Condominium Income Unit
420 Rathbun Street, Woonsocket, RI 02895
New
- Added:
- Jun 24, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 25 at 8:06 pm
Property Features for 420 Rathbun Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 7, Bedroom 6, Bedroom 8, Bathroom 1, Bathroom 3, Basement, Bathroom 2, Bedroom 2, Bathroom 4, Bedroom 4
- Parking
- 8
- Parking features
- Garage
- Interior features
- Wall (Dry Wall), Plumbing (Mixed)
- Exterior features
- Balcony
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 3,145 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4239
Utilities
- Heating system
- Space Heater, Forced Air, Natural Gas, Electric (Heating), Baseboard
- Cooling system
- Wall Unit(s)
Building Details
- Year built
- 1900
- Number of units
- 4
- Flooring type
- Tile - Ceramic, Laminate
- Building materials
- Dry Wall
Listing agent Talib Hussain License #449585701 (508) 695-4545
Listing office Keller Williams Realty 25 Messenger Street, Plainville, RI (508) 695-4545
Listing date Jun 24, 2026
MLS# 1416193
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.
HighLights
- Package includes 4 income‑producing condominium units within a professionally managed 6‑unit building
- Total of 8 bedrooms and 4 bathrooms across four separately deeded units, with approximately 3,145 SF total
- Current rental income is $5,900 per month with a unit mix of one 1‑bedroom, two 2‑bedroom, and one 3‑bedroom unit
- Monthly HOA is $180 per unit and includes water, sewer, snow removal, refuse removal, and extra storage
- Garage parking available; exterior includes a balcony
- Year built 1900; interiors feature ceramic tile and laminate flooring, with wall‑unit cooling and natural gas/electric heating
Overview
This offering comprises four separately deeded condominium units within a professionally managed six-unit building. The combined package totals approximately 3,145 square feet and includes eight bedrooms and four bathrooms distributed across a one-bedroom unit, two two-bedroom units, and one three-bedroom unit. The units are positioned as a single portfolio for ownership, with rental operations already in place.
The property is located at 420 Rathbun Street in Woonsocket, Rhode Island. The building’s condominium association charges monthly HOA fees of $180 per unit, and those dues include water, sewer, snow removal, refuse removal, and extra storage. These items help simplify ownership responsibilities tied to common services and ongoing building-related expenses.
For buyers seeking multiple income-producing units in one transaction, this portfolio provides a consolidated way to acquire a small set of condo homes while retaining unit-by-unit deeded ownership. The property is currently generating $5,900 per month in rental income, offering an established baseline for continued rental management. The mix of unit sizes may appeal to tenants with different space needs, from one-bedroom households through three-bedroom demand.
The property is located at 420 Rathbun Street in Woonsocket, Rhode Island. The building’s condominium association charges monthly HOA fees of $180 per unit, and those dues include water, sewer, snow removal, refuse removal, and extra storage. These items help simplify ownership responsibilities tied to common services and ongoing building-related expenses.
For buyers seeking multiple income-producing units in one transaction, this portfolio provides a consolidated way to acquire a small set of condo homes while retaining unit-by-unit deeded ownership. The property is currently generating $5,900 per month in rental income, offering an established baseline for continued rental management. The mix of unit sizes may appeal to tenants with different space needs, from one-bedroom households through three-bedroom demand.
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 | $80.4k | $25.56 |
| − Vacancy | −$4.8k | −$1.53 |
| EGI | $75.6k | $24.03 |
| − OpEx | −$34.0k | −$10.81 |
| NOI | $41.6k | $13.21 |
3,145 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$593.7K
$519.5K – $692.7K
NOI $41,560 @ 7.0% cap · market cap 7.34%
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 9.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
Location Insight
- Map
- Local Demand
- City
- Woonsocket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.503081
- Latitude
- 42.014531
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Four separately deeded condo units in a professionally managed six-unit building, currently producing monthly rental income.
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 $566,100.
What are key features of this property?
This property features: Package includes 4 income‑producing condominium units within a professionally managed 6‑unit building; Total of 8 bedrooms and 4 bathrooms across four separately deeded units, with approximately 3,145 SF total; Current rental income is $5,900 per month with a unit mix of one 1‑bedroom, two 2‑bedroom, and one 3‑bedroom unit
