Renovated Multifamily Property For
For Sale
$1,300,000
1153 1157 Slade, Fall River, MA 02721
Six-unit multifamily property renovated in 2013, ideal for investors.
Property Size6,882 SF
Days on Market110
Property Features for 1153 1157 Slade
General Information
Standard status
Active
Size
6,882 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$10,083
Building Details
Building Size
6,882 SF
Year Built
1900
Stories
5
Units
6
Listing Agency:
Keller Williams South Watuppa
(774) 245-1104
Listed By:
Cindy Ferry · License #9067567
(774) 245-1104
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 10 at 5:58AM
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 Keller Williams South Watuppa
Investment Insights
Based on property information with market context.
This six-family property was completely renovated in 2013, including plumbing, heating, electrical, and roof. Three of the units feature two to three bedrooms, while the remaining three units have one to two bedrooms. All units have separate heating systems; three are five years old, and one is thirteen years old. Each unit's electrical is separately metered with 100 AMP breakers. The property is equipped with a full sprinkler system, including sprinklers in every room, smoke detectors with an alarm panel connected directly to the fire department, and heat sensors in each apartment. Each unit has its own separate storage area in the basement, along with six laundry hookups. There are four off-street parking spots and a small backyard. This property is suitable for investors and is move-in ready. All tenants are tenants at will. The property has a bike score of 67, indicating it is bikeable, a walk score of 86, indicating it is very walkable, and a transit score of 43, indicating some transit options are available.
Key Highlights
- Completely renovated in 2013 including plumbing, heating, electrical, and roof.
- Six units with a mix of 1‑3 bedrooms, offering diverse rental options.
- Separate heating systems and separately metered electrical for each unit.
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
$114,298
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
8.79%
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%
$2,285,960
$2.3M
Cap Rate 7%
$1,632,829
$1.6M
Cap Rate 9%
$1,269,978
$1.3M
Market Conditions
NOI Build-Up for 6,882 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
$223.0K $32.40/SF
− Vacancy
−$15.2K −$2.20/SF
EGI
$207.8K $30.20/SF
− OpEx
−$93.5K −$13.59/SF
NOI
$114.3K $16.61/SF
Area
Bristol County, MA
Vacancy
6.80%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,285,960
Cap Rate 7%
$1,632,829
Cap Rate 9%
$1,269,978
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,298 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M
NOI $293,371 @ 7.0% cap · market cap 22.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
Demographics for 02721, MA
28,075
Population
12,358
Households
2.3
Avg Household Size
38
Median Age
15%
College-Educated
73%
High-School Grad
4.0 sq mi
ZIP Area
7,019
Density / Sq Mi
$50,666
Median Household Income
$40,315
Median Earnings
$1,010
Median Rent
$362,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property renovated in 2013, ideal for investors.
Where is this apartment building located?
The property is located at 1153 1157 Slade Fall River, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Completely renovated in 2013 including plumbing, heating, electrical, and roof.; Six units with a mix of 1‑3 bedrooms, offering diverse rental options.; Separate heating systems and separately metered electrical for each unit.
