In order to be a reasonable voice, I'd like to point out there actually are no rules for adding additional effects to already existing magic items. The rules say that only the magic items listed in the DMG and other books exist at all and that you can make up some new magic items if you want, but that it's completely up to the DM what the price of those items would be.
The DMG then gives some suggestions for starting points for the DM to determine prices on new items. However, the last step in creating any new magic item is to compare it with existing magic items and figure out if the price should be higher or lower than the charts would tell you.
So, essentially, my answer is: It depends what magic property you wanted to add to what other magic item.
In my opinion allowing items to have slots switched without increasing their costs only causes powergaming. There's nothing explicitly stated in the DMG that allows bracers of defection. There are some good guidelines in the DMG for using slots other than the ones that the bonuses have affinity for. However, I generally assume any slot other than the ones in the book already use are not affinity for that effect. That's why those are the most common items.
If a ring was a ring of protection +5, armor +8, and resistance +5, I would certainly make it cost a LOT more than the individual items put together, and likely a lot more than just the additional fee for having two properties on an item, and even a lot more than all of that plus the non-affinity cost.