Triplex with Open-Plan
New
For Sale
$540,000
83 Rockland St, New Bedford, MA 02740
Each residence combines two bedrooms and a full bathroom with connected living and dining areas.
Property Size2,133 SF
Days on Market5
Property Features for 83 Rockland St
General Information
Standard status
Active
Size
2,133 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,456
Building Details
Building Size
2,133 SF
Year Built
1886
Stories
4
Units
3
Listing Agency:
Home Bound Realty
Listed By:
Paula Levasseur · License #451502447
(774) 930-1605
Source:
Elliman
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 2 at 9:40PM
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 Home Bound Realty
Investment Insights
Based on property information with market context.
At 83 Rockland Street, this three-unit residential property has matching layouts across the units. Each includes an open arrangement of kitchen, dining, and living areas, along with two bedrooms and one full bathroom.
The building dates to 1886. The property has a Walk Score of 84, a Bike Score of 66, and a Transit Score of 33.
The building dates to 1886. The property has a Walk Score of 84, a Bike Score of 66, and a Transit Score of 33.
Key Highlights
- Three residential units, each with two bedrooms and one full bathroom
- Open‑plan layout in each unit, with kitchen, dining, and living areas
- Built in 1886
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
$30,661
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
5.68%
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%
$613,220
$613.2K
Cap Rate 7%
$438,014
$438.0K
Cap Rate 9%
$340,678
$340.7K
Market Conditions
NOI Build-Up for 2,133 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
$47.4K $22.20/SF
− Vacancy
−$3.6K −$1.67/SF
EGI
$43.8K $20.54/SF
− OpEx
−$13.1K −$6.16/SF
NOI
$30.7K $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%
$613,220
Cap Rate 7%
$438,014
Cap Rate 9%
$340,678
Alternative Uses
Best Use
Multifamily LT 5
$438.0K
$383.3K – $511.0K
NOI $30,661 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$402.1K
$351.9K – $469.2K
NOI $28,149 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$628.9K
$550.3K – $733.8K
NOI $44,025 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,399
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence combines two bedrooms and a full bathroom with connected living and dining areas.
Where is this triplex located?
The property is located at 83 Rockland St New Bedford, MA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Three residential units, each with two bedrooms and one full bathroom; Open‑plan layout in each unit, with kitchen, dining, and living areas; Built in 1886
