Triplex with Detached
New
For Sale
$599,900
32 Money Hill Road, Glocester, RI 02814
Residential Income, Glocester, RI
Property Size2,952 SF
Lot Size1.45 Acres
Price / SF$203.22
Days on Market3
Property Features for 32 Money Hill Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 7, Bathroom 2, Bathroom 3, Basement, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 6, Bathroom 1, Bedroom 5
Parking
3
Interior features
Wall (Plaster), Attic, Plumbing (Mixed), Insulation (Unknown)
Basement
Storage Space, Full, Unfinished
Appliances
Electric Water Heater
Lot features
Barn
Standard status
Active
Size
2,952 SF
Lot size
1.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6106
Utilities
Sewer type
Cesspool
Heating system
Oil, Forced Air, Baseboard, Natural Gas, Electric (Heating)
Water source
Well
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Tile - Ceramic
Building materials
Plaster, Clapboard
Listing Agency:
Re/Max Bell Park · RE/MAX International
(860) 774-7600
Listed By:
Nicole Garbutt
(860) 933-4304
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 5 at 6:06PM
MLS# 1422513
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.
Investment Insights
Based on property information with market context.
This 2,952-square-foot triplex was built in 1900 and sits on 1.45 acres in Chepachet. The unit mix includes one three-bedroom apartment and two two-bedroom apartments. Two units are occupied, while the third is vacant and unfinished. Interior features include plaster walls, attic space, mixed plumbing, hardwood flooring, and ceramic tile. The property is served by a well and cesspool, with an electric water heater.
Exterior improvements include a detached barn and a spacious yard. Located at 32 Money Hill Road in Glocester, the property offers a three-unit residential configuration with additional storage space on the site.
Exterior improvements include a detached barn and a spacious yard. Located at 32 Money Hill Road in Glocester, the property offers a three-unit residential configuration with additional storage space on the site.
Key Highlights
- Three‑unit property with one 3‑bedroom and two 2‑bedroom apartments
- 2,952 square feet on 1.45 acres
- Two units occupied; third unit vacant and unfinished
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
$49,152
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
8.19%
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%
$983,040
$983.0K
Cap Rate 7%
$702,171
$702.2K
Cap Rate 9%
$546,133
$546.1K
Market Conditions
NOI Build-Up for 2,952 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
$75.1K $25.44/SF
− Vacancy
−$4.9K −$1.65/SF
EGI
$70.2K $23.79/SF
− OpEx
−$21.1K −$7.14/SF
NOI
$49.2K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
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%
$983,040
Cap Rate 7%
$702,171
Cap Rate 9%
$546,133
Alternative Uses
Best Use
Multifamily LT 5
$702.2K
$614.4K – $819.2K
NOI $49,152 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$557.3K
$487.6K – $650.2K
NOI $39,009 @ 7.0% cap · market cap 6.50%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include two occupied apartments and a vacant, unfinished unit for completion.
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 $599,900.
What are key features of this property?
This property features: Three‑unit property with one 3‑bedroom and two 2‑bedroom apartments; 2,952 square feet on 1.45 acres; Two units occupied; third unit vacant and unfinished
