77 Fulton St · Fall River, MA 02720

$520,000

6 bd · 2.5 ba · 2,394 sqft · MultiFamily public records · 15 Days on market

Built 1925 5,998 sqft lot Est $658k · 21% under

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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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.5/10.0
• Rent growth +3.9/5.0
• Livability +3.1/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

WE CO-BROKE ON A RECIPROCAL BASIS

Key facts

• 2 family property
• Off street parking
• North end location

Tags

• 2 FAMILY PROPERTY
• OFF STREET PARKING
• NORTH END LOCATION
• STRONG RENTAL POTENTIAL

Property features AI

Finance

• Financial info: Active listing
• HOA & community: Not a senior community

Exterior

• Parking: 2-car garage; 2 covered parking spaces; 3 open parking spaces; 5 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Multi Family property; 3 stories; Approximately 2,394 total building area
• Construction: Frame construction; Year built approximate (public records)
• Exterior features: Shingle roof; Paved driveway

Interior

• Bedrooms: Unit 1: 2 levels; Unit 2: 1 level
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Interior features: 11 total rooms; Fireplace (1)
• Laundry & utility: Washer and dryer will be removed prior to sale

What this means for you Summary

Snapshot

• This is a 2 × 6.0-bed/2.5-bath units multifamily listed at $520k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $534/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $520k).
• Recommended offer: $512k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: Rents rising fast (+5.8%/yr); 62 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).
• At $5,475/mo this rent would consume 106% of the median local household income ($62k/yr) (locally 2239% 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 $4k of loan paydown is wiped out by about $16k 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.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $146k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($512k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 33y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $405k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• 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 $512,200 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.80%
• DSCR: 1.39
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $658,350
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 Weetamoe St	0.36mi	6/2.0	2,504 (+5%)	6mo	$678,950	$271	69
172 Stewart St	0.42mi	6/3.0	2,453 (+2%)	14mo	$680,000	$277	62
376 N Underwood St	0.45mi	6/2.0	2,196 (-8%)	4mo	$425,000	$194	60
100-102 Hood St	0.36mi	6/3.0	2,490 (+4%)	18mo	$569,900	$229	60
1000 Riverside Ave	0.49mi	6/2.0	2,592 (+8%)	5mo	$765,000	$295	57
243 Crescent St	0.56mi	7/3.0 (+1)	2,281 (-5%)	10mo	$650,000	$285	51
536 N Underwood St	0.37mi	6/2.0	2,736 (+14%)	9mo	$500,000	$183	50
663-667 June St	0.60mi	6/3.0	2,560 (+7%)	14mo	$705,000	$275	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.76% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-759
• Equity at exit: $77,534

10-year hold

• IRR: 12.0%
• Equity multiple: 2.06×
• Total profit: $154,249
• Equity at exit: $44,960

Cash invested: $145,600 (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 02720

• Home prices YoY: -15.1%
• Rents YoY: 5.8%
• Active inventory: 62
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $5,475 medium
• Mortgage (P&I): −$2,727
• Tax from tax record: −$314 /mo · $3,767/yr
• Insurance: −$217
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,150
• Net cashflow: $1,068

Break-even live

Break-even rent $4,123

Max offer price $520,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	6.0	2.5	$5,474
Total (2 units)			$5,475

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: $130,000
• Closing costs: $15,600
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $520,000 Active 15 DOM
2. 2026-06-17
   days on market $520,000 Active 14 DOM
3. 2026-06-16
   days on market $520,000 Active 13 DOM
4. 2026-06-15
   days on market $520,000 Active 12 DOM
5. 2026-06-13
   days on market $520,000 Active 10 DOM
6. 2026-06-09
   days on market $520,000 Active 6 DOM
7. 2026-06-08
   days on market $520,000 Active 5 DOM
8. 2026-06-08
   status $520,000 Active 4 DOM
9. 2026-06-07
   days on market $520,000 New 4 DOM
10. 2026-06-03
    remarks 699-char remark
11. 2026-06-03
    listed $520,000 New 1 DOM

ⓘ 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: $3,767 · $314/mo
• Projected year-2 tax: $5,082 · $423/mo
• Expected delta: +$1,314/yr (+$110/mo · 34.9%)

ⓘ 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 6/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,700
• − Mortgage interest: −$29,128
• − Property taxes: −$3,767
• − Insurance: −$2,600
• − Repairs & maintenance: −$5,256
• − Management: −$5,256
• − Depreciation: −$15,127
• Taxable income: $4,566
• Est. tax owed @ 24.0%: −$1,096
• After-tax cash flow: $11,717/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): 30,940
• Household income: $62,196
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 2239.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 11% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 5% Dominican 1%
• Common ancestry: Russian 37% Lithuanian 7% Romanian 2%
• Foreign-born: 21% · Canada, China, Jamaica
• Languages at home: 66% English-only · Other Indo-European 21% Spanish 8% French/Haitian/Cajun 2%

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: ▼ -63.98%
• Current HPI: 360.4882
• Rent YoY: ▲ 5.76%
• 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

+372.7% since first listed

10 events — show timeline

• 2026-06-03 Listed $520,000 MLS PIN
• 2023-06-05 Sold (Public Records) $405,000 Public Records
• 2008-04-25 Sold (Public Records) $165,000 Public Records
• 2008-03-20 Sold (Public Records) $197,000 Public Records
• 1999-12-06 Sold (Public Records) $112,000 Public Records
• 1999-12-06 Sold (MLS) $112,000 MLS PIN
• 1999-04-21 Listed $112,000 MLS PIN
• 1994-04-06 Sold (Public Records) $110,000 Public Records
• 1994-03-31 Sold (MLS) $110,000 MLS PIN
• 1993-10-25 Listed $110,000 MLS PIN

Property tax history

+4.7%/yr

Latest (2023): $3,767 · +8.8% YoY. Source: county tax records.