Duplex with Detached
New
For Sale
$600,000
57 Rand Street, Central Falls, RI 02863
Residential Income, Central Falls, RI
Property Size2,679 SF
Lot Size0.17 Acres
Price / SF$223.96
Days on Market4
Property Features for 57 Rand Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bathroom 2, Bedroom 6, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 1
Parking
11
Window features
Insulated Windows
Interior features
Wall (Plaster), Attic Stairs, Plumbing (Copper), Plumbing (Mixed), Insulation (Unknown)
Basement
Finished, Full, Storage Space
Appliances
Dryer, Range Hood, Refrigerator, Washer, Gas Water Heater
Subdivision
Central Falls
Lot features
Fenced, Paved Driveway
Standard status
Active
Size
2,679 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3457
Utilities
Heating system
Natural Gas, Baseboard
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Flooring type
Tile - Ceramic, Carpet, Vinyl
Building materials
Plaster, Aluminum Siding
Listing Agency:
August Associates, Llc
(401) 461-0700
Listed By:
Joe McCarthy
(401) 487-1510
Added: Oct 22
Last Checked: Oct 25 at 11:06AM
MLS# 1426710
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.
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Investment Insights
Based on property information with market context.
This 2,679-square-foot duplex contains two three-bedroom units, each with open living and dining areas, a pantry, and two bay windows. A third level offers space with potential for studio use. The property also includes a four-car garage and a 0.17-acre lot with off-street parking. Natural-gas boilers provide baseboard heat and were recently serviced.
Built in 1900, the building has aluminum siding, plaster walls, and a mix of tile, carpet, and vinyl flooring. The property is zoned R-3 and is located in Central Falls, Rhode Island.
Built in 1900, the building has aluminum siding, plaster walls, and a mix of tile, carpet, and vinyl flooring. The property is zoned R-3 and is located in Central Falls, Rhode Island.
Key Highlights
- Two three‑bedroom units in a 2,679‑square‑foot duplex
- Four‑car garage
- Third‑level area with potential for studio use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,607
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$892,140
$892.1K
Cap Rate 7%
$637,243
$637.2K
Cap Rate 9%
$495,633
$495.6K
Market Conditions
NOI Build-Up for 2,679 SF
Gross rent
$68.2K $25.44/SF
− Vacancy
−$4.4K −$1.65/SF
EGI
$63.7K $23.79/SF
− OpEx
−$19.1K −$7.14/SF
NOI
$44.6K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$892,140
Cap Rate 7%
$637,243
Cap Rate 9%
$495,633
Alternative Uses
Best Use
Multifamily LT 5
$637.2K
$557.6K – $743.5K
NOI $44,607 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$505.7K
$442.5K – $590.0K
NOI $35,402 @ 7.0% cap · market cap 5.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences share a property with a four-car garage and a third-level area with studio potential.
Where is this duplex located?
The property is located at 57 Rand Street Central Falls, RI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two three‑bedroom units in a 2,679‑square‑foot duplex; Four‑car garage; Third‑level area with potential for studio use
