Two-Family Residential Income
For Sale
$625,000
Pending
28 Wingold Street, Fall River, MA 02723
Two 2-bedroom units with separate living and dining areas, hardwood floors, and updated 200-amp electrical service.
Property Size2,238 SF
Days on Market49
Property Features for 28 Wingold Street
General Information
Standard status
Pending
Size
2,238 SF
Total Parking Spaces
6
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Keller Williams Elite
(857) 269-0484
Listed By:
Brian O'Connell
(857) 269-0484
Source:
Lockandkeyre
Added: Jul 8
Changed: Aug 8
Last Checked: Aug 14 at 8:59AM
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 Elite
Investment Insights
Based on property information with market context.
This solidly built two-family home is delivered vacant at closing and offers two separate units, each with two bedrooms, a full bath, living room, dining room, and kitchen. Hardwood floors run throughout both units, and heating is provided by steam heat on two gas zones. The home’s electrical system has been fully updated to 200 amps, and a monitored ADT alarm remains with the property. Washer/dryer units are also included.
Set on a quiet dead-end street just off Route 24, the property provides easy highway access while maintaining a low-traffic setting. Exterior improvements include vinyl siding, with a full basement and covered porch adding additional storage and outdoor space.
The property includes a workbench garage and an 8x14 motorcycle shed for extra storage, along with six off-street parking spaces on a paved driveway.
Set on a quiet dead-end street just off Route 24, the property provides easy highway access while maintaining a low-traffic setting. Exterior improvements include vinyl siding, with a full basement and covered porch adding additional storage and outdoor space.
The property includes a workbench garage and an 8x14 motorcycle shed for extra storage, along with six off-street parking spaces on a paved driveway.
Key Highlights
- Two‑family home built in 1920 with two 2‑bedroom units
- Each unit includes a full bath, living room, dining room, and kitchen with hardwood floors
- Steam heat on two gas zones
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
$39,995
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
6.40%
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%
$799,900
$799.9K
Cap Rate 7%
$571,357
$571.4K
Cap Rate 9%
$444,389
$444.4K
Market Conditions
NOI Build-Up for 2,238 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
$61.8K $27.60/SF
− Vacancy
−$4.6K −$2.07/SF
EGI
$57.1K $25.53/SF
− OpEx
−$17.1K −$7.66/SF
NOI
$40.0K $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%
$799,900
Cap Rate 7%
$571,357
Cap Rate 9%
$444,389
Alternative Uses
Best Use
Multifamily LT 5
$571.4K
$499.9K – $666.6K
NOI $39,995 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$531.0K
$464.6K – $619.5K
NOI $37,169 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,403 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
177
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
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 - Two 2-bedroom units with separate living and dining areas, hardwood floors, and updated 200-amp electrical service.
Where is this duplex located?
The property is located at 28 Wingold Street Fall River, MA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑family home built in 1920 with two 2‑bedroom units; Each unit includes a full bath, living room, dining room, and kitchen with hardwood floors; Steam heat on two gas zones
