Vacant Two-Unit
New
For Sale
$549,900
11 Maybrey Drive, Westerly, RI 02891
Residential Income, Westerly, RI
Property Size2,160 SF
Lot Size0.28 Acres
Price / SF$254.58
Days on Market2
Property Features for 11 Maybrey Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Basement, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Parking
6
Parking features
None
Patio and Porch features
Deck
Interior features
Wall (Dry Wall), Plumbing (Copper), Plumbing (PVC), Insulation (Ceiling), Insulation (Walls)
Exterior features
Deck
Basement
Full, Partially Finished, Storage Space
Appliances
Electric Water Heater, Oven/Range, Refrigerator
Standard status
Active
Size
2,160 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3222
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Amenities
washer/dryer hookups
Building Details
Year built
1987
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Hardwood
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Re/Max South County · RE/MAX International
(401) 596-2067
Listed By:
Lynn Azzinaro · License #C14390
(401) 742-4584
Added: Aug 20
Last Checked: Aug 21 at 11:06PM
MLS# 1420940
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 2,160-square-foot duplex contains two spacious two-bedroom, one-bath residences and is being offered vacant. Each unit has its own utility service and dedicated washer and dryer hookups. The property also includes a partially finished lower-level area, a deck, vinyl siding, hardwood and vinyl flooring, and electric baseboard heat. Appliances include an oven/range, refrigerator, and electric water heater.
Set on 0.28 acres at 11 Maybrey Drive in Westerly, the property is served by public water and public sewer. The building was constructed in 1987 and includes a basement with additional usable space. The two-unit configuration supports separate residential occupancy within a single multifamily property.
Set on 0.28 acres at 11 Maybrey Drive in Westerly, the property is served by public water and public sewer. The building was constructed in 1987 and includes a basement with additional usable space. The two-unit configuration supports separate residential occupancy within a single multifamily property.
Key Highlights
- Two 2‑bedroom, 1‑bath units in a duplex configuration
- 2,160 square feet on a 0.28‑acre lot
- Delivered vacant for immediate occupancy planning
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
$26,054
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
4.74%
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%
$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
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
$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 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%
$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 4.74%
Second Best
Apartment 5plus
$324.8K
$284.2K – $378.9K
NOI $22,736 @ 7.0% cap · market cap 4.13%
Theoretical Best
Healthcare Medical
$431.6K
$377.6K – $503.5K
NOI $30,210 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 two-bedroom residences offer separate utilities and individual laundry hookups.
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 $549,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units in a duplex configuration; 2,160 square feet on a 0.28‑acre lot; Delivered vacant for immediate occupancy planning
