Duplex with Private
New
For Sale
$725,000
132 Elm Street, Woonsocket, RI 02895
Two matching homes combine open living areas with private outdoor decks and basement utility space.
Property Size3,312 SF
Price / SF$218.90
Days on Market5
Property Features for 132 Elm Street
General Information
Standard status
Active
Size
3,312 SF
Property subtype
MultiFamily
Building Details
Year Built
2024
Listing Agency:
Residential Properties Ltd.
(401) 245-9600
Listed By:
Collin Marchand · License #RES.0044072
(401) 626-9750
Source:
Lockandkeyre
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 3:44PM
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 Residential Properties Ltd.
Investment Insights
Based on property information with market context.
Completed in 2024, this 3,312-square-foot duplex contains two matching residences, each with three bedrooms and two full bathrooms. Together, the property offers six bedrooms and four full bathrooms. The kitchen, dining area, and living room share an open arrangement. Kitchen features include granite counters, stainless steel appliances, a double-door refrigerator, and an island with seating. Hardwood flooring runs through the living areas, and each residence has its own deck. Both homes also have HVAC systems and access to a basement with walk-out access, exterior stairs to the yard, and washer and dryer hookups.
Local shops, restaurants, coffee spots, and the YMCA are within walking distance. Route 295 provides access to surrounding communities.
Local shops, restaurants, coffee spots, and the YMCA are within walking distance. Route 295 provides access to surrounding communities.
Key Highlights
- Two residences with matching three‑bedroom, two‑bathroom layouts
- 3,312 square feet; six bedrooms and four full bathrooms combined
- Built in 2024
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
$55,146
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%
$1,102,920
$1.1M
Cap Rate 7%
$787,800
$787.8K
Cap Rate 9%
$612,733
$612.7K
Market Conditions
NOI Build-Up for 3,312 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
$84.3K $25.44/SF
− Vacancy
−$5.5K −$1.65/SF
EGI
$78.8K $23.79/SF
− OpEx
−$23.6K −$7.14/SF
NOI
$55.1K $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%
$1,102,920
Cap Rate 7%
$787,800
Cap Rate 9%
$612,733
Alternative Uses
Best Use
Multifamily LT 5
$787.8K
$689.3K – $919.1K
NOI $55,146 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$625.2K
$547.1K – $729.4K
NOI $43,766 @ 7.0% cap · market cap 6.04%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,177
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching homes combine open living areas with private outdoor decks and basement utility space.
Where is this duplex located?
The property is located at 132 Elm Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two residences with matching three‑bedroom, two‑bathroom layouts; 3,312 square feet; six bedrooms and four full bathrooms combined; Built in 2024
