507 Summer Street Woonsocket, RI 02895
MULTI_FAMILY - Woonsocket, RI
Property Features for 507 Summer Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 2, Basement
- Parking
- 7
- Basement
- Full, Partially Finished
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 1,843 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4819
Utilities
- Heating system
- Electric (Heating), Natural Gas, Forced Air, Baseboard
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Hardwood, Laminate
- Building materials
- Vinyl Siding
Listing agent Jaston Robinson (401) 649-2358
Listing office Here Realty 875 Oaklawn Avenue, Cranston, RI (401) 862-1251
Listing date Jul 15, 2026
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.
A detached garage and ample off-street parking support day-to-day use. The property also includes an additional lot in Blackstone, MA; buyers should perform their own due diligence regarding any future building potential.
The lower level layout and separate exterior access provide added flexibility for storage or expanded living space, subject to applicable approvals and buyer requirements.
Key Highlights
- 4‑bedroom, 2‑bath home with rooms including 4 bedrooms and 2 bathrooms
- Walk‑out basement with two separate exits and an existing heating system
- Each unit is equipped with its own forced hot air heating system
Local 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 | $46.9k | $25.44 |
| − Vacancy | −$3.0k | −$1.65 |
| EGI | $43.8k | $23.79 |
| − OpEx | −$13.2k | −$7.14 |
| NOI | $30.7k | $16.65 |
