Renovated
For Sale
$869,000
154 Barnaby St, Fall River, MA 02720
MULTI_FAMILY - Fall River, MA
Property Size3,313 SF
Lot Size0.13 Acres
Price / SF$262.30
Days on Market9
Property Features for 154 Barnaby St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
A-2
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 9, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 5, Bathroom 2, Bedroom 7, Bedroom 8, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 2
Parking
2
Middle school
Morton
High school
Durfee
Directions
President ave to N.Main to Lincoln to Barnaby
Subdivision
Steep Brook
Standard status
Active
APN
M:000O B:0010 L:0019,2834051
Size
3,313 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5412
Amenities
off-street parking
Building Details
Year built
1911
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Aug 4
Changed: Aug 8
Last Checked: Aug 12 at 12:06AM
MLS# 73559160
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated triplex contains three residential units, each arranged with three bedrooms. Improvements include updated kitchens with appliances, refreshed bathrooms, replacement heating systems, and hardwood flooring. The exterior has vinyl siding, while off-street parking serves residents and guests. The building contains 3,313 square feet on a 0.1283-acre lot and dates to 1911. It is zoned A-2.
The property will be delivered vacant, allowing the next owner to determine occupancy across all three units. Its Fall River setting places the building near the MBTA commuter rail station, shopping, dining, schools, parks, and major highways.
The property will be delivered vacant, allowing the next owner to determine occupancy across all three units. Its Fall River setting places the building near the MBTA commuter rail station, shopping, dining, schools, parks, and major highways.
Key Highlights
- Three‑unit property with three bedrooms in each unit
- 3,313 square feet on a 0.1283‑acre lot
- Updated 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
6.81%
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 6.81%
Second Best
Apartment 5plus
$786.0K
$687.8K – $917.1K
NOI $55,023 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$2.02M
$1.77M – $2.35M
NOI $141,229 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
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 - Three updated residential units offer flexible ownership with immediate vacancy for new tenant selection or owner occupancy.
Where is this triplex located?
The property is located at 154 Barnaby St Fall River, MA.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Three‑unit property with three bedrooms in each unit; 3,313 square feet on a 0.1283‑acre lot; Updated kitchens, appliances, bathrooms, and heating systems
