operations and day-to-day comfort for tenants or residents.
Key Highlights
- Three‑family home built in 1882 in New Bedford
- Three spacious units, each with 3 bedrooms
- Central heat throughout the home
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
$45,021
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
6.93%
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%
$900,420
$900.4K
Cap Rate 7%
$643,157
$643.2K
Cap Rate 9%
$500,233
$500.2K
Market Conditions
NOI Build-Up for 3,132 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
$69.5K $22.20/SF
− Vacancy
−$5.2K −$1.67/SF
EGI
$64.3K $20.54/SF
− OpEx
−$19.3K −$6.16/SF
NOI
$45.0K $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%
$900,420
Cap Rate 7%
$643,157
Cap Rate 9%
$500,233
Alternative Uses
Best Use
Multifamily LT 5
$643.2K
$562.8K – $750.4K
NOI $45,021 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$590.5K
$516.7K – $688.9K
NOI $41,332 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$923.5K
$808.1K – $1.08M
NOI $64,644 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 02740, MA
45,166
Population
20,532
Households
2.2
Avg Household Size
39
Median Age
18%
College-Educated
77%
High-School Grad
5.7 sq mi
ZIP Area
7,924
Density / Sq Mi
$54,563
Median Household Income
$39,310
Median Earnings
$1,052
Median Rent
$303,400
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 spacious units with three bedrooms each and central heat offer flexible living or rental configuration.
Where is this triplex located?
The property is located at 5 Tallman Ln New Bedford, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑family home built in 1882 in New Bedford; Three spacious units, each with 3 bedrooms; Central heat throughout the home
