Renovated Three-Unit Residential
For Sale
$599,999
32 Slater Street, Fall River, MA 02720
Residential Income, Fall River, MA
Property Size2,960 SF
Lot Size0.08 Acres
Price / SF$202.70
Days on Market52
Property Features for 32 Slater Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 5, Bedroom 1, Basement, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 4
Parking
5
Parking features
None
Interior features
Wall (Cermaic), Wall (Dry Wall), Attic, Attic Stairs, Stairs, Insulation (Walls)
Basement
Full, Finished
Appliances
Electric Water Heater, Gas Water Heater, Microwave, Oven/Range, Refrigerator
Standard status
Active
Size
2,960 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4650
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Building Details
Year built
1900
Floors in Building
1
Number of units
3
Flooring type
Tile - Ceramic, Hardwood
Building materials
Ceramic, Dry Wall, Vinyl Siding
Listing Agency:
Exp Realty
(888) 315-3445
Listed By:
Lizbeth Rivera
(508) 472-0238
Added: Jul 23
Changed: Sep 6
Last Checked: Sep 12 at 9:06PM
MLS# 1418784
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit residential property is arranged across three stories and includes six bedrooms and three full bathrooms. The 2,960-square-foot property was built in 1900 and renovated approximately one year ago, with ceramic and hardwood flooring, vinyl siding, wall insulation, attic storage, and forced-air natural gas heating. Window-unit cooling is also provided.
The property occupies a 3,537-square-foot lot at 32 Slater Street in Fall River, Massachusetts. Additional features include public sewer service, electric and gas water heaters, an oven/range, refrigerator, and microwave. B zoning is identified for the property, and the address is within ZIP code 02720.
The property occupies a 3,537-square-foot lot at 32 Slater Street in Fall River, Massachusetts. Additional features include public sewer service, electric and gas water heaters, an oven/range, refrigerator, and microwave. B zoning is identified for the property, and the address is within ZIP code 02720.
Key Highlights
- Three‑unit residential property with six bedrooms and three full bathrooms
- 2,960 square feet on a 3,537‑square‑foot lot
- Renovated approximately one year ago
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
$52,898
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
8.82%
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%
$1,057,960
$1.1M
Cap Rate 7%
$755,686
$755.7K
Cap Rate 9%
$587,756
$587.8K
Market Conditions
NOI Build-Up for 2,960 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
$81.7K $27.60/SF
− Vacancy
−$6.1K −$2.07/SF
EGI
$75.6K $25.53/SF
− OpEx
−$22.7K −$7.66/SF
NOI
$52.9K $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 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%
$1,057,960
Cap Rate 7%
$755,686
Cap Rate 9%
$587,756
Alternative Uses
Best Use
Multifamily LT 5
$755.7K
$661.2K – $881.6K
NOI $52,898 @ 7.0% cap · market cap 8.82%
Second Best
Apartment 5plus
$702.3K
$614.5K – $819.3K
NOI $49,160 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,181 @ 7.0% cap · market cap 21.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,104
Businesses Nearby
Explore this area
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
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?
Triplex - Three-story residential income property with six bedrooms, three full bathrooms, and updated interior finishes.
Where is this triplex located?
The property is located at 32 Slater Street Fall River, MA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Three‑unit residential property with six bedrooms and three full bathrooms; 2,960 square feet on a 3,537‑square‑foot lot; Renovated approximately one year ago
