1640 Cranston Street Cranston, RI 02930
MULTI_FAMILY - Cranston, RI
Property Features for 1640 Cranston Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Basement, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 3
- Parking
- 6
- Parking features
- None
- Patio and Porch features
- Deck
- Interior features
- Attic, Plumbing (Mixed)
- Exterior features
- Deck
- Basement
- Unfinished, Storage Space, Full
- Appliances
- Gas Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 2,416 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5331
Utilities
- Heating system
- Baseboard, Natural Gas, Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Hardwood
Listing agent Miguel Camara (508) 543-3922
Listing office Re/Max Real Estate Center 30 Mechanic Street, Foxboro, RI (508) 543-3922
Listing date Jul 14, 2026
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.
The property sits on a corner lot and includes usable outdoor space and six off-street parking spaces. It is conveniently located near local restaurants, shops, churches, everyday amenities, and offers nearby bike path access.
As a two-unit configuration with dedicated laundry and separate utilities, the building is set up to support owner-occupancy alongside rental income or serve as a residential income asset.
Key Highlights
- Two‑family home built in 1920 with separate utilities and private in‑unit laundry for each unit
- Second‑floor unit offers approx. 1,208 sq. ft. with 3 bedrooms, 1 full bath, hardwood floors, updated kitchen, and private entry
- Second‑floor unit includes access to a private deck
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.5k | $25.44 |
| − Vacancy | −$4.0k | −$1.65 |
| EGI | $57.5k | $23.79 |
| − OpEx | −$17.2k | −$7.14 |
| NOI | $40.2k | $16.65 |
