Side-by-Side Duplex and
For Sale
$979,000
Pending
411 Rathbun St, Woonsocket, RI 02895
Two-building residential income property with five units on one lot, including a duplex and a fully renovated three-family.
Property Size6,000 SF
Days on Market38
Property Features for 411 Rathbun St
General Information
Standard status
Pending
Size
6,000 SF
Property subtype
Commercial
Zoning
R4, Legal Conforming
Taxes and HOA fees
Annual Taxes
$7,074
Building Details
Building Size
6,000 SF
Year Built
1910
Buildings
2
Listing Agency:
Keller Williams Elite
(508) 695-4545
Listed By:
Talib Hussain · License #449585701
(774) 266-1068
Source:
Aucoinryanrealty
Added: Jul 30
Changed: Aug 23
Last Checked: Aug 23 at 6:10AM
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 Keller Williams Elite
Investment Insights
Based on property information with market context.
This two-building residential income property totals five residential units on one lot. The front building is a side-by-side duplex, with each unit offering four bedrooms and 1.5 baths, including one first-floor bedroom and three second-floor bedrooms. Both duplex units include in-unit laundry and unfinished basement storage.
The rear building is a fully renovated three-family. It is currently vacant and positioned for immediate occupancy or lease-up. Each three-family unit features three bedrooms and one full bath, with spacious living and dining areas, a functional kitchen, and abundant natural light.
The property also includes ample off-street parking and separate buildings for added privacy. Built in 1910, the property is located at 411 Rathbun in Woonsocket, Rhode Island.
The rear building is a fully renovated three-family. It is currently vacant and positioned for immediate occupancy or lease-up. Each three-family unit features three bedrooms and one full bath, with spacious living and dining areas, a functional kitchen, and abundant natural light.
The property also includes ample off-street parking and separate buildings for added privacy. Built in 1910, the property is located at 411 Rathbun in Woonsocket, Rhode Island.
Key Highlights
- Total of 5 residential units on one lot with separate front and rear buildings
- Front building: side‑by‑side duplex with 2 units, each with 4 bedrooms and 1.5 baths
- Rear building: fully renovated three‑family, currently vacant and ready for occupancy or lease‑up
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
$79,287
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
8.10%
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%
$1,585,740
$1.6M
Cap Rate 7%
$1,132,671
$1.1M
Cap Rate 9%
$880,967
$881.0K
Market Conditions
NOI Build-Up for 6,000 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
$153.4K $25.56/SF
− Vacancy
−$9.2K −$1.53/SF
EGI
$144.2K $24.03/SF
− OpEx
−$64.9K −$10.81/SF
NOI
$79.3K $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%
$1,585,740
Cap Rate 7%
$1,132,671
Cap Rate 9%
$880,967
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.67M
NOI $99,903 @ 7.0% cap · market cap 10.20%
Second Best
Apartment 5plus
$1.13M
$991.1K – $1.32M
NOI $79,287 @ 7.0% cap · market cap 8.10%
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
1,099
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-building residential income property with five units on one lot, including a duplex and a fully renovated three-family.
Where is this duplex located?
The property is located at 411 Rathbun St Woonsocket, RI.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Total of 5 residential units on one lot with separate front and rear buildings; Front building: side‑by‑side duplex with 2 units, each with 4 bedrooms and 1.5 baths; Rear building: fully renovated three‑family, currently vacant and ready for occupancy or lease‑up
