417 Broad StCumberland, RI 02864

Property Details for 417 Broad St

Year built

1940

Construction

FRAME

Lot size

0.07 AC

Property size (Sq ft)

2,073 SF

Zone code

C-1

Property type

Investment properties

Property subtype

Live-work space

APN

CUMB M:007 B:0478 L:000

APU

CUMBM007B0478L000

Description

This exceptional Cumberland, RI investment property presents a rare opportunity to acquire a meticulously maintained multi-unit complex spanning 3,250 square feet on a 0.16-acre lot. The property comprises two buildings, both recently renovated with new interiors. The front building is a three-unit structure. The ground floor offers versatile commercial space, ideal for a variety of businesses. Above, the second and third floors each feature a two-bedroom, one-bathroom apartment, each with a bonus room on the second floor. The rear building is a charming three-bedroom, one-and-a-half-bathroom single-family residence. Both buildings benefit from recently replaced roofs (less than five years old), ensuring long-term cost savings. A shared water supply services both structures. This property is being offered as a package deal, presenting a unique opportunity for investors seeking a diversified portfolio or a savvy owner-occupant seeking rental income. The asking price for this turnkey investment is $599,999. This is an exceptional opportunity to acquire a high-yield property in a desirable location. The property's recent renovations and strong rental potential make it an attractive investment for both seasoned investors and those new to the market. Don't miss this chance to secure a valuable asset in the thriving Cumberland real estate market.

• CAP approach

  CAP return

  Valuation

  6%

  $342,729

  6.5%

  $316,365

  7%

  $293,768

• Comparable approach

  Method

  Valuation

  Relative Method

  $270,858

  Geo Method

  $270,858

• Alternative Use

  Use

  Valuation

  Residential

  $392,293

  Hospitality

  $359,338

  Educational

  $298,965

  Medical

  $309,247

  Retail

  $465,057

Location Insight

City

Cumberland

County

Providence

State

Rhode Island

Latitude

41.9112

Longitude

-71.3953

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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