Two-Family Duplex with Vacant
New
For Sale
$399,900
193 Arnold Street, Woonsocket, RI 02895
Residential Income, Woonsocket, RI
Property Size2,168 SF
Lot Size0.09 Acres
Price / SF$184.46
Days on Market3
Property Features for 193 Arnold Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MU1
Bedrooms
8
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Basement, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 2, Bedroom 3, Bedroom 8, Bathroom 1, Bedroom 2
Parking
6
Parking features
None
Interior features
Wall (Dry Wall), Stairs, Plumbing (PVC), Insulation (Unknown)
Basement
Unfinished, Partial, Storage Space
Appliances
Gas Water Heater, Range Hood, Oven/Range, Refrigerator
Subdivision
Downtown
Lot features
Paved Driveway, Paved
Standard status
Active
Size
2,168 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3916
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Residential Properties Ltd
(401) 457-3400
Listed By:
Brent Runyon
(401) 602-6933
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 10 at 11:06PM
MLS# 1421396
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 two-unit residential property contains 2,168 square feet on a 0.085-acre lot and was built in 1900. One apartment is vacant, while the other is occupied under a month-to-month tenancy. The layout supports an owner-occupant arrangement or continued income use, subject to the existing tenancy.
Building systems include a shared natural-gas boiler, gas-fired hot water, and separate 100-amp circuit-breaker electrical service for each unit. Public water and public sewer serve the property. The owner pays for heat, while tenants pay their own electricity. Interior features include ceramic tile flooring, drywall, PVC plumbing, and gas appliances. The property is zoned MU1 and has no on-site parking.
Located in Woonsocket, the property offers access to downtown restaurants, shops, cultural attractions, and riverfront recreation. Route 146 provides connections toward Providence, Worcester, I-295, and I-495.
Building systems include a shared natural-gas boiler, gas-fired hot water, and separate 100-amp circuit-breaker electrical service for each unit. Public water and public sewer serve the property. The owner pays for heat, while tenants pay their own electricity. Interior features include ceramic tile flooring, drywall, PVC plumbing, and gas appliances. The property is zoned MU1 and has no on-site parking.
Located in Woonsocket, the property offers access to downtown restaurants, shops, cultural attractions, and riverfront recreation. Route 146 provides connections toward Providence, Worcester, I-295, and I-495.
Key Highlights
- 2,168‑square‑foot duplex on a 0.085‑acre lot
- One vacant apartment plus a second unit occupied month‑to‑month
- Shared natural‑gas boiler and gas hot water system
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
$36,098
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
9.03%
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%
$721,960
$722.0K
Cap Rate 7%
$515,686
$515.7K
Cap Rate 9%
$401,089
$401.1K
Market Conditions
NOI Build-Up for 2,168 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
$55.2K $25.44/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$51.6K $23.79/SF
− OpEx
−$15.5K −$7.14/SF
NOI
$36.1K $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 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%
$721,960
Cap Rate 7%
$515,686
Cap Rate 9%
$401,089
Alternative Uses
Best Use
Multifamily LT 5
$515.7K
$451.2K – $601.6K
NOI $36,098 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$409.3K
$358.1K – $477.5K
NOI $28,649 @ 7.0% cap · market cap 7.16%
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
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,108
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - One apartment is available for immediate occupancy while the second is leased on a month-to-month basis.
Where is this duplex located?
The property is located at 193 Arnold Street Woonsocket, 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: 2,168‑square‑foot duplex on a 0.085‑acre lot; One vacant apartment plus a second unit occupied month‑to‑month; Shared natural‑gas boiler and gas hot water system
