Renovated Three-Unit
New
For Sale
$819,000
154 Barnaby Street, Fall River, MA 02720
Vacant delivery with updated kitchens, bathrooms, heating systems, hardwood floors, and off-street parking across three units.
Property Size3,313 SF
Price / SF$247.21
Days on Market7
Property Features for 154 Barnaby Street
General Information
Standard status
Active
Size
3,313 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Year Built
1911
Buildings
1
Listing Agency:
Keller Williams South Watuppa
Listed By:
Dawn Mercer
(617) 262-6200
Source:
Cabotandcompany
Added: Aug 17
Changed: Aug 23
Last Checked: Aug 23 at 8:03AM
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 3,313-square-foot triplex, built in 1911, contains three residential units with three bedrooms per unit. Renovations include new kitchens and appliances, refreshed bathrooms, new heating systems, and hardwood flooring. Vinyl siding reduces exterior maintenance, while a walk-up attic provides additional space within the property. Off-street parking is included, and the building will be delivered vacant.
The property is located in Fall River’s Highlands neighborhood, minutes from the new MBTA commuter rail station, shopping, dining, schools, parks, and major highways. The vacant delivery supports flexible occupancy and leasing plans, including the possibility of living in one unit while renting the others, as explicitly stated in the property information.
The property is located in Fall River’s Highlands neighborhood, minutes from the new MBTA commuter rail station, shopping, dining, schools, parks, and major highways. The vacant delivery supports flexible occupancy and leasing plans, including the possibility of living in one unit while renting the others, as explicitly stated in the property information.
Key Highlights
- Three‑unit triplex with three bedrooms in each unit
- 3,313 square feet; built in 1911
- New kitchens, appliances, bathrooms, and heating systems
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
$59,207
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
7.23%
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%
$1,184,140
$1.2M
Cap Rate 7%
$845,814
$845.8K
Cap Rate 9%
$657,856
$657.9K
Market Conditions
NOI Build-Up for 3,313 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
$91.4K $27.60/SF
− Vacancy
−$6.9K −$2.07/SF
EGI
$84.6K $25.53/SF
− OpEx
−$25.4K −$7.66/SF
NOI
$59.2K $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%
$1,184,140
Cap Rate 7%
$845,814
Cap Rate 9%
$657,856
Alternative Uses
Best Use
Multifamily LT 5
$845.8K
$740.1K – $986.8K
NOI $59,207 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$786.0K
$687.8K – $917.1K
NOI $55,023 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$2.02M
$1.77M – $2.35M
NOI $141,229 @ 7.0% cap · market cap 17.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,474
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?
Triplex - Vacant delivery with updated kitchens, bathrooms, heating systems, hardwood floors, and off-street parking across three units.
Where is this triplex located?
The property is located at 154 Barnaby Street Fall River, MA.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: Three‑unit triplex with three bedrooms in each unit; 3,313 square feet; built in 1911; New kitchens, appliances, bathrooms, and heating systems
