Two-Bedroom Multifamily
245 Cory, Fall River, MA 02720
For Sale
New
$674,999
A legal two-bedroom residence has an additional room; any bedroom conversion requires municipal approvals.
Property Size2,682 SF
Price / SF$251.68
Days on Market3
Property Features for 245 Cory
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Anchor Realty
(508) 678-3770
Listed By:
Michael Ferreira
(508) 496-3569
Source:
Isosrealty
Added: Nov 11
Last Checked: Nov 13 at 2:32AM
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 Anchor Realty
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Investment Insights
Based on property information with market context.
Built in 1900, this 2,682-square-foot property is zoned G and is currently recognized as a two-bedroom residence. An additional room is present, and converting it to a bedroom would require municipal review and approval. The property is at 245 Cory Street in Fall River, across from a cemetery. The nearby train depot, shopping, dining, and major routes provide access to local services and transportation. The owner may also sell 251 Cory Street together with this property.
Key Highlights
- 2,682‑square‑foot property built in 1900
- Currently a legal two‑bedroom residence with an additional room
- Zoned G
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,543
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$890,860
$890.9K
Cap Rate 7%
$636,329
$636.3K
Cap Rate 9%
$494,922
$494.9K
Market Conditions
NOI Build-Up for 2,682 SF
Gross rent
$86.9K $32.40/SF
− Vacancy
−$5.9K −$2.20/SF
EGI
$81.0K $30.20/SF
− OpEx
−$36.4K −$13.59/SF
NOI
$44.5K $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 Rate 5%
$890,860
Cap Rate 7%
$636,329
Cap Rate 9%
$494,922
Alternative Uses
Best Use
Apartment 5plus
$636.3K
$556.8K – $742.4K
NOI $44,543 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.43M – $1.91M
NOI $114,330 @ 7.0% cap · market cap 16.94%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
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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
$361,800
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Fall River, MA
Properties on Market for Multifamily properties in Fall River
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - A legal two-bedroom residence has an additional room; any bedroom conversion requires municipal approvals.
Where is this multifamily property located?
The property is located at 245 Cory Fall River, MA.
What is the asking price?
The asking price for this property is $674,999.
What are key features of this property?
This property features: 2,682‑square‑foot property built in 1900; Currently a legal two‑bedroom residence with an additional room; Zoned G
