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About this home
Fantastic Three-Family Opportunity in Fall River’s Highlands! This spacious multifamily offers a great opportunity for investors or owner-occupants, complete with two off-street parking spaces. The first-floor unit has been tastefully renovated, featuring a brand-new bathroom gutted to the studs, freshly sanded hardwood floors, new LVP flooring in the living room, kitchen and bathroom, and some new windows. Additional improvements include a new hot water heater and some updated electrical. A walkout basement offers exciting potential for future expansion, subject to proper approvals. With three units, recent updates, parking, and room to add value, this is a great opportunity to build equity and generate rental income in a desirable Highlands location.
Bank Street, located between Downtown Fall River and the waterfront along the Taunton River, is a historic and civic Fall River neighborhood with granite-and-brick streetscapes and a courthouse-era skyline. The neighborhood’s character concentrates around the Government Center area near S Main St and Bedford St, where municipal buildings, lunch counters, and small storefronts set a weekday rhythm. Architectural cues lean late-19th-century commercial blocks, with stone civic facades breaking up rows of utilitarian storefronts. The Narrows Center for the Arts adds a nightly pulse in a former mill building turned performance venue. Battleship Cove and the Fall River Heritage State Park boardwalk pull the scene toward the river’s industrial past and open-air views. Cafes and galleries cluster in pockets, giving the streets a walkable, appointment-based feel.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Living room
Living room / dining room combo
Kitchen
21 total rooms
Hardwood flooring
Bedrooms
Multiple units with one-level configurations (Unit 1: 1 level, Unit 2: 1 level, Unit 3: 1 level)
Looking for an investment Property in the Highland area of Fall River? Here is a great option at a reasonable price. This property will cash flow nicely and supports itself with only 2 rents.
MLS PIN #73181990
Dec 22, 2023
Sold
$455,000
$161/sq ft
Nov 20, 2023
Listed
$399,000
$141/sq ft
+26
Lowest priced 3 family in the Fall River. This is a Fixer upper and will not pass for standard FHA Financing due to condition. (See Disclosures). Subject to Seller finding suitable housing. Property will be transferred vacant. New roof installed 7years ago and first floor unit has baseboard heating while 2nd and 3rd floor have space heaters.
MLS PIN #60612223
Aug 3, 1999
Sold
$155,000
$55/sq ft
Mar 1, 1999
Listed
$164,900
$58/sq ft
Year
Property tax
Land + Additions
Assessment*
2023
$4,641 (+12.3%)
$99,800 + $278,400
$378,200
2022
$4,131 (+8.6%)
$94,200 + $233,100
$327,300
2021
$3,803 (+11.3%)
$90,000 + $185,000
$275,000
2020
$3,417 (+12.1%)
$85,900 + $150,600
$236,500
2019
$3,049 (+5.8%)
$89,800 + $119,300
$209,100
2018
$2,883 (+4.4%)
$90,400 + $106,800
$197,200
2017
$2,761 (+2.7%)
$90,400 + $106,800
$197,200
2016
$2,688 (+4.2%)
$93,200 + $104,000
$197,200
2015
$2,579 (−1.1%)
$93,200 + $104,000
$197,200
2014
$2,609 (+3.0%)
$93,200 + $114,200
$207,400
2013
$2,532 (+6.6%)
$96,100 + $116,100
$212,200
2012
$2,376 (+7.3%)
$97,000 + $119,400
$216,400
2011
$2,214 (−5.5%)
$97,000 + $119,400
$216,400
2010
$2,344 (+4.9%)
$119,700 + $139,600
$259,300
2009
$2,235
$115,200 + $162,100
$277,300
Public record
Beds
8
Baths
3
Stories
3
Lot width
—
Lot depth
—
Lot size
2,614 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
2,833
Unfinished Sq. Ft.
—
Total Sq. Ft.
2,833
Year built
1900
Style
Multi-Family (2-4 Unit)
County
Bristol County
APN
2832789
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 19, 2023.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
5/10 Heat Factor
7 days above 96° expected this year, 15 days in 30 years
8/10 Wind Factor
80% chance of strong winds in next 30 years
3/10 Air Factor
3 unhealthy days expected this year, 3 days in 30 years
Provided by First Street
Historical weather
Fall River, MA • 02720
Average low and high temperatures (°F)
35
22
36
22
49
33
58
41
67
51
78
61
82
67
79
62
74
57
64
48
53
38
40
26
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 8.9 hours in
June and 4.5 hours in December, placing it below the
U.S. average for solar exposure.
8.9 hrs
4.5 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 631 Walnut St
$744,866
$5,133 under list price of $750K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $415K to $740K.