37 Jouvette St · New Bedford, MA 02744

$579,000

7 bd · 3.0 ba · 2,689 sqft · MultiFamily public records · 95 Days on market

Built 1924 2,749 sqft lot $215/sqft · 5% above area Est $525k · 10% over

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.3/30.0
• Appreciation +8.3/10.0
• DSCR +4.7/10.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• ARV discount +2.8/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Great investment opportunity in a prime New Bedford location! This well-maintained three-family home offers off-street parking and features three units, each with a similar layout including two bedrooms, a spacious living room, a dining room, a kitchen, and a full bath—ideal for both owner-occupants and investors alike. The exterior boasts a fenced-in yard with a patio, perfect for outdoor enjoyment, along with a paved driveway for added convenience. Don’t miss your chance to own a versatile multi-family property in a desirable area!

Key facts

• Paved driveway
• Off-street parking
• Fenced-in yard

Tags

• PRIME NEW BEDFORD LOCATION
• OFF-STREET PARKING
• FENCED-IN YARD
• PAVED DRIVEWAY
• MULTI-FAMILY PROPERTY

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $579k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive. Per door: $72/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $482k (16.7% below list).
• Recommended offer: $482k (16.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#155 in MA) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+; Watch: cost of living C-, employment D, amenities F.
• New Bedford (suburban): math 17% / reading 28% proficiency, ranked #287 of 302 in MA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John B Devalles (math 17% / reading 27%, grade F, #757 of 938 statewide, top 82%, 304 students, 0% FRL); Roosevelt Middle School (math 11% / reading 20%, grade F, #273 of 305 statewide, top 89%, 778 students, 0% FRL); New Bedford High (math 13% / reading 25%, grade F, #313 of 343 statewide, top 92%, 2,898 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 24 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).

Forward outlook

• In year one you build about $43k of equity ($4k loan paydown + $39k appreciation (6.7% local appreciation)).
• Bristol County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $162k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($527k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $205k; list at $579k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $482,200 (16.7% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 10.0

CMA / ARV

• ARV (median comp): $524,545
• List price: $579,000
• Delta: 10.38%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 Division St	0.05mi	6/3.0 (-1)	2,828 (+5%)	11mo	$565,000	$200	75
33 Crapo St	0.43mi	6/3.0 (-1)	2,691 (+0%)	0mo	$645,000	$240	74
45 Katherine St	0.16mi	8/3.0 (+1)	2,400 (-11%)	1mo	$580,000	$242	68
230 Frank St	0.67mi	8/3.0 (+1)	2,735 (+2%)	1mo	$599,000	$219	60
276 Hemlock St	0.62mi	8/3.0 (+1)	2,720 (+1%)	6mo	$620,000	$228	59
531 Rivet St	0.56mi	6/3.0 (-1)	2,750 (+2%)	10mo	$570,000	$207	57
1 Sylvia Ct	0.29mi	6/3.0 (-1)	2,360 (-12%)	7mo	$530,000	$225	56
27-29 Larch	0.42mi	8/3.0 (+1)	3,003 (+12%)	13mo	$675,000	$225	45
67 Roosevelt	0.58mi	8/3.0 (+1)	3,033 (+13%)	4mo	$500,000	$165	43
117 Grinnell St	0.58mi	6/3.0 (-1)	2,421 (-10%)	12mo	$527,000	$218	41
17 Norwell St	0.75mi	6/2.0 (-1)	2,344 (-13%)	1mo	$649,000	$277	34
81 Willard St	0.74mi	6/2.0 (-1)	2,356 (-12%)	12mo	$562,000	$239	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 2.26×
• Total profit: $203,668
• Equity at exit: $388,283

10-year hold

• IRR: 17.5%
• Equity multiple: 4.59×
• Total profit: $582,780
• Equity at exit: $726,126

Cash invested: $162,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 02744

• Home prices YoY: 1.6%
• Active inventory: 24
• Price-to-rent: 30.0×

Monthly cashflow live

• Estimated rent: $4,822 high
• Mortgage (P&I): −$3,036
• Tax from tax record: −$315 /mo · $3,775/yr
• Insurance: −$241
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,013
• Net cashflow: $217

Break-even live

Break-even rent $4,547

Max offer price $579,000

Occupancy floor 90%

Sensitivity live

Price	-10% $545	-5% $381	+0% $217	+5% $53	+10% $-111
Rent	-10% $-164	-5% $27	+0% $217	+5% $408	+10% $598
Rate	-1.0pp $509	-0.5pp $364	base $217	+0.5pp $67	+1.0pp $-85

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,821
Total (3 units)			$4,822

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $144,750
• Closing costs: $17,370
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $579,000 Active 95 DOM
2. 2026-06-18
   days on market $579,000 Active 92 DOM
3. 2026-06-17
   days on market $579,000 Active 91 DOM
4. 2026-06-16
   days on market $579,000 Active 90 DOM
5. 2026-06-15
   days on market $579,000 Active 89 DOM
6. 2026-06-13
   days on market $579,000 Active 87 DOM
7. 2026-06-09
   days on market $579,000 Active 83 DOM
8. 2026-06-08
   days on market $579,000 Active 82 DOM
9. 2026-06-07
   days on market $579,000 Active 81 DOM
10. 2026-06-05
    days on market $579,000 Active 78 DOM
11. 2026-06-03
    days on market $579,000 Active 77 DOM
12. 2026-06-02
    days on market $579,000 Active 76 DOM
13. 2026-06-01
    days on market $579,000 Active 75 DOM
14. 2026-05-31
    days on market $579,000 Active 74 DOM
15. 2026-04-28
    price $579,000 551-char remark

    Show marketing remark (551 chars)

    Great investment opportunity in a prime New Bedford location! This well-maintained three-family home offers off-street parking and features three units, each with a similar layout including two bedrooms, a spacious living room, a dining room, a kitchen, and a full bath—ideal for both owner-occupants and investors alike. The exterior boasts a fenced-in yard with a patio, perfect for outdoor enjoyment, along with a paved driveway for added convenience. Don’t miss your chance to own a versatile multi-family property in a desirable area!

16. 2026-03-18
    listed $599,000 New 551-char remark

    Show marketing remark (551 chars)

    Great investment opportunity in a prime New Bedford location! This well-maintained three-family home offers off-street parking and features three units, each with a similar layout including two bedrooms, a spacious living room, a dining room, a kitchen, and a full bath—ideal for both owner-occupants and investors alike. The exterior boasts a fenced-in yard with a patio, perfect for outdoor enjoyment, along with a paved driveway for added convenience. Don’t miss your chance to own a versatile multi-family property in a desirable area!

17. 2018-07-18
    soldstatus $204,900 Sold 139-char remark

    Show marketing remark (139 chars)

    Nice 3 family 1st and 2nd floor have been recently remodeled, with updated baths, and kitchens. Seller to put a new roof on. Easy to show.

18. 2018-05-21
    status Under Agreement 139-char remark

    Show marketing remark (139 chars)

    Nice 3 family 1st and 2nd floor have been recently remodeled, with updated baths, and kitchens. Seller to put a new roof on. Easy to show.

19. 2018-05-14
    listed $209,900 New 139-char remark

    Show marketing remark (139 chars)

    Nice 3 family 1st and 2nd floor have been recently remodeled, with updated baths, and kitchens. Seller to put a new roof on. Easy to show.

20. 2001-06-15
    soldstatus $104,000
21. 2001-04-02
    soldstatus $104,000
22. 2001-03-07
    historical
23. 2001-02-01
    listed $104,900
24. 1999-07-28
    soldstatus $72,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $3,775 · $315/mo
• Projected year-2 tax: $5,448 · $454/mo
• Expected delta: +$1,673/yr (+$139/mo · 44.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,864
• − Mortgage interest: −$32,433
• − Property taxes: −$3,775
• − Insurance: −$2,895
• − Repairs & maintenance: −$4,629
• − Management: −$4,629
• − Depreciation: −$16,844
• Taxable loss: −$7,341
• Est. tax savings @ 24.0%: +$1,762
• After-tax cash flow: $4,368/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: New Bedford
• NCES district ID: 2508430
• Math proficiency: 17% ▼ -14.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $37,901
• Composite: 18.79/100
• National rank: #8869
• State rank: #287 of 302 in MA

Livability — New Bedford

• Score: 67/100
• State rank: #155
• US rank: #10150

Category grades

Amenities F Commute F Cost of living C- Crime C Employment D Housing B+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Bedford, MA
• County: Bristol County · 342,083 people
• City population: 76,528
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 12,716
• Household income: $58,675
• Rent vs Own: 65.6% rent · 34.4% own
• Severe rent burden: 811.0

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 570,212 people
• By 2030: 571,181 · +0.2%
• By 2040: 565,389 · -0.8%
• By 2050: 552,141 · -3.2%
• By 2075: 520,923 · -8.6%
• By 2100: 474,363 · -16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 27% Two or more races 20% Black 4%
• Hispanic origin (detail): Puerto Rican 17% Dominican 2%
• Common ancestry: Russian 34% Lithuanian 5% Romanian 3%
• Foreign-born: 24% · Canada
• Languages at home: 57% English-only · Other Indo-European 22% Spanish 17% French/Haitian/Cajun 3%

Political lean MEDSL · Bristol

• 2024 margin: Toss-up / Even · D 49.8% · R 48.5% · Other 1.8%
• 2008→2024 swing: -21.9pp toward R · 2008: 23.2pp · 2024: 1.3pp
• All cycles: 2024: D+1.3 2020: D+12.0 2016: D+9.3 2012: D+20.5 2008: D+23.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.66%
• Current HPI: 417.5735
• Rent YoY: —
• Metro: Providence-Warwick, RI-MA
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

+704.2% since first listed

10 events — show timeline

• 2026-04-28 Price Changed $579,000 MLS PIN
• 2026-03-18 Listed $599,000 MLS PIN
• 2018-07-18 Sold (MLS) $204,900 MLS PIN
• 2018-05-21 Pending — MLS PIN
• 2018-05-14 Listed $209,900 MLS PIN
• 2001-06-15 Sold (MLS) $104,000 MLS PIN
• 2001-04-02 Sold (Public Records) $104,000 Public Records
• 2001-03-07 Listing Removed — MLS PIN
• 2001-02-01 Listed $104,900 MLS PIN
• 1999-07-28 Sold (Public Records) $72,000 Public Records

Property tax history

+3.0%/yr

Latest (2023): $3,775 · +12.5% YoY. Source: county tax records.