99 Irving St · Fall River, MA 02723

$3,300,000

23 bd · 20.0 ba · 13,555 sqft · MultiFamily public records · 79 Days on market

Built 1968 9,975 sqft lot $243/sqft · 200% above area

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Exceptional investment opportunity at 99 Irving Street in Fall River—a well-maintained 20-unit brick building Façade with Vinyl Wood frame featuring 17 renovated units with 302,952 in income a strong unit mix of 11 one-bedrooms, 8 two-bedrooms, and 1 studio. Property offers separate electric per unit, two central hot water tanks, and a coin-operated laundry room for added income potential. A paved parking lot across the street is included in the sale (garage excluded), plus additional on-site paved parking. Solid layout and recent updates position this asset well for both immediate stability and long-term upside. Conveniently located near Route 24, I-195, downtown Fall River, waterfront attractions, Bristol Community College, and public transportation, making it attractive to a broad tenant base. A rare chance to add a high-unit-count property to your portfolio.

Key facts

• Renovated units
• Paved parking lot
• 9,975 sq ft lot

Tags

• RENOVATED UNITS
• SEPARATE ELECTRIC PER UNIT
• CENTRAL HOT WATER TANKS
• COIN OPERATED LAUNDRY ROOM
• PAVED PARKING LOT
• ON SITE PAVED PARKING

What this means for you Summary

Snapshot

• This is a 20 × 1-bed/?-bath units multifamily listed at $3.30M.

Deal economics

• At list price, monthly cash flow is $5k ($63k/yr) — positive. Per door: $263/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $3.19M (3.5% below list).
• Recommended offer: $3.10M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.6% in Fall River — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 61/100 on livability (#221 in MA) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: cost of living D+, schools D, crime F.
• Fall River (suburban): math 17% / reading 28% proficiency, ranked #288 of 302 in MA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 35 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).
• At $31,854/mo this rent would consume 802% of the median local household income ($48k/yr) (locally 1335% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $23k of loan paydown is wiped out by about $99k of value loss. Plan a longer hold.
• Bristol County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($3.10M) is reasonable based on typical stale-listing flexibility.
• 35 sale attempts since 3y ago; this cycle's ask is 209424% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $185k; list at $3.30M implies a 1684% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $3,102,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 8.21%
• Cash-on-cash: 6.84%
• DSCR: 1.30
• GRM: 8.6

CMA / ARV

• ARV (median comp): $1,100,786
• List price: $3,300,000
• Delta: 199.79%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.8%
• Equity multiple: 0.78×
• Total profit: $-200,537
• Equity at exit: $492,041

10-year hold

• IRR: 3.8%
• Equity multiple: 1.27×
• Total profit: $252,093
• Equity at exit: $285,324

Cash invested: $924,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 02723

• Home prices YoY: -16.9%
• Active inventory: 35
• Price-to-rent: 172.7×

Monthly cashflow live

• Estimated rent: $31,854 high
• Mortgage (P&I): −$17,306
• Tax from tax record: −$1,216 /mo · $14,595/yr
• Insurance: −$1,375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,689
• Net cashflow: $5,268

Break-even live

Break-even rent $25,186

Max offer price $3,300,000

Occupancy floor 78%

20-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 20× units	1	—	$31,860
Total (20 units)			$31,854

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $825,000
• Closing costs: $99,000
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $3,300,000 Active 79 DOM
2. 2026-06-17
   days on market $3,300,000 Active 78 DOM
3. 2026-06-16
   days on market $3,300,000 Active 77 DOM
4. 2026-06-15
   days on market $3,300,000 Active 76 DOM
5. 2026-06-13
   days on market $3,300,000 Active 74 DOM
6. 2026-06-09
   days on market $3,300,000 Active 70 DOM
7. 2026-06-08
   days on market $3,300,000 Active 69 DOM
8. 2026-06-07
   days on market $3,300,000 Active 68 DOM
9. 2026-06-05
   days on market $3,300,000 Active 65 DOM
10. 2026-06-03
    days on market $3,300,000 Active 64 DOM
11. 2026-06-02
    days on market $3,300,000 Active 63 DOM
12. 2026-06-01
    days on market $3,300,000 Active 62 DOM
13. 2026-05-31
    days on market $3,300,000 Active 61 DOM
14. 2026-05-14
    historical $1,575
15. 2026-05-10
    listed $1,575
16. 2026-05-10
    historical $1,500
17. 2026-05-06
    listed $1,500
18. 2026-04-19
    listed $1,575
19. 2026-04-19
    historical $1,150
20. 2026-04-13
    listed $1,150
21. 2026-04-10
    price $1,575
22. 2026-04-04
    listed $1,625
23. 2026-03-31
    listed $3,300,000 New 887-char remark

    Show marketing remark (887 chars)

    Exceptional investment opportunity at 99 Irving Street in Fall River—a well-maintained 20-unit brick building Façade with Vinyl Wood frame featuring 17 renovated units with 302,952 in income a strong unit mix of 11 one-bedrooms, 8 two-bedrooms, and 1 studio. Property offers separate electric per unit, two central hot water tanks, and a coin-operated laundry room for added income potential. A paved parking lot across the street is included in the sale (garage excluded), plus additional on-site paved parking. Solid layout and recent updates position this asset well for both immediate stability and long-term upside. Conveniently located near Route 24, I-195, downtown Fall River, waterfront attractions, Bristol Community College, and public transportation, making it attractive to a broad tenant base. A rare chance to add a high-unit-count property to your portfolio.

24. 2026-03-15
    historical $1,300
25. 2026-02-15
    historical $1,350
26. 2026-02-13
    listed $1,350
27. 2026-01-22
    listed $1,350
28. 2026-01-22
    historical $1,350
29. 2026-01-07
    listed $1,350
30. 2025-12-26
    historical $1,275
31. 2025-12-24
    listed $1,275
32. 2025-12-22
    historical $1,275
33. 2025-12-16
    listed $1,275
34. 2025-12-01
    historical $1,350
35. 2025-11-21
    listed $1,350
36. 2025-11-20
    historical $1,350
37. 2025-11-06
    price $1,350
38. 2025-11-01
    historical $1,275
39. 2025-10-31
    listed $1,275
40. 2025-10-31
    historical $1,275
41. 2025-10-15
    price $1,275
42. 2025-10-15
    price $1,400
43. 2025-09-27
    price $1,550
44. 2025-08-15
    listed $1,400
45. 2025-07-23
    listed $1,650
46. 2025-06-25
    historical $1,650
47. 2025-06-04
    listed $1,650
48. 2025-04-11
    historical $1,400
49. 2025-03-29
    listed $1,400
50. 2024-12-08
    historical $1,400

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $14,595 · $1,216/mo
• Projected year-2 tax: $27,592 · $2,299/mo
• Expected delta: +$12,998/yr (+$1,083/mo · 89.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $382,248
• − Mortgage interest: −$184,851
• − Property taxes: −$14,595
• − Insurance: −$16,500
• − Repairs & maintenance: −$30,580
• − Management: −$30,580
• − Depreciation: −$96,000
• Taxable income: $9,142
• Est. tax owed @ 24.0%: −$2,194
• After-tax cash flow: $61,020/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fall River
• NCES district ID: 2504830
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $35,773
• Composite: 18.59/100
• National rank: #8905
• State rank: #288 of 302 in MA

Livability — Fall River

• Score: 61/100
• State rank: #221
• US rank: #18220

Category grades

Amenities B- Commute F Cost of living D+ Crime F Employment D- Housing B- Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fall River, MA
• County: Bristol County · 342,083 people
• City population: 93,033
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 17,067
• Household income: $47,633
• Rent vs Own: 68.2% rent · 31.8% own
• Severe rent burden: 1335.0

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 570,212 people
• By 2030: 571,181 · +0.2%
• By 2040: 565,389 · -0.8%
• By 2050: 552,141 · -3.2%
• By 2075: 520,923 · -8.6%
• By 2100: 474,363 · -16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 16% Two or more races 14% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Russian 34% Lithuanian 6% Estonian 3%
• Foreign-born: 24% · Canada, Vietnam, China
• Languages at home: 58% English-only · Other Indo-European 26% Spanish 13% French/Haitian/Cajun 1%

Political lean MEDSL · Bristol

• 2024 margin: Toss-up / Even · D 49.8% · R 48.5% · Other 1.8%
• 2008→2024 swing: -21.9pp toward R · 2008: 23.2pp · 2024: 1.3pp
• All cycles: 2024: D+1.3 2020: D+12.0 2016: D+9.3 2012: D+20.5 2008: D+23.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.57%
• Current HPI: 347.6737
• Rent YoY: —
• Metro: Providence-Warwick, RI-MA
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

-99.6% since first listed

74 events — show timeline

• 2026-05-14 Rental Removed $1,575 RENTALBEAST
• 2026-05-10 Listed for Rent $1,575 RENTALBEAST
• 2026-05-10 Rental Removed $1,500 RENTEC
• 2026-05-06 Listed for Rent $1,500 RENTEC
• 2026-04-19 Listed for Rent $1,575 RENTEC
• 2026-04-19 Rental Removed $1,150 RENTEC
• 2026-04-13 Listed for Rent $1,150 RENTALBEAST
• 2026-04-10 Price Changed $1,575 RENTEC
• 2026-04-04 Listed for Rent $1,625 RENTEC
• 2026-03-31 Listed $3,300,000 MLS PIN
• 2026-03-15 Rental Removed $1,300 RENTEC
• 2026-02-15 Rental Removed $1,350 RENTEC
• 2026-02-13 Listed for Rent $1,350 RENTEC
• 2026-01-22 Listed for Rent $1,350 RENTEC
• 2026-01-22 Rental Removed $1,350 RENTEC
• 2026-01-07 Listed for Rent $1,350 RENTEC
• 2025-12-26 Rental Removed $1,275 RENTALBEAST
• 2025-12-24 Listed for Rent $1,275 RENTALBEAST
• 2025-12-22 Rental Removed $1,275 RENTEC
• 2025-12-16 Listed for Rent $1,275 RENTEC
• 2025-12-01 Rental Removed $1,350 RENTEC
• 2025-11-21 Listed for Rent $1,350 RENTEC
• 2025-11-20 Rental Removed $1,350 RENTEC
• 2025-11-06 Price Changed $1,350 RENTEC
• 2025-11-01 Rental Removed $1,275 RENTEC
• 2025-10-31 Listed for Rent $1,275 RENTEC
• 2025-10-31 Rental Removed $1,275 RENTEC
• 2025-10-15 Price Changed $1,275 RENTEC
• 2025-10-15 Price Changed $1,400 RENTEC
• 2025-09-27 Price Changed $1,550 RENTEC
• 2025-08-15 Listed for Rent $1,400 RENTEC
• 2025-07-23 Listed for Rent $1,650 RENTEC
• 2025-06-25 Rental Removed $1,650 RENTEC
• 2025-06-04 Listed for Rent $1,650 RENTEC
• 2025-04-11 Rental Removed $1,400 RENTEC
• 2025-03-29 Listed for Rent $1,400 RENTEC
• 2024-12-08 Rental Removed $1,400 RENTALBEAST
• 2024-12-05 Listed for Rent $1,400 RENTALBEAST
• 2024-10-27 Rental Removed $1,400 RENTEC
• 2024-10-20 Rental Removed $1,400 RENTEC
• 2024-10-20 Listed for Rent $1,400 RENTEC
• 2024-10-17 Listed for Rent $1,400 RENTEC
• 2024-10-17 Rental Removed $1,400 RENTALBEAST
• 2024-10-05 Listed for Rent $1,400 RENTALBEAST
• 2024-10-05 Rental Removed $1,400 RENTALBEAST
• 2024-10-04 Listed for Rent $1,400 RENTALBEAST
• 2024-10-04 Rental Removed $1,400 RENTEC
• 2024-10-03 Listed for Rent $1,400 RENTEC
• 2024-08-30 Rental Removed $1,400 RENTEC
• 2024-08-28 Listed for Rent $1,400 RENTEC
• 2024-08-07 Rental Removed $1,400 RENTEC
• 2024-07-30 Listed for Rent $1,400 RENTEC
• 2024-07-12 Rental Removed $1,400 RENTEC
• 2024-06-05 Listed for Rent $1,400 RENTEC
• 2024-04-25 Rental Removed $1,400 RENTEC
• 2024-04-23 Listed for Rent $1,400 RENTEC
• 2024-04-12 Rental Removed $1,350 RENTEC
• 2024-03-29 Listed for Rent $1,350 RENTEC
• 2024-02-29 Rental Removed $1,300 RENTEC
• 2024-02-18 Listed for Rent $1,300 RENTEC
• 2024-02-18 Rental Removed $1,300 RENTEC
• 2024-02-09 Listed for Rent $1,300 RENTEC
• 2024-02-08 Rental Removed $1,300 RENTEC
• 2024-02-05 Listed for Rent $1,300 RENTEC
• 2023-10-16 Rental Removed $1,600 RENTEC
• 2023-08-18 Listed for Rent $1,600 RENTEC
• 2023-08-10 Rental Removed $1,500 RENTEC
• 2023-07-23 Listed for Rent $1,500 RENTEC
• 2023-07-13 Rental Removed $1,500 RENTEC
• 2023-07-13 Rental Removed $1,500 RENTEC
• 2023-07-12 Listed for Rent $1,500 RENTEC
• 2023-07-12 Listed for Rent $1,250 RENTEC
• 1993-12-14 Sold (Public Records) $185,000 Public Records
• 1992-03-18 Sold (Public Records) $410,000 Public Records

Property tax history

+5.3%/yr

Latest (2023): $14,595 · +8.1% YoY. Source: county tax records.