Updated Triplex with Three-Bedroom
For Sale
$489,000
201 High Street, Woonsocket, RI 02895
Three residential apartments offer one-, two-, and three-bedroom layouts with newer appliances and basement laundry hookups.
Property Size3,296 SF
Price / SF$148.36
Days on Market10
Property Features for 201 High Street
General Information
Standard status
Active
Size
3,296 SF
Property subtype
Multi-Family
Units
Unit Mix
1BR, 2BR, 3BR
Multifamily Units
3
Amenities
laundry hookup
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
REMAX Revolution
Listed By:
Karen Moreau · License #17211
(401) 921-5011
Source:
Onshorerealtors
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 26 at 4:08AM
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 REMAX Revolution
Investment Insights
Based on property information with market context.
This 3,296-square-foot triplex, built in 1900, contains three apartments arranged across two floors. The first floor includes one two-bedroom unit and one one-bedroom unit, while the second floor provides a three-bedroom apartment. The upper-level residence has been refreshed with new hardwood flooring, interior doors, and paint. Newer appliances serve the apartments, and laundry hookups are available in the basement.
The property is near downtown Woonsocket, with Stadium Theatre, Cold Spring Park, shopping, and restaurants located minutes away. Tenants are on a TAW basis, and the owner pays heat only. The combination of a varied bedroom mix, updated second-floor finishes, and established neighborhood access supports continued residential use.
The property is near downtown Woonsocket, with Stadium Theatre, Cold Spring Park, shopping, and restaurants located minutes away. Tenants are on a TAW basis, and the owner pays heat only. The combination of a varied bedroom mix, updated second-floor finishes, and established neighborhood access supports continued residential use.
Key Highlights
- 3,296‑square‑foot triplex built in 1900
- Three apartments with one-, two-, and three‑bedroom layouts
- Second‑floor unit updated with new hardwood floors, interior doors, and paint
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
$43,555
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
8.91%
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%
$871,100
$871.1K
Cap Rate 7%
$622,214
$622.2K
Cap Rate 9%
$483,944
$483.9K
Market Conditions
NOI Build-Up for 3,296 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
$84.2K $25.56/SF
− Vacancy
−$5.1K −$1.53/SF
EGI
$79.2K $24.03/SF
− OpEx
−$35.6K −$10.81/SF
NOI
$43.6K $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%
$871,100
Cap Rate 7%
$622,214
Cap Rate 9%
$483,944
Alternative Uses
Best Use
Multifamily LT 5
$784.0K
$686.0K – $914.7K
NOI $54,880 @ 7.0% cap · market cap 11.22%
Second Best
Apartment 5plus
$622.2K
$544.4K – $725.9K
NOI $43,555 @ 7.0% cap · market cap 8.91%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,108
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?
Triplex - Three residential apartments offer one-, two-, and three-bedroom layouts with newer appliances and basement laundry hookups.
Where is this triplex located?
The property is located at 201 High Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 3,296‑square‑foot triplex built in 1900; Three apartments with one-, two-, and three‑bedroom layouts; Second‑floor unit updated with new hardwood floors, interior doors, and paint
