5-Unit Apartment Building with Fenced
For Sale
$750,000
214 Estes Street, Woonsocket, RI 02895
A five-unit layout combines a multi-room first-floor residence with four separate apartments and shared basement laundry.
Property Size4,194 SF
Price / SF$178.83
Days on Market20
Property Features for 214 Estes Street
General Information
Standard status
Active
Size
4,194 SF
Total Parking Spaces
6
Property subtype
MultiFamily
Units
Unit Mix
1 x 4/5BR, 2 x 2BR, 2 x 1BR
Multifamily Units
5
Amenities
laundry
storage units
outbuilding
fenced yard
Building Details
Year Built
1916
Listing Agency:
RE/MAX Properties
(401) 232-3900
Listed By:
The Stearns McGee Team · License #S32155
(401) 356-1519
Source:
Lockandkeyre
Added: Oct 6
Changed: Oct 25
Last Checked: Oct 24 at 6:00PM
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 RE/MAX Properties
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Investment Insights
Based on property information with market context.
This 4,194-square-foot apartment building, constructed in 1916, contains five units. The first floor has seven rooms, four to five bedrooms, a large living room, an eat-in kitchen, a full bath, and extensive closet space. Four additional apartments include two two-bedroom units and two one-bedroom units. Hardwood floors run throughout the apartments, and tenants have separate utilities. The basement provides laundry facilities and individual storage areas. The building is described as code-compliant and has hardwired smoke and carbon monoxide alarms.
Outside, the property includes a paved driveway with parking for six cars, an outbuilding, and a large fenced yard. The address is 214 Estes Street in Woonsocket, Rhode Island, on the Blackstone MA line.
Outside, the property includes a paved driveway with parking for six cars, an outbuilding, and a large fenced yard. The address is 214 Estes Street in Woonsocket, Rhode Island, on the Blackstone MA line.
Key Highlights
- Five units: one first‑floor residence and four apartments
- 4,194 square feet; built in 1916
- Two apartments have two bedrooms; two have one bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,422
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,108,440
$1.1M
Cap Rate 7%
$791,743
$791.7K
Cap Rate 9%
$615,800
$615.8K
Market Conditions
NOI Build-Up for 4,194 SF
Gross rent
$107.2K $25.56/SF
− Vacancy
−$6.4K −$1.53/SF
EGI
$100.8K $24.03/SF
− OpEx
−$45.3K −$10.81/SF
NOI
$55.4K $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%
$1,108,440
Cap Rate 7%
$791,743
Cap Rate 9%
$615,800
Alternative Uses
Best Use
Apartment 5plus
$791.7K
$692.8K – $923.7K
NOI $55,422 @ 7.0% cap · market cap 7.39%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$997.6K
$872.9K – $1.16M
NOI $69,832 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A five-unit layout combines a multi-room first-floor residence with four separate apartments and shared basement laundry.
Where is this apartment building located?
The property is located at 214 Estes Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Five units: one first‑floor residence and four apartments; 4,194 square feet; built in 1916; Two apartments have two bedrooms; two have one bedroom
