6,562 Sq. Ft.
$84 / Sq. Ft.
6,562
Sq. Ft.
$84
per Sq. Ft.

Description

Presenting an exceptional opportunity for astute investors, this dependable four-unit property stands as a testament to reliability and profitability. Boasting a track record of exceptional performance under its current owner, this building is a cornerstone of stability. Key to its success are the on time, paying tenants who occupy its units, alongside a prestigious anchor tenant on the coveted first floor. This ensures a hassle-free ownership experience, with minimal maintenance costs & unparalleled...Presenting an exceptional opportunity for astute investors, this dependable four-unit property stands as a testament to reliability and profitability. Boasting a track record of exceptional performance under its current owner, this building is a cornerstone of stability. Key to its success are the on time, paying tenants who occupy its units, alongside a prestigious anchor tenant on the coveted first floor. This ensures a hassle-free ownership experience, with minimal maintenance costs & unparalleled peace of mind. Featuring a sought-after configuration of two 3-bedroom units, and two 2-bedroom units, alongside an impressive nearly 7% cap rate, this property promises sustained occupancy and robust positive cash flow. Recent upgrades, including the replacement of all four hot water heaters, updated fire alarm panel, removal of visible knob and tube wiring, repainting of the main hallway and porches, underscore this property as a solid investment. While offering immediate returns, there also exists untapped potential for further enhancement, presenting savvy investors or owner occupants with opportunities to maximize value. Additionally, the presence of five rear parking spaces complemented by ample street parking ensures convenience and tenant retention for the long term. Check out the 360 tour and be sure to attend one of the three open houses this weekend!
  1. Listed by Stacy Corrigan • Brokerage DRE #REB.0016898 • Peace of Mind Prop. Mgmt & R.E • stacycorrigan@gmail.com

Property Details for 198 4th Avenue

Subdivision Name
Fairmount
LISTING UPDATED: 06/28/2024 04:44 PM

Property Details for 198 4th Avenue

StatusClosed
MLS #1358860
Days on Market6
Taxes$8,760 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / 4 Family - 4 Units Up/Down
Year Built1920
Lot Size0.13 AC / 5,663 SF
CountyProvidence County

Location

Listing Courtesy of Peace of Mind Prop. Mgmt & R.E

Sold By Peace of Mind Prop. Mgmt & R.E

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Building Information for 198 4th Avenue

Stories3Residences4Year Built1920Building Size-Lot Size0.13 AC / 5,663 SF

Payment Calculator

$3,399 per month

30 year fixed, 6.11% Interest

Principal and Interest

$2,669

Property Taxes

$730

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 198 4th Avenue

Summary
Location and General Information
  • City: Woonsocket
  • Community Features: Golf, Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Courts
  • Country: US
  • Directions: GPS
  • Postal City: Woonsocket
  • Postal Code: 02895
  • Postal Code Plus4: 4034
  • Road Frontage Type: Public
  • State Or Province: RI
  • Zoning: R4
  • Human Modified Y N: Yes
Parking
  • Covered Spaces: 0
  • Garage Spaces: 0
  • Garage Y N: No
  • Open Parking Y N: Yes
  • Parking Features: No Garage
  • Parking Total: 5
Taxes and HOA Information
  • Tax Annual Amount: $8,760.00
  • Tax Assessed Value: 337700
  • Tax Block: F
  • Tax Book Number: 2198
  • Tax Lot: 145
  • Tax Map Number: 145
  • Tax Year: 2024
Property
Lot Information
  • Above Grade Fin SQFT: 6562.0
  • Building Area Total: 6562.0
  • Building Area Units: Square Feet
  • Farm Land Area Units: Square Feet
  • Living Area Source: Public Records
  • Lot Features: Gentle Sloping
  • Lot Size Acres: 0.13
  • Lot Size Area: 5663.0
  • Lot Size Square Feet: 5663.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 1
  • Parcel Number: 1984THAVWOON
  • Stories Total: 3
  • Structure Type: Apartment
Property and Assessments
  • Buyer Financing: FHA, VA
  • New Construction Y N: No
  • Number Of Units Total: 4
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Road Responsibility: Public Maintained Road
  • Senior Community Y N: No
  • Year Built: 1920
  • Year Built Details: Actual
  • Year Built Source: Public Records
  • C L I P: 5,249,310,539
Utilities
  • Electric: Item110Volts, Item100Amp Service, Circuit Breakers, Item220Volts
  • Sewer: Connected, Public Sewer
  • Utilities: Sewer Connected
  • Water Source: Connected, Public
Interior and Exterior Features
Exterior Features
  • Accessibility Features: Accessibility Features
  • Exterior Features: Paved Driveway
  • Foundation Details: Stone
  • Roof: Rubber
Interior Features
  • Appliances: Gas Water Heater, Oven, Range, Refrigerator, Water Heater
  • Basement: Exterior Entry, Full, Interior Entry, Unfinished
  • Basement Y N: Yes
  • Bathrooms Full: 4
  • Bathrooms Half: 0
  • Bathrooms Total Integer: 4
  • Bedrooms Total: 10
  • Cooling: None
  • Cooling Y N: No
  • Fireplace Features: None
  • Fireplaces Total: 0
  • Fireplace Y N: No
  • Flooring: Ceramic Tile, Hardwood, Vinyl
  • Heating: Gas, Hot Water
  • Heating Y N: Yes
  • Interior Features: Tub Shower
  • Laundry Features: In Unit
  • Patio And Porch Features: Porch
  • Rooms Total: 19
  • Spa Y N: No
  • Window Features: Insulated Windows
Multi Family
Income & Expenses Information
  • Gross Income: $54,720.00
  • Gross Scheduled Income: $.00
  • Net Operating Income: $36,008.00
  • Operating Expense: $18,712.00
  • Water Sewer Expense: $2,639
Unit 1 Information
  • Actual Rent: $950.00
  • Description: Market Rent 1100 - 1300
  • Unit Type Area: 553.0
  • Baths Total: 1
  • Beds Total: 2
  • Num of Full Baths: 1
  • Num of Half Baths: 0
Unit 2 Information
  • Actual Rent: $1,150.00
  • Description: Market Rent 1200 - 1400
  • Unit Type Area: 830.0
  • Baths Total: 1
  • Beds Total: 2
  • Num of Full Baths: 1
  • Num of Half Baths: 0
Unit 3 Information
  • Actual Rent: $1,280.00
  • Description: Double parlor Market Rent 1600 - 1800
  • Unit Type Area: 1383.0
  • Baths Total: 1
  • Beds Total: 3
  • Num of Full Baths: 1
  • Num of Half Baths: 0
Unit 4 Information
  • Actual Rent: $1,180.00
  • Description: Double parlor Market Rent 1600 - 1800
  • Unit Type Area: 1383.0
  • Baths Total: 1
  • Beds Total: 3
  • Num of Full Baths: 1
  • Num of Half Baths: 0
Rental
Rental Information
  • Lease Amount Per Area Unit: DollarsPerSquareFoot
  • Land Lease Y N: No
  • Listing Terms: Other (See Remarks)
  • Rent Includes: Unit 1(None), Unit 2(None), Unit 3(None), Unit 4(None)
  • Tenant Pays: Hot Water
  • Total Actual Rent: $4,560.00

Property History for 198 4th Avenue

DateEvent & SourcePriceAppreciation
Jun 27, 2024

Sold

Rhode Island Association of REALTORS® #1358860

$550,000
Jun 27, 2024

Sold

MLS PIN #73238565

$550,000
Jun 25, 2024

Sold (Public Record)

Public Record #1534725725

$550,000

+4.2% / yr

May 28, 2024

Contract Signed

MLS PIN #73238565

May 28, 2024

Contract Out

MLS PIN #73238565

May 21, 2024

Contract Signed

Rhode Island Association of REALTORS® #1358860

May 15, 2024

Listed (Active)

MLS PIN #73238565

$525,000
May 15, 2024

Listed (Active)

Rhode Island Association of REALTORS® #1358860

$525,000
Apr 5, 2015

Permanently Off Market

Rhode Island Association of REALTORS® #1087517

Feb 2, 2015

Listed (Active)

Rhode Island Association of REALTORS® #1087517

$169,000
Aug 2, 2014

Permanently Off Market

Rhode Island Association of REALTORS® #1074074

Jul 21, 2014

Listed (Active)

Rhode Island Association of REALTORS® #1074074

$149,000
Jul 13, 2014

Permanently Off Market

Rhode Island Association of REALTORS® #1072858

Jul 7, 2014

Listed (Active)

Rhode Island Association of REALTORS® #1072858

$149,000
Jul 8, 2013

Sold

Rhode Island Association of REALTORS® #1036336

$65,000
Mar 27, 2013

Contract Signed

Rhode Island Association of REALTORS® #1036336

Mar 21, 2013

Listed (Active)

Rhode Island Association of REALTORS® #1036336

$47,500
Jun 20, 2003

Sold (Public Record)

Public Record #171371676

$231,500
DateEvent & SourcePrice
06/27/2024

Sold

Rhode Island Association of REALTORS® #1358860

$550,000
06/27/2024

Sold

MLS PIN #73238565

$550,000
06/25/2024

Sold (Public Record)

Public Record #1534725725

$550,000

+4.2% / yr

05/28/2024

Contract Signed

MLS PIN #73238565

05/28/2024

Contract Out

MLS PIN #73238565

05/21/2024

Contract Signed

Rhode Island Association of REALTORS® #1358860

05/15/2024

Listed (Active)

MLS PIN #73238565

$525,000
05/15/2024

Listed (Active)

Rhode Island Association of REALTORS® #1358860

$525,000
04/05/2015

Permanently Off Market

Rhode Island Association of REALTORS® #1087517

02/02/2015

Listed (Active)

Rhode Island Association of REALTORS® #1087517

$169,000
08/02/2014

Permanently Off Market

Rhode Island Association of REALTORS® #1074074

07/21/2014

Listed (Active)

Rhode Island Association of REALTORS® #1074074

$149,000
07/13/2014

Permanently Off Market

Rhode Island Association of REALTORS® #1072858

07/07/2014

Listed (Active)

Rhode Island Association of REALTORS® #1072858

$149,000
07/08/2013

Sold

Rhode Island Association of REALTORS® #1036336

$65,000
03/27/2013

Contract Signed

Rhode Island Association of REALTORS® #1036336

03/21/2013

Listed (Active)

Rhode Island Association of REALTORS® #1036336

$47,500
06/20/2003

Sold (Public Record)

Public Record #171371676

$231,500

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 198 4th Avenue

Taxable ValueLand$90,200Additions$441,100Total$531,300
Tax Record2025$5,966 ($497 / month)
Home Facts
Baths4Total Finished SqFt4,149 SqFtAbove Grade Finished SqFt4,149 SqFtUnfinished Basement SqFt1,471 SqFtStories3Lot Size5,663 SqFtStyleMulti-Family Res (5+ Units)Year Built1920ZoningR4CountyPROVIDENCEAPNWOON M:6F L:145 U:5

Schools near 198 4th Avenue

This home is within Woonsocket School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Kevin K. Coleman School
PublicK to 5

Woonsocket Middle @ Villa Nova
Public6 to 8

Woonsocket High School
Public9 to 12

Harris School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Peace of Mind Prop. Mgmt & R.E

Based on information from one of the following Multiple Listing Services: Rhode Island Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Rhode Island Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.