Two-Unit Residential Income
11 Maple Avenue Westerly, RI 02891
New
For Sale
$560,000
Historic two-family home with six bedrooms, three bathrooms, hardwood floors, and a private yard.
Property Size2,898 SF
Price / SF$193.24
Days on Market7
Property Features for 11 Maple Avenue
General Information
Standard status
Active
Size
2,898 SF
Property subtype
Multifamily
Building Details
Year Built
1900
Listing Agency:
Jack Conway & Co Inc.
(508) 339-0022
Listed By:
Debra Fonger
Source:
Lockandkeyre
Added: Jul 21
Changed: Jul 25
Last Checked: Jul 27 at 6:32AM
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 Jack Conway & Co Inc.
Investment Insights
Based on property information with market context.
Historic home built circa 1850 featuring two separate family units. The first level offers four bedrooms, two full bathrooms, hardwood flooring, a large living room and dining room, plus a wood stove and laundry. The second-floor unit includes two bedrooms, a double living room, kitchen, pantry, and hardwood flooring with plenty of natural light.
The property includes a private yard, a two-car garage, and a shed. It is located just minutes from downtown Westerly and Wilcox Park.
The home is being sold as-is.
The property includes a private yard, a two-car garage, and a shed. It is located just minutes from downtown Westerly and Wilcox Park.
The home is being sold as-is.
Key Highlights
- Historic two‑family home built in 1900, offering a total of 6 bedrooms and 3 bathrooms
- First‑floor unit features 4 bedrooms and 2 full bathrooms, plus hardwood floors, a large living room, dining room, wood stove, and laundry
- Second‑floor unit includes 2 bedrooms, a double living room, kitchen, pantry, and hardwood floors with plenty of natural light
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.2k | $18.00 |
| − Vacancy | −$2.2k | −$0.77 |
| EGI | $49.9k | $17.23 |
| − OpEx | −$15.0k | −$5.17 |
| NOI | $35.0k | $12.06 |
2,898 SF · lease $18.00/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$499.4K
$437.0K – $582.6K
NOI $34,956 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$435.8K
$381.3K – $508.4K
NOI $30,504 @ 7.0% cap · market cap 5.45%
Theoretical Best
Healthcare Medical
$579.0K
$506.6K – $675.5K
NOI $40,531 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Historic two-family home with six bedrooms, three bathrooms, hardwood floors, and a private yard.
Where is this duplex located?
The property is located at 11 Maple Avenue Westerly, RI.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Historic two‑family home built in 1900, offering a total of 6 bedrooms and 3 bathrooms; First‑floor unit features 4 bedrooms and 2 full bathrooms, plus hardwood floors, a large living room, dining room, wood stove, and laundry; Second‑floor unit includes 2 bedrooms, a double living room, kitchen, pantry, and hardwood floors with plenty of natural light
