Side-by-Side Duplex with
For Sale
$445,000
Pending
27 Faxon Street, West Warwick, RI 02893
MULTI_FAMILY - West Warwick, RI
Property Size1,477 SF
Lot Size0.25 Acres
Days on Market20
Property Features for 27 Faxon Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-7.5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2
Parking
4
Parking features
None
Patio and Porch features
Patio
Interior features
Wall (Dry Wall), Plumbing (Mixed), Insulation (Cap)
Exterior features
Patio
Appliances
Electric Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
Subdivision
Centreville
Lot features
Cul-De-Sac, Paved Driveway
Standard status
Pending
Size
1,477 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5436
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Amenities
private backyard
patio
off-street parking
Building Details
Year built
1976
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Residential Properties Ltd
(401) 457-3400
Listed By:
Joe Roch
(401) 440-7483
Added: Jul 24
Changed: Aug 9
Last Checked: Aug 12 at 2:06AM
MLS# 1418830
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 side-by-side duplex offers two separate 2-bed, 1-bath units. Each unit features laminate flooring and spacious eat-in kitchens, with multiple built-in appliances including a dishwasher, microwave, oven/range, refrigerator, washer, and dryer. The property includes a private backyard with a patio, vinyl siding, and a newer architectural-shingle roof. Plumbing and insulation are documented, and heating is electric baseboard.
The home is on a 0.25-acre lot and is served by public sewer. Lead certs are available for both units. Built in 1976, the duplex is located at the end of a quiet, tree-lined street in the Centreville section of town, with access to Route 2 shopping and dining and easy access to I-95 and 295.
A duplex configuration like this can suit either an investor seeking two separate residential units or an owner-occupant looking to live in one side while renting the other, with the added benefit of a private outdoor patio area.
The home is on a 0.25-acre lot and is served by public sewer. Lead certs are available for both units. Built in 1976, the duplex is located at the end of a quiet, tree-lined street in the Centreville section of town, with access to Route 2 shopping and dining and easy access to I-95 and 295.
A duplex configuration like this can suit either an investor seeking two separate residential units or an owner-occupant looking to live in one side while renting the other, with the added benefit of a private outdoor patio area.
Key Highlights
- Two 2‑bed, 1‑bath units in a side‑by‑side duplex
- Private backyard with patio
- New architectural‑shingle roof and vinyl siding
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
$21,461
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
4.82%
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%
$429,220
$429.2K
Cap Rate 7%
$306,586
$306.6K
Cap Rate 9%
$238,456
$238.5K
Market Conditions
NOI Build-Up for 1,477 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
$32.8K $22.20/SF
− Vacancy
−$2.1K −$1.44/SF
EGI
$30.7K $20.76/SF
− OpEx
−$9.2K −$6.23/SF
NOI
$21.5K $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%
$429,220
Cap Rate 7%
$306,586
Cap Rate 9%
$238,456
Alternative Uses
Best Use
Multifamily LT 5
$306.6K
$268.3K – $357.7K
NOI $21,461 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$281.6K
$246.4K – $328.6K
NOI $19,715 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$369.9K
$323.7K – $431.6K
NOI $25,895 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
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 - Side-by-side two-family with two 2-bed, 1-bath units, laminate floors, eat-in kitchens, private patio, and newer roof.
Where is this duplex located?
The property is located at 27 Faxon Street West Warwick, RI.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Two 2‑bed, 1‑bath units in a side‑by‑side duplex; Private backyard with patio; New architectural‑shingle roof and vinyl siding
