Triplex With Two-Car
For Sale
$575,000
Pending
178 Coyle Avenue, Pawtucket, RI 02861
Residential Income, Pawtucket, RI
Property Size3,927 SF
Lot Size0.11 Acres
Days on Market47
Property Features for 178 Coyle Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 4, Basement, Bathroom 2
Parking
6
Interior features
Plumbing (Mixed)
Basement
Full, Unfinished
Appliances
Gas Water Heater
Subdivision
Darlington
Standard status
Pending
Size
3,927 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5672
Utilities
Heating system
Baseboard, Natural Gas
Amenities
garage
fenced-in yard
off-street parking
laundry hookups
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Vinyl, Carpet
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Realty
(508) 695-4545
Listed By:
Corina Bonenfant · License #REB.0019504
(508) 333-5583
Added: Jul 17
Changed: Aug 20
Last Checked: Sep 1 at 12:06PM
MLS# 1417789
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.
Built in 1920, this 3,927-square-foot triplex contains three apartments within a 0.11-acre residential parcel zoned R3. The first-floor unit includes hardwood flooring, a dedicated dining room, and an eat-in kitchen. Two second-floor apartments each provide one bedroom, a separate living room, and an eat-in kitchen. Individual utilities and laundry hookups serve the units.
Exterior improvements include vinyl siding, a fenced yard, a two-car garage, and off-street parking for five vehicles. The property is in Pawtucket’s Darlington area, less than 1.5 miles from South Attleboro Train Station and less than 2 miles from the Pawtucket/Central Falls MBTA Station. Access to I-95 is available within minutes, while John St Playground is 1 mile away.
Exterior improvements include vinyl siding, a fenced yard, a two-car garage, and off-street parking for five vehicles. The property is in Pawtucket’s Darlington area, less than 1.5 miles from South Attleboro Train Station and less than 2 miles from the Pawtucket/Central Falls MBTA Station. Access to I-95 is available within minutes, while John St Playground is 1 mile away.
Key Highlights
- Three‑unit property with 3,927 square feet on a 0.11‑acre lot
- R3 zoning and 1920 construction
- Two second‑floor apartments each include 1 bedroom, an eat‑in kitchen, and a separate living room
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
$51,893
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
9.02%
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%
$1,037,860
$1.0M
Cap Rate 7%
$741,329
$741.3K
Cap Rate 9%
$576,589
$576.6K
Market Conditions
NOI Build-Up for 3,927 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
$100.4K $25.56/SF
− Vacancy
−$6.0K −$1.53/SF
EGI
$94.4K $24.03/SF
− OpEx
−$42.5K −$10.81/SF
NOI
$51.9K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,037,860
Cap Rate 7%
$741,329
Cap Rate 9%
$576,589
Alternative Uses
Best Use
Multifamily LT 5
$934.1K
$817.3K – $1.09M
NOI $65,386 @ 7.0% cap · market cap 11.37%
Second Best
Apartment 5plus
$741.3K
$648.7K – $864.9K
NOI $51,893 @ 7.0% cap · market cap 9.02%
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
709
Businesses Nearby
Explore this area
Business Placement
Demographics for 02861, RI
27,833
Population
11,928
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
3.6 sq mi
ZIP Area
7,731
Density / Sq Mi
$83,044
Median Household Income
$47,384
Median Earnings
$1,278
Median Rent
$285,200
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 - Three separate apartments offer individual utilities, laundry hookups, and a mix of hardwood, vinyl, and carpet flooring.
Where is this triplex located?
The property is located at 178 Coyle Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Three‑unit property with 3,927 square feet on a 0.11‑acre lot; R3 zoning and 1920 construction; Two second‑floor apartments each include 1 bedroom, an eat‑in kitchen, and a separate living room
