Three-Unit Multifamily
For Sale
$679,900
Pending
85 Jouvette St, New Bedford, MA 02744
Residential Income, New Bedford, MA
Property Size3,730 SF
Lot Size0.08 Acres
Days on Market28
Property Features for 85 Jouvette St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 8, Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 9, Bathroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1
Parking
4
Directions
please use GPS
Subdivision
South End
Standard status
Pending
APN
M:0020 L:0235,2885373
Size
3,730 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5732
Amenities
full basement
Building Details
Year built
1907
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Aug 4
Changed: Aug 27
Last Checked: Aug 31 at 8:06PM
MLS# 73558916
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.
Built in 1907, this three-unit residential property contains 3,730 square feet arranged across nine bedrooms and three full bathrooms. The apartments provide substantial living areas, while a full basement adds storage capacity. The first-floor unit is expected to be vacant at delivery, giving a purchaser flexibility to occupy it or establish a new tenancy. Off-street parking is included, an important practical feature for a multifamily asset. The property sits on a 0.0784-acre lot and carries RC zoning. Its three-apartment configuration supports both investment ownership and an owner-occupancy approach, subject to applicable requirements.
Key Highlights
- Three apartments with 9 bedrooms and 3 full bathrooms
- 3,730 square feet on a 0.0784‑acre lot
- First‑floor apartment 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 - First-floor occupancy will be open at closing, with off-street parking and basement storage adding practical utility.
Where is this triplex located?
The property is located at 85 Jouvette St 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 apartments with 9 bedrooms and 3 full bathrooms; 3,730 square feet on a 0.0784‑acre lot; First‑floor apartment delivered vacant
