21 Salisbury St · New Bedford, MA 02744

$499,000

8 bd · 3.0 ba · 2,469 sqft · MultiFamily public records · 24 Days on market

Built 1893 3,319 sqft lot Est $570k · 13% under

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Why this score? — see what drove the B- 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 +22.3/30.0
• ARV discount +13.1/15.0
• Appreciation +8.3/10.0
• DSCR +7.1/10.0
• 1% rule +5.0/10.0
• Livability +3.4/5.0
• 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

*BUYERS FINANCING FELL THROUGH HERE'S YOUR CHANCE* - Come check out this well maintained and de-leaded 3 family with plenty of off-street parking. The first floor unit is vacant and has all the bells and whistles - updated kitchen with double wall ovens, refrigerator/freezer, wine cooler, counter top range, garbage disposal, updated bath and freshly painted walls. The second and third floor units feature two bedrooms and one bath, offering ample space for families of all sizes. Both units also feature rear balconies. All units have beautiful hardwood floors throughout. The home boasts an unfinished basement with 3 separate laundry hookups as well as an oversized storage shed that can be used to generate additional income. With prime location near Cisco Brewery and New Bedford’s East & West Beach, these units will always be in high demand. Whether you're looking for an owner occupied opportunity or long/short term tenants, this property has endless potential for generating rental income

Key facts

• Delead property
• Separate utilities
• Vinyl siding

Tags

• DELEAD PROPERTY
• SEPARATE UTILITIES
• VINYL SIDING
• OFF-STREET PARKING
• ADDITIONAL SHED STORAGE
• CONVENIENTLY LOCATED

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Paved drive; Off-street open parking for 4 cars
• Utilities: Public water; Public sewer; Electric service
• Home design: 3-family property; 3 stories; Approximate year built (public records)
• Construction: Conventional (2x4–2x6) construction; Stone foundation; Asphalt/composition shingle roof
• Exterior features: Level lot; Public road frontage; Shed(s)

Interior

• Kitchen: Range; Oven; Dishwasher; Microwave; Refrigerator; Wine refrigerator
• Flooring: Wood; Tile; Vinyl; Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating; Natural gas heating; Space heater; Window air conditioning units
• Interior features: Living room; Kitchen; Dining room; 17 total rooms

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $824 ($10k/yr) — positive. Per door: $275/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $499k).
• Recommended offer: $492k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.8% in New Bedford — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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-, schools D, employment D.
• 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.
• Market conditions: 22 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).
• At $5,009/mo this rent would consume 102% of the median local household income ($59k/yr) (locally 811% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $37k of equity ($3k loan paydown + $33k 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 $140k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y 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.

Risks & watch-outs

• Watch-outs: built in 1893 — 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 $491,515 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.00% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.07%
• DSCR: 1.31
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $570,339
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Katherine St	0.55mi	8/3.0	2,400 (-3%)	1mo	$580,000	$242	68
86 Mosher St	0.53mi	8/3.0	2,636 (+7%)	15mo	$600,000	$228	52
54 Rivet St	0.49mi	8/4.0	2,598 (+5%)	17mo	$600,000	$231	50
179 Division St	0.51mi	9/3.0 (+1)	2,306 (-7%)	19mo	$512,000	$222	44

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: 22.6%
• Equity multiple: 2.55×
• Total profit: $216,104
• Equity at exit: $334,635

10-year hold

• IRR: 21.2%
• Equity multiple: 5.22×
• Total profit: $589,939
• Equity at exit: $625,797

Cash invested: $139,720 (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: 22
• Price-to-rent: 24.9×

Monthly cashflow live

• Estimated rent: $5,009 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$309 /mo · $3,704/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,052
• Net cashflow: $824

Break-even live

Break-even rent $3,966

Max offer price $499,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,010
Total (3 units)			$5,009

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $499,000 Active 24 DOM
2. 2026-06-17
   days on market $499,000 Active 23 DOM
3. 2026-06-16
   days on market $499,000 Active 22 DOM
4. 2026-06-15
   days on market $499,000 Active 21 DOM
5. 2026-06-13
   days on market $499,000 Active 19 DOM
6. 2026-06-09
   days on market $499,000 Active 15 DOM
7. 2026-06-08
   days on market $499,000 Active 14 DOM
8. 2026-06-07
   days on market $499,000 Active 13 DOM
9. 2026-06-05
   days on market $499,000 Active 10 DOM
10. 2026-06-03
    days on market $499,000 Active 9 DOM
11. 2026-06-02
    days on market $499,000 Active 8 DOM
12. 2026-06-01
    days on market $499,000 Active 7 DOM
13. 2026-05-31
    days on market $499,000 Active 6 DOM
14. 2026-05-25
    listed $499,000 New
15. 2023-11-01
    soldstatus $527,000 Sold 1010-char remark

    Show marketing remark (1010 chars)

    *BUYERS FINANCING FELL THROUGH HERE'S YOUR CHANCE* - Come check out this well maintained and de-leaded 3 family with plenty of off-street parking. The first floor unit is vacant and has all the bells and whistles - updated kitchen with double wall ovens, refrigerator/freezer, wine cooler, counter top range, garbage disposal, updated bath and freshly painted walls. The second and third floor units feature two bedrooms and one bath, offering ample space for families of all sizes. Both units also feature rear balconies. All units have beautiful hardwood floors throughout. The home boasts an unfinished basement with 3 separate laundry hookups as well as an oversized storage shed that can be used to generate additional income. With prime location near Cisco Brewery and New Bedford’s East & West Beach, these units will always be in high demand. Whether you're looking for an owner occupied opportunity or long/short term tenants, this property has endless potential for generating rental income

16. 2023-09-28
    status Under Agreement 1010-char remark

    Show marketing remark (1010 chars)

    *BUYERS FINANCING FELL THROUGH HERE'S YOUR CHANCE* - Come check out this well maintained and de-leaded 3 family with plenty of off-street parking. The first floor unit is vacant and has all the bells and whistles - updated kitchen with double wall ovens, refrigerator/freezer, wine cooler, counter top range, garbage disposal, updated bath and freshly painted walls. The second and third floor units feature two bedrooms and one bath, offering ample space for families of all sizes. Both units also feature rear balconies. All units have beautiful hardwood floors throughout. The home boasts an unfinished basement with 3 separate laundry hookups as well as an oversized storage shed that can be used to generate additional income. With prime location near Cisco Brewery and New Bedford’s East & West Beach, these units will always be in high demand. Whether you're looking for an owner occupied opportunity or long/short term tenants, this property has endless potential for generating rental income

17. 2023-09-14
    historical Contingent 1010-char remark

    Show marketing remark (1010 chars)

    *BUYERS FINANCING FELL THROUGH HERE'S YOUR CHANCE* - Come check out this well maintained and de-leaded 3 family with plenty of off-street parking. The first floor unit is vacant and has all the bells and whistles - updated kitchen with double wall ovens, refrigerator/freezer, wine cooler, counter top range, garbage disposal, updated bath and freshly painted walls. The second and third floor units feature two bedrooms and one bath, offering ample space for families of all sizes. Both units also feature rear balconies. All units have beautiful hardwood floors throughout. The home boasts an unfinished basement with 3 separate laundry hookups as well as an oversized storage shed that can be used to generate additional income. With prime location near Cisco Brewery and New Bedford’s East & West Beach, these units will always be in high demand. Whether you're looking for an owner occupied opportunity or long/short term tenants, this property has endless potential for generating rental income

18. 2023-09-01
    status Back On Market 1010-char remark

    Show marketing remark (1010 chars)

    *BUYERS FINANCING FELL THROUGH HERE'S YOUR CHANCE* - Come check out this well maintained and de-leaded 3 family with plenty of off-street parking. The first floor unit is vacant and has all the bells and whistles - updated kitchen with double wall ovens, refrigerator/freezer, wine cooler, counter top range, garbage disposal, updated bath and freshly painted walls. The second and third floor units feature two bedrooms and one bath, offering ample space for families of all sizes. Both units also feature rear balconies. All units have beautiful hardwood floors throughout. The home boasts an unfinished basement with 3 separate laundry hookups as well as an oversized storage shed that can be used to generate additional income. With prime location near Cisco Brewery and New Bedford’s East & West Beach, these units will always be in high demand. Whether you're looking for an owner occupied opportunity or long/short term tenants, this property has endless potential for generating rental income

19. 2023-06-24
    status Under Agreement 1010-char remark

    Show marketing remark (1010 chars)

    *BUYERS FINANCING FELL THROUGH HERE'S YOUR CHANCE* - Come check out this well maintained and de-leaded 3 family with plenty of off-street parking. The first floor unit is vacant and has all the bells and whistles - updated kitchen with double wall ovens, refrigerator/freezer, wine cooler, counter top range, garbage disposal, updated bath and freshly painted walls. The second and third floor units feature two bedrooms and one bath, offering ample space for families of all sizes. Both units also feature rear balconies. All units have beautiful hardwood floors throughout. The home boasts an unfinished basement with 3 separate laundry hookups as well as an oversized storage shed that can be used to generate additional income. With prime location near Cisco Brewery and New Bedford’s East & West Beach, these units will always be in high demand. Whether you're looking for an owner occupied opportunity or long/short term tenants, this property has endless potential for generating rental income

20. 2023-06-07
    listed $510,000 New 1010-char remark

    Show marketing remark (1010 chars)

    *BUYERS FINANCING FELL THROUGH HERE'S YOUR CHANCE* - Come check out this well maintained and de-leaded 3 family with plenty of off-street parking. The first floor unit is vacant and has all the bells and whistles - updated kitchen with double wall ovens, refrigerator/freezer, wine cooler, counter top range, garbage disposal, updated bath and freshly painted walls. The second and third floor units feature two bedrooms and one bath, offering ample space for families of all sizes. Both units also feature rear balconies. All units have beautiful hardwood floors throughout. The home boasts an unfinished basement with 3 separate laundry hookups as well as an oversized storage shed that can be used to generate additional income. With prime location near Cisco Brewery and New Bedford’s East & West Beach, these units will always be in high demand. Whether you're looking for an owner occupied opportunity or long/short term tenants, this property has endless potential for generating rental income

21. 1997-02-19
    soldstatus $43,500 120-char remark

    Show marketing remark (120 chars)

    SPECIAL FINANCING AVAILABLE FOR OWNER OCCUPANTS OR INVESTORS . VINYL SIDED. 1ST FLOOR RENOVATED. 2ND & 3RD NEED WORK

22. 1997-02-18
    soldstatus $43,500
23. 1997-02-04
    soldstatus $35,000
24. 1996-09-12
    listed $45,500 120-char remark

    Show marketing remark (120 chars)

    SPECIAL FINANCING AVAILABLE FOR OWNER OCCUPANTS OR INVESTORS . VINYL SIDED. 1ST FLOOR RENOVATED. 2ND & 3RD NEED WORK

25. 1990-03-01
    soldstatus $112,000

ⓘ 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: $3,704 · $309/mo
• Projected year-2 tax: $4,921 · $410/mo
• Expected delta: +$1,217/yr (+$101/mo · 32.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $60,108
• − Mortgage interest: −$27,952
• − Property taxes: −$3,704
• − Insurance: −$2,495
• − Repairs & maintenance: −$4,809
• − Management: −$4,809
• − Depreciation: −$14,516
• Taxable income: $1,824
• Est. tax owed @ 24.0%: −$438
• After-tax cash flow: $9,447/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

+345.5% since first listed

12 events — show timeline

• 2026-05-25 Listed $499,000 MLS PIN
• 2023-11-01 Sold (MLS) $527,000 MLS PIN
• 2023-09-28 Pending — MLS PIN
• 2023-09-14 Contingent — MLS PIN
• 2023-09-01 Relisted — MLS PIN
• 2023-06-24 Pending — MLS PIN
• 2023-06-07 Listed $510,000 MLS PIN
• 1997-02-19 Sold (MLS) $43,500 MLS PIN
• 1997-02-18 Sold (Public Records) $43,500 Public Records
• 1997-02-04 Sold (Public Records) $35,000 Public Records
• 1996-09-12 Listed $45,500 MLS PIN
• 1990-03-01 Sold (Public Records) $112,000 Public Records

Property tax history

+3.0%/yr

Latest (2023): $3,704 · +12.8% YoY. Source: county tax records.