Condominium Income Unit
420 Rathbun Street Woonsocket, RI 02895
420 Rathbun Street, Woonsocket, RI, 02895
$566,100
For Sale
$566,100
MULTI_FAMILY - Woonsocket, RI
Property Size3,145 SF
Price / SF$180
Days on Market29
Property Features for 420 Rathbun Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bathroom 2, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 4, Bedroom 7, Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 8, Bathroom 1, Bedroom 2, Basement
- Parking
- 8
- Parking features
- None
- Interior features
- Wall (Dry Wall), Plumbing (Mixed)
- Exterior features
- Balcony
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 3,145 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4239
Utilities
- Heating system
- Natural Gas, Electric (Heating), Baseboard, Forced Air, Space Heater
- Cooling system
- Wall Unit(s)
Building Details
- Year built
- 1900
- Number of units
- 4
- Flooring type
- Tile - Ceramic, Laminate
- Building materials
- Dry Wall
Listing agency
Keller Williams Realty
(508) 695-4545
Listed by
Talib Hussain · License #449585701
(508) 695-4545
Added: Jun 24 Updated: Jul 16 at 3:23PM Checked: Jul 22 at 3:06PM
MLS# 1416193
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 offering comprises four separately deeded condominium units within a professionally managed six-unit building. The combined package totals approximately 3,145 square feet and includes eight bedrooms and four bathrooms distributed across a one-bedroom unit, two two-bedroom units, and one three-bedroom unit. The units are positioned as a single portfolio for ownership, with rental operations already in place.
The property is located at 420 Rathbun Street in Woonsocket, Rhode Island. The building’s condominium association charges monthly HOA fees of $180 per unit, and those dues include water, sewer, snow removal, refuse removal, and extra storage. These items help simplify ownership responsibilities tied to common services and ongoing building-related expenses.
For buyers seeking multiple income-producing units in one transaction, this portfolio provides a consolidated way to acquire a small set of condo homes while retaining unit-by-unit deeded ownership. The property is currently generating $5,900 per month in rental income, offering an established baseline for continued rental management. The mix of unit sizes may appeal to tenants with different space needs, from one-bedroom households through three-bedroom demand.
The property is located at 420 Rathbun Street in Woonsocket, Rhode Island. The building’s condominium association charges monthly HOA fees of $180 per unit, and those dues include water, sewer, snow removal, refuse removal, and extra storage. These items help simplify ownership responsibilities tied to common services and ongoing building-related expenses.
For buyers seeking multiple income-producing units in one transaction, this portfolio provides a consolidated way to acquire a small set of condo homes while retaining unit-by-unit deeded ownership. The property is currently generating $5,900 per month in rental income, offering an established baseline for continued rental management. The mix of unit sizes may appeal to tenants with different space needs, from one-bedroom households through three-bedroom demand.
Key Highlights
- Package includes four separately deeded condominium units inside a professionally managed 6‑unit building
- Total unit mix: one 1‑bedroom, two 2‑bedroom, and one 3‑bedroom unit with 8 bedrooms and 4 bathrooms
- Approximately 3,145 SF total across the four units and currently generating $5,900/month in rental income
Local Financial Insights For Apartment 5plus
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 | $80.4k | $25.56 |
| − Vacancy | −$4.8k | −$1.53 |
| EGI | $75.6k | $24.03 |
| − OpEx | −$34.0k | −$10.81 |
| NOI | $41.6k | $13.21 |
3,145 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$593.7K
$519.5K – $692.7K
NOI $41,560 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$748.1K
$654.6K – $872.8K
NOI $52,366 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
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FAQs
What type of property is this?
Multifamily property - Four separately deeded condo units in a professionally managed six-unit building, currently producing monthly rental income.
Where is this multifamily property located?
The property is located at 420 Rathbun Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $566,100.
What are key features of this property?
This property features: Package includes four separately deeded condominium units inside a professionally managed 6‑unit building; Total unit mix: one 1‑bedroom, two 2‑bedroom, and one 3‑bedroom unit with 8 bedrooms and 4 bathrooms; Approximately 3,145 SF total across the four units and currently generating $5,900/month in rental income
