Two-Unit Duplex with
10 Mill Street, West Warwick, RI 02893
For Sale
New
$395,000
A private-entry one-bedroom unit sits alongside a four-bedroom home with an updated kitchen and flooring.
Property Size1,602 SF
Price / SF$246.57
Days on Market6
Property Features for 10 Mill Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Building Details
Year Built
Buildings
Listing Agency:
Homistic Real Estate, Inc.
(401) 432-7227
Listed By:
Leann D'Ettore · License #REB.0018324
(401) 641-2014
Source:
Lockandkeyre
Added: Nov 4
Changed: Nov 8
Last Checked: Nov 8 at 3:58PM
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 Homistic Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residences and totals 1,602 square feet. The four-bedroom unit has an updated kitchen, updated flooring, and a porch. Its one-bedroom counterpart has a separate entrance. A paved driveway provides off-street parking.
At 10 Mill Street in West Warwick, the property is near shops, restaurants, and everyday services along Main Street and in Arctic Village. The West Warwick Greenway, Washington Secondary Bike Path, and Riverpoint Park are nearby, as are local schools and public transportation.
At 10 Mill Street in West Warwick, the property is near shops, restaurants, and everyday services along Main Street and in Arctic Village. The West Warwick Greenway, Washington Secondary Bike Path, and Riverpoint Park are nearby, as are local schools and public transportation.
Key Highlights
- Two side‑by‑side residences: a four‑bedroom unit and a one‑bedroom unit
- 1,602 square feet
- One‑bedroom apartment has a private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,277
Cap Rate
5.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$465,540
$465.5K
Cap Rate 7%
$332,529
$332.5K
Cap Rate 9%
$258,633
$258.6K
Market Conditions
NOI Build-Up for 1,602 SF
Gross rent
$35.6K $22.20/SF
− Vacancy
−$2.3K −$1.44/SF
EGI
$33.3K $20.76/SF
− OpEx
−$10.0K −$6.23/SF
NOI
$23.3K $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 Rate 5%
$465,540
Cap Rate 7%
$332,529
Cap Rate 9%
$258,633
Alternative Uses
Best Use
Multifamily LT 5
$332.5K
$291.0K – $388.0K
NOI $23,277 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$305.5K
$267.3K – $356.4K
NOI $21,384 @ 7.0% cap · market cap 5.41%
Theoretical Best
Specialty Retail
$401.2K
$351.1K – $468.1K
NOI $28,086 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
614
Businesses Nearby
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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
$293,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in West Warwick, RI
Properties on Market for Duplexes in West Warwick
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A private-entry one-bedroom unit sits alongside a four-bedroom home with an updated kitchen and flooring.
Where is this duplex located?
The property is located at 10 Mill Street West Warwick, RI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two side‑by‑side residences: a four‑bedroom unit and a one‑bedroom unit; 1,602 square feet; One‑bedroom apartment has a private entrance
