Condominium Income
420 Rathbun St, Woonsocket, RI 02895
New
- Added:
- Jun 24, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 27 at 2:06 pm
Property Features for 420 Rathbun St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 5, Bedroom 8, Bedroom 2, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 7, Bathroom 4, Bedroom 1
- Parking
- 8
- Standard status
- Active
- APN
- M:21I L:196 U:28,645230
- Size
- 3,145 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4239
Building Details
- Year built
- 1900
- Floors in Building
- 4
- Number of units
- 4
Listing office Keller Williams Elite 25 Messenger Street, 2nd Floor, Plainville, RI (508) 695-4545
Listing date Jun 24, 2026
MLS# 73541388
Listing URL
Copyright © 2026 MLS Property Information Network 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 four income‑producing condo units within a professionally managed 6‑unit building
- Total of 8 bedrooms and 4 bathrooms across approximately 3,145 SF in four separately deeded units
- Unit mix: one 1‑bedroom unit, two 2‑bedroom units, and one 3‑bedroom unit
- Current rental income is $5,900 per month
- HOA is $180 per unit per month and includes water, sewer, snow removal, refuse removal, and extra storage
Overview
This offering provides four separately deeded condominium units located within a professionally managed 6-unit building. The package totals approximately 3,145 square feet across four units with a combined mix of one 1-bedroom, two 2-bedroom, and one 3-bedroom layout, for 8 bedrooms and 4 bathrooms overall. The units are currently occupied and generating $5,900 per month in rental income.
The property is located at 420 Rathbun St in Woonsocket, Rhode Island (Providence County). Buyers are acquiring multiple income units in a single transaction, with the remainder of the building comprised of two additional condominium units under the same overall structure.
HOA fees are $180 per unit per month and include water, sewer, snow removal, refuse removal, and extra storage, which can reduce certain day-to-day ownership responsibilities. For buyers and operators seeking an income-focused residential portfolio with multiple separately deeded units, this structure offers a straightforward unit mix and a cohesive HOA support framework within one managed building.
The property is located at 420 Rathbun St in Woonsocket, Rhode Island (Providence County). Buyers are acquiring multiple income units in a single transaction, with the remainder of the building comprised of two additional condominium units under the same overall structure.
HOA fees are $180 per unit per month and include water, sewer, snow removal, refuse removal, and extra storage, which can reduce certain day-to-day ownership responsibilities. For buyers and operators seeking an income-focused residential portfolio with multiple separately deeded units, this structure offers a straightforward unit mix and a cohesive HOA support framework within one managed building.
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
- -71.502905
- Latitude
- 42.014547
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Four separately deeded income condominium units in a professionally managed 6-unit building with HOA-paid utilities and services.
Where is this multifamily property located?
The property is located at 420 Rathbun St 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 four income‑producing condo units within a professionally managed 6‑unit building; Total of 8 bedrooms and 4 bathrooms across approximately 3,145 SF in four separately deeded units; Unit mix: one 1‑bedroom unit, two 2‑bedroom units, and one 3‑bedroom unit
