Renovated Two-Family
For Sale
$599,900
474 Main Street, Woonsocket, RI 02895
Legal two-unit property with separate utilities, modernized interiors, and substantial off-street parking.
Property Size3,396 SF
Price / SF$176.65
Days on Market57
Property Features for 474 Main Street
General Information
Standard status
Active
Size
3,396 SF
Property subtype
MultiFamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1892
Buildings
1
Listing Agency:
Century 21 Limitless
(617) 749-7178
Listed By:
Stewart Amas · License #RES.0048990
(617) 888-9136
Source:
Lockandkeyre
Added: Aug 31
Changed: Oct 26
Last Checked: Oct 24 at 5:03PM
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 Century 21 Limitless
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Investment Insights
Based on property information with market context.
This legal two-family duplex in Woonsocket, RI, combines updated residential interiors with separate building systems. The first-floor residence contains approx. 1,270 sq. ft., two bedrooms, two full baths, a living room with fireplace, a large kitchen, and an enclosed walkout sun porch. The upper townhouse spans more than 2,100 sq. ft. across the second and third floors, with three bedrooms, one full bath, a two-level layout, three high-efficiency mini-splits, and a rebuilt third floor.
Renovations include a new roof and gutters, 38 replacement windows, a complete electrical rewire, new plumbing and water service, updated HVAC, modern kitchens and bathrooms, electric water heaters, and hardwired smoke/CO detectors. Each unit has separate 200-amp electric service, supplemented by a house meter. A detached one-car garage, large driveway, and ample off-street parking are also included. The legal conversion was completed with permits and final inspections. The property is near shopping, schools, restaurants, highways, and transit.
Renovations include a new roof and gutters, 38 replacement windows, a complete electrical rewire, new plumbing and water service, updated HVAC, modern kitchens and bathrooms, electric water heaters, and hardwired smoke/CO detectors. Each unit has separate 200-amp electric service, supplemented by a house meter. A detached one-car garage, large driveway, and ample off-street parking are also included. The legal conversion was completed with permits and final inspections. The property is near shopping, schools, restaurants, highways, and transit.
Key Highlights
- Legal two‑family conversion completed with permits and final inspections
- First‑floor unit measures approx. 1,270 sq. ft. with 2 bedrooms and 2 full baths
- Upper townhouse offers 2,100+ sq. ft., 3 bedrooms, and a two‑level layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,877
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$897,540
$897.5K
Cap Rate 7%
$641,100
$641.1K
Cap Rate 9%
$498,633
$498.6K
Market Conditions
NOI Build-Up for 3,396 SF
Gross rent
$86.8K $25.56/SF
− Vacancy
−$5.2K −$1.53/SF
EGI
$81.6K $24.03/SF
− OpEx
−$36.7K −$10.81/SF
NOI
$44.9K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$897,540
Cap Rate 7%
$641,100
Cap Rate 9%
$498,633
Alternative Uses
Best Use
Multifamily LT 5
$807.8K
$706.8K – $942.4K
NOI $56,545 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$641.1K
$561.0K – $748.0K
NOI $44,877 @ 7.0% cap · market cap 7.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
452
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
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-unit property with separate utilities, modernized interiors, and substantial off-street parking.
Where is this duplex located?
The property is located at 474 Main Street Woonsocket, 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: Legal two‑family conversion completed with permits and final inspections; First‑floor unit measures approx. 1,270 sq. ft. with 2 bedrooms and 2 full baths; Upper townhouse offers 2,100+ sq. ft., 3 bedrooms, and a two‑level layout
