Historic Triplex with Solar
For Sale
$735,000
49 Arnold Street, East Providence, RI 02915
Updated three-unit property with architectural character, modern systems, and flexible apartment configurations.
Property Size3,468 SF
Price / SF$211.94
Days on Market55
Property Features for 49 Arnold Street
General Information
Standard status
Active
Size
3,468 SF
Property subtype
MultiFamily
Units
Unit Mix
1 x 2BR, 1 x 1BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Broadway Real Estate Group
(401) 354-7969
Listed By:
Marissa Bouchard · License #REB.0019110
(401) 864-6514
Source:
Lockandkeyre
Added: Aug 13
Changed: Oct 4
Last Checked: Oct 5 at 7:17PM
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 Broadway Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1890, this 3,468-square-foot triplex combines period craftsmanship with updated building systems. The first-floor residence includes two bedrooms and a double parlor, while the second level contains two additional one-bedroom, one-bath apartments. The rear apartment connects to the third floor, creating potential for a townhouse-style layout with up to four bedrooms and two baths.
Property features include diamond-grid windows, detailed woodwork, exposed beams, brick fireplaces, and hardwood flooring. Improvements include owned solar panels, mini-split systems, newer boilers, and a new roof. The building occupies a maintained corner lot in Riverside, near Willet Pond and the East Bay Bike Path.
Property features include diamond-grid windows, detailed woodwork, exposed beams, brick fireplaces, and hardwood flooring. Improvements include owned solar panels, mini-split systems, newer boilers, and a new roof. The building occupies a maintained corner lot in Riverside, near Willet Pond and the East Bay Bike Path.
Key Highlights
- 3,468‑square‑foot triplex built in 1890
- Three apartments: one two‑bedroom unit and two one‑bedroom, one‑bath units
- Rear second‑floor apartment connects to the third floor for potential townhouse‑style expansion
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,744
Cap Rate
7.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,880
$1.2M
Cap Rate 7%
$824,914
$824.9K
Cap Rate 9%
$641,600
$641.6K
Market Conditions
NOI Build-Up for 3,468 SF
Gross rent
$88.2K $25.44/SF
− Vacancy
−$5.7K −$1.65/SF
EGI
$82.5K $23.79/SF
− OpEx
−$24.7K −$7.14/SF
NOI
$57.7K $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%
$1,154,880
Cap Rate 7%
$824,914
Cap Rate 9%
$641,600
Alternative Uses
Best Use
Multifamily LT 5
$824.9K
$721.8K – $962.4K
NOI $57,744 @ 7.0% cap · market cap 7.86%
Second Best
Apartment 5plus
$654.7K
$572.9K – $763.8K
NOI $45,828 @ 7.0% cap · market cap 6.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
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Business Placement
Demographics for 02915, RI
16,603
Population
7,746
Households
2.1
Avg Household Size
47
Median Age
36%
College-Educated
92%
High-School Grad
5.5 sq mi
ZIP Area
3,019
Density / Sq Mi
$90,558
Median Household Income
$61,062
Median Earnings
$1,482
Median Rent
$317,600
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 - Updated three-unit property with architectural character, modern systems, and flexible apartment configurations.
Where is this triplex located?
The property is located at 49 Arnold Street East Providence, RI.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 3,468‑square‑foot triplex built in 1890; Three apartments: one two‑bedroom unit and two one‑bedroom, one‑bath units; Rear second‑floor apartment connects to the third floor for potential townhouse‑style expansion
