Triplex with Solar
For Sale
$699,900
49 Arnold Street, East Providence, RI 02915
MULTI_FAMILY - East Providence, RI
Property Size3,468 SF
Lot Size0.23 Acres
Price / SF$201.82
Days on Market22
Property Features for 49 Arnold Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Basement, Bedroom 6, Bedroom 4, Bedroom 7, Bedroom 3, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 2
Parking
9
Patio and Porch features
Porch
Exterior features
Porch
Fireplace
1
Basement
Storage Space, Unfinished, Full
Appliances
Electric Water Heater
Lot features
Corner Lot, Paved Driveway, Wooded
Standard status
Active
Size
3,468 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8780
Utilities
Heating system
Heat Pump (Heating), Steam, Solar (Heating), Electric (Heating)
Building Details
Year built
1890
Floors in Building
3
Number of units
3
Flooring type
Vinyl, Tile - Ceramic, Hardwood
Building materials
Masonry, Vinyl Siding
Listing Agency:
Broadway Real Estate Group
(401) 354-7969
Listed By:
Marissa Bouchard
(401) 864-6514
Added: Jul 19
Changed: Aug 4
Last Checked: Aug 9 at 9:06AM
MLS# 1418266
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 triplex offers three distinct residential units with historic character and modern upgrades. The home was built in 1890 and features masonry construction with vinyl siding, hardwood floors, exposed beams, brick fireplaces, and distinctive diamond grid windows. Exterior amenities include a porch. The property includes electric water heating and a mix of heating types, including steam and heat pump systems, plus solar heating.
The property sits on a maintained corner lot, steps from Willet Pond and the East Bay Bike Path. Recent improvements include solar panels with a solar loan to transfer with the sale of the property, new mini split systems, newer boilers, and a brand new roof.
Unit configuration includes a spacious first-floor unit with a double parlor and two bedrooms, a second-floor front unit with one bedroom and one bath, and a second-floor rear unit currently configured as a one-bedroom, one-bath apartment. The rear unit is presented as a conversion opportunity to a townhouse-style layout with up to four bedrooms and two baths.
The property sits on a maintained corner lot, steps from Willet Pond and the East Bay Bike Path. Recent improvements include solar panels with a solar loan to transfer with the sale of the property, new mini split systems, newer boilers, and a brand new roof.
Unit configuration includes a spacious first-floor unit with a double parlor and two bedrooms, a second-floor front unit with one bedroom and one bath, and a second-floor rear unit currently configured as a one-bedroom, one-bath apartment. The rear unit is presented as a conversion opportunity to a townhouse-style layout with up to four bedrooms and two baths.
Key Highlights
- R3 zoning on a 0.23‑acre corner lot
- Solar panels with a solar loan to transfer with sale of property
- New mini split systems plus newer boilers and a brand new roof
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
$57,744
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
8.25%
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%
$1,154,880
$1.2M
Cap Rate 7%
$824,914
$824.9K
Cap Rate 9%
$641,600
$641.6K
Market Conditions
NOI Build-Up for 3,468 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
$88.2K $25.44/SF
− Vacancy
−$5.7K −$1.65/SF
EGI
$82.5K $23.79/SF
− OpEx
−$24.7K −$7.14/SF
NOI
$57.7K $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%
$1,154,880
Cap Rate 7%
$824,914
Cap Rate 9%
$641,600
Alternative Uses
Best Use
Multifamily LT 5
$824.9K
$721.8K – $962.4K
NOI $57,744 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$654.7K
$572.9K – $763.8K
NOI $45,828 @ 7.0% cap · market cap 6.55%
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
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 02915, RI
16,603
Population
7,746
Households
2.1
Avg Household Size
47
Median Age
36%
College-Educated
92%
High-School Grad
5.5 sq mi
ZIP Area
3,019
Density / Sq Mi
$90,558
Median Household Income
$61,062
Median Earnings
$1,482
Median Rent
$317,600
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?
Triplex - Triplex on a 0.23-acre corner lot with R3 zoning, updated heating systems, and solar panels.
Where is this triplex located?
The property is located at 49 Arnold Street East Providence, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: R3 zoning on a 0.23‑acre corner lot; Solar panels with a solar loan to transfer with sale of property; New mini split systems plus newer boilers and a brand new roof
