Two-Family Home with Vaulted
For Sale
$629,000
Pending
105 Winter Street, Lincoln, RI 02838
Residential Income, Lincoln, RI
Property Size2,760 SF
Lot Size0.23 Acres
Days on Market52
Property Features for 105 Winter Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Parking
3
Interior features
Plumbing (Mixed), Insulation (Unknown)
Fireplace
1
Basement
Unfinished, Full, Storage Space
Appliances
Gas Water Heater
Subdivision
Manville
Standard status
Pending
Size
2,760 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7368
Utilities
Heating system
Natural Gas
Building Details
Year built
1900
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Vinyl Siding
Listing Agency:
Real Broker, Llc
(855) 450-0442
Listed By:
Brendan Duckworth
(401) 787-7128
Added: Jul 1
Changed: Aug 20
Last Checked: Aug 21 at 12:06PM
MLS# 1416794
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 two-family property contains 2,760 square feet with four bedrooms and two bathrooms in total. The larger owner's unit includes vaulted ceilings, while separate utilities support the two-unit layout. Interior finishes include hardwood and ceramic tile flooring, with natural-gas heating, a gas water heater, vinyl siding, and a fireplace. The home was built in 1900 and includes basement space.
Set on 0.23 acres at 105 Winter Street in Lincoln, Rhode Island, the property is near Routes 295 and 146. The R zoning designation and two-unit configuration support its residential income use, while the owner's unit provides an option for an occupant seeking an on-site residence alongside a second unit.
Set on 0.23 acres at 105 Winter Street in Lincoln, Rhode Island, the property is near Routes 295 and 146. The R zoning designation and two-unit configuration support its residential income use, while the owner's unit provides an option for an occupant seeking an on-site residence alongside a second unit.
Key Highlights
- Two‑family property with 2,760 square feet, 4 bedrooms, and 2 bathrooms total
- Larger owner's unit features vaulted ceilings
- Separate utilities serve the two‑unit layout
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
$45,955
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
7.31%
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%
$919,100
$919.1K
Cap Rate 7%
$656,500
$656.5K
Cap Rate 9%
$510,611
$510.6K
Market Conditions
NOI Build-Up for 2,760 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
$70.2K $25.44/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$65.7K $23.79/SF
− OpEx
−$19.7K −$7.14/SF
NOI
$46.0K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /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%
$919,100
Cap Rate 7%
$656,500
Cap Rate 9%
$510,611
Alternative Uses
Best Use
Multifamily LT 5
$656.5K
$574.4K – $765.9K
NOI $45,955 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$521.0K
$455.9K – $607.9K
NOI $36,472 @ 7.0% cap · market cap 5.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 02838, RI
3,801
Population
1,546
Households
2.5
Avg Household Size
38
Median Age
49%
College-Educated
91%
High-School Grad
1.4 sq mi
ZIP Area
2,715
Density / Sq Mi
$82,075
Median Household Income
$51,989
Median Earnings
$1,311
Median Rent
$327,500
Median Home Value
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 - Two-unit residential property with separate utilities, hardwood flooring, and a gas water heater in Lincoln.
Where is this duplex located?
The property is located at 105 Winter Street Lincoln, RI.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Two‑family property with 2,760 square feet, 4 bedrooms, and 2 bathrooms total; Larger owner's unit features vaulted ceilings; Separate utilities serve the two‑unit layout
