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    Three-Unit Townhouse-Style Multifamily Title is generated by Realmo AI

    520 Providence Street, West Warwick, RI 02893

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    For Sale
    $677,900

    MULTI_FAMILY - West Warwick, RI

    Property size:
    2,478 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $273/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 520 Providence Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R75
    Bedrooms
    7
    Bathrooms
    4
    Rooms
    Bedroom 6, Bathroom 1, Basement, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 7
    Parking
    8
    Patio and Porch features
    Porch
    Interior features
    Attic, Stairs, Plumbing (Mixed)
    Exterior features
    Porch
    Basement
    Storage Space, Full, Unfinished
    Appliances
    Gas Water Heater, Dryer, Microwave, Washer
    Standard status
    Active
    Size
    2,478 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7231

    Utilities

    Heating system
    Natural Gas, Forced Air

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Vinyl, Laminate, Tile - Ceramic, Hardwood
    Building materials
    Masonry, Other Siding

    We can help!

    Listing Contact
    Cristina Zapata

    Listing agent Cristina Zapata

    Listing office Re/Max New Horizons 390 Broadway, Providence, RI

    Listing date Jun 5, 2026

    MLS# 1414413 Listing URL

    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.

    HighLights

    • 3‑unit multifamily with side‑by‑side townhouse‑style layout
    • Two fully renovated units: 3BR/1.5BA and 2BR/1BA; third unit is a 2BR/1BA tenant‑occupied
    • Separate gas and electric utilities for all units plus in‑unit laundry
    • Detached 2‑car garage and ample off‑street parking
    • New roof and low‑maintenance exterior with terracotta block and stucco
    • Each unit includes modern finishes such as vinyl, laminate, tile, and hardwood flooring

    Overview

    A well-maintained three-unit multifamily property features a unique side-by-side, townhouse-style layout. The building is constructed with durable terracotta block and finished with stucco. Two of the units have been fully renovated, including a 3-bedroom, 1.5-bath unit and a 2-bedroom, 1-bath unit. The third unit is a 2-bedroom, 1-bath that is currently occupied and described as in excellent condition. All units include separate gas and electric utilities and in-unit laundry, which supports efficient day-to-day management.

    The property includes a detached 2-car garage, ample off-street parking, and a large open yard for outdoor space. It is located in West Warwick, Rhode Island, and is described as convenient to shopping, restaurants, schools, and major highways. The property is zoned R75.

    This configuration can suit an owner-occupant or investor seeking a manageable rental setup with three separate units, each with in-unit laundry and individual gas and electric services. With two renovated units and a third occupied unit, the property offers a straightforward path to stable operations, supported by the recent roof replacement.

    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 $55.0k $22.20
    − Vacancy −$3.6k −$1.44
    EGI $51.4k $20.76
    − OpEx −$15.4k −$6.23
    NOI $36.0k $14.53
    2,478 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $514.4K
    $450.1K – $600.1K (±1% cap)
    NOI $36,005 @ 7.0% cap · market cap 5.31%
    Second Best
    Apartment 5plus
    $472.5K
    $413.5K – $551.3K (±1% cap)
    NOI $33,077 @ 7.0% cap · market cap 4.88%
    Theoretical Best
    Specialty Retail
    $620.6K
    $543.1K – $724.1K (±1% cap)
    NOI $43,444 @ 7.0% cap · market cap 6.41%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.496461
    Latitude
    41.714381

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    FAQs

    What type of property is this?
    Triplex - Well-maintained 3-unit property with separate utilities, in-unit laundry, and a new roof for streamlined management.
    Where is this triplex located?
    The property is located at 520 Providence Street West Warwick, RI.
    What is the asking price?
    The asking price for this property is $677,900.
    What are key features of this property?
    This property features: 3‑unit multifamily with side‑by‑side townhouse‑style layout; Two fully renovated units: 3BR/1.5BA and 2BR/1BA; third unit is a 2BR/1BA tenant‑occupied; Separate gas and electric utilities for all units plus in‑unit laundry
    (401) 331-8855
    We can help!
    Listing Contact
    Cristina Zapata
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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