Updated Triplex with Coin
For Sale
$630,000
177 Logee Street, Woonsocket, RI 02895
Three-family property with recent unit updates, basement laundry, and off-street parking near shopping and restaurants.
Property Size2,600 SF
Price / SF$242.31
Days on Market139
Property Features for 177 Logee Street
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
shared coin-operated laundry
Forced Air
Gas
Steam
Dryer
Dishwasher
Gas Water Heater
Microwave
Oven
Range
Refrigerator
Water Heater
Washer
Building Details
Year Built
1920
Stories
3
Listing Agency:
Keller Williams Leading Edge
(401) 651-8141
Listed By:
Melanie Ruiz · License #MA
(401) 651-8141
Source:
Kw
Added: Apr 10
Changed: Aug 24
Last Checked: Aug 25 at 5:19PM
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 Keller Williams Leading Edge
Investment Insights
Based on property information with market context.
This three-family property in Woonsocket includes 7 bedrooms and 3 full bathrooms across approximately 2,600 square feet. Each unit was updated within the past three years, and required lead certificates are in place. One unit is currently vacant. The building was constructed in 1920 and includes gas appliances, forced-air and steam systems, dishwashers, refrigerators, ranges, ovens, microwaves, and water heaters.
The basement provides shared coin-operated laundry, while off-street parking accommodates three vehicles. Located on Logee Street near shopping, restaurants, and everyday amenities, the property offers a flexible configuration for a buyer seeking a multifamily asset with one available unit.
The basement provides shared coin-operated laundry, while off-street parking accommodates three vehicles. Located on Logee Street near shopping, restaurants, and everyday amenities, the property offers a flexible configuration for a buyer seeking a multifamily asset with one available unit.
Key Highlights
- Three‑family property with 7 bedrooms and 3 full bathrooms
- Approximately 2,600 square feet across the property
- All units updated within the past three years
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
$43,291
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
6.87%
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%
$865,820
$865.8K
Cap Rate 7%
$618,443
$618.4K
Cap Rate 9%
$481,011
$481.0K
Market Conditions
NOI Build-Up for 2,600 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
$66.1K $25.44/SF
− Vacancy
−$4.3K −$1.65/SF
EGI
$61.8K $23.79/SF
− OpEx
−$18.6K −$7.14/SF
NOI
$43.3K $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%
$865,820
Cap Rate 7%
$618,443
Cap Rate 9%
$481,011
Alternative Uses
Best Use
Multifamily LT 5
$618.4K
$541.1K – $721.5K
NOI $43,291 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$490.8K
$429.5K – $572.6K
NOI $34,358 @ 7.0% cap · market cap 5.45%
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
594
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
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 - Three-family property with recent unit updates, basement laundry, and off-street parking near shopping and restaurants.
Where is this triplex located?
The property is located at 177 Logee Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Three‑family property with 7 bedrooms and 3 full bathrooms; Approximately 2,600 square feet across the property; All units updated within the past three years
