253 Waterman Avenue Smithfield, RI 02917
MULTI_FAMILY - Smithfield, RI
- Added:
- Apr 30, 2026
- Days on Market:
- 74
- Last Refresh:
- Jul 12 at 3:06 am
Property Features for 253 Waterman Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 4, Basement, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
- Parking
- 4
- Parking features
- Garage
- Interior features
- Plumbing (Mixed), Insulation (Unknown)
- Basement
- Finished, Full
- Appliances
- Gas Water Heater
- Standard status
- Pending
- Size
- 1,879 SF
- Lot size
- 0.40 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4969
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Natural Gas
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Laminate
- Building materials
- Vinyl Siding
Listing agent Karl Martone License #145726 (401) 232-3900
Listing office Re/Max Properties 696 Douglas Pike, SMITHFIELD, RI (401) 232-3900
Listing date Apr 30, 2026
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.
The property is located at 253 Waterman Avenue in Smithfield, Rhode Island (02917), within Providence County. The remarks indicate the home is close to amenities and offers excellent highway access, which can be a practical advantage for tenant convenience and day-to-day commuting.
For investors and owner-occupants, the appeal centers on the two-family structure and included extra lot. It may be a useful fit for anyone looking for a residential income property where one unit can be lived in while the second unit helps support occupancy. The combination of a duplex setup and additional land gives buyers flexibility to evaluate how they want to use and manage the property going forward.
Key Highlights
- Affordable two‑family home on a double lot with sale including an additional lot in North Providence
- Built in 1920 with vinyl siding
- Includes 4 bedrooms and 2 bathrooms across the home’s rooms
Local 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 | $47.8k | $25.44 |
| − Vacancy | −$3.1k | −$1.65 |
| EGI | $44.7k | $23.79 |
| − OpEx | −$13.4k | −$7.14 |
| NOI | $31.3k | $16.65 |
