Property summary
This exceptional 10-unit apartment building, located at 381 Central Street in Central Falls, Rhode Island, presents a compelling investment opportunity. The property boasts a strong current NOI of $81,114, yielding a 6.49% cap rate, with a pro-forma NOI of $92,218 and a pro-forma cap rate of 7.38%, indicating significant upside potential. Built in 1890, this two-story building sits on a substantial 20,676 square foot lot and offers a mix of one, two, and three-bedroom apartments, providing… diverse rental options. All units feature spacious layouts and individual gas-fired hot water heating systems. Ample off-street parking is available for over 20 vehicles, a significant advantage in this densely populated area. Recent upgrades include the replacement of all windows, enhancing energy efficiency and curb appeal. Conveniently situated near I-95 and bordering Massachusetts, the property benefits from excellent accessibility and proximity to a larger metropolitan area. The asking price is $1,250,000, or $125,000 per unit. Central Falls, with a population of 22,583 (2020 Census), is the smallest and most densely populated city in Rhode Island, offering a strong rental market. This property represents a rare opportunity to acquire a well-maintained multifamily asset with substantial growth potential in a high-demand location.
Ownership intelligence
Resolved identity, portfolio, hold profile and investor signals. Included in the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax
No data for this sectionNo tax or assessment record is on file for this parcel in the county feed.
Value estimate
· Sep 2026No data for this sectionNo value estimate could be modeled: the record carries too little market input for this parcel.
Recently sold
No data for this sectionNo cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $99/month
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
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The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
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