1768 Pleasant St · Fall River, MA 02723

$589,999

2 bd · 2.5 ba · 4,566 sqft · MultiFamily public records · 99 Days on market

Built 1900 4,630 sqft lot $129/sqft · 15% below area Est $683k · 14% under

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Why this score? — see what drove the B- 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 +27.6/30.0
• ARV discount +13.7/15.0
• DSCR +9.7/10.0
• 1% rule +6.4/10.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Rare opportunity to own this versatile three-family mixed-use property located in the heart of Fall River.The first level features a commercial-zoned space with a large multi-use room, conference room, and private offices, ideal for a business, professional office, or creative enterprise. Above, there are two spacious 2-bedroom residential units, offering excellent rental income or the perfect live-and-work arrangement. Additional highlights include a large garage for parking or storage. This property combines prime location and flexibility making it a rare opportunity for investors or business owners looking for a dynamic mixed-use space.

Key facts

• Multi-use room
• Residential units
• Private offices

Tags

• MIXED-USE PROPERTY
• COMMERCIAL-ZONED SPACE
• MULTI-USE ROOM
• CONFERENCE ROOM
• PRIVATE OFFICES
• RESIDENTIAL UNITS

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/2.5-bath units multifamily listed at $590k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $587/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $590k).
• Recommended offer: $537k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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; 1 comparable units currently listed for rent nearby; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).
• At $6,733/mo this rent would consume 170% 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 $4k of loan paydown is wiped out by about $18k 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 $165k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($537k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $110k; list at $590k implies a 436% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $536,899 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.14% ✓
• Cap rate: 9.87%
• Cash-on-cash: 12.79%
• DSCR: 1.57
• GRM: 7.3

CMA / ARV

• ARV (median comp): $683,428
• List price: $589,999
• Delta: -13.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $16,324
• Equity at exit: $87,971

10-year hold

• IRR: 12.1%
• Equity multiple: 1.95×
• Total profit: $157,738
• Equity at exit: $51,012

Cash invested: $165,200 (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: 21.9×

Monthly cashflow live

• Estimated rent: $6,733 high
• Mortgage (P&I): −$3,094
• Tax from tax record: −$218 /mo · $2,621/yr
• Insurance: −$246
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,414
• Net cashflow: $1,761

Break-even live

Break-even rent $4,504

Max offer price $589,999

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	2.5	$6,732
Total (3 units)			$6,733

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: $147,500
• Closing costs: $17,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Eastern Ave Unit 2 Fall River, MA	2.0	1.0	3483	$1,800	$0.52	43d	1	0.52mi

Listing history 18 events

1. 2026-06-18
   days on market $589,999 Active 99 DOM
2. 2026-06-17
   days on market $589,999 Active 98 DOM
3. 2026-06-16
   days on market $589,999 Active 97 DOM
4. 2026-06-15
   days on market $589,999 Active 96 DOM
5. 2026-06-13
   days on market $589,999 Active 94 DOM
6. 2026-06-09
   days on market $589,999 Active 90 DOM
7. 2026-06-08
   days on market $589,999 Active 89 DOM
8. 2026-06-07
   days on market $589,999 Active 88 DOM
9. 2026-06-05
   days on market $589,999 Active 85 DOM
10. 2026-06-03
    days on market $589,999 Active 84 DOM
11. 2026-06-02
    days on market $589,999 Active 83 DOM
12. 2026-06-01
    days on market $589,999 Active 82 DOM
13. 2026-05-31
    days on market $589,999 Active 81 DOM
14. 2026-05-06
    price $589,999 647-char remark

    Show marketing remark (647 chars)

    Rare opportunity to own this versatile three-family mixed-use property located in the heart of Fall River.The first level features a commercial-zoned space with a large multi-use room, conference room, and private offices, ideal for a business, professional office, or creative enterprise. Above, there are two spacious 2-bedroom residential units, offering excellent rental income or the perfect live-and-work arrangement. Additional highlights include a large garage for parking or storage. This property combines prime location and flexibility making it a rare opportunity for investors or business owners looking for a dynamic mixed-use space.

15. 2026-03-31
    price $598,999 647-char remark

    Show marketing remark (647 chars)

    Rare opportunity to own this versatile three-family mixed-use property located in the heart of Fall River.The first level features a commercial-zoned space with a large multi-use room, conference room, and private offices, ideal for a business, professional office, or creative enterprise. Above, there are two spacious 2-bedroom residential units, offering excellent rental income or the perfect live-and-work arrangement. Additional highlights include a large garage for parking or storage. This property combines prime location and flexibility making it a rare opportunity for investors or business owners looking for a dynamic mixed-use space.

16. 2026-03-11
    listed $599,999 New 647-char remark

    Show marketing remark (647 chars)

    Rare opportunity to own this versatile three-family mixed-use property located in the heart of Fall River.The first level features a commercial-zoned space with a large multi-use room, conference room, and private offices, ideal for a business, professional office, or creative enterprise. Above, there are two spacious 2-bedroom residential units, offering excellent rental income or the perfect live-and-work arrangement. Additional highlights include a large garage for parking or storage. This property combines prime location and flexibility making it a rare opportunity for investors or business owners looking for a dynamic mixed-use space.

17. 2000-12-20
    soldstatus $110,000
18. 1989-10-26
    soldstatus $190,000

ⓘ 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: $2,621 · $218/mo
• Projected year-2 tax: $4,939 · $412/mo
• Expected delta: +$2,318/yr (+$193/mo · 88.4%)

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

Climate risk First Street

• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,796
• − Mortgage interest: −$33,049
• − Property taxes: −$2,621
• − Insurance: −$2,950
• − Repairs & maintenance: −$6,464
• − Management: −$6,464
• − Depreciation: −$17,164
• Taxable income: $12,085
• Est. tax owed @ 24.0%: −$2,900
• After-tax cash flow: $18,229/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

+210.5% since first listed

5 events — show timeline

• 2026-05-06 Price Changed $589,999 MLS PIN
• 2026-03-31 Price Changed $598,999 MLS PIN
• 2026-03-11 Listed $599,999 MLS PIN
• 2000-12-20 Sold (Public Records) $110,000 Public Records
• 1989-10-26 Sold (Public Records) $190,000 Public Records

Property tax history

+13.1%/yr

Latest (2010): $2,621 · +13.1% YoY. Source: county tax records.