Updated Three-Unit
For Sale
$735,000
49 Arnold Street, East Providence, RI 02915
Residential Income, East Providence, RI
Property Size3,468 SF
Lot Size0.23 Acres
Price / SF$211.94
Days on Market8
Property Features for 49 Arnold Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 7, Bedroom 4, Bedroom 5, Basement, Bathroom 3, Bedroom 6, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Parking
9
Patio and Porch features
Porch
Exterior features
Porch
Fireplace
1
Basement
Full, Unfinished, Storage Space
Appliances
Electric Water Heater
Lot features
Corner Lot, Paved Driveway, Wooded
Standard status
Active
Size
3,468 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8780
Utilities
Heating system
Heat Pump (Heating), Solar (Heating), Electric (Heating), Steam
Amenities
solar panels
mini split systems
brick fireplaces
hardwood floors
Building Details
Year built
1890
Floors in Building
3
Number of units
3
Flooring type
Vinyl, Hardwood, Tile - Ceramic
Building materials
Masonry, Vinyl Siding
Listing Agency:
Broadway Real Estate Group
(401) 354-7969
Listed By:
Marissa Bouchard
(401) 864-6514
Added: Aug 13
Changed: Aug 20
Last Checked: Aug 20 at 5:06PM
MLS# 1420584
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.
This 3,468-square-foot triplex, built in 1890, combines period detailing with substantial recent improvements. The first-floor residence includes a double parlor and two bedrooms. Upstairs, one apartment has one bedroom and one bath, while the rear unit currently offers one bedroom and one bath with a connecting third-floor area that could support a townhouse-style layout of up to four bedrooms and two baths. Diamond-grid windows, exposed beams, brick fireplaces, hardwood floors, and a porch add character throughout the property.
The building occupies a 0.23-acre corner lot at 49 Arnold Street in East Providence. Owned solar panels help reduce electric usage, while mini-split systems, newer boilers, and a brand-new roof provide updated building systems. Additional features include masonry and vinyl siding, ceramic tile and vinyl flooring, an electric water heater, and steam and electric heating components. The property is steps from Willet Pond and the East Bay Bike Path.
The building occupies a 0.23-acre corner lot at 49 Arnold Street in East Providence. Owned solar panels help reduce electric usage, while mini-split systems, newer boilers, and a brand-new roof provide updated building systems. Additional features include masonry and vinyl siding, ceramic tile and vinyl flooring, an electric water heater, and steam and electric heating components. The property is steps from Willet Pond and the East Bay Bike Path.
Key Highlights
- 3,468‑square‑foot triplex on a 0.23‑acre corner lot
- Three residential units with a flexible rear‑unit configuration
- First‑floor unit includes a double parlor and two bedrooms
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
$57,744
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
7.86%
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%
$1,154,880
$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
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
$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 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%
$1,154,880
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
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Explore this area
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
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 - Historic multifamily property with solar panels, flexible unit configurations, and architectural details on a maintained corner lot.
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 on a 0.23‑acre corner lot; Three residential units with a flexible rear‑unit configuration; First‑floor unit includes a double parlor and two bedrooms
