Three-Unit Triplex with
For Sale
$550,000
Pending
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
Days on Market55
Property Features for 3 BARRETT Street
General Information
Standard status
Pending
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: Oct 25
Last Checked: Oct 26 at 3:49PM
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
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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 / Yr
$45,749
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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
