Looking for a rare opportunity to own two properties on one lot? This is it! Take a look at this outstanding opportunity to own two 2 family homes at the price of one. Solid cash flow! The front house consists of two 2 bed 1 bath units, as does the rear house. Enjoy low maintenance vinyl siding and replacement vinyl windows. Both buildings have updated heat, including hot water tanks and furnaces being less than 5 years old. New electrical services are being installed. The units are nicely laid out and feel spacious. Property also boasts 4 off street parking spaces. Minutes away from all of the amenities downtown Woonsocket as to offer! Live in one unit and let the rents pay your mortgage! Long term tenants in place, front house tenants are leased and rear house tenants are month to month. Front house does have an unfinished attic with potential to be converted into townhouse style. With the current rental market becoming so competitive, this fantastic income property is sure to move quickly! Can be sold as a package with 179 2nd Ave in Woonsocket or separately.
Multi-familyProperty Type
1925Year Built
6,534 sq ftLot Size
$119Est. Price/Sq.Ft.
4 spacesParking
Listed by Jonathan Annear• Broadway Real Estate Group
Bought with Jonathan Annear• Broadway Real Estate Group
Great opportunity to own two properties on one lot! 8 bedrooms total with two 2 bedroom units in the front and two 2 bedroom units in the rear. Both buildings have updated heat, including hot water tanks and furnaces being less than 5 years old. Long term tenants in place, front house tenants are leased and rear house tenants are month to month. Front house does have an unfinished attic with potential to be converted into townhouse style. Property will NOT pass FHA. Conventional loans or cash only!
RIS #1193942
Aug 30, 2018
Sold
$220,100
$42/sq ft
Jul 2, 2018
Pending
—
Jun 18, 2018
Price Changed
$219,900
$42/sq ft
Jun 4, 2018
Listed
$229,900
$44/sq ft
Two 2-Families on one lot. Updates include vinyl siding, many replacement windows and baseboard heating systems in the first floor apartments. Currently fully rented with long term tenants generating $38,500 in annual income. All two bedroom apartments. Great investment - approximate 11% CAP Rate; no house gas or electric meters, no hardwired fire coding requirements. Off-street parking for 4 or 5 cars. Buildings do need some work.
Year
Property tax
Land + Additions
Assessment*
2025
$6,547 (−5.5%)
$90,900 + $492,100
$583,000
2024
$6,931 (+4.0%)
$90,900 + $385,800
$476,700
2023
$6,664
$90,900 + $385,800
$476,700
2022
$6,664 (+48.7%)
$90,900 + $385,800
$476,700
2021
$4,482 (−1.0%)
$37,100 + $151,600
$188,700
2020
$4,529 (−0.3%)
$37,100 + $151,600
$188,700
2018
$4,544 (−30.3%)
$37,100 + $151,600
$188,700
2017
$6,523 (−5.5%)
$40,600 + $176,100
$216,700
2016
$6,900 (−13.0%)
$40,600 + $176,100
$216,700
2015
$7,927 (+0.5%)
$40,600 + $176,100
$216,700
2014
$7,889 (+4.0%)
$44,700 + $174,800
$219,500
2013
$7,586 (+7.1%)
$44,700 + $174,800
$219,500
2012
$7,081
$44,700 + $174,800
$219,500
Tax history for 141 Welles St
Year
Property tax
Land + Additions
Assessment*
2025
$6,547 (−5.5%)
$90,900 + $492,100
$583,000
2024
$6,931 (+4.0%)
$90,900 + $385,800
$476,700
2023
$6,664
$90,900 + $385,800
$476,700
2022
$6,664 (+48.7%)
$90,900 + $385,800
$476,700
2021
$4,482 (−1.0%)
$37,100 + $151,600
$188,700
2020
$4,529 (−0.3%)
$37,100 + $151,600
$188,700
2018
$4,544 (−30.3%)
$37,100 + $151,600
$188,700
2017
$6,523 (−5.5%)
$40,600 + $176,100
$216,700
2016
$6,900 (−13.0%)
$40,600 + $176,100
$216,700
2015
$7,927 (+0.5%)
$40,600 + $176,100
$216,700
2014
$7,889 (+4.0%)
$44,700 + $174,800
$219,500
2013
$7,586 (+7.1%)
$44,700 + $174,800
$219,500
2012
$7,081
$44,700 + $174,800
$219,500
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.