Three-Unit Multifamily
For Sale
$659,900
Pending
127 Meadow Street, Pawtucket, RI 02860
Residential Income, Pawtucket, RI
Property Size2,674 SF
Lot Size0.23 Acres
Days on Market47
Property Features for 127 Meadow Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Basement, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 1
Parking
8
Parking features
None
Interior features
Wall (Dry Wall), Stairs, Plumbing (Mixed), Insulation (Walls)
Basement
Finished, Full
Appliances
Gas Water Heater, Dryer, Oven/Range, Refrigerator, Washer
Lot features
Corner Lot, Fenced, Paved Driveway
Standard status
Pending
Size
2,674 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5653
Utilities
Heating system
Natural Gas, Electric (Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1880
Floors in Building
2
Number of units
3
Flooring type
Laminate, Hardwood, Tile - Ceramic
Building materials
Dry Wall, Shingles, Vinyl Siding
Listing Agency:
Here Realty
(401) 862-1251
Listed By:
Catherine Espinosa · License #RES.0045479
(401) 255-4157
Added: Jul 27
Changed: Sep 7
Last Checked: Sep 11 at 8:06AM
MLS# 1418931
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 triplex includes two separate residential buildings at 127 Meadow Street and 123 Meadow Street. The primary structure contains two 2-bedroom, 1-bathroom units, while the detached building provides one additional 2-bedroom, 1-bathroom unit. The property includes 2,674 square feet of building area on a 10,000-square-foot corner lot, with a basement and a combination of hardwood, laminate, and ceramic tile flooring.
Constructed in 1880, the buildings feature vinyl siding, shingle roofing, drywall interiors, mixed plumbing, wall insulation, and public water. Heating is provided by natural gas and electric systems, with window-unit cooling. Appliances include gas water heating, ranges, refrigerators, washers, and dryers.
The property is located near I-95, Route 1, the Pawtucket/Central Falls MBTA Station, Downtown Pawtucket, Centreville Bank Stadium, Hope Artiste Village, Slater Memorial Park, shopping, restaurants, and the Massachusetts border.
Constructed in 1880, the buildings feature vinyl siding, shingle roofing, drywall interiors, mixed plumbing, wall insulation, and public water. Heating is provided by natural gas and electric systems, with window-unit cooling. Appliances include gas water heating, ranges, refrigerators, washers, and dryers.
The property is located near I-95, Route 1, the Pawtucket/Central Falls MBTA Station, Downtown Pawtucket, Centreville Bank Stadium, Hope Artiste Village, Slater Memorial Park, shopping, restaurants, and the Massachusetts border.
Key Highlights
- Three‑unit configuration with two buildings at 127 Meadow Street and 123 Meadow Street
- 2,674 square feet of building area on a 10,000‑square‑foot corner lot
- Two 2‑bedroom, 1‑bathroom units in the main building
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
$44,523
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
6.75%
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%
$890,460
$890.5K
Cap Rate 7%
$636,043
$636.0K
Cap Rate 9%
$494,700
$494.7K
Market Conditions
NOI Build-Up for 2,674 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
$68.0K $25.44/SF
− Vacancy
−$4.4K −$1.65/SF
EGI
$63.6K $23.79/SF
− OpEx
−$19.1K −$7.14/SF
NOI
$44.5K $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%
$890,460
Cap Rate 7%
$636,043
Cap Rate 9%
$494,700
Alternative Uses
Best Use
Multifamily LT 5
$636.0K
$556.5K – $742.1K
NOI $44,523 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$504.8K
$441.7K – $588.9K
NOI $35,336 @ 7.0% cap · market cap 5.35%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,911
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Three residential units across two buildings with updated roofing and heating systems on a corner parcel.
Where is this triplex located?
The property is located at 127 Meadow Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: Three‑unit configuration with two buildings at 127 Meadow Street and 123 Meadow Street; 2,674 square feet of building area on a 10,000‑square‑foot corner lot; Two 2‑bedroom, 1‑bathroom units in the main building
