Two-Family Home with
New
For Sale
$599,000
158 Ten Rod Road, Exeter, RI 02822
MULTI_FAMILY - Exeter, RI
Property Size1,604 SF
Lot Size1.47 Acres
Price / SF$373.44
Days on Market4
Property Features for 158 Ten Rod Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RU3
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 2, Basement
Parking
6
Parking features
None
Patio and Porch features
Patio
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Copper), Plumbing (Mixed), Insulation (Ceiling), Insulation (Floors), Insulation (Walls)
Exterior features
Patio
Basement
Storage Space, Unfinished, Full
Appliances
Gas Water Heater, Tankless Water Heater, Dryer, Oven/Range, Refrigerator, Washer
Subdivision
Ten Rod Road
Lot features
Barn, Out Building, Paved Driveway
Standard status
Active
Size
1,604 SF
Lot size
1.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5159
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Natural Gas
Water source
Well
Building Details
Year built
1938
Floors in Building
2
Number of units
2
Flooring type
Laminate, Hardwood
Building materials
Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Williams & Stuart Real Estate
(401) 942-0200
Listed By:
Michelle Jordan
(401) 487-5188
Added: Jul 30
Changed: Aug 1
Last Checked: Aug 2 at 4:06AM
MLS# 1419038
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.
Two-family duplex property on 1.47 acres in RU3 zoning, built in 1938. The main residence is configured as a spacious open floor plan with a kitchen centered on an oversized island, plus two bedrooms, a full bath, and a laundry area on the main level. Upstairs offers flexible living space with a second full bath, kitchenette, and living area that can function as a private bedroom suite, guest quarters, or recreation room. A separate one-bedroom cottage sits on its own private yard.
Exterior features include a patio and mature landscaped grounds with gardens, perennial beds, fruit trees, and ornamental shrubs. Additional improvements include a new septic system installed in 2017 and a brand-new roof. The property is served by a well water source and uses a septic tank for sewer. Heating is natural gas with baseboard systems.
Convenient access to Route 4 places South County’s beaches, restaurants, and other attractions about 20 minutes away.
Exterior features include a patio and mature landscaped grounds with gardens, perennial beds, fruit trees, and ornamental shrubs. Additional improvements include a new septic system installed in 2017 and a brand-new roof. The property is served by a well water source and uses a septic tank for sewer. Heating is natural gas with baseboard systems.
Convenient access to Route 4 places South County’s beaches, restaurants, and other attractions about 20 minutes away.
Key Highlights
- 1.47‑acre RU3 zoned legal two‑family property built in 1938
- 1,604 SF main residence with open floor plan and oversized kitchen island
- Separate one‑bedroom cottage with its own private yard
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.9k | $18.00 |
| − Vacancy | −$1.2k | −$0.77 |
| EGI | $27.6k | $17.23 |
| − OpEx | −$8.3k | −$5.17 |
| NOI | $19.3k | $12.06 |
1,604 SF · lease $18.00/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$276.4K
$241.8K – $322.5K
NOI $19,347 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$241.2K
$211.1K – $281.4K
NOI $16,884 @ 7.0% cap · market cap 2.82%
Theoretical Best
Healthcare Medical
$320.5K
$280.4K – $373.9K
NOI $22,434 @ 7.0% cap · market cap 3.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 02822, RI
5,960
Population
2,084
Households
2.9
Avg Household Size
48
Median Age
42%
College-Educated
86%
High-School Grad
54.4 sq mi
ZIP Area
110
Density / Sq Mi
$87,185
Median Household Income
$38,404
Median Earnings
$1,128
Median Rent
$469,600
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 - Legal two-family property in RU3 with a separate one-bedroom cottage and barn on 1.47 acres.
Where is this duplex located?
The property is located at 158 Ten Rod Road Exeter, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1.47‑acre RU3 zoned legal two‑family property built in 1938; 1,604 SF main residence with open floor plan and oversized kitchen island; Separate one‑bedroom cottage with its own private yard
