Private Three-Family Property For
For Sale
$719,900
Pending
302 Cory St, Fall River, MA 02720
Three-family property with parking and easy access to amenities.
Property Size3,851 SF
Lot Size0.35 Acres
Days on Market270
Property Features for 302 Cory St
General Information
Standard status
Pending
Size
3,851 SF
Lot size
0.35 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,412
Building Details
Building Size
3,851 SF
Year Built
1900
Stories
3
Units
3
Listing Agency:
(508) 989-5133
Listed By:
Gilbert C Oliveira · License #450500102
(508) 989-5133
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 22
Last Checked: Aug 24 at 6:16AM
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 Gilbert C Oliveira
Investment Insights
Based on property information with market context.
This three-family property features large double parlors and three-bedroom units. The second-floor unit's third bedroom has been converted into a kitchen. The building has vinyl siding and hardwood flooring. There is additional parking available for up to 10 cars, which could be rented to area tenants. Located in the north end of Fall River, the property offers convenient access to schools, bus routes, and the new MBTA train station, as well as Route 24. Please see the updated plot plan for property lines.
Key Highlights
- Large 3‑family property offering immediate rental income potential.
- Ample parking space for 10 vehicles, creating additional income opportunities.
- Hardwood flooring throughout the units.
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
$63,958
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
8.88%
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%
$1,279,160
$1.3M
Cap Rate 7%
$913,686
$913.7K
Cap Rate 9%
$710,644
$710.6K
Market Conditions
NOI Build-Up for 3,851 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
$124.8K $32.40/SF
− Vacancy
−$8.5K −$2.20/SF
EGI
$116.3K $30.20/SF
− OpEx
−$52.3K −$13.59/SF
NOI
$64.0K $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%
$1,279,160
Cap Rate 7%
$913,686
Cap Rate 9%
$710,644
Alternative Uses
Best Use
Multifamily LT 5
$983.2K
$860.3K – $1.15M
NOI $68,821 @ 7.0% cap · market cap 9.56%
Second Best
Apartment 5plus
$913.7K
$799.5K – $1.07M
NOI $63,958 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,164 @ 7.0% cap · market cap 22.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,056
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with parking and easy access to amenities.
Where is this triplex located?
The property is located at 302 Cory St Fall River, MA.
What is the asking price?
The asking price for this property is $719,900.
What are key features of this property?
This property features: Large 3‑family property offering immediate rental income potential.; Ample parking space for 10 vehicles, creating additional income opportunities.; Hardwood flooring throughout the units.
