Renovated
New
For Sale
$550,000
40 Barber Avenue, Central Falls, RI 02863
Residential Income, Central Falls, RI
Property Size1,744 SF
Lot Size0.08 Acres
Price / SF$315.37
Days on Market3
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 3, Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Basement
Parking features
None
Interior features
Wall (Dry Wall), Attic Stairs, Plumbing (PVC), Insulation (Walls)
Basement
Full, Storage Space, Unfinished
Appliances
Gas Water Heater, Dishwasher, Microwave, Oven/Range, Refrigerator
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
Tile - Ceramic, Hardwood
Building materials
Dry Wall, Vinyl Siding
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
Last Checked: Sep 16 at 8:06AM
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.
Investment Insights
Based on property information with market context.
This two-unit residential property contains 1,744 square feet on a 0.0767-acre lot. Each primary floor includes two bedrooms and one bathroom, with an eat-in kitchen and separate dining room on the first level. The upper residence also includes third-level space that can serve as an additional bedroom, home office, or flex area. Interior finishes include hardwood and ceramic tile flooring, while appliances include a gas water heater, dishwasher, microwave, oven/range, and refrigerator.
Built in 1900, the home has vinyl siding, a newer roof, updated heating systems, and new electrical with a dedicated house panel. The property is zoned R2 and includes a backyard. There is no driveway or on-site parking, but the frontage may support adding a curb cut and driveway. The address is within walking distance of local shops and services in Central Falls, Rhode Island.
Built in 1900, the home has vinyl siding, a newer roof, updated heating systems, and new electrical with a dedicated house panel. The property is zoned R2 and includes a backyard. There is no driveway or on-site parking, but the frontage may support adding a curb cut and driveway. The address is within walking distance of local shops and services in Central Falls, Rhode Island.
Key Highlights
- Two‑unit property with 1,744 square feet of building area
- 0.0767‑acre lot in Central Falls, RI
- Two bedrooms and one bathroom on each primary floor
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
$29,038
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
5.28%
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%
$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
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
$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 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%
$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 5.28%
Second Best
Apartment 5plus
$329.2K
$288.1K – $384.1K
NOI $23,046 @ 7.0% cap · market cap 4.19%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature updated systems, separate living areas, and flexible upper-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 $550,000.
What are key features of this property?
This property features: Two‑unit property with 1,744 square feet of building area; 0.0767‑acre lot in Central Falls, RI; Two bedrooms and one bathroom on each primary floor
