Renovated 3-Family Income
For Sale
$729,000
118 Maple St, Fall River, MA 02720
Renovated 3-unit home with coin-operated laundry, street parking, and a driveway accommodating up to six vehicles.
Property Size3,764 SF
Price / SF$193.68
Days on Market199
Property Features for 118 Maple St
General Information
Standard status
Active
Size
3,764 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
G
Occupancy
100%
Net Operating Income
$63,000
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,896
Building Details
Building Size
3,764 SF
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Boston
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Feb 28
Changed: Sep 4
Last Checked: Sep 14 at 7:22AM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
Welcome to this beautifully renovated 3-family home in Fall River’s Lower Highlands. The property is described as a turnkey, income-producing residence with thoughtful renovations that blend modern updates with classic character. Coin-operated laundry is available on-site, supporting convenient resident use.
The home is positioned to provide harbor views and is located near area amenities and access points, including scenic walking and biking trails, the boardwalk, parks, major highways, and the train station. Additional parking includes ample street parking plus a spacious driveway that can accommodate up to six vehicles.
This listing is back on the market due to a buyer’s financing. The offering includes a residential income structure comprising three units within a fully renovated package.
The home is positioned to provide harbor views and is located near area amenities and access points, including scenic walking and biking trails, the boardwalk, parks, major highways, and the train station. Additional parking includes ample street parking plus a spacious driveway that can accommodate up to six vehicles.
This listing is back on the market due to a buyer’s financing. The offering includes a residential income structure comprising three units within a fully renovated package.
Key Highlights
- Renovated 3‑family home built in 1900
- Coin‑operated laundry on‑site
- Street parking plus a spacious driveway that accommodates up to six vehicles
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
$62,513
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
8.58%
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%
$1,250,260
$1.3M
Cap Rate 7%
$893,043
$893.0K
Cap Rate 9%
$694,589
$694.6K
Market Conditions
NOI Build-Up for 3,764 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
$122.0K $32.40/SF
− Vacancy
−$8.3K −$2.20/SF
EGI
$113.7K $30.20/SF
− OpEx
−$51.1K −$13.59/SF
NOI
$62.5K $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%
$1,250,260
Cap Rate 7%
$893,043
Cap Rate 9%
$694,589
Alternative Uses
Best Use
Multifamily LT 5
$960.9K
$840.8K – $1.12M
NOI $67,266 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$893.0K
$781.4K – $1.04M
NOI $62,513 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$2.29M
$2.01M – $2.67M
NOI $160,455 @ 7.0% cap · market cap 22.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,706
Businesses Nearby
Explore this area
Business Placement
Demographics for 02720, MA
31,209
Population
14,940
Households
2.1
Avg Household Size
41
Median Age
21%
College-Educated
81%
High-School Grad
13.2 sq mi
ZIP Area
2,364
Density / Sq Mi
$62,907
Median Household Income
$45,199
Median Earnings
$1,177
Median Rent
$361,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated 3-unit home with coin-operated laundry, street parking, and a driveway accommodating up to six vehicles.
Where is this triplex located?
The property is located at 118 Maple St Fall River, MA.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Renovated 3‑family home built in 1900; Coin‑operated laundry on‑site; Street parking plus a spacious driveway that accommodates up to six vehicles
