Multifamily Property Requiring
For Sale
$360,000
1814 Pleasant Street, Fall River, MA 02723
Vinyl-sided property with older kitchens, bathrooms, and heating systems requiring rehabilitation.
Property Size1,457 SF
Price / SF$247.08
Days on Market138
Property Features for 1814 Pleasant Street
General Information
Standard status
Active
Size
1,457 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
B
Taxes and HOA fees
Annual Taxes
$3,664
Building Details
Building Size
1,457 SF
Year Built
1930
Stories
2
Listing Agency:
Coldwell Banker Realty - Marblehead
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 17
Changed: Aug 30
Last Checked: Aug 31 at 1:08PM
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 Coldwell Banker Realty - Marblehead
Investment Insights
Based on property information with market context.
Built in 1930, this 1,457-square-foot multifamily property features vinyl siding and interiors that require rehabilitation. The kitchens and bathrooms are older, and the heating systems also need work. The property is offered in as-is condition, allowing the next owner to determine the renovation approach.
Located at 1814 Pleasant Street in Fall River, Massachusetts, the property provides a residential income asset with substantial improvement needs. Its existing layout and building shell offer a starting point for a comprehensive renovation project.
Located at 1814 Pleasant Street in Fall River, Massachusetts, the property provides a residential income asset with substantial improvement needs. Its existing layout and building shell offer a starting point for a comprehensive renovation project.
Key Highlights
- 1,457‑square‑foot multifamily property
- Built in 1930
- Vinyl‑sided exterior
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
$24,198
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
6.72%
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%
$483,960
$484.0K
Cap Rate 7%
$345,686
$345.7K
Cap Rate 9%
$268,867
$268.9K
Market Conditions
NOI Build-Up for 1,457 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
$47.2K $32.40/SF
− Vacancy
−$3.2K −$2.20/SF
EGI
$44.0K $30.20/SF
− OpEx
−$19.8K −$13.59/SF
NOI
$24.2K $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%
$483,960
Cap Rate 7%
$345,686
Cap Rate 9%
$268,867
Alternative Uses
Best Use
Apartment 5plus
$345.7K
$302.5K – $403.3K
NOI $24,198 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$887.3K
$776.4K – $1.04M
NOI $62,110 @ 7.0% cap · market cap 17.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
724
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
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 - Vinyl-sided property with older kitchens, bathrooms, and heating systems requiring rehabilitation.
Where is this multifamily property located?
The property is located at 1814 Pleasant Street Fall River, MA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 1,457‑square‑foot multifamily property; Built in 1930; Vinyl‑sided exterior
