Building Details

Year Built 1900

Listing Agency: Re/Max Bell Park Show Phone

Listed By: Nicole Garbutt · License #RES.0033477 Show Phone

Source: Lockandkeyre

Added: Sep 3 Changed: Oct 25 Last Checked: Oct 24 at 5:57PM

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Investment Insights

Based on property information with market context.

This three-unit residential property contains 2,952 square feet and was built in 1900. The configuration includes one three-bedroom apartment and two two-bedroom apartments. Two units are occupied, while the remaining unit is vacant and unfinished, providing space for completion and customization.

The property occupies 1.45 acres at 32 Money Hill Road in Glocester, Rhode Island. Exterior features include a spacious yard and a detached barn that provides additional storage space. The property is located in Chepachet and offers a combination of residential units, open land, and accessory storage improvements.

Key Highlights

• Three‑unit property with one 3‑bedroom unit and two 2‑bedroom units
• 2,952 square feet on 1.45 acres
• Two units occupied; third unit vacant and unfinished

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,009

Cap Rate

7.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$780,180 $780.2K

Cap Rate 7%

$557,271 $557.3K

Cap Rate 9%

$433,433 $433.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,952 SF

Gross rent

$75.5K $25.56/SF

− Vacancy

−$4.5K −$1.53/SF

EGI

$70.9K $24.03/SF

− OpEx

−$31.9K −$10.81/SF

NOI

$39.0K $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%

$780,180

Cap Rate 7%

$557,271

Cap Rate 9%

$433,433

Alternative Uses

Best Use

Multifamily LT 5

$702.2K

$614.4K – $819.2K (±1% cap)

NOI $49,152 @ 7.0% cap · market cap 9.83%

Second Best

Apartment 5plus

$557.3K

$487.6K – $650.2K (±1% cap)

NOI $39,009 @ 7.0% cap · market cap 7.80%

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

Location Intelligence

Trade Area within ½ mile

143

Businesses Nearby

Explore this area Business Placement

Demographics for 02814, RI

7,549

Population

3,249

Households

2.3

Avg Household Size

48

Median Age

32%

College-Educated

95%

High-School Grad

43.4 sq mi

ZIP Area

174

Density / Sq Mi

$109,632

Median Household Income

$58,446

Median Earnings

$1,046

Median Rent

$376,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Three-unit residential property with a mixed bedroom layout, one unfinished apartment, and a detached barn for storage.

Where is this triplex located?

The property is located at 32 Money Hill Road Glocester, RI.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Three‑unit property with one 3‑bedroom unit and two 2‑bedroom units; 2,952 square feet on 1.45 acres; Two units occupied; third unit vacant and unfinished