Water-View
For Sale
$1,450,000
5443 Post Road, Charlestown, RI 02813
Residential Income, Charlestown, RI
Property Size3,560 SF
Lot Size1.59 Acres
Price / SF$407.30
Days on Market47
Property Features for 5443 Post Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3A
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 6, Basement, Bathroom 3, Bedroom 4
Parking
10
Patio and Porch features
Deck, Patio
Interior features
Wall (Dry Wall), Wall (Plaster), Plumbing (Mixed), Insulation (Ceiling), Insulation (Unknown), Insulation (Walls)
Exterior features
Deck, Patio
Fireplace
1
Basement
Unfinished, Full
Appliances
Electric Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
Lot features
Paved Driveway
View
Water
Standard status
Active
Size
3,560 SF
Lot size
1.59 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4140
Utilities
Sewer type
Septic Tank
Heating system
Oil, Electric (Heating), Baseboard
Cooling system
Window Unit(s)
Water source
Well
Amenities
deck
patio
backyard
full unfinished basement
storage room
Building Details
Year built
1950
Floors in Building
2
Number of units
3
Flooring type
Carpet, Tile - Ceramic, Hardwood
Building materials
Dry Wall, Plaster, Clapboard, Shingles, Wood
Listing Agency:
Ocean Roads Realty Llc
(401) 447-4148
Listed By:
Marie Theriault
(401) 447-4148
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 30 at 3:06AM
MLS# 1416738
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 three-unit property contains a two-bedroom, one-bath residence, a second-floor three-bedroom, one-bath apartment, and a first-level one-bedroom, one-bath unit. The homes include separate electrical panels, multiple decks, a patio, and water views from several living areas. A full unfinished basement, storage room, circular driveway, and attached two-car garage add practical utility. The 3,560-square-foot building was constructed in 1950 and sits on 1.59 acres with R3A zoning.
The property overlooks salt pond and ocean waters, with views extending toward Block Island. Its Charlestown setting provides access to East Beach, Blue Shutters, Watch Hill, Westerly, and other South County destinations. The property uses well water and a septic tank, with a six-bedroom denitrification OWTS installed in 2013. A new oil furnace serving Units 1 and 2 and a roof were also completed in 2013.
The property overlooks salt pond and ocean waters, with views extending toward Block Island. Its Charlestown setting provides access to East Beach, Blue Shutters, Watch Hill, Westerly, and other South County destinations. The property uses well water and a septic tank, with a six-bedroom denitrification OWTS installed in 2013. A new oil furnace serving Units 1 and 2 and a roof were also completed in 2013.
Key Highlights
- Three‑unit layout with 2‑bedroom, 3‑bedroom, and 1‑bedroom apartments
- 3,560 square feet on 1.59 acres with R3A zoning
- Salt pond and ocean views extending toward Block Island
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
$42,941
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
2.96%
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%
$858,820
$858.8K
Cap Rate 7%
$613,443
$613.4K
Cap Rate 9%
$477,122
$477.1K
Market Conditions
NOI Build-Up for 3,560 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
$64.1K $18.00/SF
− Vacancy
−$2.7K −$0.77/SF
EGI
$61.3K $17.23/SF
− OpEx
−$18.4K −$5.17/SF
NOI
$42.9K $12.06/SF
Area
Washington County, RI
Vacancy
4.27%
Lease Rate
$18.00 /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%
$858,820
Cap Rate 7%
$613,443
Cap Rate 9%
$477,122
Alternative Uses
Best Use
Multifamily LT 5
$613.4K
$536.8K – $715.7K
NOI $42,941 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$535.3K
$468.4K – $624.6K
NOI $37,473 @ 7.0% cap · market cap 2.58%
Theoretical Best
Healthcare Medical
$711.3K
$622.4K – $829.8K
NOI $49,790 @ 7.0% cap · market cap 3.43%
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
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 02813, RI
8,021
Population
5,334
Households
1.5
Avg Household Size
53
Median Age
42%
College-Educated
94%
High-School Grad
36.7 sq mi
ZIP Area
219
Density / Sq Mi
$103,147
Median Household Income
$53,783
Median Earnings
$1,499
Median Rent
$467,700
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 - Three separate apartments with decks, a patio, full basement, and attached garage on a wooded residential parcel.
Where is this triplex located?
The property is located at 5443 Post Road Charlestown, RI.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Three‑unit layout with 2‑bedroom, 3‑bedroom, and 1‑bedroom apartments; 3,560 square feet on 1.59 acres with R3A zoning; Salt pond and ocean views extending toward Block Island
