Historic Triplex with Hardwood
New
For Sale
$700,000
Pawtucket, RI 02860, Pawtucket, RI 02860
Residential Income, Pawtucket, RI
Property Size3,384 SF
Lot Size0.09 Acres
Price / SF$206.86
Days on Market5
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 10, Bedroom 4, Bedroom 2, Bedroom 8, Bedroom 9, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 7, Bedroom 6, Basement, Bedroom 1, Bedroom 5, Bathroom 1
Parking
2
Parking features
None
Window features
Storm Window(s)
Interior features
Wall (Dry Wall), Wall (Plaster), Attic, Plumbing (Mixed), Insulation (Unknown)
Basement
Storage Space, Unfinished, Full
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Lot features
Fenced, Paved Driveway, Sidewalks
Standard status
Active
Size
3,384 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7640
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 30 at 2:06PM
MLS# 1421533
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 Pawtucket triplex contains 3,384 square feet on a 0.0918-acre lot and dates to 1900. The interior includes hardwood and ceramic tile flooring, drywall and plaster finishes, an attic, mixed plumbing, and insulation of unknown type. Vinyl siding forms part of the exterior construction, while natural-gas baseboard heating serves the property.
The building includes gas water heating, an oven/range, and a refrigerator. Public sewer service is in place, and the property has no listed parking. Located in Pawtucket, RI 02860, the asset offers a compact multifamily configuration with established residential improvements and basic building systems already present.
The building includes gas water heating, an oven/range, and a refrigerator. Public sewer service is in place, and the property has no listed parking. Located in Pawtucket, RI 02860, the asset offers a compact multifamily configuration with established residential improvements and basic building systems already present.
Key Highlights
- 3,384 square feet on a 0.0918‑acre lot
- Triplex classification with 3‑family configuration
- Built in 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
$56,345
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
8.05%
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%
$1,126,900
$1.1M
Cap Rate 7%
$804,929
$804.9K
Cap Rate 9%
$626,056
$626.1K
Market Conditions
NOI Build-Up for 3,384 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
$86.1K $25.44/SF
− Vacancy
−$5.6K −$1.65/SF
EGI
$80.5K $23.79/SF
− OpEx
−$24.1K −$7.14/SF
NOI
$56.3K $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%
$1,126,900
Cap Rate 7%
$804,929
Cap Rate 9%
$626,056
Alternative Uses
Best Use
Multifamily LT 5
$804.9K
$704.3K – $939.1K
NOI $56,345 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$638.8K
$559.0K – $745.3K
NOI $44,718 @ 7.0% cap · market cap 6.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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?
Triplex - Three-family residential property with natural-gas baseboard heat, ceramic tile, and public sewer service.
Where is this triplex located?
The property is located at Pawtucket, RI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 3,384 square feet on a 0.0918‑acre lot; Triplex classification with 3‑family configuration; Built in 1900
