Three-Unit Residential
For Sale
$665,000
422 East Avenue, Pawtucket, RI 02860
Three two-bedroom residences provide a consistent unit mix, with recent exterior and water-heating improvements.
Property Size2,864 SF
Price / SF$232.19
Days on Market82
Property Features for 422 East Avenue
General Information
Standard status
Active
Size
2,864 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,857
Amenities
Interior Steps
Stall Shower
Tub Shower
Deck
Building Details
Building Size
2,864 SF
Year Built
1880
Buildings
1
Stories
3
Units
3
Listing Agency:
Badger Realty
(401) 495-4756
Listed By:
Inessa Moshkina
(401) 556-4352
Source:
Caldwellrealtyri
Added: Aug 5
Changed: Oct 22
Last Checked: Oct 22 at 2:22PM
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 Badger Realty
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Investment Insights
Based on property information with market context.
Built in 1880, this Pawtucket triplex contains three two-bedroom units across 2,864 square feet. Recent work includes new siding and replacement of two hot water heaters. The property also has on-site parking and sits on an oversized lot.
The East Avenue address is described as close to shopping, dining, schools, public transportation, and major routes.
The East Avenue address is described as close to shopping, dining, schools, public transportation, and major routes.
Key Highlights
- Three units, each with two bedrooms
- 2,864 square feet of building area
- Built in 1880
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,687
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$953,740
$953.7K
Cap Rate 7%
$681,243
$681.2K
Cap Rate 9%
$529,856
$529.9K
Market Conditions
NOI Build-Up for 2,864 SF
Gross rent
$72.9K $25.44/SF
− Vacancy
−$4.7K −$1.65/SF
EGI
$68.1K $23.79/SF
− OpEx
−$20.4K −$7.14/SF
NOI
$47.7K $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%
$953,740
Cap Rate 7%
$681,243
Cap Rate 9%
$529,856
Alternative Uses
Best Use
Multifamily LT 5
$681.2K
$596.1K – $794.8K
NOI $47,687 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$540.7K
$473.1K – $630.8K
NOI $37,846 @ 7.0% cap · market cap 5.69%
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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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,154
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom residences provide a consistent unit mix, with recent exterior and water-heating improvements.
Where is this triplex located?
The property is located at 422 East Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Three units, each with two bedrooms; 2,864 square feet of building area; Built in 1880
