Four-Unit Residential Income
50 Vernon Street Pawtucket, RI 02860
For Sale
$789,900
Four-unit residential property features a 2BR/2BA main unit plus three additional units with updated bathrooms.
Property Size3,553 SF
Price / SF$222.32
Days on Market52
Property Features for 50 Vernon Street
General Information
- Standard status
- Active
- Size
- 3,553 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing Agency:
J.M.I. Investment Properties
(617) 888-5588
Listed By:
Julie Ilyas
Source:
Milburyre
Added: Jun 6
Changed: Jul 21
Last Checked: Jul 23 at 8:22AM
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 J.M.I. Investment Properties
Investment Insights
Based on property information with market context.
This four-unit residential income property includes a spacious main unit and three additional second-floor and separate-entrance units. The main unit is a 2BR/2BA layout with a kitchen featuring marble floors, granite counters, and custom cabinetry, along with an LG smart refrigerator, dishwasher, and gas stove/oven. The kitchen opens to a dining room with 10-foot ceilings, bay windows, and a steel wood-burning stove, and a living room with 10-foot ceilings, bay windows, and oak floors with crown molding. The primary bedroom includes an attached bathroom with tile floors, while the second bedroom has hardwood floors and access to a second bathroom with tile floors and a fiberglass shower. The main unit also offers a den and an office that lead to the yard. The remaining units include a mix of 1BR/1BA and 2BR/1BA configurations, and all units have updated bathrooms, with full insulation and new sheetrock noted in one unit.
The property is located in the Quality Hill Historic District. An open house is scheduled for OH Sat 6/13–Sun 6/14 from 12:00–2:00 PM.
For sale as a four-unit building, the layout supports a range of residential use through a separate-entrance 1BR/1BA unit and multi-bedroom options across the other floors.
The property is located in the Quality Hill Historic District. An open house is scheduled for OH Sat 6/13–Sun 6/14 from 12:00–2:00 PM.
For sale as a four-unit building, the layout supports a range of residential use through a separate-entrance 1BR/1BA unit and multi-bedroom options across the other floors.
Key Highlights
- 4‑unit residential property with a 2BR/2BA main unit plus three additional units: 1BR/1BA and two units with 2BR/1BA
- Main unit features 10‑foot ceilings, bay windows, and oak floors with crown molding throughout
- Kitchen in the main unit includes marble floors, granite counters, custom cabinetry, and an LG smart refrigerator, dishwasher, and gas stove/microwave
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.4k | $25.44 |
| − Vacancy | −$5.9k | −$1.65 |
| EGI | $84.5k | $23.79 |
| − OpEx | −$25.4k | −$7.14 |
| NOI | $59.2k | $16.65 |
3,553 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$845.1K
$739.5K – $986.0K
NOI $59,159 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$670.7K
$586.9K – $782.5K
NOI $46,951 @ 7.0% cap · market cap 5.94%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit residential property features a 2BR/2BA main unit plus three additional units with updated bathrooms.
Where is this quadplex located?
The property is located at 50 Vernon Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: 4‑unit residential property with a 2BR/2BA main unit plus three additional units: 1BR/1BA and two units with 2BR/1BA; Main unit features 10‑foot ceilings, bay windows, and oak floors with crown molding throughout; Kitchen in the main unit includes marble floors, granite counters, custom cabinetry, and an LG smart refrigerator, dishwasher, and gas stove/microwave
