Historic Duplex with Front
For Sale
$354,900
1 Side Hill Street, Hopkinton, RI 02832
Residential Income, Hopkinton, RI
Property Size3,057 SF
Lot Size0.23 Acres
Price / SF$116.09
Days on Market136
Property Features for 1 Side Hill Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 2, Bathroom 2, Basement, Bathroom 1, Bedroom 4, Bedroom 1
Parking
4
Parking features
None
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
Exterior features
Porch
Basement
Partial, Storage Space, Unfinished
Appliances
Electric Water Heater, Oven/Range, Refrigerator
Subdivision
Hope Valley
Lot features
Corner Lot, Wooded
Standard status
Active
Size
3,057 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3170
Utilities
Sewer type
Septic Tank
Heating system
Oil, Zoned, Baseboard
Water source
Well
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Vinyl, Carpet
Building materials
Plaster, Wood
Listing Agency:
Re/Max Real Estate Center · RE/MAX International
(401) 823-7600
Listed By:
David Tatangelo · License #RES.0029833
(401) 465-0263
Added: Apr 29
Changed: Sep 2
Last Checked: Sep 11 at 9:06AM
MLS# 1411253
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1880, this duplex contains 3,057 square feet arranged as two residences. Each unit includes two bedrooms, 1.5 baths, a bright kitchen, a comfortable living area, and its own entrance. Plaster details, varied flooring, front porches, and a walk-out lower level provide a mix of historic character and practical functionality. The lower level offers additional unfinished space that is not included in the stated property size.
The property occupies 0.23 acres at 1 Side Hill Street in Hopkinton, Rhode Island. It is set in a rural residential area with mature trees and open outdoor space, while I-95 and area amenities are described as a short distance away. The property uses well water and a septic tank, with zoned oil baseboard heat. There is no designated on-site parking, and the property will not pass FHA requirements.
The property occupies 0.23 acres at 1 Side Hill Street in Hopkinton, Rhode Island. It is set in a rural residential area with mature trees and open outdoor space, while I-95 and area amenities are described as a short distance away. The property uses well water and a septic tank, with zoned oil baseboard heat. There is no designated on-site parking, and the property will not pass FHA requirements.
Key Highlights
- Duplex with 3,057 square feet on 0.23 acres
- Two units, each with 2 bedrooms and 1.5 baths
- Separate entrances for both residences
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,178
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$643,560
$643.6K
Cap Rate 7%
$459,686
$459.7K
Cap Rate 9%
$357,533
$357.5K
Market Conditions
NOI Build-Up for 3,057 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.3K $20.04/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$58.5K $19.14/SF
− OpEx
−$26.3K −$8.61/SF
NOI
$32.2K $10.53/SF
Area
Washington County, RI
Vacancy
4.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$643,560
Cap Rate 7%
$459,686
Cap Rate 9%
$357,533
Alternative Uses
Best Use
Multifamily LT 5
$526.8K
$460.9K – $614.6K
NOI $36,873 @ 7.0% cap · market cap 10.39%
Second Best
Apartment 5plus
$459.7K
$402.2K – $536.3K
NOI $32,178 @ 7.0% cap · market cap 9.07%
Theoretical Best
Healthcare Medical
$610.8K
$534.4K – $712.6K
NOI $42,755 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 02832, RI
4,887
Population
2,170
Households
2.3
Avg Household Size
47
Median Age
36%
College-Educated
91%
High-School Grad
24.8 sq mi
ZIP Area
197
Density / Sq Mi
$101,225
Median Household Income
$46,394
Median Earnings
$1,114
Median Rent
$391,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances support privacy between the two residences.
Where is this duplex located?
The property is located at 1 Side Hill Street Hopkinton, RI.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: Duplex with 3,057 square feet on 0.23 acres; Two units, each with 2 bedrooms and 1.5 baths; Separate entrances for both residences
