Fall River Turnkey 3-Family
For Sale
$649,900
51 Summerfield St, Fall River, MA 02720
Well-maintained 3-family in Fall River's North End.
Property Size2,808 SF
Price / SF$231.45
Days on Market114
Property Features for 51 Summerfield St
General Information
Standard status
Active
Size
2,808 SF
Property subtype
Multi-Family
Zoning
G
Net Operating Income
$34,800
Taxes and HOA fees
Annual Taxes
$5,312
Building Details
Building Size
2,808 SF
Year Built
1900
Stories
3
Listing Agency:
REMAX Executive Realty
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 25
Changed: Sep 14
Last Checked: Sep 14 at 6:44AM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
Located in the North End of Fall River, this well-maintained 3-family home presents an income opportunity. The property contains three apartments. Each apartment includes 2 bedrooms, a modern kitchen with appliances, an updated bathroom, and a large living room. Central heating is installed in all units. The property is suitable for investors or owner-occupants seeking an income-producing asset. The building size is 2,808 square feet.
Key Highlights
- Turnkey 3‑family home offering immediate rental income.
- Located in the desirable North End of Fall River.
- Each apartment features 2 bedrooms, a modern kitchen with appliances, and an updated bathroom.
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
$50,182
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
7.72%
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%
$1,003,640
$1.0M
Cap Rate 7%
$716,886
$716.9K
Cap Rate 9%
$557,578
$557.6K
Market Conditions
NOI Build-Up for 2,808 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
$77.5K $27.60/SF
− Vacancy
−$5.8K −$2.07/SF
EGI
$71.7K $25.53/SF
− OpEx
−$21.5K −$7.66/SF
NOI
$50.2K $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%
$1,003,640
Cap Rate 7%
$716,886
Cap Rate 9%
$557,578
Alternative Uses
Best Use
Multifamily LT 5
$716.9K
$627.3K – $836.4K
NOI $50,182 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$666.2K
$583.0K – $777.3K
NOI $46,636 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,702 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,740
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
View Realmo Analytics
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 - Well-maintained 3-family in Fall River's North End.
Where is this triplex located?
The property is located at 51 Summerfield St 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: Turnkey 3‑family home offering immediate rental income.; Located in the desirable North End of Fall River.; Each apartment features 2 bedrooms, a modern kitchen with appliances, and an updated bathroom.
