Three-Unit Multifamily
For Sale
$599,900
421 Broad St, Cumberland, RI 02864
Separate utilities, gas heat, and dedicated off-street parking support straightforward unit operations.
Property Size2,936 SF
Price / SF$204.33
Days on Market48
Property Features for 421 Broad St
General Information
Standard status
Active
Size
2,936 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
replace hot water tank
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1940
Listing Agency:
CENTURY 21 Gonsalves - Pastore
Listed By:
Justin Freitas
(401) 728-2770
Source:
Alpernandmesenbourg
Added: Aug 30
Changed: Oct 9
Last Checked: Oct 7 at 5:06PM
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 CENTURY 21 Gonsalves - Pastore
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1940, this multifamily property is configured as three residential units with separate utilities, gas heat, and dedicated off-street parking. The layout provides distinct living arrangements within a single income-producing asset, while individually separated utilities support unit-level management.
The seller will replace the hot water tank before closing. These established building systems and the three-unit configuration provide a clear physical profile for buyers evaluating a smaller multifamily property.
The seller will replace the hot water tank before closing. These established building systems and the three-unit configuration provide a clear physical profile for buyers evaluating a smaller multifamily property.
Key Highlights
- Three‑family multifamily configuration
- Separate utilities for the units
- Gas heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,886
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,720
$977.7K
Cap Rate 7%
$698,371
$698.4K
Cap Rate 9%
$543,178
$543.2K
Market Conditions
NOI Build-Up for 2,936 SF
Gross rent
$74.7K $25.44/SF
− Vacancy
−$4.9K −$1.65/SF
EGI
$69.8K $23.79/SF
− OpEx
−$21.0K −$7.14/SF
NOI
$48.9K $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%
$977,720
Cap Rate 7%
$698,371
Cap Rate 9%
$543,178
Alternative Uses
Best Use
Multifamily LT 5
$698.4K
$611.1K – $814.8K
NOI $48,886 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$554.3K
$485.0K – $646.6K
NOI $38,798 @ 7.0% cap · market cap 6.47%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
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
Frequently Asked Questions
What type of property is this?
Triplex - Separate utilities, gas heat, and dedicated off-street parking support straightforward unit operations.
Where is this triplex located?
The property is located at 421 Broad St Cumberland, RI.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Three‑family multifamily configuration; Separate utilities for the units; Gas heat
