444 Center St · Fall River, MA 02724

$799,000

9 bd · 6.0 ba · 4,593 sqft · MultiFamily public records · 71 Days on market

Built 1900 3,502 sqft lot $174/sqft · 14% above area Est $698k · 14% over

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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

Fully occupied 6-unit investment opportunity at 444 Center St in Fall River generating $88,200 in annual gross income. The property features a well-balanced unit mix of three 2-bedroom/1-bath units and three 1-bedroom/1-bath units, offering broad rental appeal and consistent occupancy. Current financials support an ~8+ cap on in-place income, with clear value-add potential through strategic improvements and rent optimization. Strong tenant base in place with immediate cash flow, complemented by continued rental growth in the Fall River market. Conveniently located with access to local amenities, this is a compelling addition to any portfolio seeking both cash flow and upside.

Key facts

• 3,502 sq ft lot
• Built 1900
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 3×2bd/1ba + 3×1bd/1ba units multifamily listed at $799k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $462/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $799k).
• Recommended offer: $751k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: 23 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).
• At $9,766/mo this rent would consume 211% of the median local household income ($56k/yr) (locally 1445% 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 $6k of loan paydown is wiped out by about $24k 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 + 3.0% rent growth), your $224k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($751k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $130k; list at $799k implies a 515% 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 $751,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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 1900 — 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: 1.22% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.87%
• DSCR: 1.66
• GRM: 6.8

CMA / ARV

• ARV (median comp): $698,356
• List price: $799,000
• Delta: 14.41%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
785 Broadway St	0.05mi	8/4.0 (-1)	4,123 (-10%)	5mo	$699,000	$170	63
268 Palmer St	0.34mi	9/3.0	4,617 (+0%)	14mo	$750,000	$162	60
36 Palmer St	0.19mi	9/3.0	4,197 (-9%)	7mo	$750,000	$179	59
452 Osborn St	0.39mi	9/3.0	4,302 (-6%)	6mo	$810,000	$188	55
516 Whipple St	0.42mi	9/3.0	4,230 (-8%)	7mo	$649,000	$153	49
168 Forest St	0.39mi	9/5.0	3,984 (-13%)	10mo	$735,000	$184	47
318 William St	0.53mi	9/3.0	4,785 (+4%)	14mo	$670,000	$140	44
487 Ridge St	0.35mi	9/3.0	3,966 (-14%)	6mo	$560,700	$141	44
223 Morgan St	0.75mi	8/5.0 (-1)	4,848 (+6%)	7mo	$600,000	$124	41
371 Osborn St	0.31mi	8/3.0 (-1)	5,194 (+13%)	8mo	$650,000	$125	40
23 Scott St	0.48mi	9/3.0	3,985 (-13%)	10mo	$689,000	$173	36
306 Mott St	0.74mi	9/3.0	4,077 (-11%)	6mo	$750,000	$184	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $46,865
• Equity at exit: $119,133

10-year hold

• IRR: 14.8%
• Equity multiple: 2.19×
• Total profit: $267,295
• Equity at exit: $69,083

Cash invested: $223,720 (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 02724

• Home prices YoY: -19.3%
• Active inventory: 23
• Price-to-rent: 39.2×

Monthly cashflow live

• Estimated rent: $9,766 high
• Mortgage (P&I): −$4,190
• Tax from tax record: −$420 /mo · $5,043/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,051
• Net cashflow: $2,772

Break-even live

Break-even rent $6,257

Max offer price $799,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,097
▸ 3× units	1	1	$4,668
Total (6 units)			$9,766

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $799,000 Active 71 DOM
2. 2026-06-17
   days on market $799,000 Active 70 DOM
3. 2026-06-16
   days on market $799,000 Active 69 DOM
4. 2026-06-15
   days on market $799,000 Active 68 DOM
5. 2026-06-13
   days on market $799,000 Active 66 DOM
6. 2026-06-09
   days on market $799,000 Active 62 DOM
7. 2026-06-08
   days on market $799,000 Active 61 DOM
8. 2026-06-07
   days on market $799,000 Active 60 DOM
9. 2026-06-05
   days on market $799,000 Active 57 DOM
10. 2026-06-03
    days on market $799,000 Active 56 DOM
11. 2026-06-02
    days on market $799,000 Active 55 DOM
12. 2026-06-01
    days on market $799,000 Active 54 DOM
13. 2026-05-31
    days on market $799,000 Active 53 DOM
14. 2026-04-08
    listed $799,000 New 684-char remark

    Show marketing remark (684 chars)

    Fully occupied 6-unit investment opportunity at 444 Center St in Fall River generating $88,200 in annual gross income. The property features a well-balanced unit mix of three 2-bedroom/1-bath units and three 1-bedroom/1-bath units, offering broad rental appeal and consistent occupancy. Current financials support an ~8+ cap on in-place income, with clear value-add potential through strategic improvements and rent optimization. Strong tenant base in place with immediate cash flow, complemented by continued rental growth in the Fall River market. Conveniently located with access to local amenities, this is a compelling addition to any portfolio seeking both cash flow and upside.

15. 1998-08-21
    soldstatus $130,000

ⓘ 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: $5,043 · $420/mo
• Projected year-2 tax: $7,435 · $620/mo
• Expected delta: +$2,392/yr (+$199/mo · 47.4%)

ⓘ 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: $117,192
• − Mortgage interest: −$44,756
• − Property taxes: −$5,043
• − Insurance: −$3,995
• − Repairs & maintenance: −$9,375
• − Management: −$9,375
• − Depreciation: −$23,244
• Taxable income: $21,403
• Est. tax owed @ 24.0%: −$5,137
• After-tax cash flow: $28,126/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): 18,505
• Household income: $55,590
• Rent vs Own: 66.6% rent · 33.4% own
• Severe rent burden: 1445.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 16% Two or more races 10% Black 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 11%
• Common ancestry: Russian 31% Lithuanian 12% Estonian 3%
• Foreign-born: 21% · Canada, China
• Languages at home: 60% English-only · Other Indo-European 24% Spanish 13% 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: ▼ -80.40%
• Current HPI: 335.9466
• 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

+514.6% since first listed

2 events — show timeline

• 2026-04-08 Listed $799,000 MLS PIN
• 1998-08-21 Sold (Public Records) $130,000 Public Records

Property tax history

+4.8%/yr

Latest (2023): $5,043 · +14.0% YoY. Source: county tax records.