Updated Triplex with Separate
For Sale
$549,900
Pending
8 Snells Court, West Warwick, RI 02893
Residential Income, West Warwick, RI
Property Size2,989 SF
Lot Size0.18 Acres
Days on Market44
Property Features for 8 Snells Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Basement, Bedroom 4, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
Parking
5
Parking features
None
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Attic, Stairs, Plumbing (Mixed), Insulation (Cap), Insulation (Ceiling)
Exterior features
Porch
Basement
Full, Unfinished
Appliances
Electric Water Heater, Dryer, Oven/Range, Refrigerator, Washer
Subdivision
Phenix
Lot features
Extra Lot, Paved Driveway
Standard status
Pending
Size
2,989 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4177
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
coin operated washer dryer in basement
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Tile - Ceramic, Carpet, Vinyl
Building materials
Dry Wall, Paneled, Plaster, Clapboard, Other Siding, Shingles
Listing Agency:
Re/Max Real Estate Center · RE/MAX International
(401) 823-7600
Listed By:
Mary Lyons
(401) 439-8507
Added: Jul 17
Changed: Aug 20
Last Checked: Aug 29 at 11:06AM
MLS# 1418150
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 2,989-square-foot triplex was built in 1900 and includes three residential units with spacious, updated interiors. Units 1 and 2 are vacant and prepared for new occupants. Interior finishes include a mix of drywall, paneling, plaster, ceramic tile, carpet, and vinyl, while the property also includes porches and a basement with coin-operated laundry equipment. Appliances include refrigerators, ovens/ranges, washers, dryers, and an electric water heater.
Each unit has separate utilities, and the interiors are lead safe. The exterior includes clapboard, shingle, and other siding materials; siding work is needed for exterior compliance. The property sits on a 0.184-acre parcel at 8 Snells Court in West Warwick, Rhode Island, at the end of a dead-end street. Public water and natural-gas baseboard heat serve the property.
Each unit has separate utilities, and the interiors are lead safe. The exterior includes clapboard, shingle, and other siding materials; siding work is needed for exterior compliance. The property sits on a 0.184-acre parcel at 8 Snells Court in West Warwick, Rhode Island, at the end of a dead-end street. Public water and natural-gas baseboard heat serve the property.
Key Highlights
- Triplex totaling 2,989 square feet on a 0.184‑acre lot
- Units 1 and 2 are vacant and ready for new occupants
- Separate utilities for each residential unit
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
$43,430
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
7.90%
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%
$868,600
$868.6K
Cap Rate 7%
$620,429
$620.4K
Cap Rate 9%
$482,556
$482.6K
Market Conditions
NOI Build-Up for 2,989 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
$66.4K $22.20/SF
− Vacancy
−$4.3K −$1.44/SF
EGI
$62.0K $20.76/SF
− OpEx
−$18.6K −$6.23/SF
NOI
$43.4K $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%
$868,600
Cap Rate 7%
$620,429
Cap Rate 9%
$482,556
Alternative Uses
Best Use
Multifamily LT 5
$620.4K
$542.9K – $723.8K
NOI $43,430 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$570.0K
$498.7K – $665.0K
NOI $39,897 @ 7.0% cap · market cap 7.26%
Theoretical Best
Specialty Retail
$748.6K
$655.0K – $873.4K
NOI $52,403 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
235
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?
Triplex - Three residential units feature refreshed interiors, individual utilities, and shared basement laundry equipment.
Where is this triplex located?
The property is located at 8 Snells Court West Warwick, RI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Triplex totaling 2,989 square feet on a 0.184‑acre lot; Units 1 and 2 are vacant and ready for new occupants; Separate utilities for each residential unit
