414 Rathbun Street, Woonsocket, RI 02895
- Added:
- Jun 24, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 25 at 8:06 pm
Property Features for 414 Rathbun Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Rooms
- Basement
- Parking
- 10
- Basement
- Full
- Standard status
- Active
- Size
- 5,492 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7758
Utilities
- Heating system
- Baseboard, Space Heater
- Cooling system
- Wall Unit(s)
Building Details
- Year built
- 1900
- Building materials
- Frame
Listing agent Talib Hussain License #449585701 (508) 695-4545
Listing office Keller Williams Realty 25 Messenger Street, Plainville, RI (508) 695-4545
Listing date Jun 24, 2026
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.
HighLights
- Seven income‑producing condominium units across two adjacent buildings on Rathbun Street: 414 and 420 Rathbun St.
- Total of approximately 5,492 sq ft living area across seven separately deeded units (14 bedrooms, 7 bathrooms).
- Current rental income of $10,325 per month: six units occupied and one vacant 2‑bedroom unit.
- Unit mix includes 1-, 2-, and 3‑bedroom condominiums.
- Monthly HOA fees are $180 per unit and include water, sewer, snow removal, refuse removal, and extra storage.
- Built in 1900 with frame construction; heating includes baseboard and space heater, and cooling includes wall units.
Overview
The condominiums are located in two adjacent buildings on Rathbun Street, with three units at 414 Rathbun Street and four units at 420 Rathbun Street. The portfolio is currently generating $10,325 per month in rental income.
For investors or operators seeking a multi-unit acquisition through a single purchase, this package provides a diversified unit mix within the same ownership structure. Each unit has a monthly HOA fee of $180, which includes water, sewer, snow removal, refuse removal, and extra storage, helping reduce day-to-day owner responsibilities. The presence of one vacant unit may also allow for immediate leasing activity upon turnover.
Local 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 | $140.4k | $25.56 |
| − Vacancy | −$8.4k | −$1.53 |
| EGI | $132.0k | $24.03 |
| − OpEx | −$59.4k | −$10.81 |
| NOI | $72.6k | $13.21 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Woonsocket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.502942
- Latitude
- 42.014444
