Two-Building Multifamily
For Sale
$549,000
2 Plainfield Pike, Foster, RI 02825
Residential Income, Foster, RI
Property Size2,378 SF
Lot Size0.32 Acres
Price / SF$230.87
Days on Market57
Property Features for 2 Plainfield Pike
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
0030
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 5, Bathroom 3, Basement, Bathroom 2, Bathroom 1
Parking
7
Interior features
Wall (Dry Wall), Wall (Plaster), Wall (Wood), Plumbing (Mixed)
Basement
Full, Unfinished
Appliances
Oven, Range, Refrigerator, Electric Water Heater
Subdivision
Foster
Standard status
Active
Size
2,378 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8752
Utilities
Sewer type
Septic Tank
Heating system
Steam, Baseboard, Oil
Water source
Well
Amenities
laundry facilities
fenced yard
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Laminate, Tile - Ceramic, Carpet
Building materials
Dry Wall, Plaster, Wood Wall(s), Vinyl Siding
Buildings
2
Listing Agency:
Real Broker, Llc
(855) 450-0442
Listed By:
Robert Sweeney · License #40013
(401) 741-6931
Added: Sep 11
Changed: Oct 31
Last Checked: Nov 6 at 12:06PM
MLS# 1423129
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.
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Investment Insights
Based on property information with market context.
The property at 2 Plainfield Pike comprises two buildings on a 0.32-acre lot. The main residence contains approximately 1,520 square feet, with an updated kitchen and bathroom on the first floor. A second building combines garage and workspace areas with a two-bedroom, one-bath apartment above. Four garage bays are described, including three framed openings that can be restored as usable bays. Laundry facilities are present in both buildings.
The site has a fully fenced yard, a private well, and a septic system. The property is in Foster, Rhode Island, and was built in 1910.
The site has a fully fenced yard, a private well, and a septic system. The property is in Foster, Rhode Island, and was built in 1910.
Key Highlights
- Two buildings on a 0.32‑acre lot in Foster, RI
- Main house contains approximately 1,520 square feet
- Second building has a two‑bedroom, one‑bath apartment above the garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,424
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,480
$628.5K
Cap Rate 7%
$448,914
$448.9K
Cap Rate 9%
$349,156
$349.2K
Market Conditions
NOI Build-Up for 2,378 SF
Gross rent
$60.8K $25.56/SF
− Vacancy
−$3.6K −$1.53/SF
EGI
$57.1K $24.03/SF
− OpEx
−$25.7K −$10.81/SF
NOI
$31.4K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,480
Cap Rate 7%
$448,914
Cap Rate 9%
$349,156
Alternative Uses
Best Use
Apartment 5plus
$448.9K
$392.8K – $523.7K
NOI $31,424 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$565.6K
$494.9K – $659.9K
NOI $39,595 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
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Business Placement
Demographics for 02825, RI
5,265
Population
2,027
Households
2.6
Avg Household Size
47
Median Age
34%
College-Educated
94%
High-School Grad
55.0 sq mi
ZIP Area
96
Density / Sq Mi
$110,177
Median Household Income
$51,550
Median Earnings
$1,525
Median Rent
$398,900
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Providence County, RI
Properties on Market for Multifamily properties in Providence County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - A separate garage building includes an apartment above, along with space for vehicles, equipment, and storage.
Where is this multifamily property located?
The property is located at 2 Plainfield Pike Foster, RI.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two buildings on a 0.32‑acre lot in Foster, RI; Main house contains approximately 1,520 square feet; Second building has a two‑bedroom, one‑bath apartment above the garage
