Spacious Three-Unit
For Sale
$679,900
85 Jouvette Street, New Bedford, MA 02744
Three separate apartments provide flexible occupancy for an owner-user or multifamily investor.
Property Size3,730 SF
Price / SF$182.28
Days on Market11
Property Features for 85 Jouvette Street
General Information
Standard status
Active
Size
3,730 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1907
Listing Agency:
RE/MAX Vantage
Listed By:
Bessy Rivas
(617) 875-4950
Source:
Sarkisboston
Added: Aug 2
Changed: Aug 11
Last Checked: Aug 11 at 10:27AM
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 three-unit residential property contains 3,730 square feet with a combined 9 bedrooms and 3 full bathrooms. The apartments are arranged as separate living spaces, and the first-floor unit is expected to be vacant at closing for owner occupancy or new tenant placement. A full basement adds storage capacity, while off-street parking supports the property’s residential configuration. Built in 1907, the building offers an established multifamily format with substantial unit layouts and three distinct apartments.
Key Highlights
- Three‑unit property with 3,730 square feet
- Combined total of 9 bedrooms and 3 full bathrooms
- First‑floor apartment to be delivered vacant
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
$53,617
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
7.89%
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%
$1,072,340
$1.1M
Cap Rate 7%
$765,957
$766.0K
Cap Rate 9%
$595,744
$595.7K
Market Conditions
NOI Build-Up for 3,730 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
$82.8K $22.20/SF
− Vacancy
−$6.2K −$1.67/SF
EGI
$76.6K $20.54/SF
− OpEx
−$23.0K −$6.16/SF
NOI
$53.6K $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%
$1,072,340
Cap Rate 7%
$765,957
Cap Rate 9%
$595,744
Alternative Uses
Best Use
Multifamily LT 5
$766.0K
$670.2K – $893.6K
NOI $53,617 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$703.2K
$615.3K – $820.4K
NOI $49,224 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$1.10M
$962.3K – $1.28M
NOI $76,987 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
961
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments provide flexible occupancy for an owner-user or multifamily investor.
Where is this triplex located?
The property is located at 85 Jouvette Street New Bedford, MA.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Three‑unit property with 3,730 square feet; Combined total of 9 bedrooms and 3 full bathrooms; First‑floor apartment to be delivered vacant
