Three-Unit Condo Income
414 Rathbun Street Woonsocket, RI 02895
414 Rathbun Street, Woonsocket, RI, 02895
$422,460
For Sale
$422,460
MULTI_FAMILY - Woonsocket, RI
Property Size2,347 SF
Price / SF$180
Days on Market23
Property Features for 414 Rathbun Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 4, Bathroom 2, Basement, Bedroom 2
- Parking
- 6
- Parking features
- None
- Interior features
- Wall (Dry Wall)
- Exterior features
- Balcony
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 2,347 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3519
Utilities
- Heating system
- Baseboard, Space Heater, Electric (Heating), Forced Air, Natural Gas
- Cooling system
- Wall Unit(s)
Building Details
- Year built
- 1900
- Number of units
- 3
- Flooring type
- Laminate, Tile - Ceramic
- Building materials
- Dry Wall
Listing Agency
Keller Williams Realty
(508) 695-4545
25 Messenger Street, Plainville, RI
Listed by
Talib Hussain · License #449585701
(508) 695-4545
Added: Jun 24 Checked: Jul 16 at 11:06 pm
MLS# 1416184
Listing URL
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 for-sale investor package includes three separately deeded condominium units sold together within a well-maintained 6-unit building. The package totals 6 bedrooms and 3 full bathrooms, with approximately 2,347 square feet across three 2-bedroom, 1-bath units. Two units are currently rented, while one unit is vacant, offering flexibility for an owner-occupant or future occupancy.
The property is located at 414 Rathbun Street in Woonsocket, Rhode Island, near highways, shopping, schools, and local amenities. The monthly HOA fee is $180 per unit and includes water, sewer, snow removal, refuse removal, and extra storage.
All units are 2-bedroom, 1-bath condominiums within the same building, and the sale structure provides multiple income-producing units in a single transaction.
The property is located at 414 Rathbun Street in Woonsocket, Rhode Island, near highways, shopping, schools, and local amenities. The monthly HOA fee is $180 per unit and includes water, sewer, snow removal, refuse removal, and extra storage.
All units are 2-bedroom, 1-bath condominiums within the same building, and the sale structure provides multiple income-producing units in a single transaction.
Key Highlights
- Investor package: three separately deeded condo units sold together within a well‑maintained 6‑unit building
- Total approx. 2,347 sq. ft. across three 2‑bed/1‑bath units with 6 bedrooms and 3 full bathrooms
- Two units currently rented for immediate income; one vacant unit offers owner‑occupant flexibility
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
Multifamily LT 5
$558.3K
$488.5K – $651.3K
NOI $39,079 @ 7.0% cap · market cap 9.25%
Second Best
Apartment 5plus
$443.1K
$387.7K – $516.9K
NOI $31,014 @ 7.0% cap · market cap 7.34%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three separately deeded condo units in a well-maintained 6-unit building, with two currently rented and one vacant.
Where is this triplex located?
The property is located at 414 Rathbun Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $422,460.
What are key features of this property?
This property features: Investor package: three separately deeded condo units sold together within a well‑maintained 6‑unit building; Total approx. 2,347 sq. ft. across three 2‑bed/1‑bath units with 6 bedrooms and 3 full bathrooms; Two units currently rented for immediate income; one vacant unit offers owner‑occupant flexibility
