6-Unit Residential Income
New
For Sale
$840,154
414 Rathbun Street, Woonsocket, RI 02895
Commercial/Business,Commercial Sale, Woonsocket, RI
Property Size5,492 SF
Price / SF$152.98
Days on Market6
Property Features for 414 Rathbun Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
12
Lot features
Paved, Downtown, Rural
Standard status
Active
Size
5,492 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7758
HOA Fee
$220 Annually
Utilities
Heating system
Baseboard, Space Heater
Cooling system
Wall Unit(s)
Building Details
Year built
1900
Building materials
Frame
Listing Agency:
Keller Williams Realty
(508) 695-4545
Listed By:
Talib Hussain · License #449585701
(774) 266-1068
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 5 at 6:06PM
MLS# 1424722
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 residential portfolio comprises six condominium units across two adjacent frame buildings, totaling 5,492 square feet. The units include 13 bedrooms and six bathrooms, with two- and three-bedroom configurations. Five units are occupied and one two-bedroom unit is vacant. The buildings date to 1900 and have baseboard or space-heater systems, along with wall-unit cooling.
Three condominiums are located at 414 Rathbun Street and three at 420 Rathbun Street in Woonsocket. The association provides water, sewer, trash collection, master insurance, snow removal, and landscaping.
Three condominiums are located at 414 Rathbun Street and three at 420 Rathbun Street in Woonsocket. The association provides water, sewer, trash collection, master insurance, snow removal, and landscaping.
Key Highlights
- Six separately deeded condominium units across two adjacent buildings
- 5,492 square feet; 13 bedrooms and 6 bathrooms
- Unit mix includes two- and three‑bedroom layouts; five occupied and one vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,574
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,451,480
$1.5M
Cap Rate 7%
$1,036,771
$1.0M
Cap Rate 9%
$806,378
$806.4K
Market Conditions
NOI Build-Up for 5,492 SF
Gross rent
$140.4K $25.56/SF
− Vacancy
−$8.4K −$1.53/SF
EGI
$132.0K $24.03/SF
− OpEx
−$59.4K −$10.81/SF
NOI
$72.6K $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%
$1,451,480
Cap Rate 7%
$1,036,771
Cap Rate 9%
$806,378
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$907.2K – $1.21M
NOI $72,574 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.31M
$1.14M – $1.52M
NOI $91,444 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Six separately deeded condominiums are distributed across two adjacent buildings, with a mix of two- and three-bedroom layouts.
Where is this residential income property located?
The property is located at 414 Rathbun Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $840,154.
What are key features of this property?
This property features: Six separately deeded condominium units across two adjacent buildings; 5,492 square feet; 13 bedrooms and 6 bathrooms; Unit mix includes two- and three‑bedroom layouts; five occupied and one vacant
