Duplex with Three-Car
New
For Sale
$505,000
43 Summit Street, Woonsocket, RI 02895
Two two-bedroom apartments are complemented by refreshed finishes and additional off-street parking.
Property Size1,909 SF
Lot Size0.23 Acres
Price / SF$264.54
Days on Market2
Property Features for 43 Summit Street
General Information
Standard status
Active
Size
1,909 SF
Lot size
0.23 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1909
Buildings
1
Listing Agency:
Prime Time Properties, Inc.
Listed By:
Antoanet Sialer · License #37788
(401) 265-0521
Source:
Onshorerealtors
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 14 at 7:31PM
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 Prime Time Properties, Inc.
Investment Insights
Based on property information with market context.
Built in 1909, this duplex contains two apartments, each with two bedrooms. Improvements include new siding, windows and roofing, plus fresh interior paint. A three-car garage and off-street parking provide on-site vehicle accommodation. Lead certificates are available for both apartments.
The property sits on a 10,104-square-foot lot in Woonsocket’s Globe District, with access to major highways, shopping and the Massachusetts state line.
The property sits on a 10,104-square-foot lot in Woonsocket’s Globe District, with access to major highways, shopping and the Massachusetts state line.
Key Highlights
- Two apartments, each with two bedrooms
- New siding, windows and roof; fresh interior paint
- Three‑car garage plus off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,786
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,720
$635.7K
Cap Rate 7%
$454,086
$454.1K
Cap Rate 9%
$353,178
$353.2K
Market Conditions
NOI Build-Up for 1,909 SF
Gross rent
$48.6K $25.44/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$45.4K $23.79/SF
− OpEx
−$13.6K −$7.14/SF
NOI
$31.8K $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%
$635,720
Cap Rate 7%
$454,086
Cap Rate 9%
$353,178
Alternative Uses
Best Use
Multifamily LT 5
$454.1K
$397.3K – $529.8K
NOI $31,786 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$360.4K
$315.3K – $420.5K
NOI $25,227 @ 7.0% cap · market cap 5.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
469
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two two-bedroom apartments are complemented by refreshed finishes and additional off-street parking.
Where is this duplex located?
The property is located at 43 Summit Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Two apartments, each with two bedrooms; New siding, windows and roof; fresh interior paint; Three‑car garage plus off‑street parking
