New Construction
For Sale
$675,000
Pending
10 Walnut Street, West Warwick, RI 02893
Residential Income, West Warwick, RI
Property Size2,100 SF
Lot Size0.24 Acres
Days on Market100
Property Features for 10 Walnut Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Basement, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
Parking
4
Parking features
None
Basement
Full, Unfinished
Appliances
Gas Water Heater
Standard status
Pending
Size
2,100 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1200
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air
Building Details
Year built
2026
Number of units
2
Flooring type
Hardwood
Building materials
Vinyl Siding
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Kyle Seyboth · License #32535
(508) 726-3492
Added: May 14
Changed: Aug 20
Last Checked: Aug 21 at 12:06PM
MLS# 1412663
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 duplex is under construction and is scheduled for completion in 2026. The 2,100-square-foot property includes two residential units, with each unit offering three bedrooms and two full bathrooms. Planned interior features include hardwood flooring, vinyl siding, natural-gas heating, central air conditioning, and a gas water heater. The property occupies a 0.24-acre lot in West Warwick.
The home is positioned near local shopping, restaurants, and daily services, with access to Interstate 95, Route 2, and Route 117. The surrounding area also includes the Bald Hill Road retail district, Riverpoint Park, and the Washington Secondary Bike Path. T.F. Green Airport is approximately 15–20 minutes away, while Providence is a short drive.
The home is positioned near local shopping, restaurants, and daily services, with access to Interstate 95, Route 2, and Route 117. The surrounding area also includes the Bald Hill Road retail district, Riverpoint Park, and the Washington Secondary Bike Path. T.F. Green Airport is approximately 15–20 minutes away, while Providence is a short drive.
Key Highlights
- Two‑unit duplex under construction with 2026 completion
- 2,100 square feet on a 0.24‑acre lot
- Each unit includes 3 bedrooms and 2 full bathrooms
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
$30,513
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
4.52%
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%
$610,260
$610.3K
Cap Rate 7%
$435,900
$435.9K
Cap Rate 9%
$339,033
$339.0K
Market Conditions
NOI Build-Up for 2,100 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
$46.6K $22.20/SF
− Vacancy
−$3.0K −$1.44/SF
EGI
$43.6K $20.76/SF
− OpEx
−$13.1K −$6.23/SF
NOI
$30.5K $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%
$610,260
Cap Rate 7%
$435,900
Cap Rate 9%
$339,033
Alternative Uses
Best Use
Multifamily LT 5
$435.9K
$381.4K – $508.6K
NOI $30,513 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$400.4K
$350.4K – $467.2K
NOI $28,031 @ 7.0% cap · market cap 4.15%
Theoretical Best
Specialty Retail
$526.0K
$460.2K – $613.6K
NOI $36,817 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
614
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with contemporary layouts and central heating and cooling.
Where is this duplex located?
The property is located at 10 Walnut Street West Warwick, RI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑unit duplex under construction with 2026 completion; 2,100 square feet on a 0.24‑acre lot; Each unit includes 3 bedrooms and 2 full bathrooms
