Updated Triplex with New
New
For Sale
$639,000
89 Rockland Street, Fall River, MA 02724
Three occupied units benefit from recent exterior, mechanical, and insulation improvements.
Property Size2,871 SF
Price / SF$222.57
Days on Market3
Property Features for 89 Rockland Street
General Information
Standard status
Active
Size
2,871 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams South Watuppa
(508) 677-3233
Listed By:
Fatima Pires
(978) 658-2345
Source:
Wilsonwolfe
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 30 at 4:08PM
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 three-unit residential income property includes a series of recent capital improvements. The roof was replaced in 2023, followed by exterior painting during the same year. Soffit, fascia boards, and gutters were updated in October 2024, while unit 3 received a new water heater in June 2024. An updated space heater was installed in November 2024, and whole-house blown-in insulation was completed in July 2025.
All three units are occupied by Tenants at Will. Built in 1900, the property offers an established multifamily configuration with improvements addressing exterior maintenance, mechanical equipment, and energy efficiency.
All three units are occupied by Tenants at Will. Built in 1900, the property offers an established multifamily configuration with improvements addressing exterior maintenance, mechanical equipment, and energy efficiency.
Key Highlights
- Three‑unit multifamily property with all units occupied by Tenants at Will
- Roof replaced in 2023 and exterior painted in 2023
- Soffit, fascia boards, and gutters updated in October 2024
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
$51,308
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
8.03%
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%
$1,026,160
$1.0M
Cap Rate 7%
$732,971
$733.0K
Cap Rate 9%
$570,089
$570.1K
Market Conditions
NOI Build-Up for 2,871 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
$79.2K $27.60/SF
− Vacancy
−$5.9K −$2.07/SF
EGI
$73.3K $25.53/SF
− OpEx
−$22.0K −$7.66/SF
NOI
$51.3K $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%
$1,026,160
Cap Rate 7%
$732,971
Cap Rate 9%
$570,089
Alternative Uses
Best Use
Multifamily LT 5
$733.0K
$641.4K – $855.1K
NOI $51,308 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$681.2K
$596.0K – $794.7K
NOI $47,682 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,387 @ 7.0% cap · market cap 19.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,503
Businesses Nearby
Explore this area
Business Placement
Demographics for 02724, MA
18,050
Population
8,808
Households
2
Avg Household Size
38
Median Age
15%
College-Educated
76%
High-School Grad
1.8 sq mi
ZIP Area
10,028
Density / Sq Mi
$49,809
Median Household Income
$42,334
Median Earnings
$1,105
Median Rent
$368,300
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 - Three occupied units benefit from recent exterior, mechanical, and insulation improvements.
Where is this triplex located?
The property is located at 89 Rockland Street Fall River, MA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Three‑unit multifamily property with all units occupied by Tenants at Will; Roof replaced in 2023 and exterior painted in 2023; Soffit, fascia boards, and gutters updated in October 2024
