3-Unit Residential
28 Chestnut Street, Central Falls, RI 02863
For Sale
New
$529,900
Three levels of living space sit above an unfinished basement, with repairs and updates needed.
Property Size3,258 SF
Price / SF$162.65
Days on Market1
Property Features for 28 Chestnut Street
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Additional Details
Multifamily Units
Building Details
Year Built
Stories
Listing Agency:
Real Broker, LLC
Listed By:
Carole Mckeon · License RI #46630
(508) 889-5737
Source:
Onshorerealtors
Added: Nov 12
Last Checked: Nov 12 at 2:21PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
Built in 1900, this three-unit residential property contains 3,258 square feet across three levels. An additional 1,008-square-foot basement remains unfinished. The building requires repairs and updates and is being offered in its current condition.
Key Highlights
- Three residential units in a 3,258‑square‑foot building
- Three levels of building space
- Additional 1,008‑square‑foot unfinished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,053
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$861,060
$861.1K
Cap Rate 7%
$615,043
$615.0K
Cap Rate 9%
$478,367
$478.4K
Market Conditions
NOI Build-Up for 3,258 SF
Gross rent
$83.3K $25.56/SF
− Vacancy
−$5.0K −$1.53/SF
EGI
$78.3K $24.03/SF
− OpEx
−$35.2K −$10.81/SF
NOI
$43.1K $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%
$861,060
Cap Rate 7%
$615,043
Cap Rate 9%
$478,367
Alternative Uses
Best Use
Multifamily LT 5
$775.0K
$678.1K – $904.1K
NOI $54,247 @ 7.0% cap · market cap 10.24%
Second Best
Apartment 5plus
$615.0K
$538.2K – $717.6K
NOI $43,053 @ 7.0% cap · market cap 8.12%
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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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
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Business Placement
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Providence County, RI
Properties on Market for Triplexes in Providence County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three levels of living space sit above an unfinished basement, with repairs and updates needed.
Where is this triplex located?
The property is located at 28 Chestnut Street Central Falls, RI.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Three residential units in a 3,258‑square‑foot building; Three levels of building space; Additional 1,008‑square‑foot unfinished basement
