Remodeled 3-Unit
For Sale
$689,900
Pending
8 Humes Street, Pawtucket, RI 02860
Remodeled in 2022 with separate gas and electric metering for each unit.
Property Size3,400 SF
Days on Market63
Property Features for 8 Humes Street
General Information
Standard status
Pending
Size
3,400 SF
Property subtype
MultiFamily
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1888
Year Renovated
2022
Listing Agency:
Innovations Realty
(401) 414-7414
Listed By:
Samuel Albert · License #RES.0042367
(401) 241-9439
Source:
Lockandkeyre
Added: Aug 4
Changed: Oct 4
Last Checked: Oct 5 at 6:59PM
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 Innovations Realty
Investment Insights
Based on property information with market context.
This 3-unit triplex was remodeled in 2022 and includes 9 bedrooms and 3 bathrooms. Each unit features double parlors, Shaker cabinets, vinyl flooring, and vinyl windows. Separate gas and electric meters serve the units, which also have on-demand boilers. The property was built in 1888.
Pawtucket Commuter Rail Station is approximately 2 minutes away. All three units are currently rented, while the first-floor unit may be vacant at closing.
Pawtucket Commuter Rail Station is approximately 2 minutes away. All three units are currently rented, while the first-floor unit may be vacant at closing.
Key Highlights
- 3‑unit triplex with 9 bedrooms and 3 bathrooms
- Remodeled in 2022
- Each unit has separate gas and electric meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,612
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,240
$1.1M
Cap Rate 7%
$808,743
$808.7K
Cap Rate 9%
$629,022
$629.0K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$86.5K $25.44/SF
− Vacancy
−$5.6K −$1.65/SF
EGI
$80.9K $23.79/SF
− OpEx
−$24.3K −$7.14/SF
NOI
$56.6K $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 Rate 5%
$1,132,240
Cap Rate 7%
$808,743
Cap Rate 9%
$629,022
Alternative Uses
Best Use
Multifamily LT 5
$808.7K
$707.7K – $943.5K
NOI $56,612 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$641.8K
$561.6K – $748.8K
NOI $44,929 @ 7.0% cap · market cap 6.51%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,755
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Remodeled in 2022 with separate gas and electric metering for each unit.
Where is this triplex located?
The property is located at 8 Humes Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: 3‑unit triplex with 9 bedrooms and 3 bathrooms; Remodeled in 2022; Each unit has separate gas and electric meters
