Multi Family at 248-250 Jefferson St, Fall River MA 02721
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$689,999

248-250 Jefferson St, Fall River MA 02721
Fall River, MA 02721
Listed by Jennifer Eaton
Bedrooms
6
Bathrooms
2.5
Living area
4,266 sqft
Year built
1900

About this home

Don’t miss this exceptional mixed-use investment opportunity in the heart of Fall River! This well-maintained property features a street-level commercial space with a long-term lease in place, plus two spacious residential units above. Unit 3 can be delivered vacant, offering flexibility for an owner-occupant or added leasing potential. Each residential unit includes 3 generously sized bedrooms, a large living room, formal dining room, and an updated kitchen with granite countertops. HW floors add warmth and charm throughout. Recent improvements include a new electrical panel, new hot water heaters for the 1st and 3rd units, and a new furnace. Conveniently located less than half a mile from the highway and within walking distance to shops, restaurants, and public transportation. Situated near the Taunton River and a short drive to the ocean and Newport. Off-street parking for 5 vehicles—a rare city find. Ideal for investors or owner-occupants seeking flexibility and long-term value.

Property details

MLS
MLS Property Information Network
MLS #
73476887
Property type
Multi Family
Subdivision
N/A
Status
Active
Days on market
254
On market date
February 12, 2026
Stories
3
Total bathrooms
2.5
Garage spaces
N/A
Parking spaces
5
Lot size
0.08 acres
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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

Elementary
William S Greene
0.51 mi away · Grades -1-5
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
663
Student:teacher ratio
14.4:1
District
Fall River
Middle
Talbot Innovation School
1.23 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
620
Student:teacher ratio
11.7:1
District
Fall River
HighCharter
Argosy Collegiate Charter School
0.99 mi away · Grades 6-12
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
566
Student:teacher ratio
13.2:1
District
Argosy Collegiate Charter School (District)

Walkability

Blended score for Fall River's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). EPA National Walkability Index only -- nearby-amenity data not cached yet for this area.

81
Highly walkable
out of 100
EPA National Walkability Index
16.2 / 20 -- Most walkable

Market position

How this listing compares to current activity in Fall River, from live MLS data.

On the market 254 days -- 142 more days than Fall River's current average of 112 days.
For reference, the median list price across 736 active listings in Fall River right now is $375,000.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$4,305/mo
$138,000 down
$551,999 loan
Principal & interest$3,580
Property tax (est.)$575
Home insurance (est.)$150

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Data source: Listing information provided by MLS Property Information Network via Trestle/CoreLogic. Last updated May 22, 2026.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.