Triplex with Two-Bedroom
For Sale
$675,000
185 Covel St, Fall River, MA 02723
Three residences provide consistent two-bedroom layouts suited to rental or owner occupancy.
Property Size2,685 SF
Days on Market28
Property Features for 185 Covel St
General Information
Standard status
Active
Size
2,685 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,810
Building Details
Building Size
2,685 SF
Year Built
1900
Stories
3
Units
3
Listing Agency:
Alfonso Realty Co.
Listed By:
Henry Alfonso · License #9029045
(508) 207-0152
Source:
Elliman
Added: Sep 8
Changed: Oct 3
Last Checked: Oct 5 at 6:18PM
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 Alfonso Realty Co.
Investment Insights
Based on property information with market context.
This triplex contains three residential units, with each apartment arranged as a five-room, two-bedroom residence. The property was built in 1900 and offers a unit configuration that supports either rental use or owner occupancy.
Situated at 185 Covel St in Fall River’s East End, the property is near shopping, dining, schools, public transportation, and major highway access. The location records a Walk Score of 82, a Bike Score of 59, and a Transit Score of 32.
Situated at 185 Covel St in Fall River’s East End, the property is near shopping, dining, schools, public transportation, and major highway access. The location records a Walk Score of 82, a Bike Score of 59, and a Transit Score of 32.
Key Highlights
- Three residential units in a single triplex property
- Each unit includes 5 rooms and 2 bedrooms
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,984
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$959,680
$959.7K
Cap Rate 7%
$685,486
$685.5K
Cap Rate 9%
$533,156
$533.2K
Market Conditions
NOI Build-Up for 2,685 SF
Gross rent
$74.1K $27.60/SF
− Vacancy
−$5.6K −$2.07/SF
EGI
$68.5K $25.53/SF
− OpEx
−$20.6K −$7.66/SF
NOI
$48.0K $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 Rate 5%
$959,680
Cap Rate 7%
$685,486
Cap Rate 9%
$533,156
Alternative Uses
Best Use
Multifamily LT 5
$685.5K
$599.8K – $799.7K
NOI $47,984 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$637.0K
$557.4K – $743.2K
NOI $44,593 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,458 @ 7.0% cap · market cap 16.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,081
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residences provide consistent two-bedroom layouts suited to rental or owner occupancy.
Where is this triplex located?
The property is located at 185 Covel St Fall River, MA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three residential units in a single triplex property; Each unit includes 5 rooms and 2 bedrooms; Built in 1900
