Multifamily Condominium
New
For Sale
$452,700
420 Rathbun Street, Woonsocket, RI 02895
Condominium units in a managed building include water, sewer, trash service, insurance, snow removal, and landscaping through the HOA.
Property Size3,145 SF
Price / SF$143.94
Days on Market6
Property Features for 420 Rathbun Street
General Information
Standard status
Active
Size
3,145 SF
Property subtype
MultiFamily
Units
Unit Mix
2 x 2BR, 1 x 3BR
Multifamily Units
3
Additional Details
Gross Income
$55,200
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty
(508) 695-4545
Listed By:
Talib Hussain · License #RES.0043821
(774) 266-1068
Source:
Lockandkeyre
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 4 at 10:02AM
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 Realty
Investment Insights
Based on property information with market context.
This multifamily offering comprises income-producing condominium units in a professionally managed building constructed in 1900. The HOA covers water, sewer, trash collection, master insurance, snow removal, and landscaping, providing a defined set of shared building services.
Located in Woonsocket, Rhode Island, the property is offered for sale as a package of rental units.
Located in Woonsocket, Rhode Island, the property is offered for sale as a package of rental units.
Key Highlights
- Condominium units are located in a professionally managed building
- Building constructed in 1900
- HOA covers water, sewer, trash collection, master insurance, snow removal, and landscaping
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,560
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$831,200
$831.2K
Cap Rate 7%
$593,714
$593.7K
Cap Rate 9%
$461,778
$461.8K
Market Conditions
NOI Build-Up for 3,145 SF
Gross rent
$80.4K $25.56/SF
− Vacancy
−$4.8K −$1.53/SF
EGI
$75.6K $24.03/SF
− OpEx
−$34.0K −$10.81/SF
NOI
$41.6K $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%
$831,200
Cap Rate 7%
$593,714
Cap Rate 9%
$461,778
Alternative Uses
Best Use
Apartment 5plus
$593.7K
$519.5K – $692.7K
NOI $41,560 @ 7.0% cap · market cap 9.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$748.1K
$654.6K – $872.8K
NOI $52,366 @ 7.0% cap · market cap 11.57%
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
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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 - Condominium units in a managed building include water, sewer, trash service, insurance, snow removal, and landscaping through the HOA.
Where is this multifamily property located?
The property is located at 420 Rathbun Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $452,700.
What are key features of this property?
This property features: Condominium units are located in a professionally managed building; Building constructed in 1900; HOA covers water, sewer, trash collection, master insurance, snow removal, and landscaping
