Multi-Family Condominium
414 Rathbun St, Woonsocket, RI 02895
New
- Added:
- Jun 24, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 27 at 3:06 pm
Property Features for 414 Rathbun St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 2
- Parking
- 6
- Standard status
- Active
- APN
- M:21I L:196 U:35,645225
- Size
- 2,347 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1079
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 3
Listing office Keller Williams Elite 25 Messenger Street, 2nd Floor, Plainville, RI (508) 695-4545
Listing date Jun 24, 2026
MLS# 73541377
Listing URL
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.
Overview
This offering presents an investor package consisting of three separately deeded condominium units sold together within a 6-unit building. The package totals approximately 2,347 square feet across three 2-bedroom, 1-bath condominium units, for an aggregate of 6 bedrooms and 3 full bathrooms. Two of the units are currently rented, while one unit is vacant, providing options for an owner-occupant or for re-leasing as needed.
The monthly HOA fee is $180 per unit and includes water, sewer, snow removal, refuse removal, and extra storage. The property is located near highways and close to shopping, schools, and local amenities, supporting convenient day-to-day access for tenants.
For buyers seeking a bundled acquisition, this configuration allows ownership of multiple income-producing units in a single transaction. The presence of in-place rental tenants in two units may support continuity of cash flow, while the vacant unit offers flexibility for an operator to move in or pursue updated occupancy terms. The HOA’s included services can also simplify ongoing operating considerations for residents.
The monthly HOA fee is $180 per unit and includes water, sewer, snow removal, refuse removal, and extra storage. The property is located near highways and close to shopping, schools, and local amenities, supporting convenient day-to-day access for tenants.
For buyers seeking a bundled acquisition, this configuration allows ownership of multiple income-producing units in a single transaction. The presence of in-place rental tenants in two units may support continuity of cash flow, while the vacant unit offers flexibility for an operator to move in or pursue updated occupancy terms. The HOA’s included services can also simplify ongoing operating considerations for residents.
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 | $60.0k | $25.56 |
| − Vacancy | −$3.6k | −$1.53 |
| EGI | $56.4k | $24.03 |
| − OpEx | −$25.4k | −$10.81 |
| NOI | $31.0k | $13.21 |
2,347 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$443.1K
$387.7K – $516.9K
NOI $31,014 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$558.3K
$488.5K – $651.3K
NOI $39,079 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
Location Insight
- Map
- Local Demand
- City
- Woonsocket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.502955
- Latitude
- 42.014436
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Three separately deeded condominium units in a 6-unit building, with two rentals and one vacant unit.
Where is this multifamily property located?
The property is located at 414 Rathbun St Woonsocket, RI.
What is the asking price?
The asking price for this property is $422,460.
