Two-Family Home with Separate
For Sale
$629,000
Pending
105 Winter Street, Lincoln, RI 02838
Two-unit residence totaling 4 bedrooms and 2 bathrooms across 2,760 square feet, built in 1900.
Property Size2,760 SF
Days on Market73
Property Features for 105 Winter Street
General Information
Standard status
Pending
Size
2,760 SF
Property subtype
MultiFamily
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Brendan Duckworth · License #RES.0035620
(401) 787-7128
Source:
Lockandkeyre
Added: Jul 1
Changed: Sep 9
Last Checked: Sep 10 at 7:13AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This solid two-family home includes a total of 4 bedrooms and 2 bathrooms across 2,760 square feet. Built in 1900, the property features a large owner’s unit with vaulted ceilings and separate utilities for the two units.
The home is located in Manville (Lincoln), Rhode Island, with easy access to Routes 295 and 146.
With two distinct living units and independent utilities, the layout supports a mix of owner-occupant and rental use.
The home is located in Manville (Lincoln), Rhode Island, with easy access to Routes 295 and 146.
With two distinct living units and independent utilities, the layout supports a mix of owner-occupant and rental use.
Key Highlights
- Solid 2‑family residence with 4 bedrooms and 2 bathrooms total
- Total living area of 2,760 sq ft across two units
- Built in 1900 with an owner’s unit featuring vaulted ceilings
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
$45,955
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
7.31%
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%
$919,100
$919.1K
Cap Rate 7%
$656,500
$656.5K
Cap Rate 9%
$510,611
$510.6K
Market Conditions
NOI Build-Up for 2,760 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
$70.2K $25.44/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$65.7K $23.79/SF
− OpEx
−$19.7K −$7.14/SF
NOI
$46.0K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /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%
$919,100
Cap Rate 7%
$656,500
Cap Rate 9%
$510,611
Alternative Uses
Best Use
Multifamily LT 5
$656.5K
$574.4K – $765.9K
NOI $45,955 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$521.0K
$455.9K – $607.9K
NOI $36,472 @ 7.0% cap · market cap 5.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 02838, RI
3,801
Population
1,546
Households
2.5
Avg Household Size
38
Median Age
49%
College-Educated
91%
High-School Grad
1.4 sq mi
ZIP Area
2,715
Density / Sq Mi
$82,075
Median Household Income
$51,989
Median Earnings
$1,311
Median Rent
$327,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residence totaling 4 bedrooms and 2 bathrooms across 2,760 square feet, built in 1900.
Where is this duplex located?
The property is located at 105 Winter Street Lincoln, RI.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Solid 2‑family residence with 4 bedrooms and 2 bathrooms total; Total living area of 2,760 sq ft across two units; Built in 1900 with an owner’s unit featuring vaulted ceilings
