Three-Family Home with Detached
112 Clay Street, Central Falls, RI 02863
New
MULTI_FAMILY - Central Falls, RI
Property size:
2,518 SFLot size:
0.15 AcresPrice / SF:
$238/SF- Added:
- Jun 3, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 3 at 11:06 pm
Property Features for 112 Clay Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 5, Bedroom 4, Bedroom 3
- Parking
- 15
- Window features
- Storm Window(s)
- Patio and Porch features
- Porch
- Exterior features
- Porch
- Basement
- Storage Space, Partially Finished, Full
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 2,518 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6577
Utilities
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1867
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Hardwood, Carpet, Tile - Ceramic
- Building materials
- Vinyl Siding
Listing agent Jonathan Bolano (866) 828-3951
Listing office Exp Realty 10 Dorrance Street, Suite 700, West Hartford, RI (888) 315-3445
Listing date Jun 3, 2026
MLS# 1414312
Listing URL
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.
HighLights
- Massive 3‑family home at 112 Clay Street, built in 1867, with 5 bedrooms and 3 bathrooms across three layouts
- Delivered 100% vacant; public remarks estimate $4,800+/month in residential rental income
- Detached garage is 2,000+ SF with 13+ ft ceilings, 220V electrical (separated), cinderblock construction, and an 8‑inch concrete slab
- Three units include one 3‑bed/1‑bath layout plus two 1‑bed/1‑bath units (per provided remarks)
- Off‑street parking for up to 12 cars with individual utility meters
- Comfort features include forced‑air natural gas heating, central air, vinyl siding, and a porch
Overview
This 3-family property is delivered 100% vacant and includes three functional residential layouts totaling 5 bedrooms and 3 bathrooms. One unit is configured as a 3-bed/1-bath arrangement suitable for an owner’s suite, and the remaining two units are each 1-bed/1-bath. The exterior is described as low-maintenance vinyl siding, and the property has individual utility meters for separate tenant billing.
Located at 112 Clay Street in Central Falls, the home is positioned near I-95 and is noted to be close to local restaurants, shopping, and the local train station, supporting tenant convenience and accessibility. Off-street parking is available for up to 12 cars.
In addition to the residential income potential, the property includes a detached garage described as 2,000+ square feet with 13+ ft ceilings. The remarks indicate the garage has separated 220V electrical power, heavy-duty cinderblock construction, and an 8-inch concrete slab. This type of structure may fit contractors, business storage, a private workshop, or separate rental income. The listing also notes that local zoning guidelines may allow for an ADU, providing an additional possible path to create another income-producing unit.
Located at 112 Clay Street in Central Falls, the home is positioned near I-95 and is noted to be close to local restaurants, shopping, and the local train station, supporting tenant convenience and accessibility. Off-street parking is available for up to 12 cars.
In addition to the residential income potential, the property includes a detached garage described as 2,000+ square feet with 13+ ft ceilings. The remarks indicate the garage has separated 220V electrical power, heavy-duty cinderblock construction, and an 8-inch concrete slab. This type of structure may fit contractors, business storage, a private workshop, or separate rental income. The listing also notes that local zoning guidelines may allow for an ADU, providing an additional possible path to create another income-producing unit.
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 | $64.1k | $25.44 |
| − Vacancy | −$4.2k | −$1.65 |
| EGI | $59.9k | $23.79 |
| − OpEx | −$18.0k | −$7.14 |
| NOI | $41.9k | $16.65 |
2,518 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$598.9K
$524.1K – $698.8K
NOI $41,926 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$475.3K
$415.9K – $554.6K
NOI $33,274 @ 7.0% cap · market cap 5.55%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Central Falls
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.390223
- Latitude
- 41.882964
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Vacant three-family with three unit layouts and a large detached garage, plus off-street parking and individual utility metering.
Where is this triplex located?
The property is located at 112 Clay Street Central Falls, RI.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Massive 3‑family home at 112 Clay Street, built in 1867, with 5 bedrooms and 3 bathrooms across three layouts; Delivered 100% vacant; public remarks estimate $4,800+/month in residential rental income; Detached garage is 2,000+ SF with 13+ ft ceilings, 220V electrical (separated), cinderblock construction, and an 8‑inch concrete slab
