Updated Three-Family
For Sale
Under Contract
$679,900
45 High Street, Burrillville, RI 02859
Residential Income, Burrillville, RI
Property Size3,352 SF
Lot Size0.33 Acres
Price / SF$202.83
Days on Market46
Property Features for 45 High Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 7, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Basement
Parking
8
Parking features
None
Patio and Porch features
Deck
Interior features
Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Wall (Wood), Attic, Attic Stairs, Plumbing (Mixed), Insulation (Unknown)
Exterior features
Deck
Basement
Unfinished, Full
Appliances
Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
Subdivision
Pascoag
Lot features
Paved Driveway
Standard status
Active Under Contract
Size
3,352 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5699
Utilities
Heating system
Oil, Baseboard
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Carpet, Laminate, Tile - Ceramic, Hardwood
Building materials
Dry Wall, Paneled, Plaster, Wood Wall(s), Vinyl Siding
Listing Agency:
Bhhs Commonwealth Real Estate · Berkshire Hathaway HomeServices
(401) 886-6100
Listed By:
Tyler Gammons
(401) 330-0192
Added: Jul 6
Changed: Aug 20
Last Checked: Aug 20 at 5:06PM
MLS# 1416118
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.
45 A-C High Street is an updated three-family residence offering a mix of unit layouts. The first-floor unit features three bedrooms and two full baths, with private access to a full basement. The second- and third-floor units each offer two bedrooms and one full bath, with recent paint and flooring updates. The home includes a deck and several interior finishes such as hardwood, laminate, carpet, and tile flooring, along with attic space.
The property is connected to public water and sewer. Updates and improvements include a new driveway, vinyl siding, and newer boilers. Off-street parking is available, and each tenant pays their own utilities.
Built in 1900 and totaling 3,352 square feet, the building uses oil baseboard heat and includes in-unit appliances such as dishwasher, dryer, microwave, oven/range, refrigerator, and washer.
The property is connected to public water and sewer. Updates and improvements include a new driveway, vinyl siding, and newer boilers. Off-street parking is available, and each tenant pays their own utilities.
Built in 1900 and totaling 3,352 square feet, the building uses oil baseboard heat and includes in-unit appliances such as dishwasher, dryer, microwave, oven/range, refrigerator, and washer.
Key Highlights
- Three‑family layout with first‑floor 3 bed/2 bath and second/third‑floor 2 bed/1 bath units
- Recent paint and flooring updates in the second- and third‑floor units
- Connected to public water and sewer, with newer boilers
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
$55,812
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
8.21%
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%
$1,116,240
$1.1M
Cap Rate 7%
$797,314
$797.3K
Cap Rate 9%
$620,133
$620.1K
Market Conditions
NOI Build-Up for 3,352 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
$85.3K $25.44/SF
− Vacancy
−$5.5K −$1.65/SF
EGI
$79.7K $23.79/SF
− OpEx
−$23.9K −$7.14/SF
NOI
$55.8K $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 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%
$1,116,240
Cap Rate 7%
$797,314
Cap Rate 9%
$620,133
Alternative Uses
Best Use
Multifamily LT 5
$797.3K
$697.7K – $930.2K
NOI $55,812 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$632.8K
$553.7K – $738.3K
NOI $44,295 @ 7.0% cap · market cap 6.51%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 02859, RI
6,701
Population
2,465
Households
2.7
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
27.6 sq mi
ZIP Area
243
Density / Sq Mi
$118,662
Median Household Income
$43,417
Median Earnings
$1,223
Median Rent
$361,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Updated three-family home with off-street parking, public water and sewer, and separate tenant utility responsibility.
Where is this triplex located?
The property is located at 45 High Street Burrillville, RI.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Three‑family layout with first‑floor 3 bed/2 bath and second/third‑floor 2 bed/1 bath units; Recent paint and flooring updates in the second- and third‑floor units; Connected to public water and sewer, with newer boilers
