Four-Unit Multifamily
For Sale
$850,000
400 Thames Street, Bristol, RI 02809
Residential Income, Bristol, RI
Property Size3,748 SF
Lot Size0.12 Acres
Price / SF$226.79
Days on Market92
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Property Features for 400 Thames Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
W
Bedrooms
9
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 6, Bathroom 5, Basement, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 5, Bedroom 8, Bedroom 9, Bedroom 7, Bathroom 3
Parking features
None
Interior features
Wall (Paneled), Plumbing (Mixed), Insulation (Unknown)
Basement
Full, Partially Finished
Lot features
Sidewalks
View
Water
Standard status
Active
Size
3,748 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9079
Utilities
Heating system
Baseboard, Natural Gas
Building Details
Year built
1890
Floors in Building
2
Number of units
4
Flooring type
Hardwood, Laminate, Carpet, Tile - Ceramic
Building materials
Paneled, Wood
Listing Agency:
Keller Williams Coastal · Keller Williams Realty
(401) 845-9200
Listed By:
The Chris Woodard Team
(401) 640-3481
Added: Jul 16
Changed: Oct 12
Last Checked: Oct 15 at 3:06PM
MLS# 1417378
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 multifamily property includes two separate houses on one lot, with two rental units in each building. The combined property contains 3,748 square feet on a 0.121-acre parcel and dates to 1890. Interior finishes include hardwood, ceramic tile, carpet, laminate, paneled walls, mixed plumbing, and natural-gas baseboard heat. The property has no designated parking.
Located at 400 and 406 Thames Street in Bristol, the buildings are across from waterfront views and Independence Park. Historic downtown shopping, seaside cafés, and coastal restaurants are within walking distance, while the East Bay Bike Path is accessible along Thames Street. Roger Williams University is also identified as a nearby source of rental demand. W zoning applies to the property.
Located at 400 and 406 Thames Street in Bristol, the buildings are across from waterfront views and Independence Park. Historic downtown shopping, seaside cafés, and coastal restaurants are within walking distance, while the East Bay Bike Path is accessible along Thames Street. Roger Williams University is also identified as a nearby source of rental demand. W zoning applies to the property.
Key Highlights
- Two separate multifamily houses on one lot
- Four rental units across the two buildings
- 3,748 square feet on a 0.121‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,289
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,265,780
$1.3M
Cap Rate 7%
$904,129
$904.1K
Cap Rate 9%
$703,211
$703.2K
Market Conditions
NOI Build-Up for 3,748 SF
Gross rent
$96.7K $25.80/SF
− Vacancy
−$6.3K −$1.68/SF
EGI
$90.4K $24.12/SF
− OpEx
−$27.1K −$7.24/SF
NOI
$63.3K $16.89/SF
Area
Bristol County, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,265,780
Cap Rate 7%
$904,129
Cap Rate 9%
$703,211
Alternative Uses
Best Use
Multifamily LT 5
$904.1K
$791.1K – $1.05M
NOI $63,289 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$812.1K
$710.6K – $947.5K
NOI $56,848 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,774 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 02809, RI
22,493
Population
9,670
Households
2.3
Avg Household Size
44
Median Age
46%
College-Educated
92%
High-School Grad
9.8 sq mi
ZIP Area
2,295
Density / Sq Mi
$96,005
Median Household Income
$41,266
Median Earnings
$1,352
Median Rent
$447,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two multifamily houses occupy one lot in Bristol’s downtown district near the waterfront and East Bay Bike Path.
Where is this multifamily property located?
The property is located at 400 Thames Street Bristol, RI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two separate multifamily houses on one lot; Four rental units across the two buildings; 3,748 square feet on a 0.121‑acre parcel
