Updated Triplex with Trex
For Sale
$697,000
88 Arizona St, Fall River, MA 02723
Three-family property with finished lower-level space, a garage, solar panels, and a well-maintained outdoor area.
Property Size3,659 SF
Days on Market9
Property Features for 88 Arizona St
General Information
Standard status
Active
Size
3,659 SF
Total Parking Spaces
1
Property subtype
Investment
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,231
Amenities
solar panels
deck
finished basement
Building Details
Building Size
3,659 SF
Year Built
1927
Buildings
1
Stories
3
Units
3
Listed By:
Darleen DeLuca
(508) 353-2424
Source:
Elliman
Added: Sep 7
Last Checked: Sep 14 at 9:48AM
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 Darleen DeLuca
Investment Insights
Based on property information with market context.
Built in 1927, this triplex includes three residential units, each arranged with two oversized bedrooms, a formal dining room, and a kitchen. Original woodwork adds period character, while newer windows, a newer roof, solar panels, and boilers provide updated building systems. The lower level is finished and includes a full bathroom, creating additional space for recreation, storage, or extended living.
Exterior features include a maintained yard, one-car garage, and Trex deck. The property has a Walk Score of 82, a Bike Score of 59, and a Transit Score of 32, reflecting its access to walkable amenities, bicycle travel, and public transportation.
Exterior features include a maintained yard, one-car garage, and Trex deck. The property has a Walk Score of 82, a Bike Score of 59, and a Transit Score of 32, reflecting its access to walkable amenities, bicycle travel, and public transportation.
Key Highlights
- Three‑family property built in 1927
- Each unit includes two oversized bedrooms and a formal dining room
- Finished lower level with full bath
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
$60,770
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
8.72%
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%
$1,215,400
$1.2M
Cap Rate 7%
$868,143
$868.1K
Cap Rate 9%
$675,222
$675.2K
Market Conditions
NOI Build-Up for 3,659 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
$118.6K $32.40/SF
− Vacancy
−$8.1K −$2.20/SF
EGI
$110.5K $30.20/SF
− OpEx
−$49.7K −$13.59/SF
NOI
$60.8K $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%
$1,215,400
Cap Rate 7%
$868,143
Cap Rate 9%
$675,222
Alternative Uses
Best Use
Multifamily LT 5
$934.1K
$817.4K – $1.09M
NOI $65,390 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$868.1K
$759.6K – $1.01M
NOI $60,770 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $155,979 @ 7.0% cap · market cap 22.38%
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
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
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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
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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 - Three-family property with finished lower-level space, a garage, solar panels, and a well-maintained outdoor area.
Where is this triplex located?
The property is located at 88 Arizona St Fall River, MA.
What is the asking price?
The asking price for this property is $697,000.
What are key features of this property?
This property features: Three‑family property built in 1927; Each unit includes two oversized bedrooms and a formal dining room; Finished lower level with full bath
