Two-Unit Property with
For Sale
$575,000
407-409 Belmont St, Fall River, MA 02720
MULTI_FAMILY - Fall River, MA
Property Size2,968 SF
Lot Size0.17 Acres
Price / SF$193.73
Days on Market8
Property Features for 407-409 Belmont St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 5
Parking
2
Directions
GPS
Standard status
Active
Size
2,968 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6302
Amenities
hardwood floors
double parlors
high ceilings
full basement
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Realty North Central
(978) 840-9000
Listed By:
Rochelle Jonswold
(978) 840-9000
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 12 at 9:06AM
MLS# 73559350
Copyright © 2026 MLS Property Information Network 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 duplex contains 2,968 square feet across two residential units, with six bedrooms and two bathrooms. Both units feature hardwood flooring, oversized double parlors, and high ceilings. Separate utilities support distinct unit operations, while the full basement adds storage and functional support space. A two-car garage is included with the property.
Built in 1900, the property occupies 0.1662 acres and is zoned R-4. It is located at 407-409 Belmont St in Fall River, Massachusetts, one block from the Highlands. The combination of two-unit configuration, traditional interior features, basement space, and garage capacity provides a clear residential income property profile.
Built in 1900, the property occupies 0.1662 acres and is zoned R-4. It is located at 407-409 Belmont St in Fall River, Massachusetts, one block from the Highlands. The combination of two-unit configuration, traditional interior features, basement space, and garage capacity provides a clear residential income property profile.
Key Highlights
- Duplex with 2,968 square feet, six bedrooms, and two bathrooms
- Two residential units with separate utilities
- Hardwood floors, oversized double parlors, and high ceilings
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
$49,293
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
8.57%
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%
$985,860
$985.9K
Cap Rate 7%
$704,186
$704.2K
Cap Rate 9%
$547,700
$547.7K
Market Conditions
NOI Build-Up for 2,968 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
$96.2K $32.40/SF
− Vacancy
−$6.5K −$2.20/SF
EGI
$89.6K $30.20/SF
− OpEx
−$40.3K −$13.59/SF
NOI
$49.3K $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%
$985,860
Cap Rate 7%
$704,186
Cap Rate 9%
$547,700
Alternative Uses
Best Use
Multifamily LT 5
$757.7K
$663.0K – $884.0K
NOI $53,041 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$704.2K
$616.2K – $821.6K
NOI $49,293 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,522 @ 7.0% cap · market cap 22.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,811
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate utilities, period interior details, basement storage, and a two-car garage.
Where is this duplex located?
The property is located at 407-409 Belmont St Fall River, MA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Duplex with 2,968 square feet, six bedrooms, and two bathrooms; Two residential units with separate utilities; Hardwood floors, oversized double parlors, and high ceilings
