Three-Level Multifamily
681 Putnam Pike Smithfield, RI 02828
681 Putnam Pike, Smithfield, RI, 02828
$535,000
For Sale
$535,000
MULTI_FAMILY - Smithfield, RI
Property Size2,496 SF
Lot Size0.38 Acres
Price / SF$214.34
Days on Market22
Property Features for 681 Putnam Pike
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 5, Bedroom 6, Bathroom 2, Basement, Bedroom 2
- Parking
- 6
- Parking features
- None
- Window features
- Insulated Windows
- Patio and Porch features
- Porch, Patio, Deck
- Interior features
- Plumbing (Mixed), Insulation (Unknown)
- Exterior features
- Deck, Patio, Porch, Screened Pch/Patio/Dck/Brzwy
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater, Range Hood, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 2,496 SF
- Lot size
- 0.38 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6055
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Natural Gas
Building Details
- Year built
- 1850
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Pine, Laminate, Hardwood, Vinyl
- Building materials
- Vinyl Siding
Listing agency
Re/Max One
(401) 943-6111
Listed by
Keith Antaya · License #1001259
(860) 235-1642
Added: Jul 1 Updated: Jul 20 at 9:22PM Checked: Jul 22 at 8:06AM
MLS# 1416845
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 multifamily property features a three-level configuration with the primary residence spanning the second and third floors. The layout is described as having the feel of a private townhouse, providing an owner-occupant style of living while still supporting separate income space on the lower level. The first floor includes a well-maintained two-bedroom, one-bath unit.
The home sits on an oversized lot measuring 0.38 acres at 681 Putnam Pike in Smithfield, RI. The property is presented as an opportunity close to everyday needs, and the overall size is listed as 2,496 square feet.
With a first-floor rental unit and a dedicated upper residence, the property can fit buyers who want flexibility between living on-site and collecting rent. The listing also notes two brand-new combination boilers installed, which supports dependable heating and hot water for the property’s units. This combination of a distinct lower-level apartment and an upper, townhouse-like living space may appeal to owner-occupants and investors seeking a straightforward multifamily structure in a residential income format.
The home sits on an oversized lot measuring 0.38 acres at 681 Putnam Pike in Smithfield, RI. The property is presented as an opportunity close to everyday needs, and the overall size is listed as 2,496 square feet.
With a first-floor rental unit and a dedicated upper residence, the property can fit buyers who want flexibility between living on-site and collecting rent. The listing also notes two brand-new combination boilers installed, which supports dependable heating and hot water for the property’s units. This combination of a distinct lower-level apartment and an upper, townhouse-like living space may appeal to owner-occupants and investors seeking a straightforward multifamily structure in a residential income format.
Key Highlights
- Multifamily home built in 1850 with vinyl siding and public sewer service
- Two brand‑new combination boilers installed for heat and hot water
- First‑floor unit features 2 bedrooms and 1 bathroom
Local Financial Insights For Multifamily LT 5
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 | $63.5k | $25.44 |
| − Vacancy | −$4.1k | −$1.65 |
| EGI | $59.4k | $23.79 |
| − OpEx | −$17.8k | −$7.14 |
| NOI | $41.6k | $16.65 |
2,496 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$593.7K
$519.5K – $692.7K
NOI $41,560 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$471.2K
$412.3K – $549.7K
NOI $32,983 @ 7.0% cap · market cap 6.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Second- and third-floor owner-style layout plus a separate first-floor unit, supported by new combination boilers.
Where is this duplex located?
The property is located at 681 Putnam Pike Smithfield, RI.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Multifamily home built in 1850 with vinyl siding and public sewer service; Two brand‑new combination boilers installed for heat and hot water; First‑floor unit features 2 bedrooms and 1 bathroom
