Five-Unit Residential
New
For Sale
$929,000
409 Rathbun St, Woonsocket, RI 02895
Two separate buildings offer a mix of duplex and three-family layouts, with off-street parking.
Property Size5,938 SF
Price / SF$156.45
Days on Market5
Property Features for 409 Rathbun St
General Information
Standard status
Active
Size
5,938 SF
Property subtype
Multi-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
Year Built
1910
Buildings
2
Listing Agency:
Keller Williams Realty
Listed By:
Talib Hussain · License #449585701
(508) 695-4545
Source:
Alpernandmesenbourg
Added: Oct 7
Last Checked: Oct 7 at 2:25PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
At 409 Rathbun St, the property includes two residential buildings with five units on one lot. The front structure is a side-by-side duplex; each apartment has four bedrooms, 1.5 baths, in-unit laundry, and unfinished basement storage. One bedroom is on the first floor, with three additional bedrooms upstairs in each unit. Both apartments are rented. The rear building is a renovated three-family, with each unit offering three bedrooms, one full bath, living and dining areas, and a kitchen. The three rear apartments are vacant. The property contains 5,938 square feet and was built in 1910.
Off-street parking serves the property. Its Woonsocket address places it near shopping, restaurants, schools, parks, and major commuter routes.
Off-street parking serves the property. Its Woonsocket address places it near shopping, restaurants, schools, parks, and major commuter routes.
Key Highlights
- Five residential units across two buildings on one lot
- Side‑by‑side duplex units each have 4 bedrooms, 1.5 baths and in‑unit laundry
- Renovated rear three‑family building; each apartment has 3 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,468
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,569,360
$1.6M
Cap Rate 7%
$1,120,971
$1.1M
Cap Rate 9%
$871,867
$871.9K
Market Conditions
NOI Build-Up for 5,938 SF
Gross rent
$151.8K $25.56/SF
− Vacancy
−$9.1K −$1.53/SF
EGI
$142.7K $24.03/SF
− OpEx
−$64.2K −$10.81/SF
NOI
$78.5K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,569,360
Cap Rate 7%
$1,120,971
Cap Rate 9%
$871,867
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$980.9K – $1.31M
NOI $78,468 @ 7.0% cap · market cap 8.45%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.41M
$1.24M – $1.65M
NOI $98,871 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,099
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate buildings offer a mix of duplex and three-family layouts, with off-street parking.
Where is this multifamily property located?
The property is located at 409 Rathbun St Woonsocket, RI.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: Five residential units across two buildings on one lot; Side‑by‑side duplex units each have 4 bedrooms, 1.5 baths and in‑unit laundry; Renovated rear three‑family building; each apartment has 3 bedrooms and 1 full bath
