Renovated 3-Unit Residential Income
For Sale
$715,000
435-437 Stetson St, Fall River, MA 02720
Fully renovated two-family home with a legal ADU, delivering two open-concept three-bedroom units plus an additional accessory dwelling unit.
Property Size3,036 SF
Days on Market51
Property Features for 435-437 Stetson St
General Information
Standard status
Active
Size
3,036 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,701
Building Details
Building Size
3,036 SF
Year Built
1920
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
Keller Williams South Watuppa
(401) 301-4253
Listed By:
Nelson Jaime
(401) 301-4253
Source:
Elliman
Added: Jul 8
Changed: Aug 17
Last Checked: Aug 26 at 1:28PM
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 Keller Williams South Watuppa
Investment Insights
Based on property information with market context.
This fully renovated residential income property offers a two-family layout with a legal ADU, giving it a 3-family feel. The first-floor and ADU will be delivered vacant. The home includes two spacious, open-concept 3-bedroom units, complemented by a separate accessory dwelling unit that provides additional flexibility.
Exterior improvements include classic cedar shingle siding, new roofs on the main home and the detached garage, and updated electrical service. The property also offers ample off-street parking and a spacious two-car garage.
Located near major highways and everyday amenities, the home is convenient to schools and local destinations, with walk and bike scores indicating a more car-dependent setting.
Exterior improvements include classic cedar shingle siding, new roofs on the main home and the detached garage, and updated electrical service. The property also offers ample off-street parking and a spacious two-car garage.
Located near major highways and everyday amenities, the home is convenient to schools and local destinations, with walk and bike scores indicating a more car-dependent setting.
Key Highlights
- Fully renovated 2‑family home with a legal ADU (ADU delivered vacant).
- Main and second units: two open‑concept 3‑bedroom units.
- Additional accessory dwelling unit provides flexibility for rental income or multigenerational living.
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
$54,256
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
7.59%
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%
$1,085,120
$1.1M
Cap Rate 7%
$775,086
$775.1K
Cap Rate 9%
$602,844
$602.8K
Market Conditions
NOI Build-Up for 3,036 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
$83.8K $27.60/SF
− Vacancy
−$6.3K −$2.07/SF
EGI
$77.5K $25.53/SF
− OpEx
−$23.3K −$7.66/SF
NOI
$54.3K $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%
$1,085,120
Cap Rate 7%
$775,086
Cap Rate 9%
$602,844
Alternative Uses
Best Use
Multifamily LT 5
$775.1K
$678.2K – $904.3K
NOI $54,256 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$720.3K
$630.3K – $840.4K
NOI $50,423 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,421 @ 7.0% cap · market cap 18.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,372
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?
Triplex - Fully renovated two-family home with a legal ADU, delivering two open-concept three-bedroom units plus an additional accessory dwelling unit.
Where is this triplex located?
The property is located at 435-437 Stetson St Fall River, MA.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Fully renovated 2‑family home with a legal ADU (ADU delivered vacant).; Main and second units: two open‑concept 3‑bedroom units.; Additional accessory dwelling unit provides flexibility for rental income or multigenerational living.
