Three-Family Property with Detached
339 Waterman Avenue East Providence, RI 02914
339 Waterman Avenue, East Providence, RI, 02914
$619,000
Pending
For Sale
$619,000
Pending
MULTI_FAMILY - East Providence, RI
Property Size2,912 SF
Lot Size0.24 Acres
Days on Market29
Property Features for 339 Waterman Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 3, Basement, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 3
- Parking
- 7
- Interior features
- Plumbing (Mixed)
- Basement
- Unfinished, Storage Space, Full
- Appliances
- Gas Water Heater
- Standard status
- Pending
- Size
- 2,912 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6742
Utilities
- Heating system
- Natural Gas, Steam, Forced Air
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Carpet
- Building materials
- Shingles
Listing agency
Re/Max River's Edge
(401) 245-2000
Listed by
Robert Bohlen · License #RES.0042441
(401) 245-2000
Added: Jun 25 Updated: Jul 16 at 3:23PM Checked: Jul 23 at 7:06AM
MLS# 1416389
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 well-maintained three-family property offers three spacious residential units, each configured with two bedrooms and one full bathroom. The building is designed for independent living within a straightforward triplex layout. Outdoor space is available on the 0.2434-acre lot, and a detached two-car garage provides additional storage and parking options for residents or tenants.
Located at 339 Waterman Avenue in East Providence, the property is convenient to shopping, dining, and schools. It is also described as being near major highways, supporting practical commuting and day-to-day accessibility for tenants.
For owner-occupants and investors, the asset provides a built-in income component through three rentable units with similar unit mix. Buyers may consider living in one unit while renting the others, or operating the property as a traditional multifamily rental. With three units all featuring two-bedroom, one-bath layouts and onsite garage support, the property is positioned as a workable option for anyone seeking a small residential income property in East Providence.
Located at 339 Waterman Avenue in East Providence, the property is convenient to shopping, dining, and schools. It is also described as being near major highways, supporting practical commuting and day-to-day accessibility for tenants.
For owner-occupants and investors, the asset provides a built-in income component through three rentable units with similar unit mix. Buyers may consider living in one unit while renting the others, or operating the property as a traditional multifamily rental. With three units all featuring two-bedroom, one-bath layouts and onsite garage support, the property is positioned as a workable option for anyone seeking a small residential income property in East Providence.
Key Highlights
- Three‑family property with three units, each featuring 2 bedrooms and 1 full bathroom
- 1/4‑acre lot with outdoor space plus a detached two‑car garage for storage and parking
- Heating includes natural gas, forced air, and steam; gas water heater
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.1k | $25.44 |
| − Vacancy | −$4.8k | −$1.65 |
| EGI | $69.3k | $23.79 |
| − OpEx | −$20.8k | −$7.14 |
| NOI | $48.5k | $16.65 |
2,912 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$692.7K
$606.1K – $808.1K
NOI $48,486 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$549.7K
$481.0K – $641.4K
NOI $38,481 @ 7.0% cap · market cap 6.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained triplex offering three 2-bedroom, 1-bath units plus a detached two-car garage and outdoor space.
Where is this triplex located?
The property is located at 339 Waterman Avenue East Providence, RI.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Three‑family property with three units, each featuring 2 bedrooms and 1 full bathroom; 1/4‑acre lot with outdoor space plus a detached two‑car garage for storage and parking; Heating includes natural gas, forced air, and steam; gas water heater
