Triplex with Two-Car
For Sale
Under Contract
$695,000
155 Lowden Street, Pawtucket, RI 02860
MULTI_FAMILY - Pawtucket, RI
Property Size2,636 SF
Lot Size0.11 Acres
Price / SF$263.66
Days on Market15
Property Features for 155 Lowden Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bathroom 3, Basement, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 2
Parking
6
Interior features
Wall (Dry Wall), Stairs, Plumbing (Mixed), Insulation (Ceiling), Insulation (Walls)
Basement
Full, Partially Finished
Appliances
Gas Water Heater, Dishwasher, Dryer, Disposal, Microwave, Oven/Range, Refrigerator, Washer
Subdivision
Oak Hill
Lot features
Paved Driveway
Standard status
Active Under Contract
Size
2,636 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7603
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s)
Amenities
garden
laundry
storage
Building Details
Year built
1952
Floors in Building
3
Number of units
3
Flooring type
Carpet, Hardwood
Building materials
Dry Wall, Other Siding, Vinyl Siding
Listing Agency:
Residential Properties Ltd.
(401) 274-6740
Listed By:
Jim DeRentis
(401) 439-7705
Added: Jul 29
Changed: Aug 9
Last Checked: Aug 12 at 9:06AM
MLS# 1418999
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.
Investment Insights
Based on property information with market context.
This 3-family (triplex) home sits on a 0.1148-acre lot and totals 2,636 square feet, built in 1952. Set behind a thick privacy hedge, it features a large driveway and a two-car garage. The first-floor unit can function as an owner’s suite with its own private front door entrance, offering three bedrooms, a sizable kitchen, a full bathroom, and a private finished rec room in the basement that adds over 400 square feet of additional living space.
The upper level includes two identical one-bedroom units, each with a cozy living room, fully equipped kitchen, and a full bathroom. Laundry machines are located in a basement utility room and service all three units. The home also includes separate utilities, including a house gas and electric meter, with additional storage in the basement.
The property provides a straightforward live-in-and-collect structure, with options to occupy the first-floor unit while using the upstairs units for additional support, or rent all three units.
The upper level includes two identical one-bedroom units, each with a cozy living room, fully equipped kitchen, and a full bathroom. Laundry machines are located in a basement utility room and service all three units. The home also includes separate utilities, including a house gas and electric meter, with additional storage in the basement.
The property provides a straightforward live-in-and-collect structure, with options to occupy the first-floor unit while using the upstairs units for additional support, or rent all three units.
Key Highlights
- 0.1148‑acre lot with a large driveway and two‑car garage
- Total building size 2,636 SF
- Built in 1952
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,891
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$877,820
$877.8K
Cap Rate 7%
$627,014
$627.0K
Cap Rate 9%
$487,678
$487.7K
Market Conditions
NOI Build-Up for 2,636 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.1K $25.44/SF
− Vacancy
−$4.4K −$1.65/SF
EGI
$62.7K $23.79/SF
− OpEx
−$18.8K −$7.14/SF
NOI
$43.9K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$877,820
Cap Rate 7%
$627,014
Cap Rate 9%
$487,678
Alternative Uses
Best Use
Multifamily LT 5
$627.0K
$548.6K – $731.5K
NOI $43,891 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$497.6K
$435.4K – $580.6K
NOI $34,833 @ 7.0% cap · market cap 5.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,608
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - RM-zoned triplex with natural gas heat, window AC, public sewer, and a private basement rec room addition.
Where is this triplex located?
The property is located at 155 Lowden Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 0.1148‑acre lot with a large driveway and two‑car garage; Total building size 2,636 SF; Built in 1952
