Older Duplex with
For Sale
$354,900
1 Side Hill Street, Hopkinton, RI 02832
MULTI_FAMILY - Hopkinton, RI
Property Size3,057 SF
Lot Size0.23 Acres
Price / SF$116.09
Days on Market106
Property Features for 1 Side Hill Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 3, Basement, Bedroom 2, Bathroom 3, Bedroom 1
Parking
4
Parking features
None
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
Exterior features
Porch
Basement
Storage Space, Partial, Unfinished
Appliances
Electric Water Heater, Oven/Range, Refrigerator
Subdivision
Hope Valley
Lot features
Corner Lot, Wooded
Standard status
Active
Size
3,057 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3170
Utilities
Sewer type
Septic Tank
Heating system
Zoned, Oil, Baseboard
Water source
Well
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile - Ceramic, Vinyl
Building materials
Plaster, Wood
Listing Agency:
Re/Max Real Estate Center · RE/MAX International
(401) 823-7600
Listed By:
David Tatangelo · License #S29833
(401) 465-0263
Added: Apr 29
Changed: Aug 1
Last Checked: Aug 12 at 1:06AM
MLS# 1411253
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 older duplex, built in 1880, offers a practical two-unit setup with distinct living quarters. Each unit provides two bedrooms and 1.5 baths, along with bright kitchens and cozy living areas. Separate entrances support privacy, and interior character elements such as tall ceilings are complemented by updates for move-in readiness. The walk-out lower level includes additional space that offers potential for further finishing, not currently included.
Set on a 0.23-acre lot with 3,057 square feet of total property size, the home includes porch features at the exterior. It is served by a well for water and a septic tank for sewer. Heating is provided via zoned oil with baseboard heat, and the property includes a mix of plaster and wood construction elements. Flooring includes carpet, ceramic tile, and vinyl.
Zoned R-1, the property is located in Hopkinton, Rhode Island, with a quiet rural setting described as being a short distance to I-95 and area amenities.
Set on a 0.23-acre lot with 3,057 square feet of total property size, the home includes porch features at the exterior. It is served by a well for water and a septic tank for sewer. Heating is provided via zoned oil with baseboard heat, and the property includes a mix of plaster and wood construction elements. Flooring includes carpet, ceramic tile, and vinyl.
Zoned R-1, the property is located in Hopkinton, Rhode Island, with a quiet rural setting described as being a short distance to I-95 and area amenities.
Key Highlights
- Built in 1880 older duplex with porch features
- Each unit has two bedrooms and 1.5 baths
- Separate entrances for both units
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
$32,178
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
9.07%
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%
$643,560
$643.6K
Cap Rate 7%
$459,686
$459.7K
Cap Rate 9%
$357,533
$357.5K
Market Conditions
NOI Build-Up for 3,057 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
$61.3K $20.04/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$58.5K $19.14/SF
− OpEx
−$26.3K −$8.61/SF
NOI
$32.2K $10.53/SF
Area
Washington County, RI
Vacancy
4.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
45.00%
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%
$643,560
Cap Rate 7%
$459,686
Cap Rate 9%
$357,533
Alternative Uses
Best Use
Multifamily LT 5
$526.8K
$460.9K – $614.6K
NOI $36,873 @ 7.0% cap · market cap 10.39%
Second Best
Apartment 5plus
$459.7K
$402.2K – $536.3K
NOI $32,178 @ 7.0% cap · market cap 9.07%
Theoretical Best
Healthcare Medical
$610.8K
$534.4K – $712.6K
NOI $42,755 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 02832, RI
4,887
Population
2,170
Households
2.3
Avg Household Size
47
Median Age
36%
College-Educated
91%
High-School Grad
24.8 sq mi
ZIP Area
197
Density / Sq Mi
$101,225
Median Household Income
$46,394
Median Earnings
$1,114
Median Rent
$391,100
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 - Duplex in R-1 zoning with well water, septic service, and separate entrances for two move-in-ready two-bedroom units.
Where is this duplex located?
The property is located at 1 Side Hill Street Hopkinton, RI.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: Built in 1880 older duplex with porch features; Each unit has two bedrooms and 1.5 baths; Separate entrances for both units
