3-Unit Multifamily
498 Tecumseh, Fall River, MA 02721
For Sale
New
$649,900
Three apartments include a remodeled third-floor residence and fourth-floor space with expansion or additional-unit potential.
Property Size3,550 SF
Price / SF$183.07
Days on Market5
Property Features for 498 Tecumseh
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
HomeSmart First Class Realty
(508) 297-7270
Listed By:
D. Brian Colville III
(781) 812-7379
Source:
Lockandkeyre
Added: Nov 8
Changed: Nov 12
Last Checked: Nov 12 at 7:26AM
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 HomeSmart First Class Realty
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Investment Insights
Based on property information with market context.
This three-unit property contains approximately 3,550 square feet on a roughly 0.29-acre site. The apartments consist of one two-bedroom, one-bath unit and two three-bedroom, one-bath units; the third-floor residence has been remodeled. The fourth floor could support an expansion of that residence or a potential fourth apartment. Other features include vinyl siding, a new roof, tankless gas hot water, updated 220-volt electrical service and an unfinished basement. A paved driveway provides off-street parking for four cars, and the property also includes a one-car garage.
The sale includes a second lot at 494 Tecumseh St.
The sale includes a second lot at 494 Tecumseh St.
Key Highlights
- Approximately 3,550 square feet on a roughly 0.29‑acre site
- Three apartments: one 2‑bedroom unit and two 3‑bedroom units, each with 1 full bath
- Remodeled third‑floor unit; fourth floor has potential for expansion or a fourth apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,959
Cap Rate
9.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,179,180
$1.2M
Cap Rate 7%
$842,271
$842.3K
Cap Rate 9%
$655,100
$655.1K
Market Conditions
NOI Build-Up for 3,550 SF
Gross rent
$115.0K $32.40/SF
− Vacancy
−$7.8K −$2.20/SF
EGI
$107.2K $30.20/SF
− OpEx
−$48.2K −$13.59/SF
NOI
$59.0K $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 Rate 5%
$1,179,180
Cap Rate 7%
$842,271
Cap Rate 9%
$655,100
Alternative Uses
Best Use
Multifamily LT 5
$906.3K
$793.0K – $1.06M
NOI $63,442 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$842.3K
$737.0K – $982.7K
NOI $58,959 @ 7.0% cap · market cap 9.07%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,332 @ 7.0% cap · market cap 23.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,438
Businesses Nearby
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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
$362,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Fall River, MA
Properties on Market for Triplexes in Fall River
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments include a remodeled third-floor residence and fourth-floor space with expansion or additional-unit potential.
Where is this triplex located?
The property is located at 498 Tecumseh Fall River, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Approximately 3,550 square feet on a roughly 0.29‑acre site; Three apartments: one 2‑bedroom unit and two 3‑bedroom units, each with 1 full bath; Remodeled third‑floor unit; fourth floor has potential for expansion or a fourth apartment
