8-Bedroom Multifamily
414 Providence Street, Woonsocket, RI 02895
For Sale
$560,000
A remodeled first-floor unit and recent building-system updates complement the property’s spacious residential layout.
Property Size3,234 SF
Price / SF$173.16
Days on Market48
Property Features for 414 Providence Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Amenities
Attic
Tub Shower
Porch
Paved Driveway
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Flagship Real Estate Advisors
(401) 789-2255
Listed By:
David Dunne · License RI #134890
(401) 473-5299
Source:
Caldwellrealtyri
Added: Sep 24
Changed: Nov 7
Last Checked: Nov 9 at 8:21PM
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 Flagship Real Estate Advisors
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Investment Insights
Based on property information with market context.
This 3,234-square-foot multifamily property contains an 8-bedroom layout. The first-floor unit has a remodeled kitchen and bathroom, while other recent improvements include updated electrical service, two new heating systems, a newer roof, and vinyl siding. Built in 1926, the property also has a detached one-car garage, off-street parking, and a private backyard. Zoning is R3.
Located at 414 Providence Street in Woonsocket, the property is described as near shopping, dining, schools, local amenities, and major roadways.
Located at 414 Providence Street in Woonsocket, the property is described as near shopping, dining, schools, local amenities, and major roadways.
Key Highlights
- 8‑bedroom layout
- 3,234 square feet
- Remodeled first‑floor unit with updated kitchen and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,736
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,720
$854.7K
Cap Rate 7%
$610,514
$610.5K
Cap Rate 9%
$474,844
$474.8K
Market Conditions
NOI Build-Up for 3,234 SF
Gross rent
$82.7K $25.56/SF
− Vacancy
−$5.0K −$1.53/SF
EGI
$77.7K $24.03/SF
− OpEx
−$35.0K −$10.81/SF
NOI
$42.7K $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%
$854,720
Cap Rate 7%
$610,514
Cap Rate 9%
$474,844
Alternative Uses
Best Use
Apartment 5plus
$610.5K
$534.2K – $712.3K
NOI $42,736 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$769.3K
$673.1K – $897.5K
NOI $53,848 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
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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
$267,900
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Woonsocket, RI
Properties on Market for Multifamily properties in Woonsocket
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - A remodeled first-floor unit and recent building-system updates complement the property’s spacious residential layout.
Where is this multifamily property located?
The property is located at 414 Providence Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: 8‑bedroom layout; 3,234 square feet; Remodeled first‑floor unit with updated kitchen and bathroom
