Three-Unit Triplex with
New
For Sale
$679,700
142 Lincoln Avenue, Central Falls, RI 02863
Residential Income, Central Falls, RI
Property Size4,128 SF
Lot Size0.10 Acres
Price / SF$164.66
Days on Market3
Property Features for 142 Lincoln Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 5, Bedroom 2, Basement, Bedroom 1
Parking
3
Parking features
None
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Exterior features
Porch
Basement
Full, Unfinished
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Standard status
Active
Size
4,128 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6454
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Tile - Ceramic
Building materials
Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Filomena ALTIERI
(401) 486-2001
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 6:06AM
MLS# 1421203
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 three-unit multifamily property contains 4,128 square feet within a 1920 building on 0.0978 acres. Each residence has its own natural-gas, baseboard hot-water heating system. Interior finishes include a combination of drywall and plaster walls, hardwood and ceramic tile flooring, and mixed plumbing. The property also includes a basement, porches, gas water heating, and standard kitchen appliances including oven/ranges and refrigerators.
Located at 142 Lincoln Avenue in Central Falls, the property carries R-3 zoning and receives water service from the public system. There is no on-site parking. Vinyl siding completes the exterior, with porch areas providing additional outdoor space.
Located at 142 Lincoln Avenue in Central Falls, the property carries R-3 zoning and receives water service from the public system. There is no on-site parking. Vinyl siding completes the exterior, with porch areas providing additional outdoor space.
Key Highlights
- Three‑unit multifamily property with 4,128 square feet
- 0.0978‑acre lot in Central Falls, RI
- R‑3 zoning designation
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - R-3-zoned multifamily property with separate natural-gas baseboard systems serving each residence.
Where is this triplex located?
The property is located at 142 Lincoln Avenue 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: Three‑unit multifamily property with 4,128 square feet; 0.0978‑acre lot in Central Falls, RI; R‑3 zoning designation
