Two-Unit Duplex with Spacious
For Sale
$399,900
10 Stone Street, Coventry, RI 02816
Residential Income, Coventry, RI
Property Size1,920 SF
Lot Size0.08 Acres
Price / SF$208.28
Days on Market19
Property Features for 10 Stone Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Parking features
None
Appliances
Gas Water Heater
Standard status
Active
Size
1,920 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3001
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Natural Gas
Building Details
Year built
1878
Number of units
2
Flooring type
Laminate, Hardwood
Building materials
Clapboard
Listing Agency:
Re/Max Professionals · RE/MAX International
(401) 884-6050
Listed By:
Robert Rinn · License #RES.0044179
(401) 633-5788
Added: Aug 18
Changed: Sep 2
Last Checked: Sep 5 at 1:06PM
MLS# 1420427
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.
This 1878 duplex contains two one-bedroom residences totaling 1,920 square feet. The first-floor unit measures approximately 800 square feet, while the second-floor residence provides approximately 1,120 square feet. Both units have spacious living areas, with hardwood and laminate flooring throughout the property. Heating is provided by natural-gas baseboard systems, and the property includes a gas water heater.
Situated at 10 Stone Street in Coventry, Rhode Island, the property occupies a 0.0803-acre lot and uses a septic tank. The clapboard exterior and two-bathroom configuration are complemented by separate tenant responsibility for utilities. The two-unit arrangement supports either continued rental use or owner occupancy of one residence alongside the other unit.
Situated at 10 Stone Street in Coventry, Rhode Island, the property occupies a 0.0803-acre lot and uses a septic tank. The clapboard exterior and two-bathroom configuration are complemented by separate tenant responsibility for utilities. The two-unit arrangement supports either continued rental use or owner occupancy of one residence alongside the other unit.
Key Highlights
- Two one‑bedroom units with 1,920 square feet combined
- First‑floor residence is approximately 800 square feet
- Second‑floor residence provides approximately 1,120 square feet
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
$27,897
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
6.98%
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%
$557,940
$557.9K
Cap Rate 7%
$398,529
$398.5K
Cap Rate 9%
$309,967
$310.0K
Market Conditions
NOI Build-Up for 1,920 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
$42.6K $22.20/SF
− Vacancy
−$2.8K −$1.44/SF
EGI
$39.9K $20.76/SF
− OpEx
−$12.0K −$6.23/SF
NOI
$27.9K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$557,940
Cap Rate 7%
$398,529
Cap Rate 9%
$309,967
Alternative Uses
Best Use
Multifamily LT 5
$398.5K
$348.7K – $465.0K
NOI $27,897 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$366.1K
$320.4K – $427.1K
NOI $25,628 @ 7.0% cap · market cap 6.41%
Theoretical Best
Specialty Retail
$480.9K
$420.8K – $561.0K
NOI $33,661 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 02816, RI
33,206
Population
14,505
Households
2.3
Avg Household Size
45
Median Age
32%
College-Educated
93%
High-School Grad
36.9 sq mi
ZIP Area
900
Density / Sq Mi
$97,941
Median Household Income
$51,773
Median Earnings
$1,168
Median Rent
$317,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two oversized one-bedroom residences offer separate living areas and tenant-paid utilities in a compact duplex property.
Where is this duplex located?
The property is located at 10 Stone Street Coventry, RI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two one‑bedroom units with 1,920 square feet combined; First‑floor residence is approximately 800 square feet; Second‑floor residence provides approximately 1,120 square feet
