Renovated Triplex with
New
For Sale
$749,999
631 Walnut St, Fall River, MA 02720
First-floor improvements include a new bathroom, refreshed flooring, select windows, and electrical updates.
Property Size2,833 SF
Price / SF$264.74
Days on Market2
Property Features for 631 Walnut St
General Information
Standard status
Active
Size
2,833 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
Oliver Figuereo, Executive Real Estate, Inc
(617) 581-5299
Listed By:
Walker Residential Property · License #9561525
(617) 581-5299
Source:
Walkerresidentialproperty
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 30 at 3:58PM
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 Oliver Figuereo, Executive Real Estate, Inc
Investment Insights
Based on property information with market context.
This 2,833-square-foot triplex, built in 1900, contains three residential units and includes two off-street parking spaces. The first-floor apartment has received several updates, including a bathroom rebuilt to the studs, refinished hardwood flooring, new LVP in the living room, kitchen, and bathroom, select replacement windows, a new hot water heater, and electrical improvements.
Located at 631 Walnut St in Fall River’s Highlands, the property is zoned A-2. A walkout basement provides additional space, with any future expansion subject to required approvals.
Located at 631 Walnut St in Fall River’s Highlands, the property is zoned A-2. A walkout basement provides additional space, with any future expansion subject to required approvals.
Key Highlights
- Three‑unit triplex with 2,833 square feet of property size
- Two off‑street parking spaces
- First‑floor bathroom rebuilt to the studs
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
$50,629
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
6.75%
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%
$1,012,580
$1.0M
Cap Rate 7%
$723,271
$723.3K
Cap Rate 9%
$562,544
$562.5K
Market Conditions
NOI Build-Up for 2,833 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
$78.2K $27.60/SF
− Vacancy
−$5.9K −$2.07/SF
EGI
$72.3K $25.53/SF
− OpEx
−$21.7K −$7.66/SF
NOI
$50.6K $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%
$1,012,580
Cap Rate 7%
$723,271
Cap Rate 9%
$562,544
Alternative Uses
Best Use
Multifamily LT 5
$723.3K
$632.9K – $843.8K
NOI $50,629 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$672.2K
$588.1K – $784.2K
NOI $47,051 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,767 @ 7.0% cap · market cap 16.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,862
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 - First-floor improvements include a new bathroom, refreshed flooring, select windows, and electrical updates.
Where is this triplex located?
The property is located at 631 Walnut St Fall River, MA.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Three‑unit triplex with 2,833 square feet of property size; Two off‑street parking spaces; First‑floor bathroom rebuilt to the studs
