Three-Family Residential Income
196 Irving St Fall River, MA 02723
196 Irving St, Fall River, MA, 02723
$849,900
For Sale
$849,900
Three spacious units offer separate utilities, with major updates including siding, windows, electrical, plumbing, flooring, and heating systems.
Property Size4,521 SF
Price / SF$187.99
Days on Market64
Property Features for 196 Irving St
General Information
- Standard status
- Active
- Size
- 4,521 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing agency
Divine Real Estate, Inc.
(508) 207-5351
Listed by
Zachary Midwood · License #451503605
Source
Hometown-team
Added: May 19 Updated: Jul 21 at 12:02PM Checked: Jul 21 at 12:02PM
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 Divine Real Estate, Inc.
Investment Insights
Based on property information with market context.
This large three-family residential income property offers over 4,500 square feet with spacious 4-bedroom triple parlor-style units across the building. Multiple major improvements have already been completed, including vinyl siding, replacement windows, electrical service and panels, plumbing throughout, flooring, and the main sewer line. The first-floor unit uses baseboard heat, while the second and third floors are served by forced hot air systems. Separate utilities are in place, supporting flexible occupancy and management.
The second-floor unit is scheduled to be delivered vacant. The property’s strong rental history and the scope of completed updates make it well-suited for an owner-occupant or long-term rental use.
No information is provided regarding specific exterior layout details beyond the completed improvements, so buyers should plan to verify room-by-room configurations during due diligence.
The second-floor unit is scheduled to be delivered vacant. The property’s strong rental history and the scope of completed updates make it well-suited for an owner-occupant or long-term rental use.
No information is provided regarding specific exterior layout details beyond the completed improvements, so buyers should plan to verify room-by-room configurations during due diligence.
Key Highlights
- Massive 3‑family with over 4,500 sq ft and spacious 4‑bedroom triple parlor units
- Major updates already completed: vinyl siding, windows, electrical service and panels
- Newer/updated plumbing throughout and main sewer line
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.5k | $32.40 |
| − Vacancy | −$10.0k | −$2.20 |
| EGI | $136.5k | $30.20 |
| − OpEx | −$61.4k | −$13.59 |
| NOI | $75.1k | $16.61 |
4,521 SF · lease $32.40/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.35M
NOI $80,795 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$1.07M
$938.6K – $1.25M
NOI $75,086 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,725 @ 7.0% cap · market cap 22.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three spacious units offer separate utilities, with major updates including siding, windows, electrical, plumbing, flooring, and heating systems.
Where is this triplex located?
The property is located at 196 Irving St Fall River, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Massive 3‑family with over 4,500 sq ft and spacious 4‑bedroom triple parlor units; Major updates already completed: vinyl siding, windows, electrical service and panels; Newer/updated plumbing throughout and main sewer line
