Updated Duplex with Detached
For Sale
$685,000
74 California St, Fall River, MA 02723
Residential Income, Fall River, MA
Property Size2,391 SF
Lot Size0.14 Acres
Price / SF$286.49
Days on Market62
Property Features for 74 California St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
S
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 6, Bedroom 1, Bedroom 4
Parking
8
Directions
Please use GPS
Standard status
Active
APN
M:0J08 B:0000 L:0017,2828967
Size
2,391 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4839
Amenities
enclosed front porch
balcony
deck
full basement
laundry hook ups
detached garage
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Jul 15
Changed: Sep 13
Last Checked: Sep 14 at 7:06AM
MLS# 73550010
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.
This 1925 duplex offers 2,391 square feet of residential space across a two-family configuration, with both units to be delivered vacant. The property includes an enclosed front porch, balcony, two decks, and a finished third floor arranged with a bedroom, full bathroom, half bath, living area, and built-in desk. A full basement provides storage space, laundry hookups, and direct access to the backyard.
The 0.1434-acre property also features a long driveway, off-street parking, and a detached garage. The second and third levels have been extensively updated, and a new roof was installed in 2023. Located in Fall River, Massachusetts, the property is zoned S and includes six bedrooms and three bathrooms.
The 0.1434-acre property also features a long driveway, off-street parking, and a detached garage. The second and third levels have been extensively updated, and a new roof was installed in 2023. Located in Fall River, Massachusetts, the property is zoned S and includes six bedrooms and three bathrooms.
Key Highlights
- Two‑family property delivered completely vacant
- 2,391 square feet on a 0.1434‑acre lot
- Finished third floor with bedroom, full bath, half bath, living area, and built‑in desk
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
$42,730
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
6.24%
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%
$854,600
$854.6K
Cap Rate 7%
$610,429
$610.4K
Cap Rate 9%
$474,778
$474.8K
Market Conditions
NOI Build-Up for 2,391 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
$66.0K $27.60/SF
− Vacancy
−$4.9K −$2.07/SF
EGI
$61.0K $25.53/SF
− OpEx
−$18.3K −$7.66/SF
NOI
$42.7K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /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%
$854,600
Cap Rate 7%
$610,429
Cap Rate 9%
$474,778
Alternative Uses
Best Use
Multifamily LT 5
$610.4K
$534.1K – $712.2K
NOI $42,730 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$567.3K
$496.4K – $661.8K
NOI $39,710 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,925 @ 7.0% cap · market cap 14.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Explore this area
Business Placement
Demographics for 02723, MA
16,084
Population
7,976
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
10,053
Density / Sq Mi
$41,789
Median Household Income
$40,140
Median Earnings
$1,058
Median Rent
$312,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-family property with a finished third-floor layout, multiple outdoor areas, and off-street parking.
Where is this duplex located?
The property is located at 74 California St Fall River, MA.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Two‑family property delivered completely vacant; 2,391 square feet on a 0.1434‑acre lot; Finished third floor with bedroom, full bath, half bath, living area, and built‑in desk
