Four-Unit Multifamily
For Sale
$579,000
Pending
64 Nasonville Road, Burrillville, RI 02830
Fire-coded property with a vacant three-bedroom residence, private entrances, and an established mix of occupied units.
Property Size3,685 SF
Days on Market73
Property Features for 64 Nasonville Road
General Information
Standard status
Pending
Size
3,685 SF
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
could use some attention to deferred maintenance
Units
Unit Mix
1 x 3BR, 2 x 2BR, 1 x 1BR efficiency
Multifamily Units
4
Building Details
Year Built
1900
Listing Agency:
RE/MAX Properties
(401) 232-3900
Listed By:
Kristen Moore
Source:
Milburyre
Added: Jun 19
Changed: Aug 30
Last Checked: Aug 30 at 4:10AM
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 RE/MAX Properties
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 3,685 square feet within an older residential building constructed in 1900. The vacant three-bedroom residence includes one full bath, an eat-in kitchen, a large living room with fireplace, a screened porch, two private entrances, and an in-unit washer and dryer area. The remaining residences include two two-bedroom units and one one-bedroom efficiency, with each occupied by established tenants. The property is fire coded and sits on a lot exceeding one-half acre across from the water. Deferred maintenance is noted, providing a clear picture of the building’s current condition.
Key Highlights
- 3,685‑square‑foot four‑unit multifamily property
- Unit mix includes one 3‑bedroom, two 2‑bedroom, and one 1‑bedroom efficiency residence
- Vacant 3‑bedroom unit with fireplace, screened porch, two private entrances, and washer/dryer area
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
$48,696
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
8.41%
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%
$973,920
$973.9K
Cap Rate 7%
$695,657
$695.7K
Cap Rate 9%
$541,067
$541.1K
Market Conditions
NOI Build-Up for 3,685 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
$94.2K $25.56/SF
− Vacancy
−$5.7K −$1.53/SF
EGI
$88.5K $24.03/SF
− OpEx
−$39.8K −$10.81/SF
NOI
$48.7K $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%
$973,920
Cap Rate 7%
$695,657
Cap Rate 9%
$541,067
Alternative Uses
Best Use
Multifamily LT 5
$876.5K
$767.0K – $1.02M
NOI $61,357 @ 7.0% cap · market cap 10.60%
Second Best
Apartment 5plus
$695.7K
$608.7K – $811.6K
NOI $48,696 @ 7.0% cap · market cap 8.41%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 02830, RI
6,474
Population
2,837
Households
2.3
Avg Household Size
46
Median Age
29%
College-Educated
91%
High-School Grad
20.4 sq mi
ZIP Area
317
Density / Sq Mi
$121,611
Median Household Income
$59,876
Median Earnings
$981
Median Rent
$381,200
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?
Quadplex - Fire-coded property with a vacant three-bedroom residence, private entrances, and an established mix of occupied units.
Where is this quadplex located?
The property is located at 64 Nasonville Road Burrillville, RI.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 3,685‑square‑foot four‑unit multifamily property; Unit mix includes one 3‑bedroom, two 2‑bedroom, and one 1‑bedroom efficiency residence; Vacant 3‑bedroom unit with fireplace, screened porch, two private entrances, and washer/dryer area
