Three-Unit Multifamily
New
For Sale
$599,900
421 Broad Street, Cumberland, RI 02864
Residential Income, Cumberland, RI
Property Size2,936 SF
Lot Size0.10 Acres
Price / SF$204.33
Days on Market2
Property Features for 421 Broad Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 2, Bathroom 1, Basement, Bedroom 1, Bathroom 2
Parking
4
Parking features
None
Interior features
Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Walls)
Basement
Partially Finished, Storage Space, Full
Appliances
Dishwasher, Oven/Range, Refrigerator
Subdivision
Valley Falls
Standard status
Active
Size
2,936 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4649
Utilities
Heating system
Baseboard, Natural Gas
Cooling system
Window Unit(s)
Building Details
Year built
1940
Floors in Building
3
Number of units
3
Flooring type
Tile - Ceramic, Carpet
Building materials
Plaster, Vinyl Siding
Listing Agency:
Century 21 Gonsalves - Pastore · Coldwell Banker Real Estate
(401) 728-2770
Listed By:
Justin Freitas
(401) 288-7659
Added: Aug 25
Last Checked: Aug 26 at 6:06AM
MLS# 1421510
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.
Located at 421 Broad Street in Cumberland, this three-family residential property contains 2,936 square feet on a 0.1002-acre lot. Built in 1940, the building includes separate utilities, natural-gas baseboard heat, window-unit cooling, plaster interiors, vinyl siding, ceramic tile, and carpet. The property also includes a dishwasher, oven/range, and refrigerator. A basement and three bathrooms are among the listed spaces, with bedrooms identified across the building.
The property is positioned near local shopping, dining, public transit, and Cumberland schools. The seller is expected to replace the hot water tank before closing.
The property is positioned near local shopping, dining, public transit, and Cumberland schools. The seller is expected to replace the hot water tank before closing.
Key Highlights
- Three‑family property with 2,936 square feet of building area
- Situated on a 0.1002‑acre lot in Cumberland, RI
- Separate utilities for the residential units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,886
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family residential building with separate utilities, natural-gas heat, and access to shopping, dining, transit, and Cumberland schools.
Where is this triplex located?
The property is located at 421 Broad Street 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 property with 2,936 square feet of building area; Situated on a 0.1002‑acre lot in Cumberland, RI; Separate utilities for the residential units
