Remodeled Three-Family Home with
For Sale
$650,000
Pending
15 Higgins St, Fall River, MA 02724
Remodeled 3-family near Fall River T Station.
Property Size3,159 SF
Lot Size0.24 Acres
Days on Market267
Property Features for 15 Higgins St
General Information
Standard status
Pending
Size
3,159 SF
Lot size
0.24 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,320
Building Details
Building Size
3,159 SF
Year Built
1900
Stories
3
Units
3
Listing Agency:
Lion Gate Real Estate, Inc.
(508) 264-5538
Listed By:
Wendy Sampson
(508) 264-5538
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 21 at 10:43AM
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 Lion Gate Real Estate, Inc.
Investment Insights
Based on property information with market context.
This remodeled three-family home features a vacant first-floor unit. The property includes a large yard and a two-car garage, providing outdoor space and storage. It is located near the new Fall River T Station, offering convenient access to highways and shopping. The property is situated in a quiet area.
Key Highlights
- Vacant first‑floor unit ideal for owner‑occupant
- Convenient location near the new Fall River T Station and easy highway access
- Large yard and 2‑car garage
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
$56,454
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
8.69%
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%
$1,129,080
$1.1M
Cap Rate 7%
$806,486
$806.5K
Cap Rate 9%
$627,267
$627.3K
Market Conditions
NOI Build-Up for 3,159 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
$87.2K $27.60/SF
− Vacancy
−$6.5K −$2.07/SF
EGI
$80.6K $25.53/SF
− OpEx
−$24.2K −$7.66/SF
NOI
$56.5K $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%
$1,129,080
Cap Rate 7%
$806,486
Cap Rate 9%
$627,267
Alternative Uses
Best Use
Multifamily LT 5
$806.5K
$705.7K – $940.9K
NOI $56,454 @ 7.0% cap · market cap 8.69%
Second Best
Apartment 5plus
$749.5K
$655.8K – $874.4K
NOI $52,465 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,664 @ 7.0% cap · market cap 20.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Explore this area
Business Placement
Demographics for 02724, MA
18,050
Population
8,808
Households
2
Avg Household Size
38
Median Age
15%
College-Educated
76%
High-School Grad
1.8 sq mi
ZIP Area
10,028
Density / Sq Mi
$49,809
Median Household Income
$42,334
Median Earnings
$1,105
Median Rent
$368,300
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?
Triplex - Remodeled 3-family near Fall River T Station.
Where is this triplex located?
The property is located at 15 Higgins St Fall River, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Vacant first‑floor unit ideal for owner‑occupant; Convenient location near the new Fall River T Station and easy highway access; Large yard and 2‑car garage
