Duplex With Detached One-Car
For Sale
$459,900
419 Fairmount Street, Woonsocket, RI 02895
MULTI_FAMILY - Woonsocket, RI
Property Size1,998 SF
Lot Size0.13 Acres
Price / SF$230.18
Days on Market16
Property Features for 419 Fairmount Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Basement, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1
Parking
5
Interior features
Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Wall (Wood), Attic, Attic Stairs, Stairs, Plumbing (Copper), Plumbing (Mixed), Plumbing (PEX), Plumbing (PVC), Insulation (Walls)
Basement
Full, Unfinished
Appliances
Gas Water Heater, Dryer, Oven/Range, Refrigerator, Washer
Subdivision
Fairmount
Lot features
Paved Driveway, Sidewalks
Standard status
Active
Size
1,998 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4210
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Amenities
washer
dryer
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Laminate, Carpet
Building materials
Dry Wall, Paneled, Plaster, Wood Wall(s), Vinyl Siding
Listing Agency:
Real Broker, Llc
(855) 450-0442
Listed By:
Stacy Corrigan · License #REB.0016898
(401) 829-8323
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 11 at 11:06PM
MLS# 1419095
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.
Two-family duplex built in 1900 offering nearly 2,000 square feet of living space. Each unit is approximately 999 square feet with two bedrooms, a clean kitchen with painted tin ceilings, and laminate, vinyl, and carpet flooring. The basement is served by a house meter for shared use. Tenants can use a common washer and dryer. Appliances noted include an oven/range, refrigerator, and washer and dryer, along with a gas water heater.
The property includes a vinyl exterior designed for low maintenance. Outside features a detached one-car garage plus parking for four additional vehicles, along with a modest yard. Heating is baseboard with natural gas. Sewer is public.
Recent major capital improvements include a young roof, heating systems approximately 3 months and 10 years old, and hot water tanks just 3 months and 3 years old. The seller will obtain lead certificates prior to closing.
The property includes a vinyl exterior designed for low maintenance. Outside features a detached one-car garage plus parking for four additional vehicles, along with a modest yard. Heating is baseboard with natural gas. Sewer is public.
Recent major capital improvements include a young roof, heating systems approximately 3 months and 10 years old, and hot water tanks just 3 months and 3 years old. The seller will obtain lead certificates prior to closing.
Key Highlights
- Two‑family duplex with nearly 2,000 sq. ft. total living space, each unit approx. 999 sq. ft.
- Each unit offers two bedrooms with kitchen featuring painted tin ceilings
- Separate gas and electric utilities plus a house meter for the common basement
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
$33,268
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
7.23%
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%
$665,360
$665.4K
Cap Rate 7%
$475,257
$475.3K
Cap Rate 9%
$369,644
$369.6K
Market Conditions
NOI Build-Up for 1,998 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
$50.8K $25.44/SF
− Vacancy
−$3.3K −$1.65/SF
EGI
$47.5K $23.79/SF
− OpEx
−$14.3K −$7.14/SF
NOI
$33.3K $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%
$665,360
Cap Rate 7%
$475,257
Cap Rate 9%
$369,644
Alternative Uses
Best Use
Multifamily LT 5
$475.3K
$415.9K – $554.5K
NOI $33,268 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$377.2K
$330.0K – $440.1K
NOI $26,403 @ 7.0% cap · market cap 5.74%
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
Utilities to site
Location Intelligence
Trade Area within ½ mile
288
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?
Duplex - Well-kept two-family duplex with separate gas and electric utilities, a common washer and dryer, and a detached one-car garage.
Where is this duplex located?
The property is located at 419 Fairmount Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Two‑family duplex with nearly 2,000 sq. ft. total living space, each unit approx. 999 sq. ft.; Each unit offers two bedrooms with kitchen featuring painted tin ceilings; Separate gas and electric utilities plus a house meter for the common basement
