Triplex Property with Single-Family
For Sale
$649,900
167 2nd Avenue, Woonsocket, RI 02895
Residential Income, Woonsocket, RI
Property Size3,070 SF
Lot Size0.13 Acres
Price / SF$211.69
Days on Market43
Property Features for 167 2nd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 4, Basement, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 3, Bedroom 8, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking
6
Parking features
None
Basement
Full, Unfinished
Appliances
Gas Water Heater
Standard status
Active
Size
3,070 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6036
Utilities
Heating system
Natural Gas, Baseboard
Building Details
Year built
1880
Number of units
3
Flooring type
Tile - Ceramic, Laminate
Building materials
Wood
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Kyle Seyboth · License #32535
(508) 726-3492
Added: Jul 15
Changed: Aug 20
Last Checked: Aug 26 at 5:06AM
MLS# 1417981
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 triplex property includes two residential structures on a 0.13-acre parcel. The 3,070-square-foot offering combines a single-family residence with three bedrooms and 1.5 bathrooms and a duplex containing one four-bedroom unit and one one-bedroom unit. The property was built in 1880 and features wood construction, ceramic tile and laminate flooring, natural-gas baseboard heat, and a gas water heater.
Located in Woonsocket, the property is near schools, parks, shopping, restaurants, Landmark Medical Center, and Downtown Woonsocket. Route 146 provides access toward Providence and Worcester, while Diamond Hill Road, Mendon Road, and the Massachusetts border are also nearby. River Island Art Park and World War II Veterans Memorial State Park provide additional nearby recreation.
Located in Woonsocket, the property is near schools, parks, shopping, restaurants, Landmark Medical Center, and Downtown Woonsocket. Route 146 provides access toward Providence and Worcester, while Diamond Hill Road, Mendon Road, and the Massachusetts border are also nearby. River Island Art Park and World War II Veterans Memorial State Park provide additional nearby recreation.
Key Highlights
- Two residential structures occupy one 0.13‑acre parcel
- 3,070 square feet with a 3‑bedroom single‑family home
- Duplex includes 1 4‑bedroom unit and 1 1‑bedroom unit
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
$51,117
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
7.87%
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%
$1,022,340
$1.0M
Cap Rate 7%
$730,243
$730.2K
Cap Rate 9%
$567,967
$568.0K
Market Conditions
NOI Build-Up for 3,070 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
$78.1K $25.44/SF
− Vacancy
−$5.1K −$1.65/SF
EGI
$73.0K $23.79/SF
− OpEx
−$21.9K −$7.14/SF
NOI
$51.1K $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%
$1,022,340
Cap Rate 7%
$730,243
Cap Rate 9%
$567,967
Alternative Uses
Best Use
Multifamily LT 5
$730.2K
$639.0K – $852.0K
NOI $51,117 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$579.6K
$507.1K – $676.2K
NOI $40,569 @ 7.0% cap · market cap 6.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 02895, RI
43,269
Population
19,443
Households
2.2
Avg Household Size
38
Median Age
19%
College-Educated
82%
High-School Grad
7.8 sq mi
ZIP Area
5,547
Density / Sq Mi
$58,579
Median Household Income
$40,929
Median Earnings
$1,116
Median Rent
$267,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Two residential structures on one parcel combine a three-bedroom house with a two-unit building.
Where is this triplex located?
The property is located at 167 2nd Avenue Woonsocket, RI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two residential structures occupy one 0.13‑acre parcel; 3,070 square feet with a 3‑bedroom single‑family home; Duplex includes 1 4‑bedroom unit and 1 1‑bedroom unit
