Triplex with Three-Bedroom
For Sale
$585,000
289 Fifth St, Fall River, MA 02721
Residential income property with two vacant units and R zoning.
Property Size3,242 SF
Price / SF$180.44
Days on Market134
Property Features for 289 Fifth St
General Information
Standard status
Active
Size
3,242 SF
Property subtype
Multi-Family
Zoning
R
Net Operating Income
$42,000
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Building Details
Building Size
3,242 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Atlantic Properties
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 20
Changed: Aug 29
Last Checked: Aug 30 at 1:40PM
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.
Built in 1900, this 3,242-square-foot triplex contains three residential units, each arranged with three bedrooms and one bathroom. Two units are currently vacant, providing immediate occupancy flexibility within the existing three-family configuration.
The property is located at 289 Fifth St in Fall River, Massachusetts, near local amenities, major routes, and ongoing area development. R zoning supports its residential classification, while the three-unit layout offers a straightforward multifamily format for continued rental use or owner occupancy.
The property is located at 289 Fifth St in Fall River, Massachusetts, near local amenities, major routes, and ongoing area development. R zoning supports its residential classification, while the three-unit layout offers a straightforward multifamily format for continued rental use or owner occupancy.
Key Highlights
- 3,242‑square‑foot triplex built in 1900
- Three 3‑bedroom, 1‑bath residential units
- Two units currently vacant
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
$53,844
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
9.20%
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%
$1,076,880
$1.1M
Cap Rate 7%
$769,200
$769.2K
Cap Rate 9%
$598,267
$598.3K
Market Conditions
NOI Build-Up for 3,242 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
$105.0K $32.40/SF
− Vacancy
−$7.1K −$2.20/SF
EGI
$97.9K $30.20/SF
− OpEx
−$44.1K −$13.59/SF
NOI
$53.8K $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%
$1,076,880
Cap Rate 7%
$769,200
Cap Rate 9%
$598,267
Alternative Uses
Best Use
Multifamily LT 5
$827.7K
$724.2K – $965.6K
NOI $57,938 @ 7.0% cap · market cap 9.90%
Second Best
Apartment 5plus
$769.2K
$673.1K – $897.4K
NOI $53,844 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,203 @ 7.0% cap · market cap 23.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,828
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
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 income property with two vacant units and R zoning.
Where is this triplex located?
The property is located at 289 Fifth St Fall River, MA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 3,242‑square‑foot triplex built in 1900; Three 3‑bedroom, 1‑bath residential units; Two units currently vacant
