Four-Unit Residential
For Sale
$699,900
189 Vine Street, Pawtucket, RI 02861
The unit mix includes one- and two-bedroom apartments, each with a full bathroom.
Property Size3,008 SF
Price / SF$232.68
Days on Market35
Property Features for 189 Vine Street
General Information
Standard status
Active
Size
3,008 SF
Property subtype
MultiFamily
Units
Unit Mix
2 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty
(508) 695-4545
Listed By:
Kurt Franklin · License #9067361
(508) 446-0275
Source:
Lockandkeyre
Added: Sep 29
Changed: Nov 1
Last Checked: Nov 1 at 4:24AM
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 Realty
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Investment Insights
Based on property information with market context.
This 3,008-square-foot residential property contains four apartments: two with one bedroom and two with two bedrooms. Each unit has one full bathroom. Hardwood flooring is present in the interiors, and the building dates to 1900. Section 8 housing is in place.
The property is on Vine Street in Pawtucket’s Darlington neighborhood, near Slater Memorial Park and Pawtucket Country Club. Newport Avenue and routes serving Providence and Massachusetts are accessible from the area.
The property is on Vine Street in Pawtucket’s Darlington neighborhood, near Slater Memorial Park and Pawtucket Country Club. Newport Avenue and routes serving Providence and Massachusetts are accessible from the area.
Key Highlights
- Four apartments: two one‑bedroom units and two two‑bedroom units
- Each apartment has one full bathroom
- 3,008 square feet; built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,085
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,001,700
$1.0M
Cap Rate 7%
$715,500
$715.5K
Cap Rate 9%
$556,500
$556.5K
Market Conditions
NOI Build-Up for 3,008 SF
Gross rent
$76.5K $25.44/SF
− Vacancy
−$5.0K −$1.65/SF
EGI
$71.5K $23.79/SF
− OpEx
−$21.5K −$7.14/SF
NOI
$50.1K $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 Rate 5%
$1,001,700
Cap Rate 7%
$715,500
Cap Rate 9%
$556,500
Alternative Uses
Best Use
Multifamily LT 5
$715.5K
$626.1K – $834.8K
NOI $50,085 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$567.8K
$496.9K – $662.5K
NOI $39,749 @ 7.0% cap · market cap 5.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
618
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - The unit mix includes one- and two-bedroom apartments, each with a full bathroom.
Where is this quadplex located?
The property is located at 189 Vine Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Four apartments: two one‑bedroom units and two two‑bedroom units; Each apartment has one full bathroom; 3,008 square feet; built in 1900
