Three-Unit Multifamily
New
For Sale
$442,460
414 Rathbun Street, Woonsocket, RI 02895
Residential Income, Woonsocket, RI
Property Size2,347 SF
Price / SF$188.52
Days on Market6
Property Features for 414 Rathbun Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 6, Bedroom 5, Bathroom 3, Basement, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4
Parking
6
Parking features
None
Interior features
Wall (Dry Wall)
Exterior features
Balcony
Basement
Full, Unfinished
Standard status
Active
Size
2,347 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3519
HOA Fee
$220 Monthly
Utilities
Heating system
Natural Gas, Space Heater, Electric (Heating), Baseboard
Cooling system
Wall Unit(s)
Building Details
Year built
1900
Number of units
3
Flooring type
Tile - Ceramic, Laminate
Building materials
Dry Wall
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 7:06PM
MLS# 1424773
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 offering combines three separately deeded condominium residences within a six-unit building. The package totals 2,347 square feet and includes six bedrooms and three full bathrooms across three two-bedroom, one-bathroom layouts. The building dates to 1900 and features balconies.
Two of the residences are currently rented, while the remaining unit is vacant and can be occupied or leased. The property is in Woonsocket, near highways, shopping, schools, and local amenities.
Two of the residences are currently rented, while the remaining unit is vacant and can be occupied or leased. The property is in Woonsocket, near highways, shopping, schools, and local amenities.
Key Highlights
- Three separately deeded condominium units offered together
- Six bedrooms and three full bathrooms across three two‑bedroom, one‑bathroom residences
- 2,347 square feet within a six‑unit building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,014
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$620,280
$620.3K
Cap Rate 7%
$443,057
$443.1K
Cap Rate 9%
$344,600
$344.6K
Market Conditions
NOI Build-Up for 2,347 SF
Gross rent
$60.0K $25.56/SF
− Vacancy
−$3.6K −$1.53/SF
EGI
$56.4K $24.03/SF
− OpEx
−$25.4K −$10.81/SF
NOI
$31.0K $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%
$620,280
Cap Rate 7%
$443,057
Cap Rate 9%
$344,600
Alternative Uses
Best Use
Apartment 5plus
$443.1K
$387.7K – $516.9K
NOI $31,014 @ 7.0% cap · market cap 7.01%
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 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two residences are leased, with a third vacant for occupancy or rental.
Where is this multifamily property located?
The property is located at 414 Rathbun Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $442,460.
What are key features of this property?
This property features: Three separately deeded condominium units offered together; Six bedrooms and three full bathrooms across three two‑bedroom, one‑bathroom residences; 2,347 square feet within a six‑unit building
