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    203 Dulude Ave Woonsocket, RI 02895

    Sponsored
    For Sale
    Pending
    $599,000

    MULTI_FAMILY - Woonsocket, RI

    Type:Apartment
    Lot size:
    0.11 Acres
    Days on Market:
    51
    Last Refresh:
    Jan 20 at 7:06 am

    Property Features for 203 Dulude Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Pending
    Rooms
    Bedroom 5, Bedroom 3, Bedroom 7, Bedroom 8, Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1, Basement
    Bedrooms
    8
    Bathrooms
    3
    Parking features
    Garage
    Interior features
    Wall (Dry Wall), Attic, Attic Storage, Stairs, Plumbing (Mixed), Insulation (Ceiling), Insulation (Floors), Insulation (Walls)
    Appliances
    Electric Water Heater, Gas Water Heater, Washer
    Lot size
    0.11 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas

    Building Details

    Year built
    1910
    Floors in Building
    3
    Number of units
    3
    Flooring type
    Laminate, Hardwood, Carpet
    Building materials
    Dry Wall, Clapboard
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Derek Greene

    The Greene Realty Group (508) 517-4908 [email protected]

    Listing agent Derek Greene (860) 560-1006

    Listing date Dec 1, 2025

    Copyright © 2025 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

    Turnkey Multifamily Property in Woonsocket

    This is a turnkey three-family property situated in a convenient location, with proximity to bus routes, Landmark Medical Center, and various amenities. The exterior of the property was painted two years ago. The roof was replaced two years ago, involving a complete stripping of old shingle layers and the addition of new plywood and shingles. The side porch is one year old. All units are currently occupied and well-maintained. The first-floor unit features three bedrooms. The second-floor unit has a unique layout, with a large bedroom on the third floor connected by a staircase in the living room, potentially serving as a four-bedroom unit or a three-bedroom unit with a double living room. The third-floor unit is a one-bedroom apartment. Off-street parking is available, and there is a coin-operated laundry setup in the basement. The property is located in Woonsocket, Rhode Island, in Providence County, and the lot size is 0.1148 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.496415
    Latitude
    42.008132

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    FAQs

    What type of property is this?
    Triplex - Well-maintained three-family property near amenities and transportation.
    Where is this triplex located?
    The property is located at 203 Dulude Ave Woonsocket, RI.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: - Turnkey 3-family property, ready for immediate occupancy and rental income.; - Roof replaced 2 years ago with new plywood and shingles.; - Unique second-floor unit with a **large bedroom on the third floor**, offering flexible living space (potential 4-bedroom or 3-bedroom with double living room).
    (860) 560-1006
    Request Owner's contact information
    203 Dulude Ave Woonsocket, RI 02895
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    Woonsocket, RI 02895
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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
    203 Dulude Ave Woonsocket, RI 02895
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    We can help!
    Listing Contact
    Derek Greene
    Real Estate License ID: REB.0758797
    (860) 560-1006
    Learn more
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