Two-Unit Duplex with
New
For Sale
$389,000
Woonsocket, RI 02985, Woonsocket, RI 02985
Residential Income, Woonsocket, RI
Property Size1,678 SF
Lot Size0.15 Acres
Price / SF$231.82
Days on Market2
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4
Parking
4
Parking features
None
Basement
Full, Finished
Appliances
Gas Water Heater
Subdivision
Bernon
Standard status
Active
Size
1,678 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Utilities
Heating system
Steam, Baseboard, Oil
Water source
Public
Building Details
Year built
1920
Number of units
2
Flooring type
Vinyl, Hardwood, Tile - Ceramic, Laminate
Building materials
Aluminum Siding
Listing Agency:
Circle 100 Real Estate
(401) 336-6083
Listed By:
Yamanda Perez Jimenez
(401) 523-4983
Added: Aug 25
Last Checked: Aug 26 at 10:06AM
MLS# 1421567
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.
Built in 1920, this 1,678-square-foot duplex contains two two-bedroom apartments. The second-floor unit currently produces rental income, while the layout also supports occupying one apartment and renting the other. A partially finished basement provides additional usable area for storage, recreation, a workshop, or other defined uses.
The property sits on a 0.15-acre lot in Woonsocket, RI, with a backyard suited to outdoor use and entertaining. Construction includes aluminum siding, and the interior features vinyl, hardwood, ceramic tile, and laminate flooring. Heating is provided by steam and baseboard systems with oil fuel, while the property receives public water. The location offers access to local amenities, shopping, restaurants, and major routes.
The property sits on a 0.15-acre lot in Woonsocket, RI, with a backyard suited to outdoor use and entertaining. Construction includes aluminum siding, and the interior features vinyl, hardwood, ceramic tile, and laminate flooring. Heating is provided by steam and baseboard systems with oil fuel, while the property receives public water. The location offers access to local amenities, shopping, restaurants, and major routes.
Key Highlights
- Two 2‑bedroom apartments within a 1,678‑square‑foot duplex
- Second‑floor apartment currently generating rental income
- Partially finished basement with storage, recreation, or workshop utility
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
$27,940
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
7.18%
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%
$558,800
$558.8K
Cap Rate 7%
$399,143
$399.1K
Cap Rate 9%
$310,444
$310.4K
Market Conditions
NOI Build-Up for 1,678 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
$42.7K $25.44/SF
− Vacancy
−$2.8K −$1.65/SF
EGI
$39.9K $23.79/SF
− OpEx
−$12.0K −$7.14/SF
NOI
$27.9K $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%
$558,800
Cap Rate 7%
$399,143
Cap Rate 9%
$310,444
Alternative Uses
Best Use
Multifamily LT 5
$399.1K
$349.3K – $465.7K
NOI $27,940 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$316.8K
$277.2K – $369.6K
NOI $22,174 @ 7.0% cap · market cap 5.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,046
Businesses Nearby
Explore this area
Business Placement
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?
Duplex - Two residential units support an owner-occupancy arrangement or continued rental use.
Where is this duplex located?
The property is located at Woonsocket, RI.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Two 2‑bedroom apartments within a 1,678‑square‑foot duplex; Second‑floor apartment currently generating rental income; Partially finished basement with storage, recreation, or workshop utility
