Remodeled Two-Family
278 Division Street Fall River, MA 02721
278 Division Street, Fall River, MA, 02721
$700,000
For Sale
$700,000
Two fully remodeled units with modern electrical, plumbing, and tankless heating, plus a delivered-vacant second unit.
Property Size2,727 SF
Price / SF$256.69
Days on Market76
Property Features for 278 Division Street
General Information
- Standard status
- Active
- Size
- 2,727 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Lion Gate Real Estate,Inc.
(508) 264-5538
Listed by
Wendy Sampson
Source
Milburyre
Added: May 7 Updated: Jul 21 at 2:36AM Checked: Jul 21 at 8:31AM
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 Lion Gate Real Estate,Inc.
Investment Insights
Based on property information with market context.
This beautifully remodeled two-family property offers a versatile layout across both units. The first-floor unit includes three bedrooms and is currently occupied. The townhouse-style second unit is expansive and features an enclosed sunporch with sliders, two bedrooms on the main level, a large upper-level bedroom with two bonus rooms, and two full bathrooms. The second unit will be delivered vacant at closing.
Major updates include a roof replaced in 2016, all new electrical, all new plumbing, and a tankless heating system, along with a fully remodeled interior and four full bathrooms throughout the property. Additional lower-level space provides further flexibility.
The property is conveniently located near highways, shopping, restaurants, and waterfront attractions, with partial water views of the bay and Braga Bridge noted in the remarks.
Major updates include a roof replaced in 2016, all new electrical, all new plumbing, and a tankless heating system, along with a fully remodeled interior and four full bathrooms throughout the property. Additional lower-level space provides further flexibility.
The property is conveniently located near highways, shopping, restaurants, and waterfront attractions, with partial water views of the bay and Braga Bridge noted in the remarks.
Key Highlights
- Two‑family home built in 1900 with two fully remodeled units
- First‑floor unit: 3 bedrooms and currently occupied
- Second unit: delivered vacant at closing; includes enclosed sunporch, 2 bedrooms on main level, plus large upper‑level bedroom and 2 bonus rooms
Local Financial Insights For Multifamily LT 5
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 | $75.3k | $27.60 |
| − Vacancy | −$5.6k | −$2.07 |
| EGI | $69.6k | $25.53 |
| − OpEx | −$20.9k | −$7.66 |
| NOI | $48.7k | $17.87 |
2,727 SF · lease $27.60/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$696.2K
$609.2K – $812.2K
NOI $48,734 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$647.0K
$566.1K – $754.9K
NOI $45,291 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,249 @ 7.0% cap · market cap 16.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two fully remodeled units with modern electrical, plumbing, and tankless heating, plus a delivered-vacant second unit.
Where is this duplex located?
The property is located at 278 Division Street Fall River, MA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two‑family home built in 1900 with two fully remodeled units; First‑floor unit: 3 bedrooms and currently occupied; Second unit: delivered vacant at closing; includes enclosed sunporch, 2 bedrooms on main level, plus large upper‑level bedroom and 2 bonus rooms
