Duplex Property with Renovated Rear
New
For Sale
$979,000
411 Rathbun Street, Woonsocket, RI 02895
Residential Income, Woonsocket, RI
Property Size6,000 SF
Lot Size0.18 Acres
Price / SF$163.17
Days on Market1
Property Features for 411 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 12, Bedroom 16, Bedroom 14, Bathroom 3, Bathroom 5, Bathroom 1, Bedroom 11, Bedroom 4, Bedroom 6, Bathroom 6, Bathroom 7, Bedroom 15, Bedroom 17, Bedroom 8, Bedroom 7, Bedroom 13, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 5, Bedroom 9, Bedroom 3, Bedroom 10, Bedroom 2
Parking
5
Directions
Use GPS
Standard status
Active
Size
6,000 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7074
Building Details
Year built
1910
Floors in Building
4
Number of units
4
Listing Agency:
Keller Williams Elite · Keller Williams Realty
(508) 695-4545
Added: Sep 1
Last Checked: Sep 1 at 11:06PM
MLS# 73570515
Copyright © 2026 MLS Property Information Network 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 residential property includes two buildings on a 0.18-acre lot with 6,000 square feet of total property size. The front structure is arranged as a side-by-side duplex, with each residence offering four bedrooms, one and a half bathrooms, a first-floor bedroom, three second-floor bedrooms, in-unit laundry, unfinished basement storage, and spacious living areas. The rear building has been fully renovated and includes residential units with three-bedroom layouts, full bathrooms, living and dining areas, kitchens, and abundant natural light.
Built in 1910 and zoned R4, the property also provides off-street parking. Its Woonsocket setting places the buildings near shopping, restaurants, schools, parks, and major commuter routes. Separate structures provide physical separation between the front and rear residences.
Built in 1910 and zoned R4, the property also provides off-street parking. Its Woonsocket setting places the buildings near shopping, restaurants, schools, parks, and major commuter routes. Separate structures provide physical separation between the front and rear residences.
Key Highlights
- Two residential buildings on a 0.18‑acre lot
- 6,000 square feet of total property size
- Front side‑by‑side duplex with four bedrooms and 1.5 bathrooms per unit
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
$79,287
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
8.10%
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%
$1,585,740
$1.6M
Cap Rate 7%
$1,132,671
$1.1M
Cap Rate 9%
$880,967
$881.0K
Market Conditions
NOI Build-Up for 6,000 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
$153.4K $25.56/SF
− Vacancy
−$9.2K −$1.53/SF
EGI
$144.2K $24.03/SF
− OpEx
−$64.9K −$10.81/SF
NOI
$79.3K $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 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%
$1,585,740
Cap Rate 7%
$1,132,671
Cap Rate 9%
$880,967
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
Property Profile
Current Use
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
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 buildings include spacious layouts, in-unit laundry, basement storage, and off-street parking.
Where is this duplex located?
The property is located at 411 Rathbun Street 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 residential buildings on a 0.18‑acre lot; 6,000 square feet of total property size; Front side‑by‑side duplex with four bedrooms and 1.5 bathrooms per unit
