Three-Unit Multifamily
For Sale
$499,900
Pending
108 East St, Woonsocket, RI 02895
Separately metered apartments include off-street parking and a dedicated house meter for shared expenses.
Property Size3,360 SF
Days on Market76
Property Features for 108 East St
General Information
Standard status
Pending
Size
3,360 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,271
Listing Agency:
Salzberg Real Estate Agency
(401) 651-6978
Listed By:
Marilyn Bennett · License #745530303
(401) 651-6978
Source:
Exprealty
Added: Jun 16
Changed: Aug 29
Last Checked: Aug 29 at 4:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Salzberg Real Estate Agency
Investment Insights
Based on property information with market context.
Located at 108 East St in Woonsocket, this 3,360-square-foot triplex contains three residential units within a vinyl-sided, fully fire-coded building. The two lower apartments each have three bedrooms, a living room, full bathroom, eat-in kitchen, and separate galley kitchen area. The top-floor residence provides two bedrooms, a large living room, full bathroom, eat-in kitchen, and its own galley kitchen area.
Each unit has individual utilities, while a house meter serves common-area expenses. Off-street parking is provided. The property overlooks the Blackstone River and sits 0.5 miles from Market Square, 2 miles from major shopping and amenities, and slightly over 3 miles from Route 146.
Each unit has individual utilities, while a house meter serves common-area expenses. Off-street parking is provided. The property overlooks the Blackstone River and sits 0.5 miles from Market Square, 2 miles from major shopping and amenities, and slightly over 3 miles from Route 146.
Key Highlights
- Three‑unit multifamily property totaling 3,360 SF
- Lower two units each offer 3 bedrooms and a full bathroom
- Third‑floor unit includes 2 bedrooms and an expansive living room
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
$44,401
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
8.88%
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%
$888,020
$888.0K
Cap Rate 7%
$634,300
$634.3K
Cap Rate 9%
$493,344
$493.3K
Market Conditions
NOI Build-Up for 3,360 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
$85.9K $25.56/SF
− Vacancy
−$5.2K −$1.53/SF
EGI
$80.7K $24.03/SF
− OpEx
−$36.3K −$10.81/SF
NOI
$44.4K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
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%
$888,020
Cap Rate 7%
$634,300
Cap Rate 9%
$493,344
Alternative Uses
Best Use
Multifamily LT 5
$799.2K
$699.3K – $932.4K
NOI $55,946 @ 7.0% cap · market cap 11.19%
Second Best
Apartment 5plus
$634.3K
$555.0K – $740.0K
NOI $44,401 @ 7.0% cap · market cap 8.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
908
Businesses Nearby
Explore this area
Business Placement
Demographics for 02895, RI
43,269
Population
19,443
Households
2.2
Avg Household Size
38
Median Age
19%
College-Educated
82%
High-School Grad
7.8 sq mi
ZIP Area
5,547
Density / Sq Mi
$58,579
Median Household Income
$40,929
Median Earnings
$1,116
Median Rent
$267,900
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 - Separately metered apartments include off-street parking and a dedicated house meter for shared expenses.
Where is this triplex located?
The property is located at 108 East St Woonsocket, RI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three‑unit multifamily property totaling 3,360 SF; Lower two units each offer 3 bedrooms and a full bathroom; Third‑floor unit includes 2 bedrooms and an expansive living room
