Three-Unit Multifamily
New
For Sale
$679,700
142 Lincoln Ave, Central Falls, RI 02863
Residential income property with separate gas baseboard hot water heating serving each unit.
Property Size4,128 SF
Price / SF$164.66
Days on Market6
Property Features for 142 Lincoln Ave
General Information
Standard status
Active
Size
4,128 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1920
Listing Agency:
RI Real Estate Services
Listed By:
Filomena ALTIERI
Source:
Alpernandmesenbourg
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 7:26AM
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 RI Real Estate Services
Investment Insights
Based on property information with market context.
This 3-unit multifamily property contains 4,128 square feet and was built in 1920. Each residence has its own gas baseboard hot water heating system, providing separately served heating across the building. The property is configured for residential income use and may also suit an owner-occupant seeking to live on site while maintaining additional units.
Located at 142 Lincoln Ave in Central Falls, RI, the building is positioned within an established residential setting. The property is offered for sale and provides a three-unit configuration for evaluating rental operations or owner occupancy.
Located at 142 Lincoln Ave in Central Falls, RI, the building is positioned within an established residential setting. The property is offered for sale and provides a three-unit configuration for evaluating rental operations or owner occupancy.
Key Highlights
- 3‑unit multifamily property
- 4,128 square feet of building area
- Separate gas baseboard hot water heating in each unit
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
$54,550
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
8.03%
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%
$1,091,000
$1.1M
Cap Rate 7%
$779,286
$779.3K
Cap Rate 9%
$606,111
$606.1K
Market Conditions
NOI Build-Up for 4,128 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
$105.5K $25.56/SF
− Vacancy
−$6.3K −$1.53/SF
EGI
$99.2K $24.03/SF
− OpEx
−$44.6K −$10.81/SF
NOI
$54.5K $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%
$1,091,000
Cap Rate 7%
$779,286
Cap Rate 9%
$606,111
Alternative Uses
Best Use
Multifamily LT 5
$981.9K
$859.2K – $1.15M
NOI $68,733 @ 7.0% cap · market cap 10.11%
Second Best
Apartment 5plus
$779.3K
$681.9K – $909.2K
NOI $54,550 @ 7.0% cap · market cap 8.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,022
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
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Frequently Asked Questions
What type of property is this?
Triplex - Residential income property with separate gas baseboard hot water heating serving each unit.
Where is this triplex located?
The property is located at 142 Lincoln Ave Central Falls, RI.
What is the asking price?
The asking price for this property is $679,700.
What are key features of this property?
This property features: 3‑unit multifamily property; 4,128 square feet of building area; Separate gas baseboard hot water heating in each unit
