Two-Unit Residential
For Sale
$459,900
Pending
419 Fairmount Street, Woonsocket, RI 02895
Residential Income, Woonsocket, RI
Property Size1,998 SF
Lot Size0.13 Acres
Days on Market62
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 4, Bathroom 1, Basement, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 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
Unfinished, Full
Appliances
Dryer, Oven, Range, Refrigerator, Washer, Gas Water Heater
Subdivision
Fairmount
Lot features
Paved Driveway, Sidewalks
Standard status
Pending
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
common washer and dryer
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet, Laminate
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: Sep 26
Last Checked: Sep 27 at 5:06PM
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.
Built in 1900, this two-unit residential property contains 1,998 square feet, with each apartment measuring approximately 999 square feet. Both units have two bedrooms, kitchens, and a mix of laminate, vinyl, and carpet flooring. Painted tin ceilings are present in the kitchens. A shared basement includes a washer and dryer, and the property has separate gas and electric utilities for the apartments plus a common-area meter.
The exterior is vinyl siding. Site features include a detached one-car garage, parking for four additional vehicles, and a 0.13-acre lot. Heating systems are approximately 3 months and 10 years old; hot water tanks are approximately 3 months and 3 years old. The property is at 419 Fairmount Street in Woonsocket, Rhode Island.
The exterior is vinyl siding. Site features include a detached one-car garage, parking for four additional vehicles, and a 0.13-acre lot. Heating systems are approximately 3 months and 10 years old; hot water tanks are approximately 3 months and 3 years old. The property is at 419 Fairmount Street in Woonsocket, Rhode Island.
Key Highlights
- Two apartments, each with 2 bedrooms and approximately 999 square feet
- 1,998 square feet of total property area on a 0.13‑acre lot
- Detached one‑car garage and parking for four additional vehicles
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Separate gas and electric meters serve the two apartments, with a common meter for the basement.
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 apartments, each with 2 bedrooms and approximately 999 square feet; 1,998 square feet of total property area on a 0.13‑acre lot; Detached one‑car garage and parking for four additional vehicles
