Two-Building Multifamily
For Sale
$929,000
409 Rathbun Street, Woonsocket, RI 02895
Residential Income, Woonsocket, RI
Property Size5,938 SF
Lot Size0.18 Acres
Price / SF$156.45
Days on Market48
Property Features for 409 Rathbun Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
17
Bathrooms
6
Full bathrooms
5
Half bathrooms
2
Rooms
Bedroom 8, Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 11, Bedroom 16, Bedroom 13, Bathroom 6, Bathroom 3, Bedroom 4, Bedroom 15, Bedroom 2, Bathroom 2, Bedroom 6, Bedroom 9, Bedroom 5, Bedroom 10, Bedroom 17, Bedroom 12, Bedroom 1, Bathroom 5, Bathroom 7, Bedroom 14, Basement, Bedroom 7
Parking
5
Parking features
None
Basement
Full, Unfinished
Appliances
Gas Water Heater
Standard status
Active
Size
5,938 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7074
Utilities
Heating system
Natural Gas, Baseboard
Amenities
in-unit laundry
Building Details
Year built
1910
Number of units
4
Flooring type
Tile - Ceramic, Hardwood, Laminate
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Realty
(508) 695-4545
Listed By:
Talib Hussain · License #449585701
(774) 266-1068
Added: Aug 25
Changed: Sep 27
Last Checked: Oct 11 at 12:06AM
MLS# 1421531
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 R4-zoned multifamily property includes two residential buildings totaling 5 units on a 0.18-acre lot. The 5,938-square-foot offering dates to 1910 and features vinyl siding, hardwood, laminate, and ceramic tile flooring, along with natural-gas baseboard heat and a gas water heater.
The front structure contains a side-by-side duplex with 4 bedrooms and 1.5 baths per unit. Each residence includes a first-floor bedroom, three second-floor bedrooms, in-unit laundry, unfinished basement storage, and living areas with natural light. The rear building is a renovated 3-family property with 3 bedrooms, 1 full bath, living and dining areas, and kitchens in each unit. The property is located in Woonsocket, Rhode Island, near shopping, restaurants, schools, parks, and major commuter routes.
The front structure contains a side-by-side duplex with 4 bedrooms and 1.5 baths per unit. Each residence includes a first-floor bedroom, three second-floor bedrooms, in-unit laundry, unfinished basement storage, and living areas with natural light. The rear building is a renovated 3-family property with 3 bedrooms, 1 full bath, living and dining areas, and kitchens in each unit. The property is located in Woonsocket, Rhode Island, near shopping, restaurants, schools, parks, and major commuter routes.
Key Highlights
- Two buildings with 5 residential units on a 0.18‑acre lot
- 5,938 SF multifamily property built in 1910
- Front building configured as a side‑by‑side duplex
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
Multifamily LT 5
$1.41M
$1.24M – $1.65M
NOI $98,871 @ 7.0% cap · market cap 10.64%
Second Best
Apartment 5plus
$1.12M
$980.9K – $1.31M
NOI $78,468 @ 7.0% cap · market cap 8.45%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - R4-zoned property combines varied residential layouts with separate structures and natural light.
Where is this multifamily property located?
The property is located at 409 Rathbun Street 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: Two buildings with 5 residential units on a 0.18‑acre lot; 5,938 SF multifamily property built in 1910; Front building configured as a side‑by‑side duplex
