Updated
For Sale
$679,900
Pending
45 High Street, Burrillville, RI 02859
Residential Income, Burrillville, RI
Property Size3,352 SF
Lot Size0.33 Acres
Days on Market55
Property Features for 45 High Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 7, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 5
Parking
8
Parking features
None
Patio and Porch features
Deck
Interior features
Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Wall (Wood), Attic, Attic Stairs, Plumbing (Mixed), Insulation (Unknown)
Exterior features
Deck
Basement
Full, Unfinished
Appliances
Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
Subdivision
Pascoag
Lot features
Paved Driveway
Standard status
Pending
Size
3,352 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5699
Utilities
Heating system
Baseboard, Oil
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Tile - Ceramic, Laminate, Carpet
Building materials
Dry Wall, Paneled, Plaster, Wood Wall(s), Vinyl Siding
Listing Agency:
Bhhs Commonwealth Real Estate · Berkshire Hathaway HomeServices
(401) 886-6100
Listed By:
Tyler Gammons
(401) 330-0192
Added: Jul 6
Changed: Aug 26
Last Checked: Aug 29 at 3:06PM
MLS# 1416118
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.
Located at 45 High Street in Burrillville, this 3,352-square-foot triplex contains three residential units. The first-floor apartment offers three bedrooms, two full bathrooms, and private entry to the full basement. Each upper-level unit has two bedrooms and one full bathroom, with recent paint and flooring improvements. Interior finishes include hardwood, laminate, ceramic tile, carpet, and a mix of wall materials. The property also includes a deck, appliances, vinyl siding, a newer driveway, and newer oil-fired baseboard boilers.
The 0.326-acre property is connected to public water and sewer. Tenants pay their own utilities. Built in 1900, the building includes attic space and attic stairs, along with basement storage and utility areas.
The 0.326-acre property is connected to public water and sewer. Tenants pay their own utilities. Built in 1900, the building includes attic space and attic stairs, along with basement storage and utility areas.
Key Highlights
- 3,352‑square‑foot triplex on 0.326 acres
- First‑floor unit has 3 bedrooms, 2 full bathrooms, and private basement access
- Second- and third‑floor apartments each include 2 bedrooms and 1 full bathroom
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
$55,812
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
8.21%
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%
$1,116,240
$1.1M
Cap Rate 7%
$797,314
$797.3K
Cap Rate 9%
$620,133
$620.1K
Market Conditions
NOI Build-Up for 3,352 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
$85.3K $25.44/SF
− Vacancy
−$5.5K −$1.65/SF
EGI
$79.7K $23.79/SF
− OpEx
−$23.9K −$7.14/SF
NOI
$55.8K $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%
$1,116,240
Cap Rate 7%
$797,314
Cap Rate 9%
$620,133
Alternative Uses
Best Use
Multifamily LT 5
$797.3K
$697.7K – $930.2K
NOI $55,812 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$632.8K
$553.7K – $738.3K
NOI $44,295 @ 7.0% cap · market cap 6.51%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 02859, RI
6,701
Population
2,465
Households
2.7
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
27.6 sq mi
ZIP Area
243
Density / Sq Mi
$118,662
Median Household Income
$43,417
Median Earnings
$1,223
Median Rent
$361,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include a larger first-floor layout and two refreshed upper apartments.
Where is this triplex located?
The property is located at 45 High Street Burrillville, RI.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: 3,352‑square‑foot triplex on 0.326 acres; First‑floor unit has 3 bedrooms, 2 full bathrooms, and private basement access; Second- and third‑floor apartments each include 2 bedrooms and 1 full bathroom
