Three-Unit Triplex with
New
For Sale
$650,000
464 North Main Street, Woonsocket, RI 02895
Three separate residences include generous living areas and a mix of pantry and eat-in kitchen layouts.
Property Size3,512 SF
Price / SF$185.08
Days on Market5
Property Features for 464 North Main Street
General Information
Standard status
Active
Size
3,512 SF
Property subtype
MultiFamily
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Amenities
swimming pool
fenced yard
composite porches
Building Details
Year Built
1900
Listing Agency:
Flagship Real Estate Advisors
(401) 789-2255
Listed By:
David Dunne · License #REB.0019486
(401) 473-5299
Source:
Lockandkeyre
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 12 at 8:37PM
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 Flagship Real Estate Advisors
Investment Insights
Based on property information with market context.
At 464 North Main Street in Woonsocket, this 3,512-square-foot triplex contains three three-bedroom apartments, each with a double-parlor plan. The first- and second-floor homes have pantry kitchens connected to dining areas; the third-floor residence has an updated eat-in kitchen. Original wood flooring remains in two units, and the property was built in 1900.
Exterior features include a fenced yard, swimming pool, composite porches, off-street parking, and a detached two-car garage. The building also has a newer roof and occupies a corner lot.
Exterior features include a fenced yard, swimming pool, composite porches, off-street parking, and a detached two-car garage. The building also has a newer roof and occupies a corner lot.
Key Highlights
- Three apartments, each with three bedrooms and a double‑parlor layout
- 3,512 square feet; built in 1900
- Pantry kitchens with adjoining dining areas in the first- and second‑floor units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,476
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,169,520
$1.2M
Cap Rate 7%
$835,371
$835.4K
Cap Rate 9%
$649,733
$649.7K
Market Conditions
NOI Build-Up for 3,512 SF
Gross rent
$89.3K $25.44/SF
− Vacancy
−$5.8K −$1.65/SF
EGI
$83.5K $23.79/SF
− OpEx
−$25.1K −$7.14/SF
NOI
$58.5K $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%
$1,169,520
Cap Rate 7%
$835,371
Cap Rate 9%
$649,733
Alternative Uses
Best Use
Multifamily LT 5
$835.4K
$731.0K – $974.6K
NOI $58,476 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$663.0K
$580.1K – $773.5K
NOI $46,409 @ 7.0% cap · market cap 7.14%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,022
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences include generous living areas and a mix of pantry and eat-in kitchen layouts.
Where is this triplex located?
The property is located at 464 North Main Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three apartments, each with three bedrooms and a double‑parlor layout; 3,512 square feet; built in 1900; Pantry kitchens with adjoining dining areas in the first- and second‑floor units
