Updated Two-Unit
New
For Sale
$499,000
190 Raymond St, Fall River, MA 02723
Residential duplex with private outdoor space, off-street parking, and one unit leased through May 2027.
Property Size2,132 SF
Days on Market3
Property Features for 190 Raymond St
General Information
Standard status
Active
Size
2,132 SF
Total Parking Spaces
5
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,701
Building Details
Building Size
2,132 SF
Year Built
1930
Stories
2
Units
2
Listing Agency:
Keller Williams South Watuppa
(774) 627-0088
Listed By:
Fatima Pires
(774) 627-0088
Source:
Thefirmreg
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 5:59AM
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 South Watuppa
Investment Insights
Based on property information with market context.
This two-unit residential property in Fall River was built in 1930 and has been updated and maintained for continued occupancy. Both apartments provide three bedrooms. The first unit includes a spacious kitchen and is leased through May 2027. The second unit offers additional area that can function as a bonus room or office, subject to the occupant’s needs.
The property at 190 Raymond St includes off-street parking and a private backyard with maintained outdoor space. Highway access is available from the property, supporting convenient travel throughout the surrounding area. The roof was completed in 2023, adding a recent capital improvement to the building’s existing features.
The property at 190 Raymond St includes off-street parking and a private backyard with maintained outdoor space. Highway access is available from the property, supporting convenient travel throughout the surrounding area. The roof was completed in 2023, adding a recent capital improvement to the building’s existing features.
Key Highlights
- Two‑unit duplex with three bedrooms in each apartment
- First unit leased through May 2027
- Second unit includes flexible bonus‑room or office space
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
$38,101
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
7.64%
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%
$762,020
$762.0K
Cap Rate 7%
$544,300
$544.3K
Cap Rate 9%
$423,344
$423.3K
Market Conditions
NOI Build-Up for 2,132 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
$58.8K $27.60/SF
− Vacancy
−$4.4K −$2.07/SF
EGI
$54.4K $25.53/SF
− OpEx
−$16.3K −$7.66/SF
NOI
$38.1K $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%
$762,020
Cap Rate 7%
$544,300
Cap Rate 9%
$423,344
Alternative Uses
Best Use
Multifamily LT 5
$544.3K
$476.3K – $635.0K
NOI $38,101 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$505.8K
$442.6K – $590.2K
NOI $35,409 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$1.30M
$1.14M – $1.51M
NOI $90,885 @ 7.0% cap · market cap 18.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
724
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 - Residential duplex with private outdoor space, off-street parking, and one unit leased through May 2027.
Where is this duplex located?
The property is located at 190 Raymond St Fall River, MA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑unit duplex with three bedrooms in each apartment; First unit leased through May 2027; Second unit includes flexible bonus‑room or office space
