Three-Unit Triplex with Fenced
For Sale
$775,000
206 Irving Street, Fall River, MA 02723
Residential units offer hardwood flooring, laundry hookups, and updated plumbing across three levels.
Property Size3,966 SF
Price / SF$195.41
Days on Market125
Property Features for 206 Irving Street
General Information
Standard status
Active
Size
3,966 SF
Property subtype
Multi-Family
Zoning
B
Net Operating Income
$49,800
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,482
Amenities
in-unit laundry hookups
fully fenced-in yard
Building Details
Building Size
3,966 SF
Year Built
1900
Stories
3
Listing Agency:
Atlantic Properties
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 29
Changed: Aug 30
Last Checked: Aug 30 at 1:46PM
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 Atlantic Properties
Investment Insights
Based on property information with market context.
This three-unit residential property provides 3,966 square feet of living space within a building constructed in 1900. Each apartment has hardwood flooring, while laundry hookups are provided on every floor. Updated plumbing adds a documented improvement to the property’s core systems.
The exterior includes a fully fenced yard suitable for private outdoor use. Located at 206 Irving Street in Fall River, Massachusetts, the property carries B zoning and is configured as a triplex with three separate residential units.
The exterior includes a fully fenced yard suitable for private outdoor use. Located at 206 Irving Street in Fall River, Massachusetts, the property carries B zoning and is configured as a triplex with three separate residential units.
Key Highlights
- 3,966 square feet of living space
- Three‑family triplex configuration
- Laundry hookups on every floor
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
$70,876
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
9.15%
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%
$1,417,520
$1.4M
Cap Rate 7%
$1,012,514
$1.0M
Cap Rate 9%
$787,511
$787.5K
Market Conditions
NOI Build-Up for 3,966 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
$109.5K $27.60/SF
− Vacancy
−$8.2K −$2.07/SF
EGI
$101.3K $25.53/SF
− OpEx
−$30.4K −$7.66/SF
NOI
$70.9K $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%
$1,417,520
Cap Rate 7%
$1,012,514
Cap Rate 9%
$787,511
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$886.0K – $1.18M
NOI $70,876 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$941.0K
$823.4K – $1.10M
NOI $65,868 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$2.42M
$2.11M – $2.82M
NOI $169,066 @ 7.0% cap · market cap 21.81%
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
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?
Triplex - Residential units offer hardwood flooring, laundry hookups, and updated plumbing across three levels.
Where is this triplex located?
The property is located at 206 Irving Street Fall River, MA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 3,966 square feet of living space; Three‑family triplex configuration; Laundry hookups on every floor
