Triplex With Detached
New
For Sale
$599,000
6 Henry Street, Central Falls, RI 02863
Residential Income, Central Falls, RI
Property Size3,409 SF
Lot Size0.13 Acres
Price / SF$175.71
Days on Market2
Property Features for 6 Henry Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 7, Bathroom 2, Bathroom 3, Basement, Bedroom 9, Bedroom 8, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 6, Bathroom 1, Bedroom 5
Parking
5
Interior features
Wall (Dry Wall), Attic, Plumbing (Copper), Plumbing (Mixed), Plumbing (PVC), Insulation (Unknown)
Basement
Storage Space, Full, Unfinished
Appliances
Gas Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
Subdivision
Cumberland Line
Lot features
Paved Driveway
Standard status
Active
Size
3,409 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4035
Utilities
Heating system
Natural Gas, Baseboard
Cooling system
Wall Unit(s)
Amenities
manicured yard
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Laminate, Vinyl
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Rachel Baptista Da Moeda · License #RES.0042193
(401) 692-1796
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 4 at 8:06PM
MLS# 1422291
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.
Built in 1920, this 3,409-square-foot triplex offers three residential units with three bedrooms and one full bath per unit. The first floor includes an additional living and dining area, while the basement provides storage space and another bathroom. Separate utilities serve the units, and the property includes a detached garage, off-street parking, and a landscaped 0.1287-acre lot with a pear tree.
The first- and third-floor units are move-in ready. The second floor requires updates to the kitchen and bathroom, offering an as-is acquisition with clearly defined improvement needs. Interior features include hardwood, laminate, and vinyl flooring, drywall, mixed plumbing materials, natural-gas baseboard heat, and wall-unit cooling. The property is located in Central Falls near the Cumberland line, with access to local amenities, major highways, and a train station.
The first- and third-floor units are move-in ready. The second floor requires updates to the kitchen and bathroom, offering an as-is acquisition with clearly defined improvement needs. Interior features include hardwood, laminate, and vinyl flooring, drywall, mixed plumbing materials, natural-gas baseboard heat, and wall-unit cooling. The property is located in Central Falls near the Cumberland line, with access to local amenities, major highways, and a train station.
Key Highlights
- Triplex with three units, each offering three bedrooms and one full bath
- 3,409 square feet on a 0.1287‑acre lot
- Separate utilities for the residential units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,048
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$900,960
$901.0K
Cap Rate 7%
$643,543
$643.5K
Cap Rate 9%
$500,533
$500.5K
Market Conditions
NOI Build-Up for 3,409 SF
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.
Gross rent
$87.1K $25.56/SF
− Vacancy
−$5.2K −$1.53/SF
EGI
$81.9K $24.03/SF
− OpEx
−$36.9K −$10.81/SF
NOI
$45.0K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$900,960
Cap Rate 7%
$643,543
Cap Rate 9%
$500,533
Alternative Uses
Best Use
Multifamily LT 5
$810.9K
$709.5K – $946.0K
NOI $56,761 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$643.5K
$563.1K – $750.8K
NOI $45,048 @ 7.0% cap · market cap 7.52%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
887
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-bedroom units, separate utilities, and off-street parking provide a practical multifamily configuration.
Where is this triplex located?
The property is located at 6 Henry Street Central Falls, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Triplex with three units, each offering three bedrooms and one full bath; 3,409 square feet on a 0.1287‑acre lot; Separate utilities for the residential units
