Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    513-515 Whipple St Fall River, MA 2724

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $950,000

    Spacious five-unit building with potential for increased rental income.

    Type:Investment
    Added:
    Apr 9, 2026
    Days on Market:
    11
    Last Refresh:
    Apr 9 at 7:16 am

    Property Features for 513-515 Whipple St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Jose Ferreira

    Listing agent Jose Ferreira

    Listing office

    Listing date Apr 9, 2026

    Source Elliman

    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 Jose Ferreira

    Overview

    Oversized Five-Family Building

    This oversized five-family building presents an opportunity for both owner-occupancy and investment. The property includes a large, townhouse-style three-bedroom unit spanning two levels, situated at the back of the building with a private entrance, offering space, comfort, and privacy. This unit is ideal for an owner-occupied residency, allowing the owner to collect rent from the four units in the front of the building to offset the mortgage. The property features two oversized three-bedroom units currently used as four-bedroom units, a townhouse three-bedroom unit, one one-bedroom unit currently used as a two-bedroom unit, and one smaller one-bedroom unit. All heating systems are located in the basement, and the property includes newer water heaters, coin-operated laundry, and ample off-street parking. The new commuter rail to Boston adds value to the location. The property is located in a very walkable area with a walk score of 86 and a bikeable area with a bike score of 67 and some transit with a transit score of 43.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fall River
    County
    Bristol
    State
    Massachusetts
    Longitude
    -71.1617844
    Latitude
    41.6901687

    Nearby Similar for Sale

    • $744,900
      3,207 SF

      Three-Family Home Near Business District

      Three-unit property in walkable neighborhood near Fall River's amenities.
      464 Birch St, Fall River, MA 02724
      View Details
    • $789,000
      3,437 SF

      Fall River Multi-Family Investment

      Investor-friendly three-family near park, generating rental income.
      27 Gagnon St, Fall River, MA 02723
      View Details
    • $699,900
      3,894 SF

      Spacious Fall River Multi-Family

      Updated 3-family with income potential, move-in ready units.
      194 Albion St, Fall River, MA 02723
      View Details
    • $945,000
      3,354 SF

      Updated Multifamily Property in Fall River

      Fully updated four-unit multifamily property near amenities and major routes.
      169 Grant St, Fall River, MA 02721
      View Details
    • $600,000
      2,757 SF

      Vacant Multi-Family in Fall River

      Three-family building with three bedrooms per unit, delivered vacant.
      493 Coggeshall, Fall River, MA 02721
      View Details
    • $399,000
      3,177 SF

      Three-Family Home Rehab Opportunity

      Three-family home near train depot and pier, needs complete rehab.
      154 Barnaby Street, Fall River, MA 02720
      View Details
    • $675,000
      3,798 SF

      Fall River Multifamily Investment Property

      Well-maintained four-unit property in Fall River's south end.
      158 Forest St, Fall River, MA 02721
      View Details
    • $450,000
      1,920 SF

      Move-in Ready Fall River Multifamily

      Two-unit multifamily home in Fall River, ideal for investors.
      232 Alden St, Fall River, MA 02723
      View Details
    • $479,900
      1,685 SF

      Renovated Two-Family Home, Vacant

      Renovated two-family home with modern style and versatile living spaces.
      658 Third, Fall River, MA 02721
      View Details
    • $799,900
      3,305 SF

      Renovated Multi-Family Property

      Extensively renovated three-family property with modern amenities and vacant possession.
      58 Downing St, Fall River, MA 02723
      View Details
    • $649,900
      3,802 SF

      Fall River Triplex with Expansion

      Three-unit property in Fall River with expansion potential.
      226 Haffards St, Fall River, MA 02723
      View Details
    • $799,000
      5,096 SF

      Turnkey 6-Family Investment Property

      Well-maintained 6-family in Fall River with income potential.
      201-203 Fourth St, Fall River, MA 02721
      View Details

    FAQs

    What type of property is this?
    Apartment building - Spacious five-unit building with potential for increased rental income.
    Where is this apartment building located?
    The property is located at 513-515 Whipple St Fall River, MA.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Oversized 5‑family building with potential for increased rental income.; Large, townhouse‑style 3‑bedroom owner‑occupancy unit with private entrance.; Opportunity to offset mortgage with four rental units.
    (617) 504-9583
    We can help!
    Listing Contact
    Jose Ferreira
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!