51 Summerfield St · Fall River, MA 02720

$649,900

6 bd · 3.0 ba · 2,808 sqft · MultiFamily public records · 27 Days on market

Built 1900 3,228 sqft lot Est $635k · at est.

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Why this score? — see what drove the D 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 +16.0/30.0
• ARV discount +6.4/15.0
• DSCR +4.9/10.0
• Rent growth +3.9/5.0
• 1% rule +3.5/10.0
• 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: 3 units. confirmed

Listing remarks MLS

HOUSE IN MOVE-IN CONDITION GRAPE VINE IN BACK YARD

Key facts

• Central heating
• Great location
• Modern kitchen

Tags

• NORTH END
• IMMEDIATE RENTAL INCOME
• MODERN KITCHEN
• UPDATED BATHROOM
• CENTRAL HEATING
• GREAT LOCATION

Property features AI

Finance

• Other: Building total area approximately 2,808 (above grade finished area reported as 2,808); Lot size approximately 0.07 acres; Directions: off Robeson Street
• Financial info: Active listing
• HOA & community: Not a senior community

Exterior

• Parking: No open parking spaces reported
• Utilities: Public water; Public sewer
• Home design: 3-family property; 3 stories
• Construction: Approximately built (year from public records); Concrete perimeter foundation
• Exterior features: Cleared, level lot; Public road frontage

Interior

• Bedrooms: Unit 1: 1 level; Unit 2: 1 level; Unit 3: 1 level
• Bathrooms: 3 full bathrooms
• Interior features: 12 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive. Per door: $106/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 $554k (14.7% below list).
• Recommended offer: $554k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.5% 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+, crime F, commute 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.
• Zoned schools: Henry Lord Community School (math 14% / reading 21%, grade F, #811 of 938 statewide, top 87%, 815 students, 0% FRL); Morton Middle (math 18% / reading 26%, grade F, #246 of 305 statewide, top 81%, 690 students, 0% FRL); B M C Durfee High (math 19% / reading 34%, grade F, #280 of 343 statewide, top 82%, 2,460 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.8%/yr); 73 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).
• At $5,541/mo this rent would consume 107% 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 $19k 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 27 days — a 2% lower offer ($640k) is reasonable based on typical stale-listing flexibility.
• 21 sale attempts since 32y 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 $70k; list at $650k implies a 828% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $554,100 (14.7% 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 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.10%
• DSCR: 1.09
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $634,608
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45-47 Shawmut St	0.14mi	6/2.0	2,760 (-2%)	3mo	$650,000	$236	84
610 Walnut St	0.28mi	6/2.0	2,748 (-2%)	3mo	$500,000	$182	77
862 Locust St	0.29mi	6/3.0	2,519 (-10%)	4mo	$570,000	$226	66
163 Linden St	0.41mi	7/3.0 (+1)	2,720 (-3%)	6mo	$610,000	$224	66
154 Barnaby St	0.56mi	6/3.0	3,177 (+13%)	2mo	$501,000	$158	50
663-667 June St	0.53mi	6/3.0	2,560 (-9%)	14mo	$705,000	$275	49
107 Danforth	0.73mi	6/3.0	2,671 (-5%)	11mo	$630,000	$236	48
73 Weetamoe St	0.69mi	6/3.0	2,900 (+3%)	16mo	$640,000	$221	48
49 Plain St	0.61mi	6/3.0	2,567 (-9%)	12mo	$510,000	$199	47
146 Franklin St	0.61mi	6/2.0	3,052 (+9%)	8mo	$650,000	$213	46
100 Weetamoe St	0.70mi	6/2.0	2,504 (-11%)	6mo	$678,950	$271	40
172 Stewart St	0.75mi	6/3.0	2,453 (-13%)	14mo	$680,000	$277	32

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: -10.2%
• Equity multiple: 0.62×
• Total profit: $-69,442
• Equity at exit: $96,902

10-year hold

• IRR: 2.3%
• Equity multiple: 1.18×
• Total profit: $33,520
• Equity at exit: $56,191

Cash invested: $181,972 (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: 73
• Price-to-rent: 29.3×

Monthly cashflow live

• Estimated rent: $5,541 high
• Mortgage (P&I): −$3,408
• Tax from tax record: −$381 /mo · $4,568/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,164
• Net cashflow: $318

Break-even live

Break-even rent $5,139

Max offer price $649,900

Occupancy floor 89%

Sensitivity live

Price	-10% $686	-5% $502	+0% $318	+5% $134	+10% $-50
Rent	-10% $-120	-5% $99	+0% $318	+5% $537	+10% $756
Rate	-1.0pp $645	-0.5pp $483	base $318	+0.5pp $149	+1.0pp $-22

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,541
Total (3 units)			$5,541

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: $162,475
• Closing costs: $19,497
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $649,900 Active 27 DOM
2. 2026-06-18
   days on market $649,900 Active 24 DOM
3. 2026-06-17
   days on market $649,900 Active 23 DOM
4. 2026-06-16
   days on market $649,900 Active 22 DOM
5. 2026-06-15
   days on market $649,900 Active 21 DOM
6. 2026-06-13
   days on market $649,900 Active 19 DOM
7. 2026-06-09
   days on market $649,900 Active 15 DOM
8. 2026-06-08
   days on market $649,900 Active 14 DOM
9. 2026-06-07
   days on market $649,900 Active 13 DOM
10. 2026-06-05
    days on market $649,900 Active 10 DOM
11. 2026-06-03
    days on market $649,900 Active 9 DOM
12. 2026-06-02
    days on market $649,900 Active 8 DOM
13. 2026-06-01
    days on market $649,900 Active 7 DOM
14. 2026-05-31
    days on market $649,900 Active 6 DOM
15. 2026-05-25
    listed $649,900 New
16. 2000-08-14
    soldstatus $70,000 50-char remark

    Show marketing remark (50 chars)

    HOUSE IN MOVE-IN CONDITION GRAPE VINE IN BACK YARD

17. 2000-04-01
    soldstatus $90,000 181-char remark

    Show marketing remark (181 chars)

    NICE SINGLE FAMILY IN QUIET NEIGHBORHOOD FENCED IN YARD, GRE AT FOR YOUNG CHILDREN OR FOR GARDENERS. HAS A FRONT PORCH WI TH A SWING. VERY ROOMY AND MUST BE SEEN. REASONABLY PRICED.

18. 1999-02-02
    soldstatus $10,898
19. 1998-12-05
    soldstatus $44,900
20. 1998-09-29
    soldstatus $60,000
21. 1998-09-24
    soldstatus $147,000
22. 1998-09-02
    soldstatus $108,000
23. 1998-08-28
    soldstatus $135,000
24. 1998-08-25
    soldstatus $128,000
25. 1998-08-17
    soldstatus $68,000
26. 1998-08-13
    soldstatus $125,000
27. 1998-08-12
    soldstatus $122,000
28. 1998-08-12
    soldstatus $143,400
29. 1998-08-10
    soldstatus $109,900
30. 1998-08-10
    soldstatus $124,900
31. 1998-06-19
    listed $44,900
32. 1998-06-03
    listed $124,900
33. 1998-04-19
    listed $129,900
34. 1998-04-08
    listed $108,000
35. 1998-02-25
    soldstatus $108,000
36. 1998-02-19
    listed $129,900
37. 1998-01-20
    listed $148,000
38. 1998-01-17
    listed $149,900
39. 1997-12-28
    listed $130,000
40. 1997-12-16
    listed $139,900
41. 1997-12-15
    listed $115,000
42. 1997-11-04
    listed $128,000
43. 1997-10-09
    listed $70,000 50-char remark

    Show marketing remark (50 chars)

    HOUSE IN MOVE-IN CONDITION GRAPE VINE IN BACK YARD

44. 1997-09-30
    listed $60,000
45. 1997-07-07
    listed $119,900
46. 1997-03-11
    listed $109,000 181-char remark

    Show marketing remark (181 chars)

    NICE SINGLE FAMILY IN QUIET NEIGHBORHOOD FENCED IN YARD, GRE AT FOR YOUNG CHILDREN OR FOR GARDENERS. HAS A FRONT PORCH WI TH A SWING. VERY ROOMY AND MUST BE SEEN. REASONABLY PRICED.

47. 1997-01-03
    listed $68,000
48. 1995-11-20
    soldstatus $47,500
49. 1995-07-24
    soldstatus $54,000
50. 1995-05-09
    soldstatus $51,750

ⓘ 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: $4,568 · $381/mo
• Projected year-2 tax: $6,281 · $523/mo
• Expected delta: +$1,713/yr (+$143/mo · 37.5%)

ⓘ 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 ≥96°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: $66,492
• − Mortgage interest: −$36,405
• − Property taxes: −$4,568
• − Insurance: −$3,250
• − Repairs & maintenance: −$5,319
• − Management: −$5,319
• − Depreciation: −$18,906
• Taxable loss: −$7,275
• Est. tax savings @ 24.0%: +$1,746
• After-tax cash flow: $5,559/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

+496.2% since first listed

43 events — show timeline

• 2026-05-25 Listed $649,900 MLS PIN
• 2000-08-14 Sold (MLS) $70,000 MLS PIN
• 2000-04-01 Sold (MLS) $90,000 MLS PIN
• 1999-02-02 Sold (MLS) $10,898 MLS PIN
• 1998-12-05 Sold (MLS) $44,900 MLS PIN
• 1998-09-29 Sold (MLS) $60,000 MLS PIN
• 1998-09-24 Sold (MLS) $147,000 MLS PIN
• 1998-09-02 Sold (MLS) $108,000 MLS PIN
• 1998-08-28 Sold (MLS) $135,000 MLS PIN
• 1998-08-25 Sold (MLS) $128,000 MLS PIN
• 1998-08-17 Sold (MLS) $68,000 MLS PIN
• 1998-08-13 Sold (MLS) $125,000 MLS PIN
• 1998-08-12 Sold (MLS) $143,400 MLS PIN
• 1998-08-12 Sold (MLS) $122,000 MLS PIN
• 1998-08-10 Sold (MLS) $124,900 MLS PIN
• 1998-08-10 Sold (MLS) $109,900 MLS PIN
• 1998-06-19 Listed $44,900 MLS PIN
• 1998-06-03 Listed $124,900 MLS PIN
• 1998-04-19 Listed $129,900 MLS PIN
• 1998-04-08 Listed $108,000 MLS PIN
• 1998-02-25 Sold (MLS) $108,000 MLS PIN
• 1998-02-19 Listed $129,900 MLS PIN
• 1998-01-20 Listed $148,000 MLS PIN
• 1998-01-17 Listed $149,900 MLS PIN
• 1997-12-28 Listed $130,000 MLS PIN
• 1997-12-16 Listed $139,900 MLS PIN
• 1997-12-15 Listed $115,000 MLS PIN
• 1997-11-04 Listed $128,000 MLS PIN
• 1997-10-09 Listed $70,000 MLS PIN
• 1997-09-30 Listed $60,000 MLS PIN
• 1997-07-07 Listed $119,900 MLS PIN
• 1997-03-11 Listed $109,000 MLS PIN
• 1997-01-03 Listed $68,000 MLS PIN
• 1995-11-20 Sold (MLS) $47,500 MLS PIN
• 1995-07-24 Sold (MLS) $54,000 MLS PIN
• 1995-05-09 Sold (MLS) $51,750 MLS PIN
• 1995-03-09 Listed $55,000 MLS PIN
• 1995-03-09 Listed $55,000 MLS PIN
• 1995-03-09 Listed $53,500 MLS PIN
• 1994-11-27 Sold (MLS) $25,000 MLS PIN
• 1994-09-01 Listed $25,000 MLS PIN
• 1992-12-23 Sold (Public Records) $135,000 Public Records
• 1987-05-20 Sold (Public Records) $109,000 Public Records

Property tax history

+6.3%/yr

Latest (2023): $4,568 · +11.8% YoY. Source: county tax records.