5-Unit Apartment
For Sale
$929,000
415 Rathbun Street, Woonsocket, RI 02895
Two separate buildings offer varied layouts, private entrances, laundry, basement storage, and off-street parking.
Property Size1,910 SF
Days on Market35
Property Features for 415 Rathbun Street
General Information
Standard status
Active
Size
1,910 SF
Property subtype
Commercial
Building Details
Building Size
1,910 SF
Year Built
1910
Listing Agency:
Keller Williams Elite
(508) 695-4545
Listed By:
Talib Hussain · License #449585701
(774) 266-1068
Source:
Iverty
Added: Sep 1
Changed: Oct 4
Last Checked: Oct 5 at 6:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Elite
Investment Insights
Based on property information with market context.
Built in 1910, this multifamily property includes two buildings on one lot with five residential units. The front structure is arranged as a side-by-side duplex, with each residence offering four bedrooms, one and a half baths, a first-floor bedroom, three second-floor bedrooms, in-unit laundry, and unfinished basement storage. The layouts also include dedicated living areas and natural light.
The rear structure contains a renovated three-family building. Each apartment has three bedrooms, one full bath, living and dining areas, a kitchen, and abundant natural light. The property also provides off-street parking and separation between the two buildings. It is located near shopping, restaurants, schools, parks, and major commuter routes in Woonsocket.
The rear structure contains a renovated three-family building. Each apartment has three bedrooms, one full bath, living and dining areas, a kitchen, and abundant natural light. The property also provides off-street parking and separation between the two buildings. It is located near shopping, restaurants, schools, parks, and major commuter routes in Woonsocket.
Key Highlights
- Two buildings on one lot with 5 residential units
- Front building configured as a side‑by‑side duplex
- Each duplex unit has 4 bedrooms and 1.5 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,802
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$636,040
$636.0K
Cap Rate 7%
$454,314
$454.3K
Cap Rate 9%
$353,356
$353.4K
Market Conditions
NOI Build-Up for 1,910 SF
Gross rent
$48.6K $25.44/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$45.4K $23.79/SF
− OpEx
−$13.6K −$7.14/SF
NOI
$31.8K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$636,040
Cap Rate 7%
$454,314
Cap Rate 9%
$353,356
Alternative Uses
Best Use
Multifamily LT 5
$454.3K
$397.5K – $530.0K
NOI $31,802 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$360.6K
$315.5K – $420.7K
NOI $25,240 @ 7.0% cap · market cap 2.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two separate buildings offer varied layouts, private entrances, laundry, basement storage, and off-street parking.
Where is this apartment building located?
The property is located at 415 Rathbun Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: Two buildings on one lot with 5 residential units; Front building configured as a side‑by‑side duplex; Each duplex unit has 4 bedrooms and 1.5 baths
