Five-Unit Multifamily
New
For Sale
$979,000
409-415 Rathbun, Woonsocket, RI 02895
Two-building property with spacious layouts, off-street parking, separate entrances, and a renovated three-family building.
Property Size6,000 SF
Price / SF$163.17
Days on Market6
Property Features for 409-415 Rathbun
General Information
Standard status
Active
Size
6,000 SF
Property subtype
4 Family
Units
Unit Mix
2 x 4BR/1.5BA, 3 x 3BR/1BA
Multifamily Units
5
Amenities
in-unit laundry
unfinished basement storage
off-street parking
Building Details
Building Size
6,000 SF
Year Built
1910
Buildings
2
Listing Agency:
IVerty Realty, LLC
(413) 786-0584
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Jul 28
Changed: Jul 31
Last Checked: Aug 1 at 4:55AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This 6,000-square-foot multifamily property includes two buildings on one lot with five residential units. Built in 1910, the front building is a side-by-side duplex with two four-bedroom, 1.5-bath units. Each includes one first-floor bedroom, three second-floor bedrooms, in-unit laundry, unfinished basement storage, and spacious living areas. The rear building is a fully renovated three-family property, with each unit offering three bedrooms, one full bath, living and dining areas, a functional kitchen, and abundant natural light.
The property includes ample off-street parking and separate buildings that provide additional privacy. The front duplex is currently occupied, while the rear three-family building is vacant and ready for occupancy or lease-up. Located in Woonsocket near shopping, restaurants, schools, parks, and major commuter routes, the property offers a five-unit residential configuration with varied unit layouts.
The property includes ample off-street parking and separate buildings that provide additional privacy. The front duplex is currently occupied, while the rear three-family building is vacant and ready for occupancy or lease-up. Located in Woonsocket near shopping, restaurants, schools, parks, and major commuter routes, the property offers a five-unit residential configuration with varied unit layouts.
Key Highlights
- Two buildings on one lot with a total of 5 residential units
- 6,000 square feet across a five‑unit multifamily property
- Front side‑by‑side duplex with two 4‑bedroom, 1.5‑bath units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $153.4k | $25.56 |
| − Vacancy | −$9.2k | −$1.53 |
| EGI | $144.2k | $24.03 |
| − OpEx | −$64.9k | −$10.81 |
| NOI | $79.3k | $13.21 |
6,000 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.67M
NOI $99,903 @ 7.0% cap · market cap 10.20%
Second Best
Apartment 5plus
$1.13M
$991.1K – $1.32M
NOI $79,287 @ 7.0% cap · market cap 8.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 02895, RI
43,269
Population
19,443
Households
2.2
Avg Household Size
38
Median Age
19%
College-Educated
82%
High-School Grad
7.8 sq mi
ZIP Area
5,547
Density / Sq Mi
$58,579
Median Household Income
$40,929
Median Earnings
$1,116
Median Rent
$267,900
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?
Multifamily property - Two-building property with spacious layouts, off-street parking, separate entrances, and a renovated three-family building.
Where is this multifamily property located?
The property is located at 409-415 Rathbun Woonsocket, RI.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Two buildings on one lot with a total of 5 residential units; 6,000 square feet across a five‑unit multifamily property; Front side‑by‑side duplex with two 4‑bedroom, 1.5‑bath units
