Six-Unit Multifamily
For Sale
$1,200,000
227 Eagle St, Fall River, MA 02721
Six residential units total, including three 4-bedroom/1-bath units and three 2-bedroom units.
Property Size6,219 SF
Price / SF$192.96
Days on Market131
Property Features for 227 Eagle St
General Information
Standard status
Active
Size
6,219 SF
Property subtype
Multi-Family
Zoning
A-2
Net Operating Income
$94,800
Additional Details
Highway Access
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$7,674
Building Details
Building Size
6,219 SF
Year Built
1904
Stories
5
Listing Agency:
Boston Realty Advisors
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 9
Changed: Sep 15
Last Checked: Sep 15 at 4:49AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
This six-unit multifamily property offers a mix of unit types, including three 4-bedroom/1-bath units and three 2-bedroom units. The building is configured for residential income, with six separate rental spaces within one investment property.
Located near shopping, restaurants, schools, highways, and public transportation, the property also provides access to the South Coast Rail and the T station. It’s described as offering convenient access to downtown and local amenities.
As presented, the asset’s core appeal is its straightforward unit count and flexible layouts across two bedroom configurations, supporting a diversified rental mix within the same building.
Located near shopping, restaurants, schools, highways, and public transportation, the property also provides access to the South Coast Rail and the T station. It’s described as offering convenient access to downtown and local amenities.
As presented, the asset’s core appeal is its straightforward unit count and flexible layouts across two bedroom configurations, supporting a diversified rental mix within the same building.
Key Highlights
- 6‑unit multifamily building built in 1904
- Unit mix: three 4‑bedroom/1‑bath units and three 2‑bedroom units
- Convenient Fall River location near shopping, restaurants, schools, highways, public transportation, and South Coast Rail/T station
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
$103,287
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
8.61%
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%
$2,065,740
$2.1M
Cap Rate 7%
$1,475,529
$1.5M
Cap Rate 9%
$1,147,633
$1.1M
Market Conditions
NOI Build-Up for 6,219 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
$201.5K $32.40/SF
− Vacancy
−$13.7K −$2.20/SF
EGI
$187.8K $30.20/SF
− OpEx
−$84.5K −$13.59/SF
NOI
$103.3K $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%
$2,065,740
Cap Rate 7%
$1,475,529
Cap Rate 9%
$1,147,633
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,287 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.79M
$3.31M – $4.42M
NOI $265,109 @ 7.0% cap · market cap 22.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,981
Businesses Nearby
Explore this area
Business Placement
Demographics for 02721, MA
28,075
Population
12,358
Households
2.3
Avg Household Size
38
Median Age
15%
College-Educated
73%
High-School Grad
4.0 sq mi
ZIP Area
7,019
Density / Sq Mi
$50,666
Median Household Income
$40,315
Median Earnings
$1,010
Median Rent
$362,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six residential units total, including three 4-bedroom/1-bath units and three 2-bedroom units.
Where is this apartment building located?
The property is located at 227 Eagle St Fall River, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6‑unit multifamily building built in 1904; Unit mix: three 4‑bedroom/1‑bath units and three 2‑bedroom units; Convenient Fall River location near shopping, restaurants, schools, highways, public transportation, and South Coast Rail/T station
