Building Details

Year Built 1900

Listing Agency: Century 21 Limitless Show Phone

Listed By: Pacheco Homes Team Show Phone

Source: Lockandkeyre

Added: Oct 22 Changed: Oct 25 Last Checked: Oct 25 at 2:34AM

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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 Century 21 Limitless

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Investment Insights

Based on property information with market context.

This 1,976-square-foot duplex, built in 1900, has two residential units. The first-floor unit contains three bedrooms, two full bathrooms, and a flexible room; its front living room is currently used as a small storefront. That unit will be vacant at closing. Upstairs, the second unit has two bedrooms and one full bathroom. The property also includes a basement, a newer Navien system, and an oversized shed or outbuilding.

The property is at 195 Cross Street in Central Falls, within minutes of shopping, local amenities, and a train station.

Key Highlights

• First‑floor unit has 3 bedrooms, 2 full bathrooms, and a flex room
• Front living room currently used as a small storefront
• First‑floor unit delivered vacant at closing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,901

Cap Rate

6.65%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$658,020 $658.0K

Cap Rate 7%

$470,014 $470.0K

Cap Rate 9%

$365,567 $365.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,976 SF

Gross rent

$50.3K $25.44/SF

− Vacancy

−$3.3K −$1.65/SF

EGI

$47.0K $23.79/SF

− OpEx

−$14.1K −$7.14/SF

NOI

$32.9K $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%

$658,020

Cap Rate 7%

$470,014

Cap Rate 9%

$365,567

Alternative Uses

Best Use

Multifamily LT 5

$470.0K

$411.3K – $548.4K (±1% cap)

NOI $32,901 @ 7.0% cap · market cap 6.65%

Second Best

Apartment 5plus

$373.0K

$326.4K – $435.2K (±1% cap)

NOI $26,112 @ 7.0% cap · market cap 5.28%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Botanica Omi Yemaya Religious Bookstore

Suggested Use

Top Pick Real Estate Agency Plumbing Service Carpet & Flooring Store Acupuncture HVAC Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,629

Businesses Nearby

Explore this area Business Placement

Demographics for 02864, RI

36,376

Population

14,735

Households

2.5

Avg Household Size

43

Median Age

43%

College-Educated

92%

High-School Grad

26.5 sq mi

ZIP Area

1,373

Density / Sq Mi

$118,737

Median Household Income

$62,041

Median Earnings

$1,251

Median Rent

$394,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - The first-floor unit will be delivered vacant and includes a storefront area currently used for retail activity.

Where is this duplex located?

The property is located at 195 Cross Street Central Falls, RI.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: First‑floor unit has 3 bedrooms, 2 full bathrooms, and a flex room; Front living room currently used as a small storefront; First‑floor unit delivered vacant at closing