Updated Triplex with Coin
New
For Sale
$629,900
77 Henry Street, Central Falls, RI 02863
Three-unit residential property with two three-bedroom layouts, a renovated one-bedroom unit, and paved off-street parking.
Property Size2,400 SF
Price / SF$262.46
Days on Market5
Property Features for 77 Henry Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
MultiFamily
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR, 1 x 1BR/1BA
Multifamily Units
3
Amenities
coin-operated laundry
Building Details
Year Built
1920
Listing Agency:
Coldwell Banker Realty
(401) 333-0010
Listed By:
Robin Chudnow-Marsh · License #RES.0027386
(401) 578-4871
Source:
Lockandkeyre
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 5:28AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 2,400-square-foot triplex, built in 1920, combines two three-bedroom apartments with a renovated one-bedroom unit. The larger apartments include kitchens, living areas, full bathrooms, and carpet or laminate flooring. The one-bedroom layout adds a mudroom, full bath, and living area. A common-area coin-operated laundry provides an additional on-site feature.
Recent property updates include a newer roof and updated hot water heaters. The building is served by city water, city sewer, and natural gas. A paved parking area accommodates 9+ vehicles, and the property occupies a corner lot at 77 Henry Street in Central Falls, Rhode Island.
Shopping, public transit, and houses of worship are within walking distance, adding convenient access to nearby daily services and transportation.
Recent property updates include a newer roof and updated hot water heaters. The building is served by city water, city sewer, and natural gas. A paved parking area accommodates 9+ vehicles, and the property occupies a corner lot at 77 Henry Street in Central Falls, Rhode Island.
Shopping, public transit, and houses of worship are within walking distance, adding convenient access to nearby daily services and transportation.
Key Highlights
- Three‑unit configuration with two 3‑bedroom apartments and one 1‑bedroom apartment
- 2,400 SF triplex built in 1920
- Unit 3 renovated with a mudroom, full bath, and living 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
$39,961
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
6.34%
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%
$799,220
$799.2K
Cap Rate 7%
$570,871
$570.9K
Cap Rate 9%
$444,011
$444.0K
Market Conditions
NOI Build-Up for 2,400 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
$61.1K $25.44/SF
− Vacancy
−$4.0K −$1.65/SF
EGI
$57.1K $23.79/SF
− OpEx
−$17.1K −$7.14/SF
NOI
$40.0K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
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%
$799,220
Cap Rate 7%
$570,871
Cap Rate 9%
$444,011
Alternative Uses
Best Use
Multifamily LT 5
$570.9K
$499.5K – $666.0K
NOI $39,961 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$453.1K
$396.4K – $528.6K
NOI $31,715 @ 7.0% cap · market cap 5.03%
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
913
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with two three-bedroom layouts, a renovated one-bedroom unit, and paved off-street parking.
Where is this triplex located?
The property is located at 77 Henry Street Central Falls, RI.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: Three‑unit configuration with two 3‑bedroom apartments and one 1‑bedroom apartment; 2,400 SF triplex built in 1920; Unit 3 renovated with a mudroom, full bath, and living area
