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    The Largest CRE Database in the US with Over 1 Million Listings

    1088 Main St Hopkinton, RI 02832

    Sponsored
    For Sale
    Under Contract
    $540,000

    MULTI_FAMILY - Hopkinton, RI

    Type:Apartment
    Lot size:
    1.24 Acres
    Days on Market:
    24
    Last Refresh:
    Feb 12 at 4:06 am

    Property Features for 1088 Main St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Active Under Contract
    Zoning
    R-1
    Rooms
    Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 2, Basement, Bedroom 5
    Bedrooms
    5
    Bathrooms
    3
    Parking
    4
    Parking features
    Garage
    Patio and Porch features
    Porch
    Interior features
    Wall (Dry Wall), Attic, Plumbing (Mixed), Insulation (Unknown)
    Exterior features
    Porch
    Appliances
    Electric Water Heater, Dryer, Exhaust Fan, Range Hood, Oven/Range, Refrigerator, Washer
    Lot size
    1.24 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Oil, Baseboard
    Cooling system
    Window Unit(s)
    Water source
    Well, Private
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1900
    Floors in Building
    3
    Number of units
    3
    Flooring type
    Hardwood, Laminate, Carpet
    Building materials
    Dry Wall, Shingles, Wood

    We can help!

    Listing Contact
    Delaine Wright

    Coldwell Banker Cahoone Realtors (401) 596-6333

    Listing agent Delaine Wright (401) 787-8165

    Listing date Jan 20, 2026

    MLS# 1391717 Listing URL

    Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Hope Valley Multifamily Investment Opportunity

    This three-unit multifamily property is located in the rural setting of Hope Valley, directly abutting the Wood River. Constructed in 1900, the property offers a blend of historic charm and investment potential. The units are spacious and bright. Units 1 and 2 each feature two bedrooms, while unit 3 on the top floor offers one bedroom. Situated on a 1.24-acre lot, the property includes an expansive and private backyard suitable for gardening, relaxation, or access to the river. The property is zoned R-1. The property needs some renovations, which could significantly increase its value. It is suitable for owner-occupants, long-term rentals, or short-term vacation rentals. The location provides easy access to Route 95 for travel north to Providence and Boston, west on Route 138 to Connecticut, and south or east to the Rhode Island shore.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hopkinton
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.709248
    Latitude
    41.510498

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    FAQs

    What type of property is this?
    Triplex - Three-unit property in Hope Valley with river access.
    Where is this triplex located?
    The property is located at 1088 Main St Hopkinton, RI.
    What is the asking price?
    The asking price for this property is $540,000.
    What are key features of this property?
    This property features: - Multifamily property with 3 units, perfect for owner-occupancy or rentals.; - Waterfront property on the Wood River with a large, private backyard.; - Convenient location with easy access to Rt 95 and Rt 138.
    (401) 596-6333
    Request Owner's contact information
    1088 Main St Hopkinton, RI 02832
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    Hopkinton, RI 02832
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1088 Main St Hopkinton, RI 02832
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    We can help!
    Listing Contact
    Delaine Wright
    (401) 596-6333
    Learn more
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