Real Estate Investing in Fall River, Massachusetts (02723)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02723 (Fall River, MA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- Elevated poverty: 21.9% poverty rate — can affect rent collection.
What’s happening in Fall River, MA (02723)?
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Market Analysis: 02723 Fall River
ZIP 02723 in Fall River, MA carries a durable set of headwinds. Home values near $446K and rents of $1,763/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $446K asset, 02723 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 02723 and stronger Fall River ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
From an investor standpoint, 17,111 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 02723 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Fall River:
Property Strategy for 02723
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $369,268 | $1,510 | 2.9% | +9.9% | $184,634 |
| 3BR | $439,399 | $1,820 | 3.0% | +9.2% | $146,466 |
| 4BR | $439,540 | $2,170 | 3.6% | +8.8% | $109,885 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02723 Compare?
| Metric | 02723 | Fall River | Massachusetts |
|---|---|---|---|
| Home Value | $446,254 | $450,546 | $645,115 |
| 5-Year CAGR | 6.5% | 6.1% | 7.0% |
| Avg Rent | $1,763 | $1,801 | - |
| Cap Rate | 3.1% | 3.1% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02723 (Fall River, MA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $446,254 |
| Monthly Rent | $1,763 |
| Price-to-Rent | 21.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +6.2% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 02723
Population: 17,111
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 02723
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Henry Lord Community School
Matthew J Kuss Middle
Carlton M. Viveiros Elementary School
John J Doran
Letourneau Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,250 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strong is Fall River, MA for real estate investors?
Fall River, MA scores 3.0/5 for investability. Home values sit at $446K and rents near $1,763/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How high is vacancy risk in Fall River, MA?
Fall River, MA carries elevated vacancy risk. Expect stable absorption at market rents of $1,763/mo.
Is MA a landlord-friendly state?
The landlord environment in Fall River, MA is tenant-protective. Statewide rules shape most day-to-day operations for rental owners.
Is Fall River, MA a good market for FHA house hackers?
Fall River, MA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $446K price point reasonable to enter.
What is the typical rental rate in Fall River, MA?
The typical rental in Fall River, MA commands about $1,763/mo monthly. That rent profile stable cash flow against the $446K purchase basis.
You know 02723 now. You don’t know where it ranks.
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How 02723 ranks in Providence-Warwick, RI-MA
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