Updated Multifamily
New
For Sale
$989,000
153 Belmont St, Fall River, MA 02720
Updated kitchens, hardwood floors, and a finished bonus area support flexible residential use.
Property Size4,383 SF
Days on Market4
Property Features for 153 Belmont St
General Information
Standard status
Active
Size
4,383 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,573
Building Details
Building Size
4,383 SF
Year Built
1888
Stories
3
Units
3
Listing Agency:
Keller Williams South Watuppa
(774) 319-1169
Listed By:
Jordan Pavao
(774) 319-1169
Source:
Elliman
Added: Aug 11
Changed: Aug 13
Last Checked: Aug 13 at 10:17AM
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.
Built in 1888, this multifamily property combines updated interior finishes with retained character. The residence includes refreshed kitchens, hardwood flooring, and a separate finished bonus area that adds usable space. Outside, stonework shapes a private backyard suitable for outdoor enjoyment and entertaining.
The property is located at 153 Belmont St in Fall River’s Highlands neighborhood, with Charlton Memorial Hospital, commuter rail service, parks, shopping, and other area amenities nearby. Walk Score is 82, Bike Score is 54, and Transit Score is 40, reflecting walkable access with some transit availability.
The property is located at 153 Belmont St in Fall River’s Highlands neighborhood, with Charlton Memorial Hospital, commuter rail service, parks, shopping, and other area amenities nearby. Walk Score is 82, Bike Score is 54, and Transit Score is 40, reflecting walkable access with some transit availability.
Key Highlights
- Multifamily property built in 1888
- Updated kitchens and hardwood flooring
- Separate finished bonus area
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
$72,794
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
7.36%
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%
$1,455,880
$1.5M
Cap Rate 7%
$1,039,914
$1.0M
Cap Rate 9%
$808,822
$808.8K
Market Conditions
NOI Build-Up for 4,383 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
$142.0K $32.40/SF
− Vacancy
−$9.7K −$2.20/SF
EGI
$132.4K $30.20/SF
− OpEx
−$59.6K −$13.59/SF
NOI
$72.8K $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%
$1,455,880
Cap Rate 7%
$1,039,914
Cap Rate 9%
$808,822
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$909.9K – $1.21M
NOI $72,794 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.34M – $3.11M
NOI $186,842 @ 7.0% cap · market cap 18.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,811
Businesses Nearby
Explore this area
Business Placement
Demographics for 02720, MA
31,209
Population
14,940
Households
2.1
Avg Household Size
41
Median Age
21%
College-Educated
81%
High-School Grad
13.2 sq mi
ZIP Area
2,364
Density / Sq Mi
$62,907
Median Household Income
$45,199
Median Earnings
$1,177
Median Rent
$361,800
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?
Multifamily property - Updated kitchens, hardwood floors, and a finished bonus area support flexible residential use.
Where is this multifamily property located?
The property is located at 153 Belmont St Fall River, MA.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Multifamily property built in 1888; Updated kitchens and hardwood flooring; Separate finished bonus area
