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    Two-Family Residential Investment Title is generated by Realmo AI

    227 Rathbun Street, Woonsocket, RI 02895

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    New
    For Sale
    $399,999

    MULTI_FAMILY - Woonsocket, RI

    Property size:
    4,142 SF
    Lot size:
    0.20 Acres
    Price / SF:
    $96/SF
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 227 Rathbun Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R4
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Basement, Bedroom 4
    Parking
    7
    Interior features
    Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Attic, Skylight, Plumbing (Mixed), Insulation (Unknown)
    Fireplace
    1
    Basement
    Full, Unfinished, Storage Space
    Appliances
    Gas Water Heater
    Standard status
    Active
    Size
    4,142 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4156

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Natural Gas

    Building Details

    Year built
    1900
    Number of units
    2
    Flooring type
    Hardwood, Laminate
    Building materials
    Dry Wall, Paneled, Plaster, Shingles

    We can help!

    Listing Contact
    Eric Brouillard

    Listing agent Eric Brouillard License #S40578

    Listing office Re/Max Properties 696 Douglas Pike, SMITHFIELD, RI

    Listing date Jun 3, 2026

    MLS# 1414331 Listing URL

    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.

    HighLights

    • 2‑family home built in 1900 with two separate units: 2 BR/1 bath on the 1st floor and 3 BR/1 bath on the 2nd floor
    • Skylights and an enclosed porch, plus a private backyard
    • Newer windows reported, along with a newer roof and updated electrical
    • Gas heat with baseboard heating and a gas water heater
    • 1‑car garage and public sewer connection
    • Fireplace present; interior includes hardwood and laminate flooring and mixed wall finishes (dry wall, paneled, plaster)

    Overview

    This sweet two-family residence offers flexible living arrangements with two bedrooms and one bath on the first floor and three bedrooms and one bath on the second floor. The home includes an enclosed porch, private back yard, and a one-car garage. Recent improvements noted in the property remarks include newer windows and a newer roof, along with updated electrical. Interior features include carpeted areas and skylights, and the layout is described as having rooms well-sized for family living.

    Located in Woonsocket, the property is close to shopping and restaurants, with a park also noted down the street. Access to everyday conveniences may appeal to both tenants and buyers seeking a straightforward, lifestyle-oriented rental or owner-occupied setup.

    With a larger second-floor unit and a smaller first-floor unit, this configuration can suit investors and owner-occupants looking for differentiated space within the same building. The enclosed porch, private yard, and garage add everyday usability, while the update highlights can support a smoother transition for a new owner. The listing also emphasizes that the home’s appearance can be deceiving, encouraging appointments to fully appreciate the space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.502857
    Latitude
    42.011987

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    FAQs

    What type of property is this?
    Duplex - Well-maintained two-family with private back yard, garage, newer windows, and updated electrical for practical owner-occupant or rental use.
    Where is this duplex located?
    The property is located at 227 Rathbun Street Woonsocket, RI.
    What is the asking price?
    The asking price for this property is $399,999.
    What are key features of this property?
    This property features: 2‑family home built in 1900 with two separate units: 2 BR/1 bath on the 1st floor and 3 BR/1 bath on the 2nd floor; Skylights and an enclosed porch, plus a private backyard; Newer windows reported, along with a newer roof and updated electrical
    (401) 232-3900
    We can help!
    Listing Contact
    Eric Brouillard
    Real Estate License ID: S40578
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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