Four-Unit Residential Income
For Sale
$700,000
513 Washington Street, Coventry, RI 02816
Residential Income, Coventry, RI
Property Size4,488 SF
Lot Size0.23 Acres
Price / SF$155.97
Days on Market55
Property Features for 513 Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 1, Bathroom 5, Bathroom 3, Bedroom 8, Basement, Bedroom 5, Bedroom 6, Bedroom 7, Bedroom 9, Bedroom 2, Bedroom 1, Bedroom 10, Bedroom 4, Bedroom 3, Bathroom 4
Parking
12
Parking features
None
Basement
Full, Unfinished
Appliances
Electric Water Heater
Standard status
Active
Size
4,488 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5577
Utilities
Heating system
Electric (Heating), Natural Gas, Baseboard
Building Details
Year built
1800
Number of units
4
Flooring type
Laminate
Building materials
Vinyl Siding
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Kyle Seyboth · License #REB.0019335
(508) 726-3492
Added: Aug 12
Changed: Sep 16
Last Checked: Oct 5 at 10:06PM
MLS# 1420456
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 four-unit residential property contains 4,488 square feet on a 0.23-acre parcel. The building features vinyl siding, laminate flooring, an electric water heater, and a combination of natural gas, baseboard, and electric heating. The recorded year built is 1800.
The property is located on Washington Street in Coventry, near the Washington Street corridor, Centre of New England, Tiogue Lake, and the Washington Secondary Bike Path. Route 117 and Interstate 95 provide connections toward Warwick, Cranston, and Providence, while nearby shopping, dining, and everyday amenities add convenience to the surrounding area.
The property is located on Washington Street in Coventry, near the Washington Street corridor, Centre of New England, Tiogue Lake, and the Washington Secondary Bike Path. Route 117 and Interstate 95 provide connections toward Warwick, Cranston, and Providence, while nearby shopping, dining, and everyday amenities add convenience to the surrounding area.
Key Highlights
- Four‑unit residential property with 4,488 square feet
- 0.23‑acre parcel in Coventry, RI
- Vinyl siding and laminate flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,906
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,198,120
$1.2M
Cap Rate 7%
$855,800
$855.8K
Cap Rate 9%
$665,622
$665.6K
Market Conditions
NOI Build-Up for 4,488 SF
Gross rent
$116.9K $26.04/SF
− Vacancy
−$7.9K −$1.77/SF
EGI
$108.9K $24.27/SF
− OpEx
−$49.0K −$10.92/SF
NOI
$59.9K $13.35/SF
Area
Kent County, RI
Vacancy
6.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,198,120
Cap Rate 7%
$855,800
Cap Rate 9%
$665,622
Alternative Uses
Best Use
Multifamily LT 5
$931.6K
$815.1K – $1.09M
NOI $65,210 @ 7.0% cap · market cap 9.32%
Second Best
Apartment 5plus
$855.8K
$748.8K – $998.4K
NOI $59,906 @ 7.0% cap · market cap 8.56%
Theoretical Best
Specialty Retail
$1.12M
$983.6K – $1.31M
NOI $78,684 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 02816, RI
33,206
Population
14,505
Households
2.3
Avg Household Size
45
Median Age
32%
College-Educated
93%
High-School Grad
36.9 sq mi
ZIP Area
900
Density / Sq Mi
$97,941
Median Household Income
$51,773
Median Earnings
$1,168
Median Rent
$317,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Vinyl siding, laminate flooring, and mixed heating systems serve the existing multifamily layout.
Where is this quadplex located?
The property is located at 513 Washington Street Coventry, RI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Four‑unit residential property with 4,488 square feet; 0.23‑acre parcel in Coventry, RI; Vinyl siding and laminate flooring
