Five-Unit Residential Income
513 Washington Street Coventry, RI 02816
For Sale
$800,000
MULTI_FAMILY - Coventry, RI
Property Size4,488 SF
Lot Size0.23 Acres
Price / SF$178.25
Days on Market129
Property Features for 513 Washington Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 5
- Rooms
- Bedroom 9, Bedroom 10, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 6, Bedroom 8, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 4, Basement, Bedroom 5, Bedroom 3, Bathroom 1, Bedroom 7
- 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
- Baseboard, Natural Gas, Electric (Heating)
Building Details
- Year built
- 1800
- Number of units
- 4
- Flooring type
- Laminate
- Building materials
- Vinyl Siding
Listing Agency:
Century 21 Limitless
(508) 567-3468
Listed By:
Kyle Seyboth · License #32535
(508) 726-3492
Added: Mar 20
Changed: Jul 23
Last Checked: Jul 26 at 11:06PM
MLS# 1407056
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.
513 Washington Street in Coventry, Rhode Island is a well-maintained five-unit residential property built around a consistent 2-bedroom layout across all units. The offering totals five separate residential units, with off-street parking provided for resident convenience.
The property is positioned near the Washington Street corridor, offering convenient access to local shopping, dining, and everyday amenities. It also has quick access to Route 117 and Interstate 95 for commuting toward nearby areas including Warwick, Cranston, and Providence.
As an income-focused multifamily asset, the building’s uniform unit mix and maintained condition are designed to support straightforward management and tenant appeal within the 2-bedroom category.
The property is positioned near the Washington Street corridor, offering convenient access to local shopping, dining, and everyday amenities. It also has quick access to Route 117 and Interstate 95 for commuting toward nearby areas including Warwick, Cranston, and Providence.
As an income-focused multifamily asset, the building’s uniform unit mix and maintained condition are designed to support straightforward management and tenant appeal within the 2-bedroom category.
Key Highlights
- 5‑unit residential property in Coventry, Rhode Island, built in 1800
- Each unit features 2 bedrooms, offering a consistent unit layout across all five units
- Off‑street parking available for residents
Financial Insights For Apartment 5plus
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 | $116.9k | $26.04 |
| − Vacancy | −$7.9k | −$1.77 |
| EGI | $108.9k | $24.27 |
| − OpEx | −$49.0k | −$10.92 |
| NOI | $59.9k | $13.35 |
4,488 SF · lease $26.04/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$855.8K
$748.8K – $998.4K
NOI $59,906 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.12M
$983.6K – $1.31M
NOI $78,684 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well-maintained five-unit property with uniform two-bedroom layouts and off-street parking in Coventry, Rhode Island.
Where is this apartment building located?
The property is located at 513 Washington Street Coventry, RI.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 5‑unit residential property in Coventry, Rhode Island, built in 1800; Each unit features 2 bedrooms, offering a consistent unit layout across all five units; Off‑street parking available for residents
