3-Unit Residential Income
New
For Sale
$452,700
420 Rathbun Street, Woonsocket, RI 02895
Residential Income, Woonsocket, RI
Property Size3,145 SF
Price / SF$143.94
Days on Market7
Property Features for 420 Rathbun Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 6, Bedroom 7, Basement, Bedroom 5, Bathroom 1, Bedroom 1
Parking
6
Parking features
None
Interior features
Wall (Dry Wall), Plumbing (Mixed)
Exterior features
Balcony
Basement
Full, Unfinished
Standard status
Active
Size
3,145 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4239
HOA Fee
$220 Monthly
Utilities
Heating system
Forced Air, Electric (Heating), Baseboard, Natural Gas
Cooling system
Wall Unit(s)
Building Details
Year built
1900
Number of units
3
Flooring type
Laminate, Tile - Ceramic
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 6 at 3:06AM
MLS# 1424795
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 residential income property comprises three separately deeded condominium units within a professionally managed five-unit building. The units total 3,145 square feet and offer seven bedrooms and four bathrooms, with a mix of two two-bedroom units and one three-bedroom unit. Interior finishes include laminate and ceramic tile flooring, and one exterior feature is a balcony.
Key Highlights
- Three separately deeded condominium units in a five‑unit building
- Three units total 3,145 square feet, with 7 bedrooms and 4 bathrooms
- Unit mix includes two 2‑bedroom residences and one 3‑bedroom residence
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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Frequently Asked Questions
What type of property is this?
Residential income property - The three condominiums are separately deeded and located in a professionally managed five-unit building.
Where is this residential income 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: Three separately deeded condominium units in a five‑unit building; Three units total 3,145 square feet, with 7 bedrooms and 4 bathrooms; Unit mix includes two 2‑bedroom residences and one 3‑bedroom residence
