Legal Two-Family
644 Elm Street Woonsocket, RI 02895
644 Elm Street, Woonsocket, RI, 02895
$575,000
For Sale
$575,000
Well-maintained legal two-family with separate heating and updated roof, boilers, and hot water systems.
Property Size3,024 SF
Lot Size0.30 Acres
Price / SF$190.15
Days on Market35
Property Features for 644 Elm Street
General Information
- Standard status
- Active
- Size
- 3,024 SF
- Lot size
- 0.30 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1940
Listing agency
J. Christopher Real Estate Grp
Listed by
Roberto Barrera
(401) 619-8222
Source
Teridegnan
Added: Jun 18 Updated: Jul 21 at 2:53PM Checked: Jul 22 at 7:41AM
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 J. Christopher Real Estate Grp
Investment Insights
Based on property information with market context.
Well-maintained legal two-family property offering 3,024 square feet of living space on a 13,068-square-foot lot. The home includes a spacious 4-bedroom, 2-bath unit and a separate 2-bedroom, 1-bath unit. Both units have tenant-paid gas heat and electric.
Recent improvements include a new roof in 2025, a new boiler for the left-side unit in 2024, and new hot water heaters for the left-side unit in 2025 and the right-side unit in 2022. Updates also include new kitchen cabinets and numerous interior improvements throughout both units.
Additional features include vinyl siding, public water and sewer, and lead compliance certificates. The property is described as conveniently located near shopping, schools, restaurants, and major commuter routes.
Recent improvements include a new roof in 2025, a new boiler for the left-side unit in 2024, and new hot water heaters for the left-side unit in 2025 and the right-side unit in 2022. Updates also include new kitchen cabinets and numerous interior improvements throughout both units.
Additional features include vinyl siding, public water and sewer, and lead compliance certificates. The property is described as conveniently located near shopping, schools, restaurants, and major commuter routes.
Key Highlights
- Legal two‑family with 3,024 SF of living space on a 13,068 SF lot, built in 1940
- Unit mix: spacious 4‑bedroom, 2‑bath unit plus 2‑bedroom, 1‑bath unit
- Separate tenant‑paid gas heat and electric for each unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.9k | $25.44 |
| − Vacancy | −$5.0k | −$1.65 |
| EGI | $71.9k | $23.79 |
| − OpEx | −$21.6k | −$7.14 |
| NOI | $50.4k | $16.65 |
3,024 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$719.3K
$629.4K – $839.2K
NOI $50,351 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$570.9K
$499.5K – $666.0K
NOI $39,961 @ 7.0% cap · market cap 6.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained legal two-family with separate heating and updated roof, boilers, and hot water systems.
Where is this duplex located?
The property is located at 644 Elm Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Legal two‑family with 3,024 SF of living space on a 13,068 SF lot, built in 1940; Unit mix: spacious 4‑bedroom, 2‑bath unit plus 2‑bedroom, 1‑bath unit; Separate tenant‑paid gas heat and electric for each unit
