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    417 Broad St Cumberland, RI 02864

    For Sale
    $649,900

    Renovated Multi-Unit Property, High ROI Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional mixed-use investment property in Cumberland, Rhode Island, presents a rare opportunity. Located at 417 Broad Street, this 6,792 square foot lot encompasses two buildings, both recently renovated. The property boasts a total of four units, offering immediate income potential. The front building features three units: a studio apartment on the first floor, and two two-bedroom, one-bathroom units on the second and third floors, respectively. One of the upper units includes a bonus room. The rear building is a single-family residence with three bedrooms and one and a half bathrooms. Both buildings share a common water supply and are being sold as a package. Built in 1940, both buildings feature roofs that are only five years old, minimizing future maintenance concerns. The asking price for this turnkey investment is $649,900. This property is ideally suited for an investor seeking a strong return on investment in a desirable Rhode Island location. The combination of renovated units and the multi-family nature of the property ensures a stable and potentially growing income stream. Don't miss this chance to acquire a well-maintained, income-producing asset in a thriving community.

    Property Features for 417 Broad St

    General Information

    Property type
    Mixed-use properties

    Building Details

    Year Built
    1940
    Buildings
    2
    Units
    1

    HighLights

    • $649,900 asking price.
    • Mixed‑use land property in Cumberland, RI.
    • 6,792 square foot lot.
    • Two buildings, built in 1940.
    • One unit (multi‑family).
    • Recently renovated.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cumberland
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4061876
    Latitude
    41.9721816

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    FAQs

    What type of property is this?
    Mixed-use property - Renovated Multi-Unit Property, High ROI Potential
    Where is this mixed-use property located?
    The property is located at 417 Broad St Cumberland, RI.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: $649,900 asking price.; Mixed-use land property in Cumberland, RI.; 6,792 square foot lot.
    Request Owner's contact information
    417 Broad St Cumberland, RI 02864
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    417 Broad St Cumberland, RI 02864
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