Three-Unit Triplex with
For Sale
$449,000
10 Douglas Street, West Warwick, RI 02893
Two one-bedroom units and a two-bedroom, two-level unit provide a varied residential configuration.
Property Size2,174 SF
Price / SF$206.53
Days on Market8
Property Features for 10 Douglas Street
General Information
Standard status
Active
Size
2,174 SF
Total Parking Spaces
6
Property subtype
Multifamily
Units
Unit Mix
2 x 1BR, 1 x 2BR
Multifamily Units
3
Amenities
fire escape
hard wired smoke/carbon detectors
Building Details
Year Built
1900
Listing Agency:
BisMarc Properties, LLC
(401) 276-8300
Listed By:
Brenda L. Marchwicki · License #C14896
Source:
Lockandkeyre
Added: Aug 12
Changed: Aug 19
Last Checked: Aug 19 at 7:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BisMarc Properties, LLC
Investment Insights
Based on property information with market context.
This 1900-built triplex contains two one-bedroom units and one two-bedroom unit arranged across a second level. The property includes 5-6 onsite parking spaces, a fire escape, 100 Amp circuit breakers, hard-wired smoke and carbon monoxide detectors, three gas meters, and two electric hot water tanks. The roof and windows were replaced approximately 10 years ago, and the exterior has been freshly painted. The chimney is fiberglass lined, and a recent certificate of lead compliance is available.
Located at 10 Douglas Street in West Warwick, Rhode Island, the property is occupied by month-to-month tenants. The unit mix and existing building systems provide a clearly defined three-family configuration.
Located at 10 Douglas Street in West Warwick, Rhode Island, the property is occupied by month-to-month tenants. The unit mix and existing building systems provide a clearly defined three-family configuration.
Key Highlights
- Three‑family property with two one‑bedroom units and one two‑bedroom unit with second level
- 5‑6 car onsite parking
- Roof and windows replaced approximately 10 years ago
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
$31,588
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
7.04%
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%
$631,760
$631.8K
Cap Rate 7%
$451,257
$451.3K
Cap Rate 9%
$350,978
$351.0K
Market Conditions
NOI Build-Up for 2,174 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
$48.3K $22.20/SF
− Vacancy
−$3.1K −$1.44/SF
EGI
$45.1K $20.76/SF
− OpEx
−$13.5K −$6.23/SF
NOI
$31.6K $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%
$631,760
Cap Rate 7%
$451,257
Cap Rate 9%
$350,978
Alternative Uses
Best Use
Multifamily LT 5
$451.3K
$394.9K – $526.5K
NOI $31,588 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$414.6K
$362.7K – $483.7K
NOI $29,019 @ 7.0% cap · market cap 6.46%
Theoretical Best
Specialty Retail
$544.5K
$476.4K – $635.3K
NOI $38,115 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
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 - Two one-bedroom units and a two-bedroom, two-level unit provide a varied residential configuration.
Where is this triplex located?
The property is located at 10 Douglas Street West Warwick, RI.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Three‑family property with two one‑bedroom units and one two‑bedroom unit with second level; 5‑6 car onsite parking; Roof and windows replaced approximately 10 years ago
