Two-Unit Duplex with Flexible Third-Level
For Sale
$540,000
40 Barber Avenue, Central Falls, RI 02863
Residential Income, Central Falls, RI
Property Size1,744 SF
Lot Size0.08 Acres
Price / SF$309.63
Days on Market54
Property Features for 40 Barber Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 2, Basement, Bathroom 2, Bedroom 4, Bedroom 3
Parking features
None
Interior features
Wall (Dry Wall), Attic Stairs, Plumbing (PVC), Insulation (Walls)
Basement
Full, Storage Space, Unfinished
Appliances
Dishwasher, Microwave, Oven, Range, Refrigerator, Gas Water Heater
Subdivision
Lonsdale
Lot features
Fenced
Standard status
Active
Size
1,744 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3255
Utilities
Heating system
Space Heater, Natural Gas
Amenities
backyard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Dry Wall, Vinyl Siding
Buildings
1
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Rachel Baptista Da Moeda · License #RES.0042193
(401) 692-1796
Added: Sep 14
Changed: Nov 2
Last Checked: Nov 6 at 1:06PM
MLS# 1423330
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.
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Investment Insights
Based on property information with market context.
This R2-zoned duplex contains two units within 1,744 square feet. Each main unit has two bedrooms and one bathroom; the upper unit also includes a third-level area that can serve as additional living or work space. Interior details include hardwood and ceramic tile flooring, and the home has vinyl siding.
The 0.0767-acre property is located at 40 Barber Avenue in Central Falls. Improvements include a new roof, updated heating systems and new electrical with a dedicated house panel. There is no on-site parking, and the lot’s frontage may support adding a driveway, subject to applicable approvals.
The 0.0767-acre property is located at 40 Barber Avenue in Central Falls. Improvements include a new roof, updated heating systems and new electrical with a dedicated house panel. There is no on-site parking, and the lot’s frontage may support adding a driveway, subject to applicable approvals.
Key Highlights
- Two‑unit duplex with 1,744 square feet of building area
- Both units include two bedrooms and one bathroom
- Upper unit has additional third‑level space
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
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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
$300,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Two four-bedroom units share a 1,744-square-foot building with updated heating and electrical systems.
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: Two‑unit duplex with 1,744 square feet of building area; Both units include two bedrooms and one bathroom; Upper unit has additional third‑level space
