Renovated Duplex with In-Law
247 Pitman St, Fall River, MA 02723
For Sale
$730,000
Fully updated two-unit property with modern kitchens, upgraded systems, and flexible auxiliary living space.
Property Size3,000 SF
Price / SF$243.33
Days on Market53
Property Features for 247 Pitman St
General Information
Standard status
Size
Property subtype
Net Operating Income
Taxes and HOA fees
Annual Taxes
Amenities
landscaped backyard
front porch
rear deck
Building Details
Building Size
Year Built
Stories
Listing Agency:
Pina & Savage Realty Inc.
Listed By:
Yvonne M Pina
(508) 930-4625
Source:
Laerrealty
Added: Sep 22
Changed: Nov 6
Last Checked: Nov 12 at 4:58AM
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 Pina & Savage Realty Inc.
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Investment Insights
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Built in 1925, this duplex has been comprehensively rebuilt with updated roofing, siding, windows, doors, electrical, plumbing, heating, central A/C, insulation, flooring, and lighting. Lead certifications are in place. Both units offer refreshed interiors, contemporary kitchens with new cabinetry, quartz islands, and stainless-steel appliances, along with renovated bathrooms featuring tile floors, glass-enclosed showers, and modern vanities.
Unit 1 includes an additional in-law suite reached by spiral staircase, with a separate walk-out to the backyard. The property also includes a landscaped rear yard, front porch, and rear deck. Located at 247 Pitman St in Fall River, Massachusetts, the property combines two-unit residential income use with adaptable space for guests, family, or a private office.
Unit 1 includes an additional in-law suite reached by spiral staircase, with a separate walk-out to the backyard. The property also includes a landscaped rear yard, front porch, and rear deck. Located at 247 Pitman St in Fall River, Massachusetts, the property combines two-unit residential income use with adaptable space for guests, family, or a private office.
Key Highlights
- Duplex at 247 Pitman St, Fall River, MA 02723
- Comprehensive renovation includes roof, siding, windows, electrical, plumbing, heating, central A/C, and insulation
- Both units feature updated kitchens with quartz islands and stainless‑steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,613
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,072,260
$1.1M
Cap Rate 7%
$765,900
$765.9K
Cap Rate 9%
$595,700
$595.7K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$82.8K $27.60/SF
− Vacancy
−$6.2K −$2.07/SF
EGI
$76.6K $25.53/SF
− OpEx
−$23.0K −$7.66/SF
NOI
$53.6K $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 Rate 5%
$1,072,260
Cap Rate 7%
$765,900
Cap Rate 9%
$595,700
Alternative Uses
Best Use
Multifamily LT 5
$765.9K
$670.2K – $893.6K
NOI $53,613 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$711.8K
$622.8K – $830.4K
NOI $49,825 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,886 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
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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
$312,900
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Fall River, MA
Properties on Market for Duplexes in Fall River
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Fully updated two-unit property with modern kitchens, upgraded systems, and flexible auxiliary living space.
Where is this duplex located?
The property is located at 247 Pitman St Fall River, MA.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Duplex at 247 Pitman St, Fall River, MA 02723; Comprehensive renovation includes roof, siding, windows, electrical, plumbing, heating, central A/C, and insulation; Both units feature updated kitchens with quartz islands and stainless‑steel appliances
