Two-Level Four-Unit
New
For Sale
$669,700
112 Chestnut Street, Central Falls, RI 02863
Residential Income, Central Falls, RI
Property Size3,858 SF
Lot Size0.11 Acres
Price / SF$173.59
Days on Market3
Property Features for 112 Chestnut Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 2, Basement, Bedroom 3, Bathroom 4, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 1
Parking
4
Parking features
None
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Exterior features
Porch
Basement
Full, Unfinished
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Standard status
Active
Size
3,858 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6177
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
front porches
Building Details
Year built
1920
Floors in Building
2
Number of units
4
Flooring type
Hardwood, Vinyl, Tile - Ceramic
Building materials
Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Filomena ALTIERI
(401) 486-2001
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 3:06AM
MLS# 1421197
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 two-level quadplex contains 3,858 square feet in a side-by-side configuration. The exterior features vinyl siding and front porches, while interior finishes include hardwood, vinyl, and ceramic tile flooring. The property includes gas water heating, natural-gas baseboard heat, four bathrooms, a basement, and kitchen appliances including an oven/range and refrigerator.
The 0.1083-acre parcel is located at 112 Chestnut Street in Central Falls, Rhode Island, and carries R-3 zoning. Public water serves the property. The existing tenancies have been maintained on a month-to-month basis over an extended period, and the property does not include parking.
The 0.1083-acre parcel is located at 112 Chestnut Street in Central Falls, Rhode Island, and carries R-3 zoning. Public water serves the property. The existing tenancies have been maintained on a month-to-month basis over an extended period, and the property does not include parking.
Key Highlights
- Four‑unit, two‑level side‑by‑side configuration
- 3,858 square feet on a 0.1083‑acre parcel
- Built in 1920 with vinyl siding and front porches
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
$50,982
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
7.61%
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%
$1,019,640
$1.0M
Cap Rate 7%
$728,314
$728.3K
Cap Rate 9%
$566,467
$566.5K
Market Conditions
NOI Build-Up for 3,858 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
$98.6K $25.56/SF
− Vacancy
−$5.9K −$1.53/SF
EGI
$92.7K $24.03/SF
− OpEx
−$41.7K −$10.81/SF
NOI
$51.0K $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%
$1,019,640
Cap Rate 7%
$728,314
Cap Rate 9%
$566,467
Alternative Uses
Best Use
Multifamily LT 5
$917.7K
$803.0K – $1.07M
NOI $64,238 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$728.3K
$637.3K – $849.7K
NOI $50,982 @ 7.0% cap · market cap 7.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Explore this area
Business Placement
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
Median Home Value
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?
Quadplex - Vinyl siding, front porches, and a side-by-side layout define this residential income property.
Where is this quadplex located?
The property is located at 112 Chestnut Street Central Falls, RI.
What is the asking price?
The asking price for this property is $669,700.
What are key features of this property?
This property features: Four‑unit, two‑level side‑by‑side configuration; 3,858 square feet on a 0.1083‑acre parcel; Built in 1920 with vinyl siding and front porches
