Two-Unit Duplex with Separate
For Sale
$399,900
147 Bloodgood Street, Pawtucket, RI 02861
Two residential units feature separate utilities and hardwood flooring.
Property Size1,366 SF
Price / SF$292.75
Days on Market11
Property Features for 147 Bloodgood Street
General Information
Standard status
Active
Size
1,366 SF
Property subtype
MultiFamily
Property Condition
Severity
Repairs Needed
Evidence
needs updating
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Building Details
Year Built
1930
Listing Agency:
Mateus Realty
(401) 434-8399
Listed By:
Jeffrey Mateus · License #REB.0018097
(401) 447-9459
Source:
Lockandkeyre
Added: Sep 17
Changed: Sep 26
Last Checked: Sep 26 at 8:42AM
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 Mateus Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential units within a 1930-built property. The first-floor residence has two bedrooms, while the upper-level residence has one bedroom. Hardwood flooring and separately metered utilities are existing features, and the layout provides distinct living spaces for each unit.
Located at 147 Bloodgood Street in Pawtucket’s Darlington area, the property requires updating. The condition and existing configuration should be evaluated alongside renovation plans. The property will not qualify for FHA financing.
Located at 147 Bloodgood Street in Pawtucket’s Darlington area, the property requires updating. The condition and existing configuration should be evaluated alongside renovation plans. The property will not qualify for FHA financing.
Key Highlights
- Two‑unit duplex with a 2‑bedroom first‑floor unit and 1‑bedroom second‑floor unit
- Separate utilities for the residential units
- Hardwood flooring
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
$22,745
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
5.69%
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%
$454,900
$454.9K
Cap Rate 7%
$324,929
$324.9K
Cap Rate 9%
$252,722
$252.7K
Market Conditions
NOI Build-Up for 1,366 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
$34.8K $25.44/SF
− Vacancy
−$2.3K −$1.65/SF
EGI
$32.5K $23.79/SF
− OpEx
−$9.7K −$7.14/SF
NOI
$22.7K $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%
$454,900
Cap Rate 7%
$324,929
Cap Rate 9%
$252,722
Alternative Uses
Best Use
Multifamily LT 5
$324.9K
$284.3K – $379.1K
NOI $22,745 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$257.9K
$225.6K – $300.9K
NOI $18,051 @ 7.0% cap · market cap 4.51%
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
2
Residential units
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
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Business Placement
Demographics for 02861, RI
27,833
Population
11,928
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
3.6 sq mi
ZIP Area
7,731
Density / Sq Mi
$83,044
Median Household Income
$47,384
Median Earnings
$1,278
Median Rent
$285,200
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 residential units feature separate utilities and hardwood flooring.
Where is this duplex located?
The property is located at 147 Bloodgood Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom first‑floor unit and 1‑bedroom second‑floor unit; Separate utilities for the residential units; Hardwood flooring
