Five-Unit Multifamily
For Sale
$750,000
51 County Street, New Bedford, MA 02744
Vacant five-unit property with two-bedroom, one-bedroom, and a three-bedroom apartment mix for flexible rental configuration.
Property Size4,500 SF
Price / SF$166.67
Days on Market362
Property Features for 51 County Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
5
Building Details
Year Built
1880
Listing Agency:
Century 21 Limitless
Listed By:
Kyle Seyboth
(617) 846-8000
Source:
Highlandre
Added: Aug 15, 2025
Changed: Jul 20
Last Checked: Aug 10 at 3:41AM
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 Century 21 Limitless
Investment Insights
Based on property information with market context.
This versatile five-unit multifamily building offers a mix of apartment sizes, including two two-bedroom units, two one-bedroom units, and one three-bedroom unit. The property is currently vacant, giving an owner the flexibility to set occupancy and rental terms.
Located at 51 County Street in New Bedford, MA, the building provides easy access to nearby highways and local amenities, supporting convenient day-to-day living for prospective tenants.
The layout is designed to accommodate multiple household types through its varied unit mix, making it suitable for an investor seeking straightforward, income-focused diversification within a single property.
Located at 51 County Street in New Bedford, MA, the building provides easy access to nearby highways and local amenities, supporting convenient day-to-day living for prospective tenants.
The layout is designed to accommodate multiple household types through its varied unit mix, making it suitable for an investor seeking straightforward, income-focused diversification within a single property.
Key Highlights
- Vacant 5‑unit multi‑family home in New Bedford, MA
- Unit mix includes two 2‑bedroom units, two 1‑bedroom units, and one 3‑bedroom unit
- Year built: 1880
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
$59,385
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
7.92%
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%
$1,187,700
$1.2M
Cap Rate 7%
$848,357
$848.4K
Cap Rate 9%
$659,833
$659.8K
Market Conditions
NOI Build-Up for 4,500 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
$116.1K $25.80/SF
− Vacancy
−$8.1K −$1.81/SF
EGI
$108.0K $23.99/SF
− OpEx
−$48.6K −$10.80/SF
NOI
$59.4K $13.20/SF
Area
New Bedford, MA
Vacancy
7.00%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,187,700
Cap Rate 7%
$848,357
Cap Rate 9%
$659,833
Alternative Uses
Best Use
Apartment 5plus
$848.4K
$742.3K – $989.8K
NOI $59,385 @ 7.0% cap · market cap 7.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,880 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
852
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Vacant five-unit property with two-bedroom, one-bedroom, and a three-bedroom apartment mix for flexible rental configuration.
Where is this apartment building located?
The property is located at 51 County Street New Bedford, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Vacant 5‑unit multi‑family home in New Bedford, MA; Unit mix includes two 2‑bedroom units, two 1‑bedroom units, and one 3‑bedroom unit; Year built: 1880
