Renovated Two-Family
For Sale
$540,000
40 Barber Avenue, Central Falls, RI 02863
Renovated duplex with updated systems and adaptable third-level space.
Property Size1,744 SF
Price / SF$309.63
Days on Market54
Property Features for 40 Barber Avenue
General Information
Standard status
Active
Size
1,744 SF
Property subtype
MultiFamily
Additional Details
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX Properties
(401) 232-3900
Listed By:
Rachel Baptista Da Moeda · License #RES.0042193
(401) 692-1796
Source:
Lockandkeyre
Added: Sep 14
Changed: Nov 5
Last Checked: Nov 4 at 2:45PM
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 RE/MAX Properties
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Investment Insights
Based on property information with market context.
This renovated two-family duplex contains 1,744 square feet and was built in 1900. The first-floor unit includes two bedrooms, one bathroom, an eat-in kitchen, and a separate dining room. The second-floor residence also offers two bedrooms and one bathroom, with an additional third-level area that can serve as a bedroom, office, or flex space.
Recent improvements include a new roof, updated heating systems, and new electrical wiring with a dedicated house panel. The property also provides a secluded backyard and generous frontage, although it currently lacks a driveway. Located on a dead-end street in Central Falls, the home is within walking distance of local shops, services, and amenities.
Recent improvements include a new roof, updated heating systems, and new electrical wiring with a dedicated house panel. The property also provides a secluded backyard and generous frontage, although it currently lacks a driveway. Located on a dead-end street in Central Falls, the home is within walking distance of local shops, services, and amenities.
Key Highlights
- Renovated two‑family duplex with 1,744 square feet
- Two bedrooms and one bathroom in each primary unit
- Third‑level area offers bedroom, office, or flex‑space potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,038
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,760
$580.8K
Cap Rate 7%
$414,829
$414.8K
Cap Rate 9%
$322,644
$322.6K
Market Conditions
NOI Build-Up for 1,744 SF
Gross rent
$44.4K $25.44/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$41.5K $23.79/SF
− OpEx
−$12.4K −$7.14/SF
NOI
$29.0K $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 Rate 5%
$580,760
Cap Rate 7%
$414,829
Cap Rate 9%
$322,644
Alternative Uses
Best Use
Multifamily LT 5
$414.8K
$363.0K – $484.0K
NOI $29,038 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$329.2K
$288.1K – $384.1K
NOI $23,046 @ 7.0% cap · market cap 4.27%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
778
Businesses Nearby
Explore this area
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 Duplexes in Providence County, RI
Properties on Market for Duplexes in Providence County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex with updated systems and adaptable third-level space.
Where is this duplex located?
The property is located at 40 Barber Avenue Central Falls, RI.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Renovated two‑family duplex with 1,744 square feet; Two bedrooms and one bathroom in each primary unit; Third‑level area offers bedroom, office, or flex‑space potential
