11-Unit Multifamily
New
For Sale
$625,000
Pawtucket, RI 02860, Pawtucket, RI 02860
Residential Income, Pawtucket, RI
Property Size2,340 SF
Lot Size0.13 Acres
Price / SF$267.09
Days on Market4
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
Parking
9
Window features
Storm Window(s)
Interior features
Plumbing (None), Insulation (Unknown)
Basement
Full, Unfinished, Storage Space
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Lot features
Paved Driveway, Sidewalks
Standard status
Active
Size
2,340 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6270
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Vinyl Siding
Additional Structures
None
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 5:06PM
MLS# 1421527
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 multifamily offering combines four residential income properties totaling 11 units. The portfolio includes one two-family building in Pawtucket and three-family buildings in Pawtucket and Central Falls. The properties date to 1900 and feature vinyl siding, hardwood and ceramic tile flooring, baseboard heat, and natural gas service.
Property features include gas water heaters, oven/range appliances, refrigerators, basements, and public sewer connections. The available room configuration includes bedrooms and bathrooms across the buildings, with individual property details represented within the package.
Property features include gas water heaters, oven/range appliances, refrigerators, basements, and public sewer connections. The available room configuration includes bedrooms and bathrooms across the buildings, with individual property details represented within the package.
Key Highlights
- Portfolio includes 4 multifamily properties with 11 total units
- Asset mix includes Pawtucket 3F, Pawtucket 2F, and two Central Falls 3F properties
- Buildings date to 1900
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
$38,962
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
6.23%
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%
$779,240
$779.2K
Cap Rate 7%
$556,600
$556.6K
Cap Rate 9%
$432,911
$432.9K
Market Conditions
NOI Build-Up for 2,340 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
$59.5K $25.44/SF
− Vacancy
−$3.9K −$1.65/SF
EGI
$55.7K $23.79/SF
− OpEx
−$16.7K −$7.14/SF
NOI
$39.0K $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%
$779,240
Cap Rate 7%
$556,600
Cap Rate 9%
$432,911
Alternative Uses
Best Use
Multifamily LT 5
$556.6K
$487.0K – $649.4K
NOI $38,962 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$441.7K
$386.5K – $515.4K
NOI $30,922 @ 7.0% cap · market cap 4.95%
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
1,311
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four multifamily properties span Pawtucket and Central Falls, with a mix of two-family and three-family buildings.
Where is this multifamily property located?
The property is located at Pawtucket, RI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Portfolio includes 4 multifamily properties with 11 total units; Asset mix includes Pawtucket 3F, Pawtucket 2F, and two Central Falls 3F properties; Buildings date to 1900
