Duplex Townhouse With Detached
For Sale
$389,900
Pending
60 Greene Street, Woonsocket, RI 02895
MULTI_FAMILY - Woonsocket, RI
Property Size2,300 SF
Lot Size0.26 Acres
Days on Market12
Property Features for 60 Greene Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 1, Basement
Parking
7
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Wall (Plaster), Wall (Wood), Internal Expansion, Stairs, Plumbing (Copper), Plumbing (Galvanized), Plumbing (Mixed), Plumbing (PEX), Plumbing (PVC), Insulation (Unknown)
Exterior features
Porch
Basement
Full, Unfinished, Storage Space
Accessibility
Accessible Approach with Ramp
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Subdivision
Downtown/Park Street
Lot features
Paved Driveway
Standard status
Pending
Size
2,300 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5975
Utilities
Sewer type
Public Sewer
Heating system
Steam, Natural Gas
Cooling system
Window Unit(s)
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Laminate, Carpet, Vinyl
Building materials
Dry Wall, Plaster, Wood Wall(s), Other Siding, Shingles, Wood
Listing Agency:
Williams & Stuart Real Estate
(401) 942-0200
Listed By:
Dee Conley
(401) 952-0664
Added: Jul 31
Changed: Aug 10
Last Checked: Aug 11 at 9:06PM
MLS# 1419440
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.
Townhouse-style duplex offering a side-by-each layout with two separate units and separate natural gas utility meters. The property includes a detached 1,020 SF garage and a porch, with window unit cooling and steam natural gas heating. Interior features span multiple wall types and a mix of flooring, including hardwood, laminate, vinyl, and carpet. The home includes copper, galvanized, mixed, PEX, and PVC plumbing types, plus stairs and multiple bedrooms and bathrooms.
Exterior and systems have had updates, including a young roof, replacement windows, and updated mechanicals. One unit includes accessibility accommodations with a handicap ramp, and a second unit features a renovated layout with original hardwoods, pocket doors, a walk-in closet, and a bonus room.
Set on a 0.26-acre lot with public sewer service and constructed in 1900, the property offers parking and practical space for a tenant-ready or light-renovation duplex plan.
Exterior and systems have had updates, including a young roof, replacement windows, and updated mechanicals. One unit includes accessibility accommodations with a handicap ramp, and a second unit features a renovated layout with original hardwoods, pocket doors, a walk-in closet, and a bonus room.
Set on a 0.26-acre lot with public sewer service and constructed in 1900, the property offers parking and practical space for a tenant-ready or light-renovation duplex plan.
Key Highlights
- Side‑by‑each townhouse‑style duplex with separate natural gas utility meters
- Detached 1,020 SF garage plus plenty of parking
- 0.26‑acre lot with public sewer service
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
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 - Two townhouse-style units with separate gas meters, a detached 1,020 SF garage, and parking on a 0.26-acre lot.
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‑each townhouse‑style duplex with separate natural gas utility meters; Detached 1,020 SF garage plus plenty of parking; 0.26‑acre lot with public sewer service
