Renovated Two-Family
For Sale
$605,000
45 Lafayette St, Fall River, MA 02723
Updated two-unit home with private driveway, generous yard, and modernized kitchens and baths.
Property Size1,896 SF
Price / SF$319.09
Days on Market85
Property Features for 45 Lafayette St
General Information
Standard status
Active
Size
1,896 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
G
Net Operating Income
$22,800
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,189
Building Details
Building Size
1,896 SF
Year Built
1925
Stories
2
Tenancy
Multi
Listing Agency:
Prestige Realty Experts Inc.
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 15
Changed: Sep 6
Last Checked: Sep 6 at 5:58AM
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 Prestige Realty Experts Inc.
Investment Insights
Based on property information with market context.
This beautifully renovated two-family residence features extensive improvements throughout, including a new roof, windows, siding, plumbing, kitchens, bathrooms, and flooring. The first-floor unit includes 2 bedrooms and 1 full bath, along with a remodeled kitchen and bathroom, hardwood floors, and forced hot air heating. The second-floor unit offers 2 bedrooms and 1 full bath, a spacious modern kitchen with quartz countertops and stainless steel appliances, an updated bathroom, and an energy-efficient mini-split heating and cooling system.
The exterior is designed for low maintenance and includes a private driveway and a generous yard with privacy features. The property is described as conveniently located near shopping, dining, schools, and major routes.
Both units are presented as move-in ready with modern updates, supporting owner-occupancy or rental use as part of a turnkey multi-family setup.
The exterior is designed for low maintenance and includes a private driveway and a generous yard with privacy features. The property is described as conveniently located near shopping, dining, schools, and major routes.
Both units are presented as move-in ready with modern updates, supporting owner-occupancy or rental use as part of a turnkey multi-family setup.
Key Highlights
- Renovated two‑family home built in 1925 with updated kitchens and bathrooms across both units
- First‑floor unit: 2 bedrooms, 1 full bath, remodeled kitchen and bathroom, hardwood floors, forced hot air heating
- Second‑floor unit: 2 bedrooms, 1 full bath, modern kitchen with quartz countertops and stainless steel appliances, updated bathroom, energy‑efficient mini‑split heating and cooling
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
$33,883
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
5.60%
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%
$677,660
$677.7K
Cap Rate 7%
$484,043
$484.0K
Cap Rate 9%
$376,478
$376.5K
Market Conditions
NOI Build-Up for 1,896 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
$52.3K $27.60/SF
− Vacancy
−$3.9K −$2.07/SF
EGI
$48.4K $25.53/SF
− OpEx
−$14.5K −$7.66/SF
NOI
$33.9K $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%
$677,660
Cap Rate 7%
$484,043
Cap Rate 9%
$376,478
Alternative Uses
Best Use
Multifamily LT 5
$484.0K
$423.5K – $564.7K
NOI $33,883 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$449.8K
$393.6K – $524.8K
NOI $31,489 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,824 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 02723, MA
16,084
Population
7,976
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
10,053
Density / Sq Mi
$41,789
Median Household Income
$40,140
Median Earnings
$1,058
Median Rent
$312,900
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 - Updated two-unit home with private driveway, generous yard, and modernized kitchens and baths.
Where is this duplex located?
The property is located at 45 Lafayette St Fall River, MA.
What is the asking price?
The asking price for this property is $605,000.
What are key features of this property?
This property features: Renovated two‑family home built in 1925 with updated kitchens and bathrooms across both units; First‑floor unit: 2 bedrooms, 1 full bath, remodeled kitchen and bathroom, hardwood floors, forced hot air heating; Second‑floor unit: 2 bedrooms, 1 full bath, modern kitchen with quartz countertops and stainless steel appliances, updated bathroom, energy‑efficient mini‑split heating and cooling
