Three-Unit Triplex with
New
For Sale
$550,000
3 BARRETT Street, Cumberland, RI 02864
Three-unit residential property with spacious layouts, vinyl siding, a yard, and on-site parking.
Property Size3,462 SF
Price / SF$158.87
Days on Market4
Property Features for 3 BARRETT Street
General Information
Standard status
Active
Size
3,462 SF
Property subtype
MultiFamily
Units
Unit Mix
2 x 3BR, 1 x 2BR
Multifamily Units
3
Additional Details
Road Access
Yes
Building Details
Year Built
1900
Listing Agency:
Noel Realty Company
(401) 728-5100
Listed By:
Betsey DaSilva · License #RES.0035713
Source:
Lockandkeyre
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 5 at 2:52PM
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 Noel Realty Company
Investment Insights
Based on property information with market context.
This three-unit property offers 3,462 square feet across a configuration with three bedrooms on the first floor, three bedrooms on the second floor, and two bedrooms on the third floor. Each unit is described as spacious, with vinyl siding serving as a notable exterior feature. The property was built in 1900 and includes a yard with parking.
Set on a dead-end street in Cumberland, Rhode Island, the property is being sold as-is. It is served by a cesspool and will not pass FHA financing, providing important considerations for acquisition and due diligence.
Set on a dead-end street in Cumberland, Rhode Island, the property is being sold as-is. It is served by a cesspool and will not pass FHA financing, providing important considerations for acquisition and due diligence.
Key Highlights
- Three‑unit property with 3,462 SF
- Unit mix includes two 3‑bedroom units and one 2‑bedroom unit
- Built in 1900 with vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,749
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$914,980
$915.0K
Cap Rate 7%
$653,557
$653.6K
Cap Rate 9%
$508,322
$508.3K
Market Conditions
NOI Build-Up for 3,462 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$88.5K $25.56/SF
− Vacancy
−$5.3K −$1.53/SF
EGI
$83.2K $24.03/SF
− OpEx
−$37.4K −$10.81/SF
NOI
$45.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$914,980
Cap Rate 7%
$653,557
Cap Rate 9%
$508,322
Alternative Uses
Best Use
Multifamily LT 5
$823.5K
$720.6K – $960.7K
NOI $57,644 @ 7.0% cap · market cap 10.48%
Second Best
Apartment 5plus
$653.6K
$571.9K – $762.5K
NOI $45,749 @ 7.0% cap · market cap 8.32%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
260
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with spacious layouts, vinyl siding, a yard, and on-site parking.
Where is this triplex located?
The property is located at 3 BARRETT Street Cumberland, RI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three‑unit property with 3,462 SF; Unit mix includes two 3‑bedroom units and one 2‑bedroom unit; Built in 1900 with vinyl siding
