Townhouse-Style Duplex with
For Sale
$389,900
Pending
60 Greene Street, Woonsocket, RI 02895
Separate meters and natural-gas-fired utilities support straightforward allocation between the two residential units.
Property Size2,300 SF
Days on Market32
Property Features for 60 Greene Street
General Information
Standard status
Pending
Size
2,300 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Exterior in need of scrape & paint or wrap & siding
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Building Size
2,300 SF
Year Built
1900
Stories
2
Listing Agency:
Williams & Stuart Real Estate
(413) 717-0635
Listed By:
Dee Conley
Source:
Dawnmarano.kw
Added: Jul 31
Changed: Aug 31
Last Checked: Aug 31 at 12:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Williams & Stuart Real Estate
Investment Insights
Based on property information with market context.
This 2,300-square-foot duplex offers side-by-side townhouse-style living with one two-bedroom unit and one three-bedroom unit. The property includes a detached 1,020-square-foot garage, on-site parking, a newer roof, replacement windows, and updated mechanical components. Separate meters serve the natural-gas-fired utilities.
One residence has been renovated with original hardwood floors, pocket doors, a walk-in closet, and a bonus room. The other includes ramp access and handicap accommodations, while cosmetic improvements remain for the next owner. Exterior work includes scraping and painting or installing new siding. Built in 1900, the property is located at 60 Greene Street in Woonsocket, Rhode Island.
One residence has been renovated with original hardwood floors, pocket doors, a walk-in closet, and a bonus room. The other includes ramp access and handicap accommodations, while cosmetic improvements remain for the next owner. Exterior work includes scraping and painting or installing new siding. Built in 1900, the property is located at 60 Greene Street in Woonsocket, Rhode Island.
Key Highlights
- Side‑by‑side duplex with two- and three‑bedroom units
- Detached 1020 SF garage with on‑site parking
- Separate meters for natural‑gas‑fired utilities
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
$30,393
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
7.80%
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%
$607,860
$607.9K
Cap Rate 7%
$434,186
$434.2K
Cap Rate 9%
$337,700
$337.7K
Market Conditions
NOI Build-Up for 2,300 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
$58.8K $25.56/SF
− Vacancy
−$3.5K −$1.53/SF
EGI
$55.3K $24.03/SF
− OpEx
−$24.9K −$10.81/SF
NOI
$30.4K $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%
$607,860
Cap Rate 7%
$434,186
Cap Rate 9%
$337,700
Alternative Uses
Best Use
Multifamily LT 5
$547.1K
$478.7K – $638.3K
NOI $38,296 @ 7.0% cap · market cap 9.82%
Second Best
Apartment 5plus
$434.2K
$379.9K – $506.6K
NOI $30,393 @ 7.0% cap · market cap 7.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,322
Businesses Nearby
Explore this area
Business Placement
Demographics for 02895, RI
43,269
Population
19,443
Households
2.2
Avg Household Size
38
Median Age
19%
College-Educated
82%
High-School Grad
7.8 sq mi
ZIP Area
5,547
Density / Sq Mi
$58,579
Median Household Income
$40,929
Median Earnings
$1,116
Median Rent
$267,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate meters and natural-gas-fired utilities support straightforward allocation between the two residential units.
Where is this duplex located?
The property is located at 60 Greene Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Side‑by‑side duplex with two- and three‑bedroom units; Detached 1020 SF garage with on‑site parking; Separate meters for natural‑gas‑fired utilities
