Vacant Two-Unit
For Sale
$529,900
11 Maybrey Drive, Westerly, RI 02891
Vacant duplex with separate utilities and laundry hookups serving each unit.
Property Size2,160 SF
Price / SF$245.32
Days on Market56
Property Features for 11 Maybrey Drive
General Information
Standard status
Active
Size
2,160 SF
Property subtype
MultiFamily
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
washer/dryer hookups
Building Details
Year Built
1987
Listing Agency:
RE/MAX South County
(401) 596-2067
Listed By:
Lynn Azzinaro · License #REC.0014390
(401) 742-4584
Source:
Lockandkeyre
Added: Aug 20
Changed: Oct 13
Last Checked: Oct 12 at 7:03PM
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 RE/MAX South County
Investment Insights
Based on property information with market context.
This 1987 duplex contains two two-bedroom, one-bath units and is being offered vacant. Each apartment has its own utility service and individual washer and dryer hookups. Additional partially finished space on the lower level provides flexible area within the property.
The property is located at 11 Maybrey Drive in Westerly, with public city water and public sewer. Downtown Westerly, Wilcox Park, the Westerly Library, restaurants, boutique shopping, coastal attractions, and beaches are all identified as nearby destinations. The two-unit configuration supports either owner occupancy with a second unit or use as a fully leased multifamily property.
The property is located at 11 Maybrey Drive in Westerly, with public city water and public sewer. Downtown Westerly, Wilcox Park, the Westerly Library, restaurants, boutique shopping, coastal attractions, and beaches are all identified as nearby destinations. The two-unit configuration supports either owner occupancy with a second unit or use as a fully leased multifamily property.
Key Highlights
- Two two‑bedroom, one‑bath units
- Delivered vacant at 11 Maybrey Drive, Westerly, RI 02891
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,054
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,080
$521.1K
Cap Rate 7%
$372,200
$372.2K
Cap Rate 9%
$289,489
$289.5K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$38.9K $18.00/SF
− Vacancy
−$1.7K −$0.77/SF
EGI
$37.2K $17.23/SF
− OpEx
−$11.2K −$5.17/SF
NOI
$26.1K $12.06/SF
Area
Washington County, RI
Vacancy
4.27%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,080
Cap Rate 7%
$372,200
Cap Rate 9%
$289,489
Alternative Uses
Best Use
Multifamily LT 5
$372.2K
$325.7K – $434.2K
NOI $26,054 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$324.8K
$284.2K – $378.9K
NOI $22,736 @ 7.0% cap · market cap 4.29%
Theoretical Best
Healthcare Medical
$431.6K
$377.6K – $503.5K
NOI $30,210 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 02891, RI
21,803
Population
12,660
Households
1.7
Avg Household Size
50
Median Age
41%
College-Educated
94%
High-School Grad
26.3 sq mi
ZIP Area
829
Density / Sq Mi
$90,435
Median Household Income
$49,448
Median Earnings
$1,249
Median Rent
$422,600
Median Home Value
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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 - Vacant duplex with separate utilities and laundry hookups serving each unit.
Where is this duplex located?
The property is located at 11 Maybrey Drive Westerly, RI.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Two two‑bedroom, one‑bath units; Delivered vacant at 11 Maybrey Drive, Westerly, RI 02891; Separate utilities for each unit
