Triplex with
New
For Sale
$675,000
Central Falls, RI 02863, Central Falls, RI 02863
Residential Income, Central Falls, RI
Property Size2,768 SF
Lot Size0.12 Acres
Price / SF$243.86
Days on Market4
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 4, Basement, Bedroom 6, Bedroom 7, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1
Parking
6
Parking features
None
Window features
Storm Window(s)
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Exterior features
Porch
Basement
Unfinished, Storage Space, Full
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Lot features
Fenced, Paved Driveway, Sidewalks
Standard status
Active
Size
2,768 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6295
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Tile - Ceramic
Building materials
Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Re/Max One · RE/MAX International
(401) 943-6111
Listed By:
Marko Harrington
(401) 641-1663
Added: Aug 26
Last Checked: Aug 29 at 4:06PM
MLS# 1421545
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-family Central Falls property contains 2,768 square feet on a 0.1177-acre lot and dates to 1900. The building includes a porch, vinyl siding, drywall and plaster finishes, hardwood and ceramic tile flooring, and a basement. Heating is provided by natural-gas baseboards, with a gas water heater serving the property. Existing appliances include an oven/range and refrigerator, while plumbing is identified as mixed. Public sewer service is in place, and no parking is listed.
The remarks also identify the property as part of a four-property multifamily package totaling 11 units, with the package including properties in Pawtucket and Central Falls.
The remarks also identify the property as part of a four-property multifamily package totaling 11 units, with the package including properties in Pawtucket and Central Falls.
Key Highlights
- 2,768‑square‑foot three‑family property on a 0.1177‑acre lot
- Built in 1900 with vinyl siding and a porch
- Natural‑gas baseboard heating and gas water heater
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
$46,089
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
6.83%
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%
$921,780
$921.8K
Cap Rate 7%
$658,414
$658.4K
Cap Rate 9%
$512,100
$512.1K
Market Conditions
NOI Build-Up for 2,768 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
$70.4K $25.44/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$65.8K $23.79/SF
− OpEx
−$19.8K −$7.14/SF
NOI
$46.1K $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%
$921,780
Cap Rate 7%
$658,414
Cap Rate 9%
$512,100
Alternative Uses
Best Use
Multifamily LT 5
$658.4K
$576.1K – $768.2K
NOI $46,089 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$522.5K
$457.2K – $609.6K
NOI $36,578 @ 7.0% cap · market cap 5.42%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
1,022
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-family property with hardwood and ceramic tile flooring, natural-gas baseboard heat, and public sewer service.
Where is this triplex located?
The property is located at Central Falls, RI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,768‑square‑foot three‑family property on a 0.1177‑acre lot; Built in 1900 with vinyl siding and a porch; Natural‑gas baseboard heating and gas water heater
